Credit Suisse bolsters its investment banking line-up with new Nomura hire April 6, 2010 CREDIT Suisse, the bank that is advising the giant insurer Prudential on its £15bn rights issue, has hired Dominic Charnock from Nomura for its growing investment banking team. Charnock joins the investment banking team that includes Charles Donald, who left Nomura for Credit Suisse at the end of last year. Donald is widely credited as [...]
Bank changes May meeting date April 6, 2010 The Bank of England has decided to change the date of its May monetary policy decision to 10 May from 6 May in order to avoid clashing with the general election that was announced yesterday. The Debt Management Office has also had to reschedule some bond auctions as a result of the announcement.
Ukrainian egg company to float April 6, 2010 Avangardco, the Ukrainian egg company, is planning to float on the London Stock Exchange. It yesterday said it plans a £132m initial public offering (IPO). The Kiev-based company currently has 16m birds and is the country’s biggest producer of shell eggs and dry egg products. It has 13 factories across the Ukraine and exports to [...]
AOL plans to sell or shut Bebo April 6, 2010 AOL plans to find a buyer for its social networking site Bebo, for which it paid $850m (£556m) in 2008, or shut it down. The level of competition in social networking makes it difficult for the company to fight larger players such as Facebook and News Corp’s MySpace, AOL said. The company plans to decide [...]
Leaders in rallying cry ahead of 6 May election April 6, 2010 GORDON Brown yesterday fired the starting pistol on a four-week election campaign ahead of polling day on 6 May. The Prime Minister asked voters to give him a “clear and straightforward mandate” to secure the economic recovery and sent a rallying cry to Labour activists from the steps of 10 Downing Street. “The future is [...]
Tories gain more support for jobs tax pledge April 6, 2010 THE TORIES were last night claiming another victory in the battle over National Insurance, after three business leaders added their names to a letter condemning Labour plans to hike the “tax on jobs” after the election. Tory sources said that Yell chairman and ex-Merrill Lynch banker Bob Wigley had decided to support the campaign, along with [...]
Which party will emerge victorious? April 6, 2010 BROWN confirmed Westminster’s “worst kept secret” yesterday as he announced a 6 May general election. David Cameron said it would be the most important political contest “in a generation”, but it is also proving one of the hardest to second guess. We want to know what you think the outcome of the election will be. [...]
CITY VIEWS: WILL THE ELECTION MAKE ANY DIFFERENCE TO THE ECONOMY ? April 6, 2010 LIAM HOURIGAN | TELSTRA “In the short term I think the election will make a difference. Traditionally the Tories are good for the market, although I am not sure whether they can turn it around this time as they are so similar to Labour. Long term, the budget deficit is the issue. ” JAMES SUTTON [...]
Digital Economy Bill set to pass into law April 6, 2010 HOPES for a last minute reprieve from “draconian” new anti privacy legislation appeared to fade yesterday as the government’s Digital Economy Bill (DEB) passed through to “wash-up.” This means the bill, which contains some heavily debated elements, enters a period where legislation is rushed through in the gap between Parliament being dissolved and a new [...]
Renault joins Nissan and Daimler in new alliance April 6, 2010 FRENCH carmaker Renault, Japanese alliance partner Nissan and Germany’s Daimler will unveil partnership plans today in Brussels, France’s industry minister said. Renault and Daimler have been discussing a partnership as carmakers worldwide seek to become more competitive by sharing technology costs and gaining scale. The automobile sector is scrambling to meet tightening emission rules as [...]