Help wanted: Equity bridge syndicate chief 2 Mar 2007 A top investment bank is looking for a senior executive to start a new business selling slices of LBO deals to investors ASAP. The ideal candidate has contacts at hedge funds, pension firms and institutions. Pay is unknown. Risks are high. Job stability is nil.
Thailand’s government is getting into a corner 1 Mar 2007 It can t find a finance minister and is threatening to seize Singaporeowned Shin Telecom. The economy is slowing, worsening its chances at promised elections. The probability of chaos and longterm decline is on the rise.
Incorporation hasn’t been bad for Cazenove partners 1 Mar 2007 True, the expartners of the UK stockbroking firm haven t exactly made a mint out of the shares they received for the business back in 2001. But they are better off than if they stayed put. Incorporation saved Caz from genteel decline. And the firm's fortunes are now looking up.
London hedge funds should consider Jersey 1 Mar 2007 The Channel Island tax haven is making a big push for hedge funds to relocate with a tempting package of low corporate taxes. Shrewd Londonbased funds will be tempted. After all, if you re based in a nice place, your employees are less likely to run away.
What exactly should buyout houses disclose? 1 Mar 2007 Blackstone s Schwarzman, Carlyle s Rubenstein, and Permira s Buffini all agree: private equity needs to be more transparent. Now they ll have to clarify what they are prepared to make public. Here are some ideas.
Commerzbank tries to end disastrous Jupiter saga 1 Mar 2007 The German bank valued the UK fund manager at £2bn in 2000, but will be lucky to sell it for £700m now. That s a 65% loss. Commerz couldn t hold onto Jupiter s star manager, John Duffield. He left to form a rival which now has a £1.3bn market cap.
It’s time for investors to play safe 1 Mar 2007 As Greenspan inimitably observes, risk is no longer perceived as a major risk. But that could change when the business cycle turns. At that point, stocks with higher quality earnings should outperform smallcaps and other risk assets.
Larry Ellison has struck again 1 Mar 2007 For the 30th time in three years, Oracle s boss has bought another company this time Hyperion for $3.3bn. He may just be getting started. Ellison has been banging the drum for rationalising the sector. And the likely returns from his latest purchase show why.
Western manager tussles with Russian oligarch – and loses 1 Mar 2007 But what else would you expect? Especially as Brian Gilbertson was undermined at giant Russian miner Sual by his own ambition. His departure is a mixed blessing. He wasn t the best man to lead Sual s IPO. But his exit also highlights who has the whip at the group.
Reuters is growing just fine 1 Mar 2007 The information provider is no longer a jam tomorrow story. The big investment is over. Revenues grew a healthy 4.8% last year. Reuters expects growth of at least 6% this year. If anything, its margin control Reuters' forte could be stronger.
Big insider scandal shows rules are working 1 Mar 2007 Indictments at brokers and hedge funds over leaked rating changes will cause pain on Wall Street. But it s exactly what the markets needed. A political backlash is the big risk. But this case shows the rules are adequate. It s enforcement that may have been lacking.
Obermann’s fix for Deutsche Telekom misses the mark 1 Mar 2007 The German telecoms group s new boss may have fluffed his big chance to get investors back onside. He s ducked DT s real problem job cuts. While raising cash from unwanted assets looks sensible, proposing to blow it on outoffootprint deals may not be the best use of the money.
M&S gaffe shows dilemma over Sainsbury’s 1 Mar 2007 Stuart Rose s hint at a bid for rival Sainsbury s and the speedy uturn suggest a tough choice for the UK retailer. A deal with Sainsbury s could, on paper, be the best thing for M&S. But it could also be the worst, not least for Rose himself.