Hedge fund Hayman Capital has taken a stake in General Motors and believes the US carmaker’s stock could rise more than 40 per cent over the next 12-18 months after the US Treasury sells its stake in the company, a source familiar with investment
WERE British banks engaged in a corrupt pact to bankrupt struggling business customers?
The evidence from dossiers compiled by the businessmen Lawrence Tomlinson and Neil Mitchell is superficially shocking, although as yet inconclusive.
ROYAL Mail said yesterday it had reached an agreement in principle with union members on pay and pensions, removing the risk of a strike taking place during the company’s busy Christmas period.
TWO months ago we saw the start of the biggest marketing campaign for the National Lottery since its launch in 1994, coinciding with arguably the biggest change to the game – a doubling of the ticket price.
BREWIN Dolphin’s funds swelled in the last year while restructuring costs chipped away at profits, as the firm worked on its mission to become a more profitable wealth manager.
THREE, the UK’s fourth largest mobile operator, announced yesterday that it has dropped roaming charges from four more countries including the US.
SHARES of SyQic, a provider of video to mobile devices, jumped 33.8 per cent during its first day of trading yesterday, to close at 83p.
FINANCIAL software maker Sage leapt to the top of the FTSE 100 risers yesterday after the company reported profits up one per cent to £360.5m before exceptional charges.
STRUGGLING smartphone maker HTC could have its flagship HTC One phone blocked from sale in the UK this Friday after a high court judge said it infringes a Nokia patent.
TWITTER and Facebook users are to be warned about the dangers of committing a contempt of court by commenting about ongoing court cases online.
EUROPEAN Union antitrust regulators have approved Nokia’s €5.44bn (£4.5bn) sale of its devices and services division to Microsoft.
FTSE 100-listed engineering firm Amec yesterday said it has won a $124m (£76m) contract with Abu Dhabi Marine Operating Company to manage the development of an oil field located off the UAE.
Shaftesbury, the West End landlord, said yesterday it has signed a new £125m five-year loan with Lloyds Bank in a refinancing deal. The facility will replace an existing £125m loan which was due to expire in April 2016.
Developer St Modwen said it has clinched a deal with Marks & Spencer that will see the retailer anchor the group’s regeneration scheme in Birmingham.
THE EUROZONE’S economy continued growing in November according to a widely-regarded set of business surveys released yesterday, yet crucial member states such as France and Italy appear to be stuck in the mud.
THE US non-manufacturing economy grew at a slightly slower pace during November, with new export orders adding particularly to the expansion.
A NEW report says that Indian manufacturing returned to growth last month, after a tough summer.
ALLISTER HEATH | CITY A.M.
THE BANK of England will hold off from any rise in interest rates in the opening months of next year even if unemployment keeps falling, analysts say.
EUROPEAN private equity firm Bridgepoint has agreed to buy pre-university training provider Cambridge Education Group (CEG) from Palamon Capital Partners in a deal worth £185m.
EUROTUNNEL has won an appeal to keep sailing the three cross-Channel ferries it bought last year from SeaFrance.
SMALL business landlord Sirius Real Estate announced plans yesterday for a €40m (£33.2m) share issue to help pay down debts as it swung back into profit in the first half.
FTSE 100 oil and mining firm Vedanta Resources yesterday said it has hired Mike Yeager as chairman of the operations review board at its subsidiary Cairn India.
Good Energy Group, the Aim-listed renewable energy supplier, yesterday said that it has agreed to sell a 76 per cent stake in a solar energy farm in Pembrokeshire to infrastructure investment company Quercus Assets Selection.
Aim-quoted clean energy firm Greenko, which operates projects across India, yesterday unveiled a 32.4 per cent rise in half-year revenues to €27.9m (£23.1m) and a 49 per cent increase in reported earnings to €24.6m.
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THE FTSE 100 slipped to seven-week lows yesterday, weighed down by a surprise warning from Standard Chartered that it could be headed for its first drop in profits in a decade.
THE Dow and the S&P 500 finished lower for the fourth consecutive session yesterday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus.
SIX CITY insurers have today announced a major investment into UK infrastructure projects, committing £25bn over the next five years.
THE EUROPEAN Commission is set to impose heavy fines on a number of global banks including Citigroup, Deutsche Bank and RBS later this morning, over allegations that they rigged key interest rate benchmarks.
IT is not possible to put a positive spin on Britain’s results in the latest global education league tables: they reveal an appalling, shameful, tragic waste of talent. It is an embarrassing failure for a country that ought to be doing so much bet
VIETNAM, Poland and South Korea are among the countries ranked higher than the UK in a major survey of the world’s education systems, released by the Organisation for Economic Co-operation and Development (OECD) yesterday.
BUSINESS leaders railed against the UK’s lacklustre education system yesterday, as international rankings showed that Britain is slipping behind many other countries.
■ Six major insurers have announced plans to collectively invest £25bn in UK infrastructure over the next five years. They are: Legal & General, Aviva, Prudential, Scottish Widows, Standard Life and Friends Life.
THE CO-OPERATIVE Bank’s advisers on its aborted attempt to buy 632 Lloyds branches defended their part in the botched sale yesterday, insisting their advice was robust.
THE UK government has backed oil giant BP in its dispute over the US government’s decision to suspend all of the oil major’s federal contracts after the Deepwater Horizon disaster.
LEADING MPs yesterday called on RBS to explain why its payment systems broke down on Monday evening, calling for top bosses to answer questions.
DAVID Cameron wants the UK to be at the “front of the queue” when it comes to Chinese trade deals.
BRITISH builders are recovering rapidly as the economy begins to turnaround, recording the fastest expansion in business for over six years in November.
AS CHANCELLOR George Osborne’s Autumn Statement draws nearer, a new report today lays out what is expected from the Treasury.
HIGH house prices are pushing up families’ debts and mean they could be in danger when interest rates rise, the Bank of England said yesterday.
CLOUDS over the City of London are finally lifting, with firms growing confident that 2014 will mark the end of the difficult five years following the financial crisis.
THE COST of public transport in London will rise by an average of 3.1 per cent in January, the Mayor of London announced yesterday along with a claim that the change represents a real-term price freeze.
RWE NPOWER’S chief executive Paul Massara will have the size of his bonus slashed after research showed the energy supplier’s customer complaint levels had spiked in the last year.
SHOP prices fell again in November, industry figures showed yesterday, recording the seventh consecutive month of deflation on the high street.
BRITAIN’S pensioners plan to leave more to their children than any others in the western world, an HSBC study showed yesterday.
THE ECONOMIC recovery is making the UK an increasingly attractive investment destination for overseas firms, analysts said yesterday, as official data showed a sharp rise in foreign firms buying UK businesses.
RETAIL and construction employment are benefiting particularly from the boost to economic growth in recent quarters, with shops ramping up their hiring ahead of Christmas.