After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Co-operative profit jumps after merger March 30, 2011 CO-OPERATIVE Financial Services saw pre-tax profit rise 5.5 per cent last year to £53.3m, with the bank attributing a steep drop in costs to synergies after its 2009 merger with Britannia. But earnings were dented by a sharp rise in claims due to weather-related chaos early last year, with the bank estimating a claims cost [...]
S&P fuels fear over Eurozone March 29, 2011 STANDARD & POOR’S downgraded Greece and Portugal’s sovereign credit ratings yesterday, sending their borrowing costs up. Greece’s rating has been cut to BB-, close to junk status and worse than Egypt’s credit standing, while Portugal is now rated BBB- with a negative outlook by S&P. The yield on Portugal’s ten- and two-year bonds jumped to [...]
CPP’s shares plunge as FSA probes sales March 29, 2011 SHARES in CPP, the recently-floated credit card and identity theft insurer, fell 46 per cent yesterday to 150p following its after hours statement on Monday revealing that the FSA had been examining “alleged failings in sales calls with customers”. The share price fall is embarrassing for JP Morgan Cazenove and UBS which floated the FTSE250 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2011 FINANCIAL TIMES ICBC HEAD PLAYS DOWN POST-CRISIS LOAN RISK China’s largest bank lent Rmb640bn ($61bn) to local governments in the post-crisis credit boom, but insists these loans do not pose a danger to the country’s banking system. In an interview with the Financial Times, Jiang Jianqing, chairman of Industrial and Commercial Bank of China, the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2011 FINANCIAL TIMES HOLLYWOOD MAKEOVER FOR YOUTUBE Google is deepening its ties with Hollywood by enlisting top stars to supply original content for YouTube in a bid to boost profits and user engagement at the company’s online video site. Google has been making the rounds of Hollywood’s biggest talent agencies, outlining plans to create a network [...]
CITY MOVES | WHO’S SWITCHING JOBS March 24, 2011 LOVEFiLM Nick James has been appointed as new digital technical development director at the online film rental company. James will work alongside Lesley Mackenzie, group digital officer, on the technical co-ordination of new device platforms, building technology partnerships and further developing back office technical infrastructure. He joins LOVEFiLM from twocashew, a media consultancy responsible for [...]
At a glance: All the crucial points from Osborne’s Budget for Growth March 23, 2011 THE ECONOMY/PUBLIC FINANCES The Office for Budget Responsibility (OBR) has revised its growth forecast for the economy, blaming higher-than-expected inflation as a result of recent global commodity price shocks and the weather-affected final quarter of 2010. GDP growth has been revised down to 1.7 per cent in 2011. Growth is expected to peak at 2.9 [...]
Upbeat engineers and banks drive FTSE 100 to 1.2pc gain March 21, 2011 MINERS, banks and engineers drove gains in Britain’s top share index by the close yesterday as hope grew that the nuclear crisis in Japan is easing, while heavyweight Vodafone was boosted by M&A activity. The FTSE 100 closed up 67.96 points, or 1.2 per cent, at 5,786.09, its third straight session of gains. The index [...]
Overseas is where the growth lies March 17, 2011 LEGAL & General’s 24 per cent dividend hike and £1bn in annual profits are a sign of just how far the insurer has come over the past two years. In early 2009, concerns over the insurer’s capital requirements caused shares to drop 30 per cent in a single day. The dividend was halved to bump [...]
Commodities drive FTSE 100 higher as prices tempt buyers March 17, 2011 COMMODITY stocks powered a bounce in Britain’s top shares by close yesterday, as heavy selling this week made equities look attractive from a technical perspective, with volatility set to persist. The FTSE 100 index closed 97.88 points or 1.8 per cent, higher at 5,696.11. It had fallen in each of the previous six sessions and [...]