Author Archives: the HedgeCo News Team
Puzzling rise in British Energy shares
Shares in British Energy have more than doubled despite assurances from the electricity generator that it had no explanation for the increase. The surge gathered pace after the announcement, leaving the financially- stricken group with a closing price of 10.25p, […]
‘Benefits are not what they’re cracked up to be’
“Save, save, save,” is the message from one North-East finance expert, who warns more of us will be forced to take odd jobs and spend the children’s inheritance as pensioners if we don’t. Nick Straker, at Lycetts Financial Services, independent […]
Investors Pull Plug on Shady Hedge Funds
NEW YORK (AP) – Investors fled hedge funds accused of shady trading practices in droves last year as their strategies came under intense scrutiny from regulators, according to a survey. The funds saw $1.8 billion, or nearly half of their […]
Scottish Power profits up by pounds 6m
ENERGY group Scottish Power, which owns Merseyside electricity supplier Manweb, has lifted third quarter profits by pounds 6m. The company also revealed UK customer numbers had hit 4m for the first time. The Glasgow-based group, which operates power networks as […]
Fund scandal spreads to Franklin’s parent firm
BOSTON (AP) — In the latest legal blow to a major mutual fund company, Massachusetts regulators accused the parent company of Franklin Templeton Investments of fraud Wednesday, alleging the firm leta Las Vegas businessman make $45 million worth of improper […]
Has Cullen run out of options?
SO NOW we know what Finance Minister Michael Cullen’s options are to curb the high dollar. Sort of. It has been a long journey to revelation since November 5 when Doctor No told a parliamentary committee that he had unnamed […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: February 4, 2004> Time: 18:30:00> Tran: 020400cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Susie Gharib, Jeff Yastine> Guest: Ronald Sugar, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> SUSIE GHARIB, NIGHTLY […]
Shell gets jitters ahead of crunch day for chairman ; Market Report
THE City fears tomorrow could be D-Day for oil giant Shell when it unveils fourth-quarter and full year results. Fourth-quarter earnings are expected to be down by almost a third after a previously announced write-off totalling Pounds 1 billion. Analysts […]
Hedge Watch
A NEW index of hedge funds is to join the FTSE 100 and the FTSE All Share among the barometers of investment returns. FTSE Group announced plans to launch FTSE Hedge, an index reflecting theperformance of 40 hedge funds worldwide, […]
Franklin Funds Parent Accused of Fraud
BOSTON (AP) – State regulators accused the parent company of mutual fund firm Franklin Templeton of fraud Wednesday for allegedly allowing a Las Vegas businessman to market time $45 million in mutualfunds in exchange for a $10 million investment in […]
Janus Reports $63M in Fourth-Quarter Costs
Janus Capital Group Inc. reported $62.8 million in fourth-quarter costs related to mutual fund investigations Wednesday, putting a slight crimp in earnings for the period that surged on a one-timegain. The Denver-based company reported net income of $812.9 million, or […]
Tokyo Stocks Further Down in Morning on Weaker Dollar
Tokyo, Feb. 4 (Jiji Press)–Stocks ceded further ground on the Tokyo Stock Exchange Wednesday morning, as the dollar’s continued weakness weighed on shares of major high technology firms andautomakers. At the morning close, the 225-issue Nikkei average stood down 128.16 […]