Meet the oil man who is toughing out the harsh new era of low prices May 31, 2009 THE CHIEF executive of oil services business Wood Group Allister Langlands is in remarkably relaxed mood for a man who has seen oil plummet from $147 (£91) a barrel last July to around $65 currently, with all the mothballing of lucrative new projects a slump like that brings. The Aberdeen-based firm may have posted an [...]
‘POLO IN THE PARK’ FOUNDER PUTS HIS CITY BROKERAGE ON THE BLOCK May 28, 2009 EXCITEMENT is hotting up around next week’s Polo in the Park extravaganza at Hurlington Park – the brainchild of Daniel Fox-Davies, founder of the City broking firm of the same name. Fox-Davies – or Foxy, as some cheeky colleagues like to call him – recently set up the World Polo Association with the intention of [...]
OUT THIS WEEKEND PREVIEWS May 28, 2009 FILMOBSESSED Ropey drama with Beyonce Knowles and The Wire’s Idris Elba. 12 ROUNDS Former wrestler Jon Cena takes on the action hero mantle. JONAS BROTHERS: THE 3D CONCERT EXPERIENCE Goody goody teens get the Miley Cyrus treatment. DVDSLUMDOG MILLIONAIRE Danny Boyle’s epic, Indian-set Oscar triumph. THE WRESTLER Mickey Rourke on blistering form as a past-it wrestler. BATTLESTAR GALACTICA – FINAL [...]
AILING GM SET FOR FINAL HUMILIATION May 28, 2009 GENERAL MOTORS (GM) is set to file for bankruptcy on Monday in a deal that will see Barack Obama’s US government own 72.5 per cent of the ailing car-maker. The way forward was cleared yesterday after dissident bondholders agreed to a deal that will give them 10 per cent of GM once it has emerged [...]
BBC, Google plan global iPlayer site May 28, 2009 THE BBC is in talks with Google about launching an international version of its hugely popular iPlayer, City A.M. has learnt. Director General Mark Thomson is leading negotiations with Google boss Eric Schmidt, which could see a global version of the internet TV service hosted on Google’s YouTube. The two firms would then split advertising [...]
Three MPs out over expenses May 28, 2009 THREE more MPs said yesterday they would not stand at the next election after they became caught up in the expenses scandal. Conservative MP Julie Kirkbride and Margaret Moran, Labour MP for Luton South, both said they would quit politics after facing “enormous pressure” from “unbearably intense” media scrutiny. Tory MP Kirkbride faced a showdown [...]
Market forces should be let loose on GM May 28, 2009 IT is a sign of our troubled and confused times that the US government will end up owning a majority stake in General Motors (GM), the ailing car giant that is heading into bankruptcy. It remains unclear what exactly will happen to Vauxhall, the UK division of Germany’s GM-owned Opel, but it seems likely it [...]
Lacroix close to the brink May 28, 2009 HAUTE couture firm Christian Lacroix yesterday filed for protection from its creditors after the credit crunch hit consumer demand for extravagant and expensive fashion. Lacroix, which is owned by Falic Group, a duty free retailer, and employs 125 people, said it hoped to continue to operate by getting court permission to go into administration and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 28, 2009 FINANCIAL TIMES TERRA FIRMA INJECTS MORE CASH INTO EMITerra Firma has been forced to inject more cash into EMI for the second time in six months, after the debt-laden UK music group behind the Beastie Boys and Depeche Mode missed targets imposed in its banking covenants. Guy Hands’ private equity group injected £28m into EMI [...]
Dell slump better than feared May 28, 2009 Computer maker Dell yesterday reported that its quarterly profits had fallen by almost two-thirds as the worldwide recession continues to hit sales of computers. The world’s second-largest maker of personal computers made a net profit of $290m (£182m) in the three months to 1 May, down 63 per cent from $784m a year ago. Revenues [...]