Vodafone has partnered with Dresden University of Technology to research 5G. Dresden is one of many universities joining the telecoms operator in this quest e.g. Carnegie Mellon University and University of Surrey. Vodafone's Head of R&D said that despite 5G being in its "very early stages" it was worth investing "time and effort" to understand the technology.
Sunday, 12 October 2014
Sunday, 5 October 2014
Investment Hero Bill Gross Returns to Investment Roots
Bill Gross - for whom "managing money is in my blood" - returns to Investment and exits Pimco management by joining Janus Capital managing a $13m fund, smaller than the $200bn fund he ran for Pimco. An MBA graduate from UCLA, he founded Pimco and has previously served in the Navy as well as played blackjack professionally in Las Vegas. Bill Gross is the second high-profile departure after Mohamed El-Erian (former CEO of Pimco till March 2014 and former CEO of the HMC, the Harvard Management Company) who is now Chief Economic Advisor at Allianz. He has written the book When Markets Collide.
Saturday, 27 September 2014
Dow Chemical to Put Chlorine Business For Sale
Dow Chemical, run by Andrew Liveris, is looking to sell its epoxy and chlorine business. Dow Chemical is an industrials juggernaut with 2013 sales of more than $57 billion. Liveris became CEO in 2004 after working as Chief Operating Officer, succeeding William Stavropoulos.
Friday, 26 September 2014
Solvency II Rules Set for 2015 Launch
Solvency II Rules due in 2015 will set strict rules for insurers; where they will be expected to lay out detailed risk and capital plans. "Inadequate or opaque models" would not get regulatory approval, warned BOE boss Mark Carney.
The technical rules for Solvency II are managed by EIOPA, the European regulator for insurance and occupational pensions.
The technical rules for Solvency II are managed by EIOPA, the European regulator for insurance and occupational pensions.
Wednesday, 20 August 2014
BHP Billiton Announces Dramatic Asset Spinoff
BHP Billiton is demerging - creating a new, smaller yet-to-be-named offspring, focusing on the aluminium, manganese, nickel and silver parts of the business, with the main, larger business (96% of earnings in 2014) focusing on iron ore, copper, petroleum and potash.
Coal will be common to both, and BHP is active in both metallurgical and thermal variants. The President of the coal business, Dean Dalle Valle, has been with BHP for a truly impressive 36 years and ran the Uranium business for three years and started his career as a mine apprentice. He has been profiled in The Australian.
BHP Billiton, which was formed in 2001 from the merger of BHP and Billiton, is a global mining giant, known for acquisitions and its failure in 2005 to take over rival Rio Tinto. One of CEO Andrew Mackenzie's priorities since taking the helm has been to simplify BHP's portfolio. Andrew has a PhD in Organic Chemistry. He worked in BP Research, moved to the Finance division, and became Head of Capital Markets, and the rest, as they say, is history. He has also worked at Rio Tinto as head of the industrial minerals division.
Tim Cutt who heads the Petroleum (and Potash) Business has a degree in Petroleum Engineering from Louisiana Tech. BHP is a big player in deep water exploration in the Gulf of Mexico. The iron ore business is principally in Pilbara, Western Australia, and is led by Jimmy Wilson.
Coal will be common to both, and BHP is active in both metallurgical and thermal variants. The President of the coal business, Dean Dalle Valle, has been with BHP for a truly impressive 36 years and ran the Uranium business for three years and started his career as a mine apprentice. He has been profiled in The Australian.
BHP Billiton, which was formed in 2001 from the merger of BHP and Billiton, is a global mining giant, known for acquisitions and its failure in 2005 to take over rival Rio Tinto. One of CEO Andrew Mackenzie's priorities since taking the helm has been to simplify BHP's portfolio. Andrew has a PhD in Organic Chemistry. He worked in BP Research, moved to the Finance division, and became Head of Capital Markets, and the rest, as they say, is history. He has also worked at Rio Tinto as head of the industrial minerals division.
Tim Cutt who heads the Petroleum (and Potash) Business has a degree in Petroleum Engineering from Louisiana Tech. BHP is a big player in deep water exploration in the Gulf of Mexico. The iron ore business is principally in Pilbara, Western Australia, and is led by Jimmy Wilson.
Tuesday, 19 August 2014
How Glencore Counters Commodities Cycles: A Review of 2013
Glencore, as its annual report boasts, is a well-diversified commodities company, active in over ninety commodities. It acquired Xstrata in 2013 and realised synergies of around $2.4 billion. Its 2013 revenue came in at 239 billion dollars.
Its KPIs include: EBIT/EBITDA, Funds from Operations (FFO) and Net debt/FFO to Net debt (large expensive projects tend to increase this ratio).
Glencore computes Value at Risk and has set a 1 day 95% VaR limit of $100m.
Glencore shares trade in London (GLEN), Hong Kong and Joburg. Its financial accounts are in USD.
Its KPIs include: EBIT/EBITDA, Funds from Operations (FFO) and Net debt/FFO to Net debt (large expensive projects tend to increase this ratio).
Glencore computes Value at Risk and has set a 1 day 95% VaR limit of $100m.
Glencore shares trade in London (GLEN), Hong Kong and Joburg. Its financial accounts are in USD.
Standard Chartered to Pay $300m AML Fine to NY State Department of Financial Services
Fine Adds to Previous Fines
On top of the fine, the UK bank is banned from accepting new dollar clearing accounts without approval of the State Department (DFS). This fine adds to the $340m that SC agreed to pay in August 2012 after admitting to having violated US sanctions on Iran.
Background to the New York DFS
The New York DFS was created in October 2011 as part of the State budget unveiled by Governor Andrew Cuomo (who assumed office in January 2011), and is a graduate of Albany Law School. DFS is an amalgam of the former New York State Department of Banking and separately Department of Insurance.
Benjamin Lawsky became New York State's first Superintendent of Financial Services in 2011.
On top of the fine, the UK bank is banned from accepting new dollar clearing accounts without approval of the State Department (DFS). This fine adds to the $340m that SC agreed to pay in August 2012 after admitting to having violated US sanctions on Iran.
Background to the New York DFS
The New York DFS was created in October 2011 as part of the State budget unveiled by Governor Andrew Cuomo (who assumed office in January 2011), and is a graduate of Albany Law School. DFS is an amalgam of the former New York State Department of Banking and separately Department of Insurance.
Benjamin Lawsky became New York State's first Superintendent of Financial Services in 2011.
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