Anglo to retain De Beers stake October 27, 2009 Mining group Anglo American yesterday said it plans to retain its 45 per cent stake in De Beers, the world’s largest diamond producer. The company has been cutting costs, including jobs, to save $120m (£73m) a year.
NBC Universal mulls IPO October 27, 2009 NBC Universal could be floated on the stock market if France’s Vivendi decides to sell its 20 per cent stake in the group majority-owned by General Electric, Vivendi's chief executive said. "Why not?" said Jean-Bernard Levy when asked at a media conference whether an initial public offering would be an option for the US entertainment [...]
Hargreaves pockets profits October 27, 2009 City firm Hargreaves Lansdown yesterday revealed that its chief executive Peter Hargreaves, who started the financial-services firm from his Bristol flat in 1981, will see his pay package increase by 26 per cent this year. Hargreaves will trouser a total of £1.01m – including his £600,000 performance-related bonus. Stephen Lansdown, co-founder will take home a [...]
New head of UBS wealth unit rebuffs disposal talk October 27, 2009 ROBERT McCann, the new head of the battered US wealth management unit of Swiss bank UBS, said he aims to stem client withdrawals and has no plans to sell the business. McCann, a Merrill Lynch veteran who led the brokerage’s wealth management business until early this year, took up his new $850,000-a-year post yesterday and [...]
Chipmaker Arm says it will grow faster than rivals October 27, 2009 MICROCHIP designer ARM met expectations for third-quarter revenue and earnings yesterday and said it expects to outperform a recovery in the industry next year. “Despite pressure on customers’ R&D budgets this year, demand for ARM’s processors and physical IP technology remains strong, with a record numbers of licences signed in the third quarter,” said finance [...]
Citi rainmaker King joins Barclays Capital October 27, 2009 BARCLAYS Capital, the fast-growing division of Barclays that includes the US operations of fallen Lehman Brothers, has hired former Citigroup deal maker Tom King. King, who quit Citigroup five weeks ago saying he wanted to “pursue other interests”, was named co-head of corporate finance reporting to head of global investment banking Hugh “Skip” McGee. The [...]
THE TIPSTER October 27, 2009 NORWAY’S Norges Bank has been widely tipped as the next central bank to raise interest rates thanks to rising inflation rates in the Scandinavian oil producer. Norges Bank’s decision is due at 1pm UK time on Wednesday. FX traders should look at going long on Norwegian krone-Japanese yen as the yen is expected to suffer [...]
Real’s rise cannot be stopped by inflows tax October 27, 2009 SINCE 2007, we have been repeatedly told that the US dollar needs to weaken in order to rectify the global imbalances that were, at least partially, to blame for the economic downturn. But not everybody has welcomed the greenback’s recent decline. European officials have already been making noises about how the strength of the euro [...]
Money Dashboard secures 1m October 27, 2009 Money Dashboard, a personal finance website that helps people keep track of their money, said yesterday that it had secured a further £1m in investment ahead of its beta testing launch date next month. The service connects to a user’s online financial accounts and allows them to view all of their transactions in one place. [...]
Investors back Delta Lloyd’s IPO October 27, 2009 Investors have already placed enough orders to back Delta Lloyd’s €1.2bn initial public offering (IPO) with about a week to spare, pointing to decent demand for the flotation.
