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first_img Share Show Comments ▼ KCS-content Tags: NULL HEDGE FUNDSEUROPEAN finance ministers have agreed tough new rules for hedge funds and private equity houses, although the regime will not be as strict as many in the industry feared. The directive, agreed in Luxembourg yesterday afternoon, will force alternative funds to comply with a costly registration regime, as well as subjecting them to restrictions on remuneration and tougher capital requirements. All alternative funds, including property funds, will have to comply. However, the new regime will enable fund managers to market their funds across the 27-member EU bloc rather than applying for individual permission from each member state.And in an important victory for London’s hedge fund industry – most of which is based offshore for tax purposes – these pan-European marketing rights will be made available to non-EU funds that apply for a “passport”. The French had wanted to force non-EU funds to apply for marketing rights from each individual member state, which would have proven too costly and burdensome for some smaller firms. However, the new passport scheme will not be up and running until two years after the rules come into force, most likely around 2015. Until then, funds will need to apply for marketing rights on a country-by-country basis. France had also wanted the passport scheme to be policed by the new Paris-based European Securities and Markets Authority, but this demand was again vetoed by other finance ministers. Once funds have received authorisation from a national regulator, in Britain’s case the FSA, they will be given an EU-wide passport. Mark Hoban, the financial secretary to the Treasury, said the final set of rules were a “good outcome for the sector and investors”. “Given where we were in May, when we picked up a hospital pass from the previous government, this is a good agreement,” he told City A.M. And trade body AIMA also said the impact of the text agreed by finance ministers yesterday would be “be far less severe than” first thought. whatsapp 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 Tuesday 19 October 2010 8:23 pm whatsapp Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap EU hedge fund rules not as bad as feared last_img read more

first_img 279,000 business closures reported Wednesday 1 December 2010 8:21 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel 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.com Share BUSINESS closures have hit their highest level for ten years, according to figures the Office of National Statistics (ONS) released yesterday.Closures were up 26 per cent in 2009, amounting to 279,000 companies winding up their operations.Research and development (R&D) was also down in 2009, by 4.1 per cent, the ONS announced.This week the government said it would cut corporation tax to 10 per cent on UK produced patented goods.The plans were criticised by the Institute for Fiscal Studies, who said it would harm tax receipts and add complexity to the tax system.But Alec van?Gelder of the think tank International Policy Network said the policy would “stimulate innovation, investment, and jobs.” whatsappcenter_img 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 The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity 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 HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo whatsapp Show Comments ▼ KCS-content Tags: NULLlast_img read more

first_img Show Comments ▼ KCS-content CHANCELLOR George Osborne has said that Britain will be free of its commitment to fund Eurozone bailouts by 2013, even as the European Council (EC) meets today to negotiate the legal basis of a permanent bailout fund. The EU summit comes as the Irish parliament voted yesterday to accept the terms of the €85bn (£72bn) EU/IMF bailout. The vote underscored Prime Minister Brian Cowen’s fragile grip: the bailout passed 81-75, with the governing coalition relying on the support of three independent MPs. Opposition parties have sworn to renegotiate the bailout if they win next year’s elections.Osborne announced that Britain stands to make £440m from interest on its £3.25bn bilateral loan to Ireland. But he also assured parliament that he has struck a deal to free Britain from its participation in Eurozone bailouts once a permanent fund is established in 2013. The UK is obliged to contribute up to €7bn for any bailouts until then under the terms of a deal negotiated by former-chancellor Alistair Darling.The European Council meets today and tomorrow to alter EU treaties in order to establish a permanent fund. UK to be free of bailout commitment from 2013 Wednesday 15 December 2010 8:38 pm Share Tags: NULL whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img read more

