FTSE 100 bosses and executive pay review has share awards in its sights September 9, 2015 You could almost hear the sighs of exasperation around the City this week as yet another review of boardroom pay was unveiled. The weariness was understandable – myriad studies of executive remuneration have gathered dust for years, even as FTSE-100 pay soared to fresh heights. There is no guarantee that this one, spearheaded [...]
Cadbury’s raider Nelson Peltz loses first ever boardroom vote over DuPont split May 13, 2015 Veteran corporate raider Nelson Peltz, who once besieged British chocolate maker Cadbury, lost a bitter boardroom battle for control of a US chemicals giant yesterday – his first defeat in a decade. Peltz, 74, lost a shareholder vote on his plans to overhaul the board of DuPont, a two century old company with offices in [...]
When raiders strike: Are US activist investors in City boardrooms a force for good or a costly nuisance? April 30, 2015 When US investor Nelson Peltz walks into a boardroom carrying a piece of paper you know there’s going to be trouble. Peltz, best known in the UK for bouncing Cadbury’s into a series of spin-outs and mergers, has a tried and tested tactic for effecting change: meet a chief executive, present him with a [...]
DuPont heats up its war of words with activist investor Peltz’s Trian January 14, 2015 US CHEMICAL giant DuPont yesterday hit back in a proxy battle with activist investor Nelson Peltz’s Trian Fund Management, who had demanded that it split into three separate firms. DuPont said the fight could “disrupt our company” at a key stage of development. Trian last week nominated four directors to DuPont for election at the company’s annual [...]
Wall St slips as US Fed ends bond buying – New York Report October 29, 2014 US STOCKS closed with slight losses yesterday, finishing off their lows of the session, after the Federal Reserve ended its stimulative monthly bond-buying programme and expressed confidence in American economic prospects. In a statement after a two-day meeting, the Fed ended its quantitative easing programme of bond purchases, as had been expected. At its peak, [...]
New York Report: Dow at record high after Fed rates promise September 17, 2014 US STOCKS edged higher in volatile trading yesterday after the US Federal Reserve renewed its pledge to keep interest rates near zero for a “considerable time” and repeated concerns over slack in the labour market, standing firm against calls to overhaul its policy statement. Interest rate projections, however, show Fed officials expect rate hikes, when [...]
Pepsi’s forecast takes fizz out of Peltz’s split call July 23, 2014 AMERICAN drinks and snacks giant PepsiCo yesterday raised its full-year profit forecast as it reported better-than-expected second-quarter results on higher sales and lower costs. The forecast gave management new ammunition to fend off calls from investor Nelson Peltz to split the firm. The maker of Pepsi-Cola, Walkers Crisps and Quaker Oats posted strong growth in [...]
Top hedge fund bosses earned $21.15bn in 2013 May 6, 2014 THE TOP 25 hedge fund managers in the US earned a combined $21.15bn (£12.55bn) last year, according to Institutional Investor’s Alpha magazine annual Rich List, published yesterday. Four managers raked in more than $1bn each, with a fifth narrowly missing out on that amount to earn $950m. The highest earner was David Tepper at US firm [...]
What the other papers say this morning – 21 February 2014 February 20, 2014 FINANCIAL TIMES Business Wire halts high speed traders Business Wire, which has published corporate news releases in the US for the last half century, will stop selling direct feeds to high-speed traders, amid concerns that the practice gives the firms an unfair advantage over other investors. Warren Buffett, whose conglomerate Berkshire Hathaway owns Business Wire, [...]
Cadbury owner adds Peltz to board January 21, 2014 Mondelez, the maker of Cadbury chocolate and Oreo cookies, added activist investor Nelson Peltz to its board yesterday in a deal that ends his campaign to have the company merge with PepsiCo. Peltz has been pushing Mondelez to sell itself to the beverage and snacks giant since the middle of last year. Shares in the [...]