The investment management area of Banif, the Portuguese financial group, has been establishing a successful track record in terms of Growth and Innovation. Banif Investment Managers (BIM) recorded strong growth in 2010, with assets under management (in mutual funds, real estate funds, alternative asset funds, pension funds and other managed portfolios) reaching €4bn in December…
Apple has filed a lawsuit against South Korean electronics group Samsung alleging its mobile phones and tablet computer are a copy of its iPhone and iPad. The case against Samsung was filed by Apple on Friday at the US District Court for the Northern District in California but details were not released until Tuesday when the…
Swiss medical device manufacturer Synthes said on Monday it is in preliminary takeover talks with health conglomerate Johnson & Johnson. The deal could be worth up to $20bn and if completed would be one of the largest healthcare takeover deals in recent years, according to sources familiar with the process. The company said in a statement:…
Kit homes are rapidly increasing in popularity across the globe, especially in Australia. It is important to consider how to actually buy a kit home though, as they are not the same as regular houses – the buying process is slightly different.Why are they so popular?The main reason for the growth of the kit home…
Nestlé, the world’s biggest food group by sales, saw a 9 percent drop in Q1 sales to CHF22.26bn compared to CHF22.34bn the previous year, the company announced on Friday. The decrease in sales were due to the sale of its Alcon eye care business and foreign exchange rates by the Swiss franc which has been trading…
Glencore, the world’s largest commodities trading group by revenue intends to sell between $9bn-11bn in shares in its IPO on the Hong Kong and London stock exchanges, the Swiss company announced on Thursday. The group will use in the next three years around $5bn of the profits from the IPO for capital expenditure and around…
Increasingly, the role of landlord is being played by Average Joes who happen to own a second piece of real estate. While rental lease properties can make great assets, they can also be a legal liability, especially for “Saturday landlords” who have an unrelated full-time job and are trying to eke out some extra income…
JPMorgan Chase, the second largest bank by assets in the US, beat forecasts from Wall Street analysts by reporting a 67 percent rise in Q1 profits, bringing figures to $5.56bn compared with $3.33bn in the same period last year. The jump in results was attributed to an increased performance from the credit card group and…
The Russian half of the Russian-British TNK-BP joint venture is threatening to file a law suit for up to $10m against its parent company BP, saying BP breached its shareholder agreement for going straight to state oil company OAO Rosneft rather than through TNK-BP, sources said. Rosneft and BP signed a share swap deal in…
The COO of Renault, Patrick Pélata, resigned on Tuesday following an internal and external audit which showed ‘a chain of failures’ in the manner the car manufacturer handled a scandal which alleged industrial espionage by its employees and led to three unjust dismissals. The audit especially blamed ‘the supervision and control of activities of management…
