Castaway investors land £4.9m February 15, 2010 Shareholders in Castaway Television Productions, the reality studio behind worldwide hits such as “Survivor” and “Celebrity Survivor”, have shared a £4.9m dividend. Investors including Bob Geldof and Lord Alli were given the payout, which was up from the £3m distributed in 2008. Sales rose to £8.8m from £6.1m in the year to March 2009, according [...]
MySpace suffers key defection February 15, 2010 A senior software developer at MySpace, Monica Keller, has defected to deadly rival Facebook just days after the beleaguered firm’s chief executive stood down. Owen van Natta left MySpace after only nine months in the top job. The news heaps misery on the News Corp website, which is being beaten by Facebook in the bid [...]
Bharti wins $11bn bid for African unit February 15, 2010 INDIAN mobile phone company Bharti Airtel has had its $10.7bn (£6.8bn) bid for the bulk of the African business of Kuwaiti telecoms company Zain accepted, according to sources close to the deal. Bharti, led by chief executive Manoj Kohli, will now enter exclusive talks with Zain to work out the details of the deal, under [...]
A hung parliament would push sterling down February 15, 2010 The prospect of a hung parliament later this year is worrying the markets. The question is – why? The country faces a number of possible outcomes at the next election but the two most likely ones, according to the latest polling are either a clear win for the Conservative party or a dreaded hung parliament. [...]
Swiss see bank secrecy laws as part of their national identity, survey claims February 15, 2010 A MAJORITY of Swiss people remain in favour of retaining the country’s long-cherished tradition of bank secrecy despite growing international pressure for greater transparency, a poll revealed yesterday. US action against UBS has stirred domestic resentment “The Swiss are not ready to give up their banking secrecy,” Switzerland’s Matin Dimanche newspaper said as it published [...]
Opec to decide on crude output at March meeting February 15, 2010 ALL OPTIONS are open at the next meeting of the Organization of Petroleum Exporting Countries (Opec) in March, Algerian Energy and Mines Minister Chakib Khelil said yesterday. Energy ministers from OPEC meet in Vienna on 17 March to decide whether to change production levels. Asked if Opec would consider new cuts in output or tightening [...]
M&S launches home energy unit February 14, 2010 Marks & Spencer will offer 30,000 of its staff free home insulation as part of its launch of a home energy services division. The firm’s new venture will also provide bespoke energy advice as well as renewable energy products such as solar panels and heat pumps. Marks & Spencer said if all eligible staff took [...]
Kwik-Fit to sell insurance arm February 14, 2010 Kwik-Fit, the car repair firm, is preparing to sell its fast-growing insurance business for more than £200m. The firm, which was founded by Sir Tom Farmer, the Scottish entrepreneur, has hired bankers at Credit Suisse to carry out a review of Kwik-Fit Financial Services, which employs more than 1,000 people and handles 10m calls a [...]
Reubens mull sports TV bid February 14, 2010 The Reuben brothers, the billionaire property investors, are mulling a takeover of sports TV business Catalyst Media Group, which is listed on Aim and valued at £26m. City sources said the brothers, who are estimated to be worth more than £2.5bn, had not made a firm decision on an offer for Catalyst but had expressed [...]
Why the London Stock Exchange’s French boss is taking on the world February 14, 2010 L ONDON’s financial services community has a new champion: Xavier Rolet, the 50-year old French banker who took over as the London Stock Exchange’s CEO last year. Unlike many British commentators, who seem desperate to talk down one the UK’s most important industries, Rolet realises how important a prosperous City is to the UK and [...]