Investec plans to launch £250m securitisation to test the market

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comPuffer fish snaps a selfie with lucky divernypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Share KCS-content Show Comments ▼ whatsapp Tags: NULL Sunday 19 September 2010 10:49 pm Investec plans to launch £250m securitisation to test the market SOUTH African banking group Investec plans to test the market with a £250m securitisation of “non-standard” mortgages, including some subprime loans.If it is successful, the deal would mark the first time subprime mortgages have been securitised in Europe since the financial crisis.People familiar with Investec’s plans said they had lined up a selection of investors for the issue and that it expected to have to pay a coupon of between two and three percentage points over Libor.The deal should be launched over the coming three to six weeks.Investec, which operates in South Africa, the UK and Australia, said last week it expected a slight uptick in first-half profit, as weak demand for loans was offset by growth in its fund business.South Africa’s fifth-largest bank said it expected operating profit to be “marginally higher” in the six months to the end of September, without giving any figures.Operating profit totalled £350.28m in the same period a year earlier.The banking group recently said last week that it could make an acquisition to build its asset management business. whatsapplast_img read more

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Rhetoric is spiralling out of control

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comConnecticut man dies after crashing Harley into live bearnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL Show Comments ▼ PERHAPS the most depressing part of Vince Cable’s nasty attack on corporate Britain, capitalism and finance was his embarrassing misreading of Adam Smith. The great economist agreed with Cable that business people dream of setting up cartels – but he made it clear in the subsequent sentence that the best way to prevent this was for the government to step aside and allow a truly free market.Cable’s speech was based on so many misconceptions that to demolish them all would fill half this newspaper. Take pay. Virtually all service sector industries pay a large proportion of their revenues to their workers in the form of wages. In many firms, it can be up to 90 per cent – the only other costs are often office rent, technology, basic office supplies and tax. A figure of two-thirds is certainly not uncommon in large service sector firms. This is the natural product of competition and the fact that there is, on average and over time, a strong link between an individual’s productivity (pounds he or she makes for employers) and his or her pay.If anything, banks pay their staff a much lower than average proportion of revenues; Goldman Sachs, for example, is now paying out about 43 per cent. But because revenues generated per staff are hugely higher in finance than in other industries, average incomes are equally larger. This is true even today with much lower levels of leverage. So when the politicians claim that they are angry at the banks for their “behaviour”, what they are really saying is that financial firms should defy economic gravity by pushing down compensation ratios. Ironically given Cable’s misinformed rants, this could only work in a global cartel and if staff were banned from leaving to small start-ups. The politicians’ contrived “anger” also has to do with the supposed refusal of banks to lend to solvent borrowers, a claim which is never backed up with any robust figures. In any case, this shouldn’t concern investment bankers, fund managers and other non-retail financiers – yet they too are coming under fire. It is always assumed that only the supply of lending is down, not its demand; yet this is an absurd claim. Of course supply is down: three years ago, an army of dodgy, under-capitalised institutions (including Icelandic banks) were lending as fast as they could. This supply no longer exists – and rightly so.It may be that lending is somehow artificially scarce – as opposed to more prudent, rational and expensive – but I have yet to be shown any real proof of this (surveys of wannabe borrowers, such as small firms, don’t count as they are not objective). Please email me if you have some real proof that banks are curtailing lending en masse for the “wrong” reasons, as opposed to making the odd stupid mistake or pricing loans more expensively to reflect the increased risk of default and the increased cost of capital and liquidity requirements. With bank profits up, and intensifying competition for staff globally, compensation will rise again. The only way to stop this would be to destroy the industry, which would bankrupt Britain. Given that a total shutdown won’t happen, and that firms cannot do anything other than hike pay at the moment, all hell is about to break loose politically. As we are already dangerously close to a tipping point, with Britain’s anti-capitalist mindset beginning to chase away global capital, the result is looking all too clear: an almighty, devastating train [email protected] KCS-content whatsappcenter_img whatsapp Rhetoric is spiralling out of control Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Wednesday 22 September 2010 9:03 pmlast_img read more

