Vivendi rises after improving profit forecasts and reassuring over buys

first_img Vivendi, Europe’s largest telecom and entertainment group, yesterday raised its profit targets on the back of forecast-beating first-half results.The firm also reassured investors on its acquisition strategy, lifting its flagging stock.Vivendi shares have slid to seven-year lows relative to the European market, largely underperforming peers on concerns about acquisitions, the cost of a US class-action lawsuit and intensifying competition in the French telecom sector.But chief executive Jean-Bernard Levy sought to turn the page yesterday, pledging to maintain or raise its dividend through 2012, confirming plans to buy out minority shareholders in its French telecom and pay-TV units and playing down legal risks.He said: “Vivendi is back to growth in the first half of 2010 and improves its full-year outlook.”First-half operating profit rose 12 per cent, driven by growth at French telecom operator SFR and its latest acquisition, Brazilian fixed-line telecom operator GVT.One Paris-based analyst said: “Today’s release gives confidence and visibility on the company’s businesses and confirms the fundamentals. Investors should also be comforted by the comments on the lawsuit and acquisitions like SFR.”A London-based analyst agreed: “Improving earnings momentum and the likelihood of an SFR buyout drawing nearer should push the shares higher.”Vivendi raised its 2010 guidance to an “increase” in Ebitda, compared with a previous forecast of “slight growth”. It also gave guidance on its adjusted net income for the first time, forecasting it would rise from €2.59bn (£2.15bn) in 2009.First-half operating profit rose to €3.24bn. whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK 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.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Wednesday 1 September 2010 8:03 pm KCS-content Show Comments ▼ whatsapp Share Tags: NULL Vivendi rises after improving profit forecasts and reassuring over buys last_img read more

HMV sales plunge by 10pc in World Cup blow

first_img Share Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.com Tags: NULL Music, books and games retailer HMV Group reported a 10.6 per cent fall in sales for the first quarter as the World Cup distracted customers from DVDs and books.The group, which is trying to widen its product mix with live music and ticketing, said it was pinning its hopes on a successful Christmas period.“These initiatives, combined with a stronger product line-up, particularly in games, are key to the delivery of a successful Christmas,” Chief Executive Simon Fox said in a statement.HMV added it was making progress in turning around its Waterstone’s bookstores, with improved market share performance and an improving trend in sales growth.However, consumer confidence in the UK remains fragile.Earlier this week department stores group Debenhams said it was cutting prices earlier this week in a bid to attract wary shoppers. HMV also announced the departure of Finance Director Neil Bright, who will take up the role at leisure and travel group Holidaybreak. whatsappcenter_img HMV sales plunge by 10pc in World Cup blow by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comHero WarsBig Boss of internet games!Hero Wars Thursday 9 September 2010 3:22 am John Dunne whatsapplast_img read more

US pastor cancels Koran-burning plan

first_img A CHRISTIAN pastor yesterday cancelled a plan to burn copies of the Koran at his obscure Florida church, which had drawn international condemnation and a warning from President Barack Obama that it could provoke al Qaeda suicide bombings.Defense secretary Robert Gates called Terry Jones, an obscure minister who heads the tiny Dove World Outreach Center church in the Florida town of Gainesville, to urge him not to go ahead, the Pentagon said.Following the call, Jones said that he was calling off his plan, which had caused worldwide alarm and raised tensions over this year’s anniversary of the 11 September 2001, al Qaeda attacks on New York and Washington. Thursday 9 September 2010 8:41 pm Show Comments ▼ US pastor cancels Koran-burning plan whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content Tags: NULL whatsapp Share last_img read more

Battle of the Milibands heats up as poll puts Ed in the lead

first_img Battle of the Milibands heats up as poll puts Ed in the lead Show Comments ▼ whatsapp Sunday 12 September 2010 11:01 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Sharecenter_img whatsapp FORMER foreign secretary David Miliband, long favourite to become the next head of the Labour party, has slipped behind his younger brother Ed in the leadership race, a poll suggested yesterday.The YouGov survey of 1,700 Labour and union members for the Sunday Times put the two brothers well ahead of the three other candidates hoping to lead the party.David Miliband, seen as the preferred candidate of former prime minister Tony Blair, secured the most first-choice support, with 36 per cent of the vote, four points ahead of his brother on 32.However, once second-choice votes were factored in and lower ranking candidates eliminated, Ed Miliband emerged as the winner with 51 per cent of the vote.A spokesperson for the elder Miliband remained sanguine in light of the poll, however. “We have always known it was going to be close but we are still confident we can win,” she told CityA.M. yesterday. Despite the latest poll finding, bookmaker William Hill kept David Miliband as their 4-11 favourite to win, but cut the odds on Ed Miliband from 3-1 to 2-1.Polling of Labour party members ends on 22 September. The winner will be announced at the party’s annual conference on 25 September. KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA 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.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img read more

