September 4

RAB issues a late night profits warning and says it will cut jobs

first_img LONDON based hedge fund operator RAB Capital, warned yesterdfay its full-year loss will be larger than expectations after losing nearly one-quarter of its assets in July and August from poor performance at one of its largest funds and from investor redemptions.Assets sank to $1.05bn at 31 August, from $1.26bn at 30 June and $1.35bn at the start of 2010, because of a 15 per cent loss in its flagship Special Situations fund in the two months, and from a European bank pulling cash from RAB’s fund of funds.The hedge fund, which is famous for having bought shares in Northern Rock before the bank was nationalised, issued the warning after the market closed last night and said that it will have to make cuts to its 100-strong workforce. RAB would not confirm the number of job losses but said the cuts would cause an “exceptional charge” of £5.5m. Barely two weeks after the new chief executive, Charles Kirwan-Taylor took the helm, he said RAB had a strong capital and liquidity position, but that the company’s cost base was too high compared with its revenues and its full-year results would be “significantly” below expectations. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their RAB issues a late night profits warning and says it will cut jobs whatsapp whatsapp Tags: NULL KCS-content center_img Share Show Comments ▼ Thursday 16 September 2010 9:05 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndolast_img

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Posted September 4, 2021 by admin in category "hdkgmapg

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