OUT THIS WEEKEND PREVIEWS May 21, 2009 FILMTORMENTED Britain’s answer to the current vogue for teen slasher flicks. EVERLASTING MOMENTS Acclaimed Swedish period drama about a female photographer. THE GIRL CUT IN TWO The latest quirky film from French auteur director Claude Chabrol. DVDTHE READER Kate Winslet on Oscar-winning form as a former Nazi prison guard. SEVEN POUNDS Apallingly mawkish melodrama with [...]
Q & A : WHAT DOES S&P’S DECISION MEAN FOR THE UK May 21, 2009 Q. WHAT EXACTLY HAS STANDARD & POOR’S DONE?A. It has downgraded its rating on Britain’s AAA rating, to “negative” from “stable”. Q. WHAT IS MEANT BY AN OUTLOOK DEFINITION?A. An S&P rating outlook assesses the potential direction in which a rating will move over the next six months to two years. “Negative” means it may [...]
Rio hit again as investors snub Chinalco May 21, 2009 MINING giant Rio Tinto came under fire again yesterday over its controversial proposed tie-up with Chinalco. In the latest in a series of criticisms from shareholders and the Australian government, investors in Sydney called for changes to the proposed $19.5bn (£13.6bn) tie-up with the Chinese state-owned aluminium company. Shareholders object to the stake which Chinalco [...]
Qataris make preferred bid for Panmure May 21, 2009 PANMURE Gordon, the 133-year-old City stockbroker, said yesterday it had conditionally raised £23m via a share placing with QInvest, Qatar’s largest investment bank. The firm’s decision to accept QInvest’s proposal came after lengthy deliberations over the merits of two further stakebuilding offers from private equity firm BlueGem and hedge fund SPQR Capital. Under the terms [...]
M&B boss out on hedge loss May 21, 2009 THE BOSS of Britian’s biggest pub chain Mitchells & Butlers (M&B) resigned yesterday after the company revealed it would lose a further £69m in a disastrous bet on interest rates and revealed a 48 per cent fall in pre-tax profits to £44m for the six months to 11 April. Chief executive Tim Clarke, stepped down [...]
Microsoft pulls hearing request May 21, 2009 Microsoft has withdrawn its request for an oral hearing into EU charges that it sought to thwart rivals by tying its Web browser to its Windows operating system. “We will now consider Microsoft’s reply to the statement of objections without a hearing,” the European Commission said. The Commission is tasked with ensuring that companies do [...]
Eurozone data brings cheer May 21, 2009 THE eurozone’s services and manufacturing sectors contracted less than expected in May as firms saw the pace of decline in new orders ease, hinting the worst of a deep recession may be over, surveys showed yesterday. Markit’s Eurozone Flash Services Purchasing Managers Index (PMI) rose to 44.7 in May from 43.8 last month, beating the [...]
Q & A : WHAT DOES S&P’S DECISION MEAN FOR THE UK May 21, 2009 Q. WHAT EXACTLY HAS STANDARD & POOR’S DONE?A. It has downgraded its rating on Britain’s AAA rating, to “negative” from “stable”. Q. WHAT IS MEANT BY AN OUTLOOK DEFINITION?A. An S&P rating outlook assesses the potential direction in which a rating will move over the next six months to two years. “Negative” means it may [...]
City police swoop in 50m fraud probe May 21, 2009 TWO men have been arrested in connection with an alleged £50m fraud affecting up to 600 investors, after City of London Police raided addresses in London and Surrey yesterday. The investigation relates to three financial consultancies, Business Consulting International (BCI), John Anderson Consulting and Kenneth Peacock Consulting, all of which had their activities suspended by [...]
Qataris make preferred bid for Panmure May 21, 2009 PANMURE Gordon, the 133-year-old City stockbroker, said yesterday it had conditionally raised £23m via a share placing with QInvest, Qatar’s largest investment bank. The firm’s decision to accept QInvest’s proposal came after lengthy deliberations over the merits of two further stakebuilding offers from private equity firm BlueGem and hedge fund SPQR Capital. Under the terms [...]