Kraft in push to raise choc sales in China

first_img Share KRAFT Foods is aiming to double the number of Chinese cities in which it sells Cadbury chocolate within the next two years.This would mean the number of cities in China in which Cadbury products are sold will rise to about 40. The US food group would use its vast distribution network to achieve its goal. Lorna Davis, president and chairman of Kraft’s China operations, said: “China has been doubling every year, and the real challenge is to pick the right opportunities.”Davis added: “If I had unlimited resources and unlimited people, I would bring in everything Kraft has, but right now the focus is really on integrating Cadbury and growing our line of biscuits.”Kraft, the maker of Oreo cookies and its own line of cheese, bought UK rival Cadbury for $19bn (£12.3bn) in January after a controversial acquisition.Kraft is also eyeing China’s breakfast market to push items such as cakes and pop tarts, Davis said, as it tries to move consumers away from their usual fare of noodles, rice congee or meat buns.“There’s a hole in the breakfast market now and we’re moving to fill it,” she said. “The problem is that Chinese supermarkets traditionally haven’t had a breakfast section, and you don’t want to put it in the cereal section where traffic is low. So there’s a bit of trial and error right now.”Revenue at Kraft China has quadrupled in the past four years. Davis said she expected the trend to continue as per capita consumption of its products remains low compared with most developed markets. Kraft in push to raise choc sales in China whatsapp KCS-content whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULL Show Comments ▼ Monday 13 September 2010 7:49 pm More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell 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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

Banking bosses call on the City to work together to restore industry reputation

first_img Share LEADERS of the UK banking industry are this morning set to gather at the Mansion House for a summit to discuss ways to help the City rebuild public trust in the industry following the excesses and risk-taking of the pre-crisis years.Lord Mayor Nick Anstee will be joined at the event by banking scions such as Barclays chairman Marcus Agius, Lazard chairman Ken Costa, RBS chairman Sir Philip Hampton and Sir Win Bischoff. Figures from the areas of regulation, politics and religion are also set to attend, including Financial Services Authority chief executive Hector Sants, TheCityUK’s Dame Clara Furse, former Treasury Select Committee chairman Lord McFall and Paul Tucker, deputy governor for financial stability at the Bank of England.The attendees will call on the City to take an active role in restoring the industry’s image by collectively finding solutions to address problems with its corporate culture, remuneration policy and attitude towards customers.“We have a big job to do,” Anstee will tell the delegates. “To guarantee that unethical behaviour is inexcusable and that reckless risk taking is not acceptable and will be treated as such, so that our reputation is unassailable.” More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsapp Banking bosses call on the City to work together to restore industry reputation Show Comments ▼center_img Tags: NULL 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.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Sunday 3 October 2010 10:59 pm whatsapp KCS-content last_img read more

Axiom set for Dubai flotation

first_img Share United Arab Emirates handset retailer Axiom Telecom said yesterday it expects to debut on Nasdaq Dubai in early December with a market value of up to $1bn (£630m) after selling up to a third of its shares to institutional investors.In what would be the first initial public offering from the UAE in nearly two years, Axiom set the share price range between $0.80 and $1.15. The first day of trading will likely be on or around 9 December.When the retailer announced plans in October to list a 35 per cent stake on Nasdaq Dubai, it was not decided what portion of the shares would be allocated to retail investors and how much would be reserved for institutional investors.The company said, however, the IPO will not be available to retail investors.“The IPO is only being directed at, and made available to, certain institutional investors,” Axiom said in a statement. “It is not being made available to the general public.”But given broader interest, one broker said he expects retail investors to actively seek shares once they list.“Retail investors want to diversify — many are sitting on cash and are sceptical about entering into real estate-related stocks, while the telecoms sector has done comparatively well, even through the financial crisis,” said Vyas Jayabhanu, head of investments at Al Dhafra Financial Broker. KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.com Show Comments ▼ whatsappcenter_img 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp Monday 22 November 2010 5:30 am Axiom set for Dubai flotation Tags: NULLlast_img read more

