Hedge funds get serious about institutional cash 2 Feb 2006 Centaurus has hired Lehman s cohead of European investment banking in the latest hedge fund raid on an investment bank. Why do hedge funds want investment banking management talent? Because it will help them attract flows from institutional investors.
Rio’s caution may benefit shareholders 2 Feb 2006 That conservative call seems well placed. The mining giant's $5bn buyback and dividends show it is less bullish about the commodity cycle than its peers.
French guilty of globalisation double-think 2 Feb 2006 Even after merging companies like Arcelor with foreign groups, the establishment still won t let go of them. The insecurity this betrays about global markets is understandable, but not healthy.
Hedge fund registration may reduce hot money flows 2 Feb 2006 Only about 800 funds out of some 1,300 registered with the SEC by Wednesday s deadline. Many just extended investor lockups instead. The unintended consequence is that the big fund managers escape pressure from impatient investors. This should affect their behaviour too.
AstraZeneca’s earnings flatten out years early 2 Feb 2006 Investors always figured the UK drugmaker had several years of smooth sailing but 2006 earnings may be flat. And bigger rocks loom ahead. With a wave of patent expirations in 2008, the stock deserves more than its current 15% discount.
Google’s stock re-enters atmosphere 1 Feb 2006 The internet group s stock tumbled 12% after it missed the market's Q4 expectations, despite a big increase in ad clutter on Google pages. Meanwhile, the cost of Google's R&D ambitions is soaring. Expect it to continue its earthbound trajectory.
Greenspan shouldn’t run a hedge fund 1 Feb 2006 Investors might be tempted to hire the former Fed chief, who did much to protect hedge funds from regulation. But Greenspan has a patchy record at risk assessment. And his market calls were frankly pretty dreadful.
ProSieben minorities gain from failed Springer deal 1 Feb 2006 Now that Springer has abandoned its bid, there is a possibilty that a new bidder will pay more. Minority shareholders in the TV group were being offered a raw deal by the German publisher.
BSkyB growth spurt will be short-lived 1 Feb 2006 The UK payTV group may have added more subscribers than at any time in the last three years. But Sky itself says that won t last. The company says it needs to invest more in technology to keep growing. That takes some of the gloss off these results.
Compass probe yields little comfort for investors 1 Feb 2006 The catering giant aims to draw a line under allegations of corruption by disclosing the findings of an external investigation. But challenges remain. Whoever steps up to the plate as Compass's new CEO will be taking a lot on trust.
Milberg Weiss turns the tables on class action lawyers 1 Feb 2006 Classaction lawyers are often derided as greedy and unethical. Now some plaintiffs lawyers are saying the same about their own kind. The law firm s offer to share its KPMG settlement with outside lawyers is not nefarious. But it raises conflicts for those who join in.