Pimco beefs up exposure to mortgages October 12, 2011 THE PIMCO Total Return Fund, the world’s largest bond fund, increased its exposure to mortgages in September and showed a dramatic drop in cash equivalents and money market securities for the same period, according to its website yesterday. Pacific Investment Management Co, which has $1.3 trillion in assets under management, increased exposure to mortgages in [...]
How badly has RIM’s reputation been hurt by three days of BlackBerry server failures? October 12, 2011 THIS week we are asking members of our readers’ panel whether RIM’s reputation can recover from three days of server outages, which have prevented millions of customers from accessing emails on their BlackBerrys. We want to know how badly the brand has been damaged, and whether it will eventually lose business to rivals such as Apple. [...]
CITY VIEWS: HOW BADLY HAS THE BLACKOUT HIT BLACKBERRY? October 12, 2011 FARAZ KHALID | ANTARES “I don’t think it has done any good – it may make people want to change phone completely. It is hard because so many people depend on their mobile phone for business or personal reasons. No company can afford to mess up like that.” THOMAS HUS | GROUPAMA TRANSPORT “It will [...]
LUNCH PRICES HIKED TO HIGHLIGHT PROBLEMS FACED BY THIRD WORLD October 12, 2011 LONDONERS may be accustomed to signing away the vast majority of their pay packet on the capital’s rising rents, but what if everyday food was as much of an outlay, accounting for 50 to 80 per cent of income every month? That’s what the Red Cross is hoping to highlight as it takes over popular [...]
BAE warns of uncertainty in US budgets October 12, 2011 BAE SYSTEMS has warned that flooding in the US and “significant uncertainty” over future levels of military spending may disrupt short-term trading, but it remained confident of winning further contracts despite a squeeze in government budgets. The world’s second biggest defence contractor said trading for the three months from 1 July had been in line [...]
Ryanair keeps pressure on Aer Lingus for payout October 12, 2011 RYANAIR ramped up pressure on Aer Lingus yesterday, calling in an open letter for the airline to take “urgent action” to improve its share price. Undeterred by Aer Lingus’ plan for a shareholder meeting announced yesterday, Ryanair penned its third open letter in the space of a month to ask for a €0.20 per share [...]
Most of FTSE are ignoring Davies report October 12, 2011 JUST 33 companies in the UK’s FTSE 100 have set targets for the percentage of women they plan to appoint to their boards, ignoring calls for boardroom equality to be addressed. Six months after the publication of Lord Mervyn Davies’ government-commissioned report into women on boards, a progress review by the Cranfield School of Management has shown [...]
US jails three in huge fraud case October 12, 2011 A FORMER lawyer and Wall Street trader caught up in the US government’s crackdown on insider trading that ensnared Galleon founder Raj Rajaratnam was last night ordered to serve two years and six months in prison for his role in the case. Michael Kimelman, who co-founded trading firm Incremental Capital with brothers Zvi Goffer and [...]
Anglo may lose Chilean mines October 12, 2011 MINING group Anglo American said it would “consider the implications” of Codelco’s announcement that it hopes to use its option to buy Anglo’s 49 per cent shareholding in its Chilean copper assets. State-run Codelco said its has lined up $6.75bn (£4.3bn) of funds in a deal with Japanese trading house Mitsui. Anglo has held the two [...]
Demand for Burberry is still booming October 12, 2011 LUXURY goods group Burberry batted away fears of an economic slowdown in its key Chinese market yesterday as it unveiled forecast-beating results. Revenues for the three months to September hit £463m – above a forecast for £448m by a poll of analysts. Luxury goods stocks have fallen sharply in recent weeks on signs of an [...]
