Monthly Archives: January 2004
State Street deal threatens Abbey National funds division; Scottish staff may be shed if (pounds) 28bn of assets are outsourced
FEARS are growing that Abbey National will outsource management of its (pounds) 28bn of funds to US giant State Street, thereby axing its investment division in Glasgow and dealing a devast-atingblow to the city’s financ-ial sector ambitions. A tip-off that […]
Hedge Funds Finish Year with 18.2% Net Gain; Van Global Hedge Fund Index Posts Preliminary December Return of 2.3% Net
The Van Global Hedge Fund Index rose 2.3% net of fees in December and ended 2003 with an 18.2% net gain, according to preliminary results announced today by Van Hedge Fund Advisors International(VAN). The Index reflects the average net return […]
Yell has something to shout about
Shares in Yell, the UK phone directory publisher, rose some two per cent yesterday after the group’s two private equity investors confirmed they had sold their combined 34 per cent stake. The quicksale removed uncertainty that would have overhung Yell’s […]
INDIAN ECONOMY ON ROCK-N-ROLL MODE: IMPLICATIONS FOR HEDGE FUNDS
WEST PALM BEACH, Florida (HEDGECO.NET) – 2003 ended on a sound note in India as the Indian Stock Exchange in Bombay closed up 1.88 percent at 6,026.59 points. The intra day high was 6034.38 points,about 100 points away from its […]
Dollar drops to new depths
AS America’s political and business leaders take their New Year break on the ski slopes of Colorado, they might see a small but growing mass of snow approaching. This is the falling dollar, whichcould become an avalanche. It slumped nearly […]
Will Viking bank raider finally carry off Singer?
COULD this be the year that Singer Friedlander finally loses its independence? It has stood firm for years while many of its UK merchant banking rivals were picked off by foreign predators. Dealers believe the day is fast approaching and […]
Black under pressure to give up Hollinger chair
EMBATTLED Press baron Lord Black is facing mounting pressure from members of Hollinger International’s star-studded board to resign as chairman. Black quit as chief executive of the US newspaper group in November after an internal probe revealed that he and […]
Bookies take a pounding as dollar dive threatens to pick up speed ; City Trader
LONDON businessman Nicholas Gentilli has noticed the pound’s surge up to more than $1.80 against the US currency in recent weeks, and is intrigued by it. “My experience is of the exchange rate in the $1.40s, not the $1.80s,” he […]
The Boston Globe Downtown Column
Jan. 7–We honor all kinds of people, and why not? There is no shortage of good work being done. There are Nobel Prizes for those who have done extraordinary work in the sciences, medicine, and economics, and Pulitzer Prizes for […]
The Philadelphia Inquirer Andrew Cassel Column
Jan. 7–Many charming localisms adorn the speech of Philadelphians: “down the shore,” “cheesesteak ‘wit’ ” — ordinary words or phrases that have special meaning when we say them here. And I’ve just discovered a new one. Turns out the words […]
Private equity firms sell pounds 700m Yell stake
APAX PARTNERS and Hicks, Muse, Tate & Furst, the private equity funds, sold their remaining stake in Yell, the Yellow Pages directories group, last night, more than doubling their investment injust over two years. A rapid 90-minute share placing by […]
UK hits dollar danger zone
US policymakers appear remarkably relaxed about the plunge in the dollar, which dropped to new lows against the pound and the euro yesterday. The reasons for its decline are well-rehearsed. The American economy is in good shape, but low interest […]