New Look moves to reassure suppliers
New Look, the value fashion chain, has moved to reassure suppliers over its financial position, after a report last week in an industry blog that it was poised to enter administration and carry out a company voluntary arrangement.
Linde seeks deeper cost cuts
Linde, the world’s second largest maker of industrial gases by sales, is planning deeper cost cuts to protect profits as it faces a tougher economic environment. The German gas and plant engineering group, which vies with France’s Air Liquide for the number one spot in industrial gases, said it would save up to €900m (£725m) by 2016 after an expected uptick in the global economy in the second half of the year failed to materialise.
Grant Capital Partners to shut
Grant Capital Partners, the hedge fund manager set up by the former Goldman Sachs trading star behind Peloton Partners – one of the industry’s biggest collapses – is shutting down, according to a letter sent to investors by founder Geoff Grant.
Ferry deal is sent to regulators
After a four-month inquiry into Eurotunnel’s decision to buy three ferries from the bust SeaFrance, the Office of Fair Trading yesterday ruled that the plan may not necessarily be above board.
Internet delivers new Royal Mail jobs
Ten years after Allan Leighton took a shredder to Parcelforce, the express package delivery arm of the Royal Mail will today unveil plans to take on 1,000 workers to cope with the boom in internet shopping.
The Daily Telegraph
Russia offers to build nuclear plants
Moscow has offered to help Britain build nuclear power stations in partnership with Rolls-Royce, Russia’s deputy prime minister Igor Shuvalov said yesterday.
Lenders threaten Hibu closure
Lenders to Hibu, the owner of Yellow Pages, have threatened to scupper a restructuring of the company and launch winding-up proceedings against it because of a row over debt repayments on Hibu’s £2.3bn debt pile.
THE WALL STREET JOURNAL
Chrysler quarterly profit soars
Chrysler Group reported an 80 per cent jump in its third-quarter profit over a year ago amid strong demand for its cars and pickup trucks and a continuing recovery in the U.S. auto market.
US regulators postpone Nasdaq ruling
US regulators are taking more time to decide whether to approve Nasdaq OMX Group’s plan to make up losses for firms damaged in this past May’s botched Facebook stock market debut.