first_img Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Don’t panic over disastrous GDP data MEA culpa. The dramatic extent of yesterday’s collapse in reported GDP took me by surprise, though I realised a couple of weeks ago that the slowdown was sharper than previously thought. That the data confounded every professional forecaster polled by news agencies, as well as the Bank of England and all political parties, is only a partial excuse. So why did the ONS say that the UK shrank by 0.5 per cent, led by construction and the snow? And crucially does this imply a double-dip recession – something I have long argued would not happen – or a largely weather-related blip? We won’t know for sure until we start getting January figures – the first indication earlier this month that there was a problem in December came from the services purchasing managers’ index, which abruptly collapsed. If the survey remains negative, we will be in trouble; if not, then the fourth quarter will turn out to be what I think it really was – a bump in the road to recovery, similar to those we always see in upturns, exacerbated by our pathetic inability to cope with snow.Yesterday’s data was even more preliminary than usual. The ONS admitted that much of it was really guesswork. I have long thought that it would be better to wait a bit longer before providing the markets (and journalists) with absurd, incomplete figures which are always revised upwards, generally by about 0.2 percentage points. I well remember the last shock, for the fourth quarter of 2009: the consensus was for growth of 0.4 per cent – the first estimate came in at just 0.1 per cent. In the end, however, the data was revised up to 0.5 per cent. This is an almost scandalous indictment of current data release practices and proof that yesterday’s data should be taken with a bucket of salt. Even more than the overall figures, the composition of growth is always revised drastically. When one looks at third quarter 2010 numbers in detail, one soon realises that the components have completely changed. All the early analysis produced by the City and the media turned out to be worthless. Business surveys, even for December, do not indicate anything like as much weakness in GDP as the ONS reports.The ONS thinks that without the snow there would have been zero growth – I suspect that the end result will be to show that the underlying expansion was a little better than that. Another sign of relative strength: government revenues rose to £39.3bn in December compared to £37.8bn the previous year; clearly, despite the reversal of the VAT cut, this means the economy didn’t collapse. Yet it would be wrong to deny the existence of a slowdown: parts of the economy clearly paused for breath, probably from November, the weak employment figures suggest.As the EEF points out, in the few years following the recession in the 1980s quarterly growth rates oscillated between -0.7 per cent and 1.5 per cent. Up until the third quarter of 2010, growth coming out of the recession was faster than in the 1980s or 1990s. GDP is now 2.2 per cent higher than it was at the end of the recession – a weaker recovery than in the 1980s but a stronger one than the 1990s. The government should stick to its austerity plans, which did not cause yesterday’s supposed slump and which are the only way to prevent a sovereign crisis. It is not (yet) time to panic or predict a new recession – but you will be the first to know if I change my [email protected] me on Twitter: @allisterheath Tuesday 25 January 2011 9:40 pm whatsappcenter_img Share KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULLlast_img read more

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Sunday 20 February 2011 10:16 pm whatsapp Show Comments ▼ 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Sharecenter_img BUDGET hotel chain Travelodge is set to report a 13 per cent sales growth for last year, with a forecast for further expansion this year.The chain will today announce like-for-like growth of six per cent, led by 11 per cent growth in London, and a total of 7.2m room sales, with 13m customers, up 12 per cent from the previous year.Chief executive Guy Parsons said that, despite the impact this year of the VAT increase and fuel and energy price rises, 2011 trading is in line with management expectations and the firm was “confident on the longer term outlook”.Parsons said: “Despite the tough climate in 2010, we have delivered a robust performance whilst continuing our strategic UK growth programme and demonstrating Travelodge’s continued strong recovery.“We served record numbers of customers, grew total sales and opened 70 new hotels in excellent locations, targeting sites that would have been beyond our reach before the recession. The deal with Mitchells and Butlers, which saw us acquire 52 of their hotels, shows the innovative approach we have taken towards our aggressive growth plans.“With a continued focus on driving growth this year, we have already opened four hotels and are currently building a further 36 hotels. We are creating 725 new jobs, and ensuring we are well on track to reach over 1,100 hotels and 100,000 rooms by 2025.”Over the last five years Travelodge has focused on city centre growth in an effort to move away from roadside locations. Eighteen per cent of its rooms are now in London, with 62 per cent in major towns and cities and 20 per cent in the traditional motorway or roadside spots. Travelodge, which has 450 hotels in the UK and 13 abroad, said 87 per cent of reservations were made at travelodge.co.uk last year, with rates starting at £19. whatsapp Travelodge sales grow 13pc KCS-content Tags: NULLlast_img read more

