Sinead's Feed
Jan 20, 2013

Ethical investors step up focus on tax avoidance

LONDON (Reuters) – Growing anger at aggressive tax avoidance by big business has prompted ethical investors to consider shunning shares in companies that don’t pay their fair share of tax.

As governments struggle to balance massive budget deficits caused by the financial crisis, reports that big companies like Apple (AAPL.O: Quote, Profile, Research, Stock Buzz), Google (GOOG.O: Quote, Profile, Research, Stock Buzz) and Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) pay minimal taxes in some big markets have sparked public protests in Europe and the United States.

Jan 17, 2013

Investors accept a share of the blame for Rio’s woeful takeovers

LONDON, Jan 17 (Reuters) – Top shareholders in crisis-hit
Rio Tinto have identified an unusual scapegoat for the
hapless takeovers that triggered the company’s eye-watering $14
billion writedown – each other.

Chief Executive Tom Albanese, who led a top-dollar purchase
of the Alcan aluminium group, and Doug Ritchie, the executive
who secured Mozambican coal business Riversdale, both lost their
jobs on Thursday after Rio confessed how badly their deals had
turned sour.

Jan 9, 2013

Short-sellers circle stocks as confidence wavers

LONDON (Reuters) – How durable is the Wall Street bounce following last week’s U.S. budget deal? Not very, some speculators believe.

Hedge funds are betting that a rally in U.S. stocks after a retreat from the “fiscal cliff” will reverse as doubts grow that politicians are ready to sacrifice party interests to keep the world’s economic engine running, early data shows.

Dec 21, 2012

Apax Partners sets deadline for fundraising effort -source

LONDON/NEW YORK (Reuters) – Apax Partners LLP has told its private equity investors it will stop fundraising for its latest buyout fund in March and may not reach its initial 9 billion euro ($11.9 billion) fundraising target, a person familiar with the matter said on Thursday.

The London-based private equity firm has been trying to address investors concerns over fund performance as well as staff turnover, after Reuters reported in June that more than half of its senior dealmakers left over the last five years.

Dec 20, 2012

UBS faces fight to uphold reputation among super-rich

LONDON, Dec 20 (Reuters) – Private clients who have stood by
UBS through repeated scandals will have their faith
tested by the Swiss bank’s admission of rate rigging, investors
say.

Chief executive Sergio Ermotti is winding down much of UBS’s
riskier investment banking arm and believes a return to managing
money for the global rich will allow it to earn its way out of
trouble.

Dec 19, 2012

Top UBS shareholder pins rebound hopes on private wealth

LONDON (Reuters) – UBS’s wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.

Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat to the bank’s near-term earnings, even if its core private banking franchise escaped permanent harm.

Dec 13, 2012

Analysis: New AstraZeneca boss can’t dodge taking risks

LONDON (Reuters) – AstraZeneca’s (AZN.L: Quote, Profile, Research, Stock Buzz) new CEO Pascal Soriot needs to take risks if he is to replicate the kind of turnaround pulled off by Bristol-Myers Squibb (BMY.N: Quote, Profile, Research, Stock Buzz) – another drugmaker down in the dumps a few years ago.

The former Roche (ROG.VX: Quote, Profile, Research, Stock Buzz) executive is preparing to invest in deals and fast-track some research projects, but given the group’s poor track record in finding winners, he will also have to work hard to keep shareholders on side.

Dec 12, 2012

HSBC: How Simple Became Complicated, and costly

LONDON (Reuters) – HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke inside and outside the firm that the name stands for “How Simple Became Complicated”.

That complexity in part explains how the London-based bank ended up with the biggest fine ever imposed on a financial firm by U.S. regulators on Tuesday – an eye-watering $1.9 billion – after a lengthy U.S. probe showed sweeping problems at the bank. Lax controls had left HSBC as the “preferred financial institution” for drug traffickers and money launderers, U.S. prosecutors said this week.

Dec 12, 2012

How Simple Became Complicated, and costly

LONDON, Dec 12 (Reuters) – HSBC takes its name from
its roots as the Hongkong and Shanghai Banking Corporation, but
there has long been a joke inside and outside the firm that the
name stands for “How Simple Became Complicated”.

That complexity in part explains how the London-based bank
ended up with the biggest fine ever imposed on a financial firm
by U.S. regulators on Tuesday – an eye-watering $1.9 billion -
after a lengthy U.S. probe showed sweeping problems at the bank.
Lax controls had left HSBC as the “preferred financial
institution” for drug traffickers and money launderers, U.S.
prosecutors said this week.

Dec 6, 2012

Government truce won’t save EADS from state meddling-investors

LONDON (Reuters) – An accord at EADS won’t end state meddling or bring in new investors who have so far avoided the aerospace group for its political risks, some of its independent investors said on Thursday.

They said the deal, which winds down a Franco-German power sharing accord and will increase the company’s “free float” of readily tradable shares, will not take EADS off the political agenda.