Intrade to cut off bets from US
Intrade, the leading prediction market for bets on events from elections to box-office receipts, said it would cut off US customers next month in the face of a regulator’s lawsuit. The Dublin-based online marketplace was regularly cited as a barometer of the fluctuating odds of the candidates during the US presidential campaign.
Urban Decay scrubs up for L’Oreal
L’Oreal has made a foray into the make up market for younger consumers with the purchase of niche US brand Urban Decay.
The French cosmetic giant bought California-based Urban Decay from Castanea Partners, a private equity firm, for an undisclosed sum. The brand was created in 1996 by Sandy Lerner.
The Daily Telegraph
Civil servant sues DfT
Kate Mingay, one of the three civil servants suspended over the West Coast rail bid fiasco, has filed legal proceedings against the Department for Transport over the way she has been treated. A preliminary High Court hearing is scheduled for Thursday. She is being represented by Mishcon de Reya.
THE WALL STREET JOURNAL
US Airways says Sandy cost $35m
US Airways Group said yesterday that Superstorm Sandy cost the airline $35m in profits, as the storm contributed to a decrease in bookings that stretched into November. The carrier’s bookings declined by 13 per cent in the several days before and after the storm, compared with a year ago.