Hedge funds braced for a major crisis September 4, 2008 Managers are facing their toughest year since 1990, finds David Crow Once seen as the best way to make money whatever the state of the market, the magic glue that held the hedge fund sector together is beginning to come unstuck amid the intense heat of the credit crunch. Barely a day goes by without [...]
Tokyo Mitsubishi is in the frame for a stake in Lehman as suitors drop out September 4, 2008 The saga over bids for a stake in Lehman Brothers assets entered a new chapter yesterday, as another potential suitor entered the fray and several parties rumoured to be interested dropped out. Reports from Japan suggested that the country’s banking powerhouse, Tokyo Mitsubishi UFJ, was monitoring the situation closely, with a view to making a [...]
Women must wait 73 years for job equality September 4, 2008 Representation of female bosses in the FTSE 100 has increased slightly – to 11 per cent – since last year, the newly launched “Sex and Power” report from the Human Rights Commission revealed yesterday. However, women will still be “waiting in the wings” for an estimated 73 years to achieve equal status to their male [...]
Dresdner sale gets interest of UK broker September 4, 2008 British broker Collins Stewart is circling Dresdner Kleinwort, after Commerzbank admitted it would shrink the investment bank as part of its €9.8bn (£7.9bn) deal for fellow German bank Dresdner. Collins Stewart, itself the subject of a takeover approach from Japanese group Nomura Holdings, is thought to be eyeing several Dresdner Kleinwort businesses, including its advisory [...]
Blue Oar looks to the future September 4, 2008 Blue Oar, the UK investment bank and stockbroker, told its 160 staff yesterday not to expect their end-of-year bonuses this year unless there was a “dramatic improvement” in the markets but remained buoyant about the future. The company, whose bonuses are tied to profits, reported a pre-tax loss of £1.1m for the first half of [...]
Auto maker GM mulls UK output cuts September 4, 2008 Troubled US carmaker General Motors said last night it is closely monitoring the UK, Spanish and Irish markets, to see whether it should cut production due to the economic turmoil. GM Europe vice president of sales and marketing Brent Dewar said: “The economic headwinds in these three markets are concerning. We have already cut production [...]
Sterling falls further September 4, 2008 Sterling continued its sharp decline yesterday as currency markets reacted to the worsening outlook for the UK economy and a slew of negative economic data. Surveys showed consumer confidence mired at a four-month low in August as food prices rose ten per cent year-on-year. Other data showed activity in the services sector still weakening. The [...]
Providence slashes bid for Informa September 4, 2008 The private equity consortium is no longer prepared to pay as much for the UK firm Crumbling markets have led the private equity consortium circling Informa to slash its offer for the publisher, as another potential bidder dropped out of the race. The group led by Providence Equity Partners made an indicative offer of 506p [...]
Age law takes centre stage September 3, 2008 Hiring and firing are key area for age discrimination cases, says Jeremy Hazlehurst Earlier this week, the television presenter Selina Scott filed a claim for age discrimination against Channel Five. Scott, who is 57, said that she had been signed up to read the news while Natasha Kaplinski is off on maternity leave, but is [...]
Millionaire killed family before blaze September 3, 2008 Millionaire businessman Christopher Foster killed his wife and daughter before setting his country mansion alight and taking his own life, police said yesterday. They said were not seeking anyone else in their week-long investigation. The bodies of 50-year-old Foster and his wife were found in the charred ruins of the house on Friday, although Foster’s [...]