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H&M is hit by rise in costs of materials

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Share Wednesday 29 September 2010 10:42 pm whatsapp SWEDISH fashion group Hennes & Mauritz (H&M) said profit margins weakened in its third quarter, as costs rose.While H&M boosted profit by 20 per cent thanks to popular sales campaigns and its wide geographical spread, analysts worried about how the world’s third biggest clothing retailer – behind Gap and Inditex – will cope with an expected jump in input costs.The company had benefited from favourable exchange rates, transport costs and raw material prices, as well as spare capacity. But H&M said those factors had gradually diminished during the quarter.Analysts said H&M was cutting prices at a time when others were raising them to offset higher costs.Chief executive Karl-Johan Persson would not be drawn on price increases but said the company was braced for a further hit on gross margin in the fourth quarter and would be watching competitors.But he said: “We will look at what the competition is doing and how the market is at that point in time, but we do not have any plans to raise prices at the moment.”Persson said the company was eyeing new markets in the southern hemisphere, including Australia and South America.“H&M was always going to have the biggest gross margin pressure next year and if it is finding it harder than other retailers to raise prices, that is worrying,” Societe Generale analyst Anne Critchlow said.The company said it would be forced to delay some new store openings because of the continuing pressure on the consumer sector. H&M has 2,000 stores in 37 countries, with 76,000 staff. Germany is the retailer’s biggest market. center_img whatsapp Tags: NULL Show Comments ▼ H&M is hit by rise in costs of materials by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

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Moody’s expected to strip Spain of top credit rating

first_img Show Comments ▼ Tags: NULL KCS-content Wednesday 29 September 2010 11:13 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Moody’s expected to strip Spain of top credit rating whatsapp SPAIN is expected to loose its triple-A credit rating by the end of this week after a three-month review of the country’s finances by ratings agency Moody’s. The ratings agency put Spain’s debt on review for a possible downgrade at the end of June saying it would decide whether to downgrade the country’s rating after three months.At the time it said it would take Spain several years to recover from the collapse of its property market and that GDP growth was likely to be no higher than one per cent between 2010 and 2014. At the end of July Moody’s senior credit officer Steven Hess warned the country would probably lose its top credit rating.Most analysts expect Moody’s to downgrade Spain’s credit rating by one or two grades to either Aa1 or Aa2. Lowering Spain’s credit rating by one grade would put it in line with Fitch Ratings’ AA+ classification. A two-grade reduction would equal Standard & Poor’s rating of the country.Spain’s economy grew just 0.2 per cent in the second quarter of 2010 and 0.1 per cent in the first quarter as unemployment stayed above 20 per cent, the highest in the Eurozone. The economy is expected to shrink 0.4 per cent this year. The news came as Spain faced a general strike yesterday over austerity measures. There were protests in 11 European capitals to oppose measures such as spending cuts and pension and labour market reforms. Sharelast_img read more

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Enel IPO could signal return of fundraising

first_img whatsapp whatsapp Enel IPO could signal return of fundraising by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times KCS-content Share ITALY’S Enel has valued its green energy arm at up to €10.5bn (£9.1bn), putting it on track to launch Europe’s biggest IPO in three years and signalling a possible recovery in equity issues.Enel, Europe’s most indebted utility, said it expects to bank up to €3.4bn from the listing of Green Power (EGP), which it will use to cut its debts and protect its credit rating.However, Enel cut its price target on Friday to €1.8-€2.1 a share from a preliminary range of €1.9-€2.4 a share and investors said the new valuation remained ambitious, with one pledging not to apply for shares in the IPO but wait until after the float and buy them more cheaply on the market.“We have given our views to bankers dealing with the IPO and this pricing is way too high… It will be tough to get institutional investors into this deal at this price,” one European fund manager said, asking not to be named.The deal comes on the heels of a pick-up in European equity issuance which had seen a sluggish first half of the year, when a run of IPOs were postponed or had their targets cut, but investors continue to drive hard bargains.Investors have welcomed EGP’s diversified energy mix, strong cash flow and broad geographic footprint but expressed concern about slower growth versus peers and still fragile markets, clamouring for a discount. They worry that cash-strapped states could slash crucial support for green energy.Selling EPG shares at the top end of the range would value it just about in line with peers, with an enterprise value of just over 10 times core earnings, Thomson Reuters data show.At €1.8 a share, EPG’s enterprise value would drop to 9 times EBITDA, well below its peers. Enterprise value is the value of a company’s shares plus its net debt. According to Enel the unit’s P/E 2009 multiple at €1.8 a share is 19.9 times compared to 27.7 times for IBR and 31.7 times for EDPR. center_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ Tags: NULL Sunday 17 October 2010 10:46 pmlast_img read more

