All Saints’ Stephen Craig quits September 26, 2011 All Saints chief executive Stephen Craig has quit after falling out with chairman and co-founder Kevin Stanford over who was in charge. Craig stated yesterday the “current leadership structure is untenable given the lack of clarity of roles between the chairman, Kevin Stanford, and me.” He said he would seek “other more entrepreneurial opportunities.”
Aberdeen chief defiant despite a slump in funds September 26, 2011 SHARES in Aberdeen Asset Management climbed yesterday despite plunging markets and departing clients pulling the value of its funds down by nearly £9bn. The stock closed 0.89 per cent up at 170p after it said full year profits would be near the top of analysts’ predictions of £262m to £297m. Aberdeen said clients pulled a [...]
ANALYST VIEWS: HOW IS ABERDEEN DOING IN A TROUBLED MARKET? September 26, 2011 DAVID MCCANN | NUMIS SECURITIES Recent flows have been strong and importantly in high margin areas (global and emerging market equities) and we expect this trend to continue as investors continue to seek more international assets… the business is stronger now than in 2008-09. KEITH BAIRD | ORIEL SECURITIES Aberdeen is arguably better positioned than other [...]
Twitter snub to Tech City September 26, 2011 TWITTER will establish an international office in Dublin, in a move that has been seen as a snub to London’s flagship Tech City project. The microblogging site follows the lead of web giants including Google, Facebook, Microsoft and Intel in taking advantage of Ireland’s generous tax system. Its headline rate of corporation tax is just [...]
Tax rules mean UK lacks headline acts September 26, 2011 WHEN David Cameron launched the Tech City initiative last November, he said he wanted the UK to rival Silicon Valley as a global hub of innovation. A year later and that goal seems as far away as ever. Far from competing with Silicon Valley, Tech City is struggling to keep pace with Ireland and other UK [...]
Byrne aims to revive morale inside Omega September 26, 2011 MARK Byrne, the insurance entrepreneur bidding to take control of Omega Insurance, said yesterday he hoped there would be a quick resolution to the three-way takeover contest that has left the company in a state of flux. “It’s difficult to hire people when there’s a for sale sign on the door,” Byrne told City A.M. [...]
Jellybook struggles to find next Facebook as it loses £1m September 26, 2011 THE dotcom investment firm started by the son of Tory donor David “Spotty” Rowland made an operating loss of more than £1m in its first four months trading. Jonathan Rowland’s Jellybook said the losses were largely down to costs associated with its incorporation in March and its listing on AIM in June. In a gloomy [...]
Europe’s M&A slumps to worst quarter since 2004 September 26, 2011 EUROPEAN mergers and acquisitions activity fell 32 per cent in the third quarter compared with a year ago as volatile markets and plunging confidence put dealmaking on ice, new data yesterday showed. Targeted M&A deal value in Europe fell to $146.6bn (£94.8bn) in the three months to the end of September, the lowest quarterly value [...]
Reed Elsevier buys Accuity for £343m September 26, 2011 Publisher Reed Elsevier is bolstering its financial data business by buying US-based Accuity for £343m. The firm says it will combine Accuity with its Bankers’ Almanac and LexisNexis Risk Solutions businesses. It has agreed to acquire the online subscription data provider from Bahrain-listed investment manager Investcorp. Mark Kelsey, chief executive of Reed’s business information unit, [...]
Goldman invests £130m in Indian renewables start-up September 26, 2011 GOLDMAN Sachs has agreed to invest up to £130m in an Indian renewable energy start-up, as the US bank looks to cash in on the demand for energy in the world’s second-fastest growing major economy. It will be the single largest investment into India’s renewable energy sector, Goldman and ReNew Wind Power said in a [...]
