Alibaba eyes European expansion from London September 1, 2009 CHINESE e-commerce firm Alibaba has opened a new European headquarters in London in an attempt to accelerate its expansion outside of China. The world’s largest business-to-business online marketplace, which has based its new home in the West End, has also announced the launch of a multi-million dollar global advertising campaign to aid its overseas growth. [...]
WOULD IT BE A MISTAKE FOR RSA TO LAUNCH A MAJOR CASH CALL? September 1, 2009 DUNCAN HALL FINNCAPThe size of the possible fundraising is pretty breathtaking for an organisation of RSA’s size. And the firm tends to be cited as a takeover target more than a potential consolidator. We would tell investors that, if there is to be a fundraising, they should stand back at the moment and wait for [...]
CITY MOVES WHO’S SWITCHING JOBS September 1, 2009 Martin CurrieThe investment management firm has appointed Alastair Barrie as global head of hedge fund sales and Clayton Cheek, pictured, as US head of hedge fund sales. Barrie joins from RBS, where he was a director of institutional business. He has also worked as director of global hedge fund sales at Henderson. Clayton, who will [...]
Kalahari raises 20m in placing September 1, 2009 Namibia-focused miner Kalahari Minerals said yesterday it had raised £20m through a share placing to satisfy its commitments towards a proposed A$91m (£46.9m) equity raising from Extract Resources, in which it holds a 40 per cent stake. Kalahari has issued 11.8m shares to new and existing shareholders at 170p a share. It added that it [...]
Majestic drops minimum purchase September 1, 2009 Wine warehouse operator Majestic Wine said yesterday it had reduced its minimum in-store purchase to six bottles rather than twelve, after having been hit by lower levels of demand from consumers in the credit crunch. The Aim-listed firm saw its underlying profits fall by 22.5 per cent over the year to March to £12.7m. Majestic [...]
Guanabara ups EcoSecs offer September 1, 2009 Guanabara Holdings said yesterday it had increased its cash offer for carbon offset company EcoSecurities from 77p to 90p a share, and extended the deadline for the bid until 18 September. Guanabara, set up by EcoSecurities’ co-founder and former president Pedro Moura Costa, said it had received acceptances representing about 23.53 per cent of EcoSecurities’ [...]
THE LONDON REPORT September 1, 2009 THE FTSE 100 shed 1.8 per cent yesterday, dragged back by weakness in banks and commodity issues, fuelling doubts over the sustainability of this summer’s strong rally. At the close, the FTSE 100 was 89.20 points lower at 4,819.70 after ending 0.8 per cent higher on Friday, when it also touched a near 11-month high. [...]
NEW YORK REPORT September 1, 2009 US stocks fell for a third straight day yesterday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality. September began living up to its reputation as the worst month for stocks as elevated anxiety pushed the three major indexes down 2 [...]
Djokovic’s on the march as Open hots up September 1, 2009 WORLD No4 Novak Djokovic made light work of a predicted banana skin last night as he enjoyed an easy passage into the second round of the US Open. The Serbian was up against former world No3 Ivan Lubicic but proved to be a class apart as he strolled past the 30-year-old Croatian 6-3, 6-1, 6-3 [...]
Twenty20 is hit by the rain again September 1, 2009 HEAVY rain yesterday accounted for the Twenty20 series between England and Australia with the Old Trafford pitch deemed unplayable for the second time in three days. Sunday’s first Twenty20 game was ended prematurely by rain while yesterday’s second and final match was abandoned without a ball being bowled due to problems with the wet outfield. [...]