first_imgSunday 6 March 2011 10:20 pm THIS year has started well for activist investors, those outspoken stake-builders that push boards to buck up their strategy.2011 has kicked off with a spate of high profile public exchanges between funds and their targets.Activists claimed their first major scalp last month when Sherborne Investors ousted City veteran Nick MacAndrew from the chair of F&C Asset Management.Elliott Advisors is eyeing transport group National Express; Kesa Electricals is under fire from Knight Vinke, and Alliance Trust is a target of hedge fund Laxey Partners.And in January City A.M. broke the news that media group Mecom’s shareholders, including Aviva Investors and Legal & General, had followed the removal of its founder David Montgomery by dismissing the group’s chair, Alasdair Locke. But the negotiations that make it into the public arena are the tip of the iceberg. Discussions between activist investor and board can begin before shares are even bought and continue through degrees of pressure – Crystal Amber’s decision to publicly vent its concerns over film studio Pinewood Shepperton’s performance last year was the first and only time it has taken a dispute public. Activism is bouncing back from a fall-off in deals in 2008 and 2009, and investors are piling money into activist funds as risk appetite returns. About 60 pure activist hedge funds managed $47bn (£29bn) of funds globally at the end of 2010, up from to $36bn in 2009 but still a long way behind pre-crisis levels of more than $54bn in 2007.And the stock market recovery has exposed companies that still trade at a discount to their peers – making them a visible target for activists. “We find companies with good cash flows and strong asset backing that have been neglected by the market and try to engineer a re-rating,” Crystal Amber director Richard Bernstein told City A.M.Large cash piles amassed by many corporates since the recession are another factor. Shareholders are keen these are put to good use, and prepared to speak out if not.“If companies are sitting on a lot of cash and don’t deploy it to increase shareholder value they are going to attract the attention of activist investors to pressure them to engage in endeavours that will unlock that value,” Kenneth Heinz, president of Hedge Fund Research, told City A.M.But regulation is also a factor – and it is broadening the base of investors that can arguably be named activist. After a financial crisis that threw corporate governance failings into sharp relief, governments are using new regulation and guidance to involve investors more in firms’ behaviour.“There is rising investor activism – but there is a difference between it happening, and activist funds doing it,” Bernstein said. From the revamped Corporate Governance Code to the new Stewardship Code to encourage better dialogue between boards and investors, regulators are trying to force even long term, blue-chip asset managers to think like activists. “Shareholders are feeling they are being positively empowered to engage in talking to boards,” Richard Spedding of law firm Travers Smith told City A.M., adding that anecdotal evidence showed large companies increasingly putting directors up for election annually. “It provides activists with an easy target as they don’t have to call an extraordinary meeting,” he said. It means fund managers such as Neil Woodford of Invesco Perpetual, who stormed the board of Omega Insurance last year to oust chairman Walter Fiederowicz, and four directors, are just as likely as Laxey to be making noise.And with more investors acting like activists, 2011 may prove to be the best year for the phenomenon yet.TIME LINE | ACTIVIST INVESTORSFebruary 2011: F&C Asset ManagementSherborne Investors won the support of more than 65 per cent of F&C’s investors, including key shareholder Aviva Investors. Chairman Nick MacAndrew and director Brian Larcombe were ousted, replaced by Sherborne’s founder Edward Bramson and two others.September 2010 / January 2011: MecomMecom’s founder and chief executive David Montgomery said he would resign in September after more than half its shareholders applied pressure. He finally stepped down in January after investors threatened to call an extraordinary meeting to make him leave. Investors later sent chairman Alasdair Locke packing.March 2010: Omega InsuranceInvesco Perpetual led a shareholder revolt against the Omega board after founder John Robinson left the firm in 2009. Chairman Walter Fiederowicz and four directors were ousted. January 2010: Mitchells and ButlersRebel shareholders including billionaire Joe Lewis and Irish investment vehicle Elpida threw chairman Simon Laffin off the board after eight weeks. Two thirds of shareholders voted for his removal after he fired four directors. 2008 and 2005: Deutsche BoerseHedge funds Atticus and The Children’s Investment Fund Management (TCI) terrorised the exchange for four years, ousting chairman Rolf Breuer and chief executive Werner Seifert after disputing its bid for the London Stock Exchange. In 2008 chairman Kurt Viermetz resigned. 2007: ABN AmroTCI also intervened in the Dutch bank, calling for it to sell assets or merge with another bank to unlock value. ABN was eventually sold – the bidding war for the bank led to its highly-leveraged €72bn (£61.3bn) sale to RBS, Fortis and Banco Santander. This was a good deal for ABN Amro shareholders but a disaster for RBS. 1990-2004: variousArguably the leading lights of shareholder activism for more than a decade, Julian Treger and Brian Myerson tackled companies from Aquascutum to Pilkington through their Active Value fund. Share KCS-content whatsapp Show Comments ▼ whatsapp Activist investors eye bumper 2011 as market improves by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. 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first_img CENTRICA has reported that its North American subsidiary, Direct Energy, has agreed to acquire the New York-based energy retailer Gateway Energy Services for $90m (£55m) in cash.Gateway has more than 275,000 gas and electricity customer accounts, located mainly in New York State, New Jersey and Pennsylvania.This acquisition will further strengthen Direct Energy’s position as a leading competitive energy retailer in North America, increasing its residential and small business customer relationships to more than 800,000 in the US. Chris Weston, president of Direct Energy, said: “Competitive retail markets in the North Eastern United States provide us with opportunities to grow.” Share Tags: NULL Monday 21 March 2011 8:51 pm More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp Centrica’s US unit agrees to buy New York rival for £55m in cash center_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OracleUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyWise.comThe Worst College In Every US State, RankedMoneyWise.comUndoZen HeraldShe Inspired Three Of The Most Popular Songs EverZen HeraldUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.netUndo KCS-content Show Comments ▼last_img read more

