ACP Capital Raises [Pounds Sterling]50m in Move to Junior Market; IN BRIEF

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JERSEY-based niche fund manager ACP Capital is to join the junior AIM trading platform in the new year after raising [pounds sterling]50 million through a placing of 50 million shares. Chief executive Derek Vago, who built up Japanese house Nomura's European portfolio, will own 19.47% of the enlarged company and be its largest shareholder. ACP Capital was set up in August to focus primarily on the assetbacked market. It provides mezzanine and equity financing on assets in continental Europe and the UK.

Tech titans reach agreement over executive's future

A DISPUTE which had resulted in a former Microsoft executive being prevented from heading Google's research operations in China, has been resolved.

Software giant Microsoft said Kai-Fu Lee, Google and itself had come to a mutual agreement, although it disclosed none of the terms. Microsoft added that all parties had "entered into a private agreement that resolves all issues to their mutual satisfaction".

It stressed that neither it, nor the internet search group, would make any further statements on the matter.

Pay growth holds firm despite drop in inflation

AVERAGE pay rises remained 3% in the three months to November, having held steady at this level through 2005. …