Thomson Reuters to issue notes September 29, 2011 MEDIA conglomerate Thomson Reuters has announced it will offer $350m (£223m) of 10 year notes to refinance borrowings used to repay a recently expired bond issue. Barclays Capital, Deutsche Bank Securities, JP Morgan Securities and RBS Securities are the joint book-running managers for the offering. The offering is expected to close on 5 October, the [...]
Life in your hands: smartphone apps September 28, 2011 RIGHT, you’ve got the latest kit, the iPhone 4, iPad 2, BlackBerry Bold Touch perhaps, but your smartphone’s home screen is looking ever-so bare. Remedying this involves a trawl through app stores and user reviews without even knowing what you’re looking for. Fear not. We look beyond the social necessities of Facebook and Foursquare, and [...]
Reed Elsevier buys Accuity for £343m September 26, 2011 Publisher Reed Elsevier is bolstering its financial data business by buying US-based Accuity for £343m. The firm says it will combine Accuity with its Bankers’ Almanac and LexisNexis Risk Solutions businesses. It has agreed to acquire the online subscription data provider from Bahrain-listed investment manager Investcorp. Mark Kelsey, chief executive of Reed’s business information unit, [...]
UBS shake-up may take three years September 25, 2011 THE SHAKE-UP of the investment bank at UBS will take two to three years to complete, its chairman said yesterday after the resignation of Oswald Gruebel. Kaspar Villiger has asked interim chief executive Sergio Ermotti to quicken a scaling back of the investment bank so details can be revealed at the bank’s investor day on [...]
Canary Wharf plans to build new offices September 22, 2011 THE developer of Canary Wharf aims to double the size of the estate over the next decade on the back of an expected long-term shortage of prime office space. The expansion of the financial centre will help it meet the extra 100,000 passengers created when Crossrail is up and running, said Canary Wharf Group (CWG), [...]
Gregory’s new one is ambitious but under-juiced September 21, 2011 THE LADY OF THE RIVERS BY PHILLIPPA GREGORY Simon & Schuster, £7.99 PHILIPPA Gregory’s success has been built upon portraying women that have remained on history’s periphery – notably Mary, sister of Anne Boleyn in 2002’s The Other Boleyn Girl and Margaret Beaufort, mother of Henry Tudor, in 2009’s The Red Queen. Both have enjoyed [...]
Glasenberg adds to stake in Glencore September 19, 2011 GLENCORE boss Ivan Glasenberg has made another show of confidence in the commodity trader, buying almost £13.5m of shares to add to his holding as part of a plan to use his dividend income to buy more shares. Glasenberg, who announced last week he had bought £10m of shares and would buy more, bought another [...]
Multi-trillion yen boost to rebuild Japan September 18, 2011 TRILLIONS of yen will be raised in tax over the next decade to pay for post-earthquake reconstruction work, the Japanese government’s tax commission has announced. The proposed supplementary budget will bring in ¥11.2 trillion (£92.4bn). Either higher income and corporate taxes, or a combination including higher tobacco taxes, are expected to be used. The tax [...]
Rogue trader loses UBS $2bn September 16, 2011 UBS is expected to plunge bank into the red this quarter after the bank said a single rogue trader had cost it $2bn (£1.26bn). Ratings agency Moody’s has put the bank on review for a potential downgrade, it said late last night, citing “ongoing weaknesses in the group’s risk management and controls”. The trader at [...]
UBS $2bn rogue trader suspect held in London September 15, 2011 Swiss bank UBS said a trader had lost it around $2bn (£1.26bn) in unauthorised deals, and police in London arrested 31-year-old Kweku Adoboli in connection with the case. Adoboli – a director of exchange traded funds and “Delta 1” working in the bank’s London office, according to his profile on networking site LinkedIn – was [...]