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HMV pins its hopes on DVD Xmas sales

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Show Comments ▼ whatsapp HMV pins its hopes on DVD Xmas sales Tuesday 26 October 2010 7:55 pmcenter_img whatsapp KCS-content Share MUSIC, games and books retailer HMV says releases of films such as Sex and the City 2 and Toy Story 3 will help its key Christmas period as it tries to bounce back from a disappointing start to the year.“All I can say about Christmas is that the release schedule in particular is looking healthy,” chief executive Simon Fox said on the sidelines of the World Retail Congress in Berlin. Our like-for-likes were very disappointing in the first 18 weeks. It’s a tough year for us.” HMV, which also owns live music venues, in September reported a worse than expected 15 per cent drop in first-quarter sales in Britain and Ireland.Fox said live music bookings at its venues for the period up to Christmas were also looking healthy and that its foray into clothing sales had started well.“So far, so good, but it’s early days,” he said, pointing out that the line was only launched in September. He declined to comment on the outlook for 2011 although was looking forward to the launch of Nintendo’s D’Alema player, which he said would be a “huge product”. Nintendo had said last month that it was putting the Japan launch date for the product, which can be used without special glasses, back to late February from November, close to the US March launch date. However, Fox said: “As far as I am concerned they did not delay the launch. We always expected an Easter launch.” Tags: NULLlast_img read more

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Online economy in UK is now worth £100bn

first_img Show Comments ▼ whatsapp Online economy in UK is now worth £100bn Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo whatsapp THE UK’s internet economy is now worth a staggering £100bn a year, according to a landmark survey commissioned by search giant Google.The online economy now represents 7.2 per cent of UK GDP – more than construction, transport or utilities. The report shows this share is likely to grow by about 10 per cent a year, reaching 10 per cent of GDP by 2015.The survey, carried out by Boston Consulting Group (BCG), shows the UK is among the top e-commerce economies, exporting £2.80 for every £1 imported. This is at odds with the offline economy, which exports 90p for every £1 imported.Overall, the UK ranks sixth, scoring similarly to the Netherlands, Norway, and Finland and better than Germany, the US, and France. The highest-ranked country is Denmark. Within the UK London was the leading region.The industry now employs 250,000 people in the UK. Around 60 per cent of the online economy is driven by online shopping and the cost of users’ connections to the internet.The number of adults who bought goods or services online in the past year totalled 31m, or 62 per cent of all adults. center_img KCS-content Wednesday 27 October 2010 8:54 pm Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Tags: NULLlast_img read more

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QUIET BOOK LAUNCH FOR BROWN ONLY FOR PROFS

