Sinead's Feed
Jun 30, 2013

Fund firms’ boycott threat could hurt Lloyds stock sale

LONDON, June 30 (Reuters) – Just as Britain’s government is
trying to clear a path for the politically sensitive sale of its
39 percent stake in Lloyds bank, resentment is brewing among the
investors who would be expected to buy the stock.

Some fund managers say they are wary of buying stock
released in staggered sales until banks and regulators clarify
the rules on how quickly company owners are allowed to sell more
shares – a dispute that could hurt large stock offers such as
Lloyds.

Jun 26, 2013

Young funds bet big on free-spending seniors

PARIS/LONDON (Reuters) – Their birth heralded the longest phase of economic growth in living memory. Now, 65 years on, wealthy “Baby Boomers” are doing the feeble global economy another good turn, according to some fund managers.

Millions of newly-retired Europeans, North Americans and Japanese are breaking open bulging pension pots, spelling big profits for investors who can spot the companies best placed to cater to their spending habits.

Jun 21, 2013

Accounting rules mask banks’ financial health: investors

LONDON (Reuters) – Major UK shareholder groups took a fresh swipe at “unreliable” accounting rules which make it harder for them to assess the strengths of the companies they invest in.

Their call for an urgent review of the International Financial Reporting Standards (IFRS) comes after the top financial regulator upped its estimates on bank funding gaps.

Jun 20, 2013

As Glencore grows, investors ask about life after Ivan

LONDON, June 20 (Reuters) – Glencore Xstrata boss
Ivan Glasenberg, a former coal trader who has been at the helm
for over a decade, is known for his pre-dawn runs, cut-throat
competitiveness and a gruelling travel schedule that shows no
signs of slowing.

Yet while no one expects the imminent departure of
Glencore’s top shareholder – at 56, not far above the average
CEO age – the takeover of $46 billion miner Xstrata has prompted
investor questions over how a company so closely identified with
a boss will manage his succession.

May 31, 2013

PIMCO braces for euro zone debt writedowns as revival disappoints

LONDON, May 31 (Reuters) – PIMCO, the world’s largest bonds
house, is weighing up a fresh sell-off in “expensive” euro zone
debt, fearing policymakers could ask investors to forgive more
sovereign debt.

Sketching out a three- to five-year investment outlook this
week, managers at the $2 trillion fund firm said they believed
the European Central Bank was reviewing its Fairy Godmother role
in money markets after months of stubborn recession, a switch
PIMCO says could herald painful losses for complacent investors.

May 24, 2013

Severn Trent investors say would hold out for 23 stg/share bid

LONDON, May 24 (Reuters) – Any bid for British water company
Severn Trent Plc would have to be pitched at 23 pounds
per share or more to have any chance of success, top investors
said after an approach for the company earlier this month.

Investors said they would happily remain shareholders if no
such bid appears by a June 11 deadline set by the Takeover
Panel, citing Severn Trent’s secure dividend prospects, combined
with a dearth of similar investments.

May 9, 2013

An eye for a deal could replace Ferguson’s football focus

LONDON, May 9 (Reuters) – Retiring as coach of English soccer team Manchester United will give Sir Alex Ferguson, who famously described himself as “such a bloody talented guy”, more time for the other strings in his bow, including a little-known talent for investment.

The most celebrated manager in the British national game will bid farewell to a stellar career in sport on May 19, but few who know Ferguson outside the world of soccer are predicting an idle retirement for the 71-year-old Scotsman.

May 7, 2013

Diageo names Menezes CEO with eye on emerging markets

LONDON, May 7 (Reuters) – Diageo named Ivan Menezes
as chief executive on Tuesday, turning to an Indian-born company
insider whose role in the British drinks firm’s push into
emerging markets points to where it sees its future.

Chief Operating Officer Menezes, 53, replaces Paul Walsh,
who is stepping down after 13 years, the maker of Johnnie Walker
whisky said in an announcement that surprised few investors,
even if the timing of Walsh’s exit had not been certain.

May 2, 2013

UBS shrugs off break up call, with shareholder support

ZURICH/LONDON, May 2 (Reuters) – UBS won broad
shareholder backing for its strategy and pay policies on
Thursday, dealing a blow to a surprise call from activist
investor Knight Vinke Asset Management for the Swiss bank to
hive off its investment bank.

Knight Vinke’s intervention, in an open letter to UBS
management, staff and investors, was not taken up by other
shareholders during hours of questioning at the bank’s annual
general meeting (AGM) on the outskirts of Zurich.

May 2, 2013

UBS faces calls for break-up at investor meeting

ZURICH/LONDON (Reuters) – UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) faces a renewed call to break up its investment banking operations and wealth management division at an investor meeting on Thursday, after activist investor Knight Vinke Asset Management demanded a review of the bank’s structure.

New York based Knight Vinke, which owns just less than 1 percent of the Swiss bank, said its investment banking activities between 2007 and 2009 “nearly destroyed” its prized private banking business, which was still reeling from a slew of scandals during financial crisis.