Atticus sees £2.7bn losses as downturn hits it hard September 2, 2008 Atticus, the high-profile New York hedge fund involved in the failed Barclays bid for ABN-Amro, has lost more than $5bn (£2.8bn) this year after its funds were battered by steep falls in financial stocks. The activist fund saw assets under management fall to around $14bn at the end of July, down from $20m last year [...]
Bumper profits at GDF-Suez September 2, 2008 The newly-formed French energy giant GDF Suez yesterday heralded the start of a “beautiful industrial adventure”, announcing that net profit had soared by 14 per cent. Rising energy demand and rocketing oil prices helped the powerhouse report bumper first-half profits of €3.4bn (£2.76bn), after it was created following the merger of France’s state owned Gaz [...]
Demand for UK equities is at its lowest for six years September 2, 2008 Demand for UK equities is set to fall to just £17bn this year, down from £68bn last year, its lowest level in six years a leading investment bank warned yesterday. Morgan Stanley. Morgan Stanley blamed plunging merger and acquisition activity levels, and a dwindling number of dividend pay outs and share buybacks for its prediction [...]
KPMG set to run Caliber liquidation September 2, 2008 Caliber Global Investment, the LSE listed mortgage-bond fund run by the hedge fund group Cambridge Place Investment Management, is seeking shareholder approval to appoint KPMG, the accountancy firm, to oversee its liquidation. Caliber is unwinding holdings of US and European mortgage-backed debt, which totalled $908m in March 2007, after taking losses on subprime mortgages. The [...]
Premier appeal for England’s leading football clubs September 2, 2008 Even 24 hours earlier, few would have believed that Manchester City would be the name on everybody’s lips on transfer deadline day. But City, rather than their more illustrious neighbours Manchester United, dominated much of the gossip and discussion yesterday, in the increasingly bizarre world that is modern football. First came the unexpected news of [...]
Arabs snatch Robinho as they buy City from Thaksin September 2, 2008 Manchester City’s new owners Abu Dhabi United Group (ADUG) showed the rest of the football world they mean business by snatching Real Madrid star Robinho from under the nose of rivals Chelsea for a British record transfer fee of £34m last night. Earlier, ADUG revealed it had agreed a multi-million takeover with owner Thaksin Shinawatra. [...]
Dresdner Kleinwort set for job cuts after Commerzbank seals the deal September 2, 2008 Dresdner Kleinwort employees were bracing themselves for a round of sweeping job cuts yesterday, after German bank Commerzbank completed a deal to buy Dresdner Bank from insurers Allianz at the weekend. Dresdner Kleinwort, led by CEO Stefan Jentzsch and his team employs about 5,500 staff in the UK, with 2,000 of those based in the [...]
Chelsea hit back as Real point finger September 1, 2008 Chelsea last night hit back at criticism from Real Madrid over their pursuit of striker Robinho as the on-going transfer saga turned nasty. Real earlier lashed out at Chelsea’s behaviour over their public courting of the Brazilian, in particular the selling of replica shirts with Robinho’s name printed on the back. But while the Blues [...]
Resilient Spurs make a point to leave Scolari frustrated September 1, 2008 Chelsea boss Luis Felipe Scolari admitted Tottenham deserved their away draw after he saw his 100 per cent win record come to an end. Scolari’s Blues enjoyed the majority of possession but couldn’t break down a resilient Spurs defence as Juande Ramos’s side earned their first point of the season. Juliano Belletti gave the Blues [...]
Bullard sent in to bring smiles back to England September 1, 2008 Fun-loving Londoner Jimmy Bullard will be looking to put smiles back on the faces of long-suffering England fans this week after being handed a shock World Cup call-up by boss Fabio Capello. The popular Fulham man, 29, has been drafted into the international arena for the first time to strengthen an England midfield which is [...]