first_img whatsapp KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndo QUIET BOOK LAUNCH FOR BROWN ONLY FOR PROFS whatsapp Share AFTER a long dormancy, which has seen former Prime Minister Gordon Brown make only rare appearances as an MP in the House of Commons, the troubled ex-chancellor is readying himself for a low-key book launch at the London School of Economics.The Capitalist has learned that the PM has set a date of 7 December for the launch, but if you were hastily pencilling the momentous day into your diary, think again. In the classic crowd-shunning mood of the former PM’s post-election activities, the event will only be open to students and professors of the university.With 2010 having already seen a rash of books by Labour party grandees – from Peter Watt’s Inside Out to Lord Mandelson’s The Third Man and Tony Blair’s epically named A Journey – Brown has gone for an altogether more academic name for his serious tome: Beyond the Crash: Overcoming the First Crisis of Globalisation. Well, he never claimed to be a branding genius…He is rumoured to have worked up quite a lather over the behaviour of RBS, which could make for an interesting read given his friendship with Sir Fred Goodwin and the cosy chats that Goodwin’s successor, Stephen Hester, has been having with Mandelson (as revealed by The Capitalist on Friday).But is Brown going to cash in on the launch? In his first tentative step onto the lecture circuit in New Delhi over the weekend, he reportedly bagged a cool £60,000 for his future promotional efforts.No word yet on whether his gig at the LSE will earn the ex-PM anything further, but with his speaking fee worth considerably less than Tony’s, he might be a little less tempted to follow Blair’s lead in donating all his book’s proceeds to charity. DINING FOR CHARITYA bevvy of high-profile City names showed up at the newly opened Hakkasan Mayfair hotel last week, for a dinner hosted by David Bailey, Heather Kerzner, Emily Oppenheimer and Keith Tyson in order to promote the charity Malaria No More UK.The guests, who included Arcadia Group owner and government efficiency tsar Sir Philip Green, fashion and property tycoon Richard Caring and Freud Communications’ Matthew Freud, were treated to a three-course meal and a deluge of cocktails before being urged to go out and promote the charity’s work in their various fields of experience. After all, charity often begins at the dining table… Show Comments ▼ Monday 22 November 2010 12:08 am Tags: NULLlast_img read more

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Chipmakers hope for iPad 2 boost

first_img Tags: NULL More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comConnecticut man dies after crashing Harley into live bearnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Chipmakers hope for iPad 2 boost whatsapp The iPad 2 was released just days ago but some users have already torn it open to see what is inside.The results have proved a bonus for manufacturers and chipmakers whose shares have been hit by fears the earthquake in Japan would disrupt supply chains and result in fewer sales.Imagination Technologies saw its shares climb 5.88 per cent on Tuesday when its input into the device was confirmed. Other chipmakers that have been involved in the iPad 2 include Broadcom, Toshiba, Samsung, Dialog Semi, STMicro and Texas Instruments.The parts total $326.6 (£204.2) – around the same as the original iPad.Analysts expect sales of around 39m iPad 2s this year. Share Show Comments ▼ whatsapp Wednesday 16 March 2011 8:55 pm KCS-content last_img read more

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Bidding on Blockbuster kicks off

first_img Bidding on Blockbuster kicks off alison.lock Share Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp A bankruptcy auction for movie rental chain Blockbuster has kicked off with a $284m (£176m) bid from Dish Network, quickly topped by bids from rival groups led by billionaire Carl Icahn and hedge fund Monarch Alternative Capital. The auction in the US Bankruptcy Court in Manhattan will decide the fate of the movie rental chain, which filed for bankruptcy last September. The company put itself up for sale in February after a reorganisation plan fell apart.The Icahn group bid $291.4m, while Cobalt Video, a group of hedge funds led by Monarch, offered $290m, said Blockbuster lawyer Stephen Karotkin, who was leading the auction. The Cobalt bid includes more money for repaying certain noteholders, he said.The auction, expected to continue throughout the day, will determine whether Blockbuster stays in business or shutters its 1,700 remaining stores.Once the biggest movie rental chain, the company foundered on intense competition from mail-order and digital competitors such as Netflix.The next owner could preserve Dallas-based Blockbuster as an ongoing business, though bidders also have the option of liquidating the company. Proceeds of the sale will become part of the bankruptcy estate.The other qualifying bidders were SK Telecom and a team including liquidators Gordon Brothers and Hilco Merchant Resources, said Karotkin, of law firm Weil Gotshal.The Icahn group includes liquidator Great American Corp and other parties. Activist investor Icahn, a large holder of Blockbuster senior debt, has long been interested in the company. Tuesday 5 April 2011 1:09 pm whatsapp Tags: NULLlast_img read more

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