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 [...]
PepsiCo’s price hikes help keep revenues rising October 16, 2013 PEPSICO reported higher quarterly earnings yesterday and said it was on track to meet its financial goals for the year, despite a sluggish economy. The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice said net income was $1.91bn (£1.2bn), or $1.23 per share, in the third quarter, up less than one per cent from $1.90bn, [...]
Pepsi urged to become snack food behemoth July 17, 2013 ACTIVIST shareholder Nelson Peltz said yesterday he wants PepsiCo to buy Mondelez International for around $35 a share in a deal that would be worth $62.46bn and create a snack food powerhouse selling everything from chocolate to chips. Peltz said in a 59-page presentation that PepsiCo was at a “strategic crossroads” and the status quo [...]
Danone seeks more savings as austerity in Europe dents sales December 13, 2012 FRENCH food group Danone said yesterday that it plans to cut jobs in Europe in an attempt to save €200m (£162.2m) over the next two years. The company, the biggest yoghurt maker in the world, said job losses will be restricted to managerial roles, and will be based on voluntary departures, but did not comment [...]
The pace quickens for London’s investment bankers September 13, 2012 Maybe it was the news that Tony Blair had intervened to reignite the City’s biggest takeover of the year. Maybe it’s just the natural gathering pace of autumn, when business tends to hot up. Or maybe it’s the raw fear of job losses or even the hope of a more stable Eurozone backdrop. Whatever the [...]
Peltz joins Ingersoll-Rand board August 13, 2012 Ingersoll-Rand named Nelson Peltz to its board yesterday, months after the activist investor pushed for changes at the manufacturer of air conditioners and security systems. The move averts a potential proxy fight between Ingersoll and Peltz, whose Trian Fund Management holds a seven per cent stake in the company. Ingersoll has said it is evaluating [...]
BUSINESS OF THE YEAR August 7, 2012 OUR final shortlist for the third annual City A.M. awards is a big one – the Business of the Year. For this category we have looked for strong share price performance aligned to important strategic developments. We have chosen four established companies, along with one rising star in Ophir Energy. Ophir has been one of [...]
Shareholders can find a potent ally in activist funds July 15, 2012 THE so-called shareholder spring – in which shareholders have been revolting against the pay of chief executives of major corporations like Barclays, Aviva, and William Hill – is gaining momentum. And activist hedge funds, which pressure public companies to make changes to improve a company’s share price, will increasingly drive this phenomenon. Many regard hedge [...]