Speculation of US spot for Man broker
Man Group, the hedge fund manager, is expected to list its brokerage arm in New York if its long-awaited demerger goes through. The news last week that Stanley Fink is to step down from chief executive to non-executive deputy chairman has sparked speculation that a demerger of Man Financial is close. Man is pursuing a split to address its low stock market rating.
Iraq looks to investment in oil sector
Barham Saleh, Iraq’s Deputy Prime Minister, said that his country’s best chance to boost its languishing oil output is by working with leading international companies under production-sharing agreements. Iraqi leaders were nearing agreement on a long-awaited hydrocarbon law that will allow huge investments by foreign companies in Iraq’s oil sector.
Mühlhan announces plans for IPO
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Mühlhan, the German maritime painting and coating systems company, is planning an initial public offering. The firm, which offers surface protection for ships, shipyards and oil rigs, is raising funds to expand its international and offshore operations. The Hamburg-based group, controlled by SG Capital, is expected to be valued at up to €80 million (£54.3 million).
Napster acts to lure users from iTunes
Napster is to make an attempt to eat into Apple’s dominance of the music download market by giving away a basic MP3 player with three-month subscriptions to its own Napster to Go service. The company is hoping that the 512MB SanDisk player, which has room for 240 songs, will lure customers from Apple’s iTunes service. Napster to Go costs £14.95 a month in the UK.