Google scales back online library plans November 15, 2009 Google and the Authors Guild have filed a new version of a proposal to create a massive online library, hoping to avert antitrust and copyright concerns in the US and overseas. As part of the amended deal, books in the registry would be reduced to those copyrighted in the US or published in the UK, [...]
A stylish new hotel comes to the Square Mile November 15, 2009 There’s a new hotel in the City – and about time too. Considering the area’s global pre-eminence as a centre of finance and business, with people constantly jetting in from around the world to do deals, it’s surprising how light it’s been on good places for them to stay. That’s about to change thanks to [...]
Sweet success is on the horizon for G founders November 15, 2009 CHOCOLATE mousse firm Gü is in the final stages of its proposed sale, with Noble Foods believed to be the front-runner for the deal. Gü founder James Averdieck founded the brand back in 2003 with £100,000 of personal funds, but appointed Cavendish Corporate Finance in May this year to work on a sale of the [...]
Superdry set to smash its way into FTSE 250 November 15, 2009 Supergroup, the fashion retailer behind the Superdry brand best known for its urban style and for gracing David Beckham’s body, is set to strut its way into the FTSE 250 next year with a stock market listing valuing the business at £400m. The retailer has hired City broker Seymour Pierce to advise on the float, [...]
Paddy Power targets France November 12, 2009 IRISH bookmaker Paddy Power will move into the French online sports betting market and said it remained on track to meet market consensus for full-year profits yesterday. Ireland’s biggest bookie agreed a five-year outsourcing deal to provide betting technology and pricing for French horse racing operator Pari Mutuel Urbain (PMU), the largest betting organisation in [...]
Germany: GM should find Opel funds independently November 12, 2009 GENERAL MOTORS (GM) should come up with its own financing for Opel, Germany’s economy minister Rainer Bruederle said yesterday, after the US carmaker axed plans to sell off its European arm. In a blow to the group, which is seeking state aid, he said GM should shoulder the responsibility of restructuring Opel, which trades as [...]
O2 tops rivals and grows in third quarter November 12, 2009 Mobile operator O2 said yesterday that it was the only UK network to grow its revenues in the third quarter, as it benefited from its since-expired deal to be the exclusive seller of Apple’s iPhone. The UK arm of Spain’s Telefonica said that it saw demand for its mobile data services – customers accessing the [...]
BEST OF THE BROKERS November 12, 2009 DAIRY CRESTKBC Peel Hunt upped its target price for Dairy Crest from 360p to 400p following the firm’s interim results, which were in line with expectations. The broker said that the news in the numbers was a significant reduction in net debt and an increase in the pension fund. It increased its pre-tax profit forecasts [...]
East Coast Line handed to state November 12, 2009 The Department for Transport (DfT) will today take over the running of National Express’s East Coast Main Line, after the transport group failed to find the £1.3bn it needed to pay in premiums for the lifetime of the franchise. The rail unions are urging the DfT to keep the major London to Scotland route in [...]
Irish bad bank gets approval November 12, 2009 Ireland’s parliament yesterday approved a €54bn (£48.4bn) bad bank plan to remove banks’ problem loans arising from a property market bust and help move Ireland out of recession. Dublin has pumped €11bn of capital into its banks, nationalised Anglo Irish Bank and introduced a blanket guarantee for bank liabilities, and now hopes the National Asset [...]