Spotify could miss Christmas US launch

first_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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo Show Comments ▼ KCS-content Spotify could miss Christmas US launch Tuesday 23 November 2010 7:12 pm Spotify’s US launch is being met with increasing scepticism by analysts.The music streaming service said this week it will press ahead with its plans to launch in the US before Christmas, despite announcing a full-year loss of £16.7m for 2009.“I’d be very surprised if they manage to pull this off in the timeframe they are talking about,” Ben Rumley of Enders Analysis told City A.M. “They have been talking about a US launch for a very long time now but negotiations are moving very slowly. The stumbling blocks are the same as they were six months ago, I can’t see what has changed.“The US is a nice headline place to launch but it isn’t necessarily right for this business. There have been other players over there for almost eight years who have seen little success. Despite their losses last year, the business in Europe is growing. There is a feeling it should concentrate on Europe before attempting a US launch.”There is speculation the firm may attempt to press ahead with a low-key launch, which may exclude tracks owned by one or more of the big four US labels. Spotify says it is still in negotiations with all four.The firm said in accounts released this week that it is in negotiations for extra funding to support its growth plans.Despite gathering a subscriber base of more than 10m – around five per cent of whom pay for the premium service – Spotify has been dogged by rumours it will collapse under the weight of its royalty payments. This was highlighted by auditor Ernst & Young, which noted “material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern.” center_img whatsapp whatsapp Share More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: NULLlast_img read more

City should lead globally and show benefits locally

first_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 PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.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 FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndo whatsapp Tags: NULL The Square Mile and London are key international assets for the UK, generating export earnings, taxes and corporate profits. But the business that is done in the City and in other centres throughout Britain has a major domestic impact and we must look to maximise this.Therefore we need to find ways of sharing the City’s success more directly with the public across the UK, so that more people feel that having a global financial centre based here is good for us all. In other words, the City should lead globally and demonstrate its benefits locally.The fallout from the financial crisis has raised the stakes: it is no longer enough for us to simply highlight the billions generated for the UK exchequer, paying for schools, hospitals and roads.Instead, we must point to the direct and tangible benefits of London’s position as a world leading financial hub. One of these is how we share capital and business with other domestic centres. This is very much an interdependent relationship – the capacity and functions provided by other cities are vital to our continued success and vice versa.This underlines the fact that the City is about more than just the Square Mile: the UK financial services industry is a national brand – not just a London one.That is why I am this week visiting two major drivers of economic growth in the North-west – Liverpool and Manchester.Manchester today employs nearly a quarter of a million people across the sector and is fast establishing a reputation as the European capital for lower to mid-market private equity. The city region is also home to over 60 banks, over half of which are foreign owned.Liverpool, likewise, makes a substantial contribution to the North-west and the UK. Indeed, it is the leading centre outside London for wealth management services and has a particularly strong maritime tradition.I am keen to stress that Manchester, Liverpool and other UK financial centres should not be seen as separate from the City but rather as integral parts of it – we share the same regulator and our businesses are tied together.Our connectivity makes us all stronger. It also helps to spread wealth across the country, with two-thirds of the one million financial services jobs throughout Britain based outside of London.I have a background in the demand side of the financial markets. As a result, I have seen first-hand the transformation of local communities such as Spitalfields by funding and advice from the City of London. Financial and professional services are the cement that binds the UK economy together. My job is to speak for the City and – as a builder and property man – make sure it’s standing on strong enough foundations to support the wider recovery on both a global and local level. Michael Bear is Lord Mayor of the City of London Share Sunday 5 December 2010 10:59 pmcenter_img KCS-content Show Comments ▼ City should lead globally and show benefits locally More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com whatsapplast_img read more

BTG Pactual raises $1.8bn

first_img Share Monday 6 December 2010 8:18 pm BTG Pactual raises $1.8bn 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsappcenter_img Tags: NULL Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga 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 Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof BTG PACTUAL, the Brazilian securities firm controlled by billionaire Andre Esteves, raised $1.8bn (£1.1bn) yesterday from a group of international investors to bolster its balance sheet and help fund future expansion.Sao Paulo-based BTG Pactual sold an 18 per cent stake to some of the biggest sovereign wealth funds in Asia and the Middle East as well as investors in Europe and North America.The deal is the latest sign of intense investor interest in Brazil, where a boom in consumer spending and credit is lifting tens of millions of people into the middle class. Sovereign wealth funds, eager to find high-yield investments at a time of global economic trouble, have been particularly keen to expand their presence in Latin America’s largest economy.The capital injection will bolster BTG Pactual’s shareholders equity to $4.3bn, helping the firm gain muscle to grow in coming years and offer lending to clients as part of takeover deals.The group of investors included affiliates of the Government of Singapore, China and the Abu Dhabi Investment Council. US buyout firm JC Flowers, Exor, an investment holding company controlled by Italy’s Agnelli family, and Inversiones Bahia, an investment vehicle for the Motta family of Panama, were also part of the group. BTG Pactual had considered an initial public offering to raise the funds, but postponed the plans because of volatility in global markets. Esteves said an IPO was still possible in the medium-term. Esteves sold the firm to Swiss bank UBS in May 2006 for about $2.5bn. He and some partners bought back Pactual last year for about $2.5bn. KCS-content last_img read more