WHAT THE OTHER PAPERS SAY THIS MORNING May 14, 2009 FINANCIAL TIMESQINETIQ TO SELL UK UNDERWATER SYSTEMS ARM Qinetiq, the defence research group, has agreed to sell its UK underwater systems business for £23.5m as it continues to restructure its European division. Atlas Elektronik will take over the business, which makes sonar acoustic counter measures for customers such as the Royal Navy, protecting about 220 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 14, 2009 FINANCIAL TIMESQINETIQ TO SELL UK UNDERWATER SYSTEMS ARM Qinetiq, the defence research group, has agreed to sell its UK underwater systems business for £23.5m as it continues to restructure its European division. Atlas Elektronik will take over the business, which makes sonar acoustic counter measures for customers such as the Royal Navy, protecting about 220 [...]
CARLYLE GROUP TO PAY $20M FINE May 14, 2009 Private equity firm The Carlyle Group yesterday agreed to pay a $20m (£13.3m) fine, and to sign a strict code of conduct to resolve its role in an investigation into alleged corruption involving New York’s largest public pension fund. Carlyle, an $85.5bn private equity firm, will be the first buy-out firm to pay a fine [...]
CARLYLE GROUP TO PAY $20M FINE May 14, 2009 Private equity firm The Carlyle Group yesterday agreed to pay a $20m (£13.3m) fine, and to sign a strict code of conduct to resolve its role in an investigation into alleged corruption involving New York’s largest public pension fund. Carlyle, an $85.5bn private equity firm, will be the first buy-out firm to pay a fine [...]
GERMANY’S LOSSES SET TO DOUBLE May 14, 2009 Germany’s finance minister Peer Steinbrück said yesterday that the federal budget deficit would double to €90bn (£59bn) next year as tax revenues dry up and public spending rockets. He said this year’s federal deficit alone would exceed €50bn, up from a deficit of €11.9bn last year. This would break Germany’s budget deficit record of €40bn, [...]
GERMANY’S LOSSES SET TO DOUBLE May 14, 2009 Germany’s finance minister Peer Steinbrück said yesterday that the federal budget deficit would double to €90bn (£59bn) next year as tax revenues dry up and public spending rockets. He said this year’s federal deficit alone would exceed €50bn, up from a deficit of €11.9bn last year. This would break Germany’s budget deficit record of €40bn, [...]
TOSCAFUND IN 15M PAYOUT AS PROFITS DIVE May 14, 2009 HEDGE fund group Toscafund paid its highest earner £15m last year, even though profits at the group fell by 83 per cent, it emerged yesterday. Official US filings show one member of staff at the firm received a “profit entitlement” of £14.9m in the year, despite the group profit dive which was thanks mainly to [...]
RIO CHAIRMAN SET FOR INVESTOR TALKS May 14, 2009 NEW Rio Tinto chairman Jan du Plessis will meet key shareholders today, as pressure builds on the indebted miner to change its controversial $19.5bn (£13bn) tie-up with Chinese state-owned Chinalco, in favour of a rights issue. Du Plessis has already held meetings with a number of shareholders this week and has said he is prepared [...]
RIO CHAIRMAN SET FOR INVESTOR TALKS May 14, 2009 NEW Rio Tinto chairman Jan du Plessis will meet key shareholders today, as pressure builds on the indebted miner to change its controversial $19.5bn (£13bn) tie-up with Chinese state-owned Chinalco, in favour of a rights issue. Du Plessis has already held meetings with a number of shareholders this week and has said he is prepared [...]
MADOFF FUNDS TO BE RETRIEVED May 14, 2009 The trustee given charge of recovering assets from Bernie Madoff’s fraudulent investment scheme said yesterday he expects to reach financial settlements over the coming weeks with a handful of investors who reaped profits from the plan. Irving Picard, the court-appointed trustee, said last night he expected “significant settlements”.