first_img whatsapp HEDGE fund manager Man Group surprised the market with a mixed results update yesterday, meeting some targets but missing others and writing off $375m (£234m) in impairments.Man will hold $69bn in funds under management at the end of March, above forecasts of $68bn, but has attracted just $700m (£437m) in net fund inflows in the current quarter, below expectations of $1.2bn.Its pre-tax profit of $560m is reduced to $280m once a $375m goodwill impairment charge from its multi-manager business is included, it said in its pre-close trading update. The $560m was exactly in line with consensus analyst forecasts and the same as it made in 2009, it said. The impairment charge was due to expectations of lower sales in that division.Chief executive Peter Clarke said Man had “fundamentally reshaped” its business in the period.The world’s largest listed hedge fund group has returned to positive fund inflows after two years of net outflows following poor performances in its computer-programme-driven funds. It said its $1.6bn acquisition of rival GLG, was designed to make it less reliant on both Man AHL, its computer-based business as well as revenues from its stake in successful niche fund manager BlueCrest.Its sale last week of its 25.5 per cent BlueCrest stake back to the company has pushed its regulatory capital to $850m while net cash grows to $900m, it said. Performance fee income came in ahead of estimates at $145m, but less volatile management fee income was lower than expected at $415m. Singer Capital analyst Sarah Ing said the statement contained “mixed messages”. 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 PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Tags: NULL Share Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content center_img Show Comments ▼ Tuesday 29 March 2011 8:44 pm Man Group sees positive fund inflows whatsapplast_img read more

first_img Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof KCS-content Monday 25 April 2011 10:33 pm BEST OF THE BROKERS RUSHYDROGoldman Sachs has upgraded the hydroelectricity company to “buy”, seeing its underperformance in the year to date as an opportunity to invest. The broker thinks the market has overreacted to the news flow on regulatory pressure on electricity tariffs and the risks associated with M&A activity, and expects an 18 per cent increase in earnings before tax in 2011 compared to 2010. Its 12-month price target increases 24 per cent to $7.80 (£4.73). RECKITT BENCKISERNomura rates the consumer goods giant “buy” with a target price of 3800p following its first quarter results last week, which saw core sales growth broadly in line with expectations and core earnings before tax slightly ahead of expectations. Most importantly, the brokers sees the company’s health and personal care brands having returned to good growth and developing market margins back in positive trend, having caused concern last year. SHIRE PHARMACEUTICALSCredit Suisse rates the pharma giant as “overweight” with a target price of 1900p ahead of first quarter results due out this Thursday. The broker expects an unusually strong performance from key product Adderall XR, driven by a sharp increase in volumes over the quarter. Attention deficit hyperactivity disorder (ADHD) treatment Vyvanse should also benefit with an increase of 16 per cent year on year, as ADHD drugs continue to outperform. center_img whatsapp whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Tags: NULLlast_img read more

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.com Show Comments ▼ whatsapp Tuesday 26 April 2011 4:35 am Virgin Active in deal for Esporta John Dunne Tags: NULLcenter_img whatsapp Virgin Active is to buy 55 Esporta Gyms in a £77.6m dealThe company has 71 fitness clubs and is on the expansion trail. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldlast_img read more