HELL ON HIGH WATER January 3, 2010 Everyone’s favourite daredevil chief executive, Helical Bar boss Mike Slade, has been up to his old tricks again over the Christmas period in his ICAP Leopard super-maxi racing yacht. Slade, who’s broken a whole haul of records with the yacht since launching it on the race circuit, was unable to take line honours in the [...]
UK and US shut up embassies in Yemen January 3, 2010 THE United States and Britain closed their embassies in Yemen yesterday over security concerns about possible militant attacks after the failed bombing of a US-bound plane on Christmas Day. The US embassy cited threats by al Qaeda, which US intelligence agencies believe has a growing presence in Yemen. A British Foreign Office spokeswoman cited security [...]
Rusal float set to earn millions for Rothschild January 3, 2010 RUSSIAN aluminium firm Rusal, owned by billionaire Oleg Deripaska, is planning a $2.6bn (£1.6bn) flotation this month, tipped to earn millions for merchant bank NM Rothschild, it emerged yesterday. Rusal will sell 1.61 billion shares at up to HK$12.50 (£1) a share to cut $14.9bn (£9.2bn) of debt in a float set to value Rusal [...]
Rate revaluation spells tax hikes for businesses January 3, 2010 FIRMS across England and Wales are facing the prospect of dramatic tax hikes in April after changes to Government business rates. County cricket grounds, lifeboat stations, petrol filling stations, football stadia, coaching inns, golf driving ranges and zoos and safari parks will be among the hardest hit. Pubs, shops and restaurants will also see increases, [...]
MPC to hold rates and QE January 3, 2010 POLICYMAKERS are this week expected to err on the side of caution at the monthly meeting of the Bank of England’s Monetary Policy Committee (MPC), after they warned last month that it would be impossible to identify with confidence the turning point in the economic cycle. The MPC, led by Bank governor Mervyn King, is [...]
Japan Airlines gets state loan doubled January 3, 2010 THE Japanese government has agreed to double the offer of statefunded credit to Japan Airlines (JAL) to 200bn yen (£1.3bn), it emerged yesterday. A state-run bank offered JAL aid of 100bn yen in November, and has already paid out more than half of that. Shares in JAL, which made a loss in four of the [...]
It will be another volatile year for the markets January 3, 2010 Making predictions about the year ahead is an exercise that more often that not results in the author ending up looking pretty foolish. The last few years have proved that even some of the best minds on the planet have a pretty poor record in plotting the future. On the other hand, this does mean [...]
Iceland keen to scrap UK payment deal January 3, 2010 But public bodies including police forces, charities and local councils were not protected. The government agreed to pay the money back after months of tortuous negotiations but the bill has not yet been signed into law by the President. Icelanders are furious that they will be repaying the loan for at least 15 years but [...]
M&A activity prompts further flurry of delistings from London’s Aim market January 3, 2010 LONDON’s junior stock market saw the flood gates reopen in the final quarter of last year as the number of companies delisting rose almost 16 per cent, new research from law firm Trowers & Hamlins and accountancy firm UHY Hacker Young has shown. The unexpected jump in firms leaving the Aim market up to 73 [...]
London must not be sacrificed in age of austerity January 3, 2010 As was recently reported, I am taking a hands-on approach to the Mayoralty – from basting the family Christmas Turkey down in the kitchens of Mansion House to defending the City’s interests against Nicholas Sarkozy’s plans for European domination, I am not afraid to get my hands dirty! That is why, if I were to [...]