AIMA fears EU protectionism February 16, 2010 THE hedge fund industry association has added its voice to concerns that the EU’s proposed directive on alternative investment funds risks protectionism. As Brussels reviews the directive, the Alternative Investment Management Association said a rule restricting EU investors from putting money into funds in non-EU countries would have serious consequences for free trade. A clause [...]
Premier Foods boosted by appetite for branded food February 16, 2010 STRONGER sales of branded food products helped boost profits at Premier Foods by 4.5 per cent in 2009 with further growth expected in the coming year. The maker of Hovis bread and Branston pickle reported a trading profit of £323m for the year to 31 December yesterday, in line with previously issued guidance. Sales climbed [...]
NEWS | IN BRIEF February 16, 2010 Toyota to cut back US output Toyota will shut down production at two of its US assembly plants for a total of at least 11 days as it grapples with slower sales after a wave of safety recalls. The shutdowns, announced yesterday, will affect Toyota’s San Antonio, Texas, and Georgetown, Kentucky, plants following the product [...]
Hammers insurance won’t cover £13m Ashton bill February 16, 2010 FORMER England striker Dean Ashton admits West Ham’s new owners are likely to be furious at having to pay the rest of his £13m contract. Ashton, 26, finally called time on his career in December after failing to recover from an ankle injury, just 18 months into a five-year contract believed to be worth £50,000 [...]
Bharti will pay Zain $10bn February 16, 2010 Bharti Airtel will finance its $10.7bn (£6.78bn) bid for Kuwaiti telecom firm Zain’s African assets with foreign currency loans. India’s top mobile operator is believed to be in talks with Standard Chartered, Barclays, State Bank of India, Goldman Sachs and Nomura to secure funding. State Bank of India had already agreed to provide $2bn in [...]
Shamed Powell eyeing Wales return February 16, 2010 WALES flanker Andy Powell has vowed to win back his place after being dropped from the Six Nations squad for drink-driving a golf buggy. The Cardiff Blues star’s international future is in doubt following his arrest early at a motorway service station on Sunday, hours after beating Scotland. Head coach Warren Gatland ditched Powell on [...]
Public turns against Kraft over Cadbury deal February 16, 2010 Peter Mandelson has expressed his “disappointment” at the manner of Kraft’s take-over of Cadbury, and the public, as measured by BrandIndex, seems to agree. Graph one shows what has happened to perceptions of the Kraft and Cadbury brands – measured as the proportion that are positive out of all those with a view, here with [...]
SPORT | IN BRIEF February 16, 2010 India take control in Kolkata CRICKET: VVS Laxman (143no) and Mahendra Dhoni (132no) put on an unbeaten stand of 259 to give India overwhelming control of the second Test against South Africa in Kolkata. The pair helped India to 643-6 – 347 runs ahead of the Proteas, who were 6-0 in reply before bad light stopped [...]
Strong Barclays results help FTSE to chalk up solid gains February 16, 2010 BRITAIN’S top shares closed sharply higher yesterday as Barclays led a banking sector rally after its 2009 forecast-beating results, and oils and miners were buoyed by firmer commodity prices. The FTSE 100 ended up 76.59 points, or 1.5 per cent, at 5,244.06, extending gains into a second consecutive session after closing 0.5 per cent higher [...]
DIAMOND TAKES HARD LINE ON BONUS ROW February 16, 2010 AS AN investment banking doyen continually under the cosh these days with regard to bonus payments, it must be tough to keep a calm and unruffled façade at all times. Bob Diamond, the president of Barclays and head of its money-spinning investment bank Barclays Capital – yesterday kept mostly schtum at the group’s annual results [...]
