Wales lose skipper for World Cup August 15, 2011 RUGBY UNION: Wales captain Matthew Rees has been ruled out of the World Cup with a neck injury. The hooker has been told by doctors he needs surgery to relieve the painful condition. Wales defence coach Shaun Edwards said: “It’s disappointing but there are more important things in life than rugby.”
Hockey teams sign new deal August 15, 2011 HOCKEY: England and Great Britain’s women’s teams have signed a lucrative new sponsorship agreement with bank Investec. The five-year agreement will begin this month when England head to the EuroHockey Nations Championship in Germany.
Time Warner Cable seals £1.8bn Insight purchase August 15, 2011 TIME Warner Cable (TWC) has reached a deal to buy The Carlyle Group’s cable operator Insight Communications for $3bn (£1.8bn), according to sources close to the deal. Insight, the 10th-largest cable operator in the US, sells cable television, high-speed internet and telephone services, serving approximately 750,000 customers. Its representatives approached TWC in recent weeks to [...]
Dragons’ Den star reaps £38m from telecoms firm August 15, 2011 DRAGONS’ DEN star Peter Jones has offloaded his telecoms firm Wireless Logic to private equity outfit ECI Partners in a deal worth £38m. The deal for the machine to machine communications firm is the latest in a string of telecoms disposals by Jones, a former tennis coach. The sales of SIM reseller DSNS and IT [...]
Tribunal backs £2m FSA fine for hedgies August 15, 2011 THE UK’s tribunal system has upheld the Financial Services Authority (FSA) decision to ban two hedge fund executives and fine them a total of £2.1m for market abuse and deceiving investors. Michiel Weiger Visser, who was chief executive of Mercurius Capital Management at the time of the abuses, was handed a £2m penalty for breaching [...]
Funds of funds attract cash August 15, 2011 INVESTORS have poured into funds of funds during 2011, new figures show, with the first half of the year seeing the highest sales on record. Net retail sales of funds of funds for the first six months of 2011 hit £3.8bn, according to research by the Investment Management Association (IMA), and the £2bn of sales [...]
RBS hires execs in China August 15, 2011 The Royal Bank of Scotland Group announced yesterday that it has appointed two senior bankers for its team in China, looking to gain ground in the country’s booming capital markets. Qing Cheng Hua has been named as the executive for its local unit in China and Charles Zhuo Xiao as managing director, China origination.
LMAX sees £13.2m annual loss August 15, 2011 LMAX, the retail trading platform owned by Betfair and Goldman Sachs, made a £13.2m loss in the year to the end of April as an £149,000 gross profit was dwarfed by almost £13.5m of costs. LMAX, which launched last October, had revenues of just £271,000. The company has reassessed its target market after chief executive [...]
Shell reveals size of spill in the North Sea August 15, 2011 AROUND 216 tonnes of oil, equivalent to 1,300 barrels, have leaked from a ruptured pipeline at Royal Dutch Shell’s North Sea platform, causing a “significant spill”, the company admitted yesterday. Although the spill is small in comparison to BP’s Macondo Well explosion in the Gulf of Mexico last year, the spill is still “substantial”, according [...]
Rockhopper upgrades its Falkland Islands oil find August 15, 2011 SHARES in Rockhopper Exploration jumped yesterday after the energy explorer upgraded its estimates for how much oil it could produce off the coast of the Falkland Islands. Rockhopper said that new seismic data suggested that its Sea Lion prospect in the North Falkland basin may be bigger than it thought and raised its low case [...]
