Markets
London - The FTSE 100 fell 16.01 points to 5,195.28 on Friday as declines by mining companies offset a rally in BG Group Plc. Xstrata Plc, the largest exporter of coal used for power, retreated 3% to 1081.5p as aluminium, copper, lead, nickel and tin dropped on the London Metal Exchange. Kazakhmys, Kazakhstan’s biggest copper producer plunged 4% to 1141p. BG Group Plc, the U.K.’s third-largest natural gas producer, surged 6 percent to 1,091.5 pence, its largest gain since March 2009, as investors speculated that it may become the next natural resources company to attract a takeover bid. Royal Dutch Shell Plc may be considering a 1,600 pence-a-share cash bid for Reading, England-based BG, the Daily Mail reported, without saying where it got the information.

Posted: August 23rd, 2010 under Asset Management.
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A T-Mobile employee, who stole customer data from T-Mobile and sold it on to one of their competitors, was prosecuted recently in relation to this data theft and breach of s55 of the Data Protection Act which prohibits the unlawful obtaining of data.  T-Mobile itself escaped punishment by reason of the fact that they had [...]

Posted: August 20th, 2010 under Miscellaneous.
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Below is a summary of the BSkyB case against EDS, which eventually settled with EDS (now HP) paying BSkyB £318million, against BSkyB’s claim for around £700million.  The case is a warning to all IT and management consultancy firms, to train their staff in the effects of over-promising during a tender process.  BSkyB issued an invitation [...]

Posted: August 20th, 2010 under Miscellaneous.
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Markets
London - The FTSE 100 was led lower by commodity producers yesterday, falling 91.58 points to 5,211.29. Vedanta Resources, which agreed to buy control of oil explorer Cairn India Ltd., dropped 4.8% to 2073p, following a decline in base-metal prices. BHP Billiton Ltd. fell 2.2% to 1810p and Xstrata Plc slid 2% to 1050p. United Utilities fell 2.9 percent to 572.5 pence after JPMorgan lowered its recommendation for the company to Neutral from Overweight as the shares trade in line with the bank’s March 2012 price estimate of 585p. BP lost 2.7% to 386.7p as crude oil fell in New York to the lowest level in more than a month. ITV Plc, the UK’s largest commercial broadcaster, jumped 6.8% to 55.95p, the biggest gain in three months, after the Daily Mail said that General Electric Co.’s NBC Universal may be interested in a takeover.

Posted: August 20th, 2010 under Asset Management.
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Markets
London - The FTSE 100 fell 47.68 points to 5,302.87 yesterday. BHP Billiton led miners lower after making a $40 billion hostile bid for Potash Corp. of Saskatchewan Inc. The world’s largest mining company lost 3.4% as it made a $130-a-share cash takeover offer for the world’s biggest potash producer. Vedanta Resources Plc and Eurasian Natural Resources Corp. both retreated as base metals fluctuated in London. BP Plc dropped 2.6% after announcing that it has put its assets in the Tuscaloosa trend in Louisiana up for sale. On the upside, Inmarsat Plc soared 5.6% to 725p after the biggest provider of satellite services to the maritime industry said it will receive a series of payments from LightSquared totalling $337.5 million. Intertek surged 4.2 percent to 1,745 pence after the inspection services company was added to the MSCI World Index, the benchmark for companies trading in developed global markets.

Posted: August 19th, 2010 under Asset Management.
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