TURTLES DITCH DAY JOB FOR HEDGE FUND BREAK May 18, 2011 SOME of the City’s brightest talents will hand in their notices this week to pursue potentially even more lucrative careers as hedge fund traders. Oxbridge graduate Will Jukes, 27, who trained at Ernst & Young before working at RBS and most recently as a freelance financial analyst, will be much missed by his well-known Westminster [...]
Autonomy in £234m cloud acquisition May 16, 2011 Autonomy yesterday crashed into the cloud computing market with the £234m acquisition of Iron Mountain’s digital archiving business. The deal adds six petabytes – a million billion bytes – of data and 6,000 clients to Autonomy’s total customer base of more than 25,000 users. Autonomy said annual cost synergies should hit £25m over the first [...]
Technology clusters at the pinnacle of success May 16, 2011 SILICON Fen is the UK’s answer to California’s tech-rich valley. The Cambridge cluster is proof that, by forming a hub of creativity, UK technology companies can compete on the world stage. Charles Cotton of Cambridge Phenomenon explains that the original catalyst for Silicon Fen came from Tim Eiloart and David Southward, chemical engineering graduates from [...]
Tube walkouts called off May 10, 2011 A RUN of crippling Tube strikes due to start next Monday have been called off following secret talks between Transport for London boss Mike Brown and union officials. He told RMT Union leader Bob Crow that a driver at the centre of the dispute would be re-instated in order to avoid “significant disruption for London”. [...]
Autonomy grows profits but cash doubts remain April 21, 2011 Autonomy, the intelligent software maker that divides analysts as to its real financial strength, reported above-consensus profits and revenues today. Autonomy’s shares closed up 7.5 per cent at 1,621p after it said it saw a sustained recovery in its first quarter of 2011 as demand for its software continued to rise. Revenues and profits both [...]
BarCap set to gain broking mandate at 3i March 8, 2011 BARCLAYS Bank’s fast growing equities business BarCap was last night said to be close to winning an important new broking appointment at the international private equity group 3i. 3i has been conducting a regular review of its brokers, which are currently Bank of America Merrill Lynch and JP?Morgan. The group, whose chief executive is Michael [...]
CITY MOVES | WHO’S SWITCHING JOBS February 21, 2011 Chalsys Capital Partners Chalsys Capital Partners has appointed General Sir Mike Jackson as a special adviser, effective immediately. Jackson will provide specialist advice on renewable energy investments at the investment firm focused on clean tech, green infrastructure and natural resources. Jackson served as the UK’s chief of the general staff 2003-2006 after 45 years in [...]
More merger mania as NYSE enters talks February 9, 2011 EXCHANGES worldwide are being swept up in an accelerating wave of consolidation after Deutsche Börse yesterday afternoon revealed it was in advanced talks with NYSE Euronext to create the world’s largest exchanges operator by revenues. Coming just hours after the London Stock Exchange (LSE) and Canada’s TMX Group said they would join forces to create [...]
Autonomy stock soars after record sales and profits February 1, 2011 SOFTWARE specialist Autonomy’s shares gained more than six per cent to close at 1,590p yesterday after it reported record profits and revenues for 2010. Double-digit sales rises for its key servers and cloud computing systems generated an 18 per cent growth in revenue to $870m (£547m), from $740m in 2009. Full-year pre-tax profits of $379m [...]
The ex-university prof who built a tech giant February 1, 2011 DR MIKE Lynch, 45, began working on the mathematics behind Autonomy’s software in the early 1990s, when he was writing his post-doctoral thesis at Cambridge University. He was studying the work of an 18th Century vicar, Thomas Bayes, who spent his life trying to prove the existence of God through mathematics. “He never succeeded,” Lynch [...]