Irish bank puts Royal Exchange up for sale with £75m price tag October 17, 2013 THE ROYAL Exchange looks set to change hands after its Irish owners put it up for sale with a £75m price tag. The iconic site above Bank station is being sold off by The Irish Bank Resolution Corporation, which said yesterday it has hired property advisers CBRE to market the 450-year-old building. The Royal Exchange [...]
Goldman slashes pay on weak quarter for markets October 17, 2013 GOLDMAN Sachs slashed pay in the third quarter, the investment bank announced yesterday, as profits slid in the three-month period. The bank saw profits slip two per cent to $1.43bn (£886m), largely as a result of weak market activity. The fall in earnings was blamed on both the effect of the Federal Reserve considering slowing [...]
Back to work for government workers in US October 17, 2013 US GOVERNMENT workers are returning to work after a deal was reached to lift the state’s debt ceiling and thereby end the shutdown – a move that sent the S&P 500 to a record high last night. Weeks of feuding between the Democrat and Republican parties in Washington DC came to an end just hours before the [...]
What the other papers say this morning – 18 October 2013 October 17, 2013 FINANCIAL TIMES Tele2 sale lifts Russian hopes VTB has sold 50 per cent of mobile operator Tele2 Russia to billionaire Yuri Kovalchuk and partners, paving the way for the creation of a much stronger fourth competitor in Russia’s mobile market. The deal comes six months after VTB, Russia’s second-largest bank, acquired the Russian arm of [...]
Court orders finance boss release October 17, 2013 Italy’s Supreme Court ordered the immediate release from house arrest of former Banca Monte Paschi di Siena finance chief Gianluca Baldassari, one of his lawyers said yesterday. The former head of finance at the scandal-plagued bank is accused along with two other former executives of concealing Monte Paschi’s losses from lending regulator the Bank of [...]
Chip maker sales continue to fall October 17, 2013 AMD posted a six per cent decline in personal computer chip sales, dampening hopes that its fast-growing gaming-console business can take up the slack and sending its shares seven per cent lower. AMD’s third-quarter results yesterday beat analysts’ forecasts as the chipmaker benefited from supplying processors for new game consoles. But investors had hoped for [...]
Lenovo takes a look at BlackBerry October 17, 2013 Chinese personal computer maker Lenovo has signed a non-disclosure deal to examine the books of troubled Canadian smartphone maker BlackBerry, the Wall Street Journal said yesterday, quoting unnamed sources. BlackBerry said in August it was exploring options that could include an outright sale. An offer from a Chinese company could upset the Canadian government, which [...]
Google’s online ad sales lift firm to new heights October 17, 2013 GOOGLE beat expectations once again last night with net profit up 36 per cent reaching $2.97bn (£1.2bn) in the three months to 30 September, beating analysts forecasts. Consolidated revenues rose 12 per cent to $14.89bn (£9.21bn), excluding money handed over to partners. The results buoyed Google’s share price eight per cent in after hours trading [...]
Dr Martens in £300m sale talks with private equity firm Permira October 17, 2013 BRITISH fashion brand Dr Martens is in talks to sell itself to private equity firm Permira, according to sources reported by Sky News. Dr Martens is currently owned by the R Griggs Group, who are believed to be in talks to sell the company to Permira as soon as next month for almost £300m. It [...]
Estate agent finds highest rents on record as market heats again October 17, 2013 RENTS in England and Wales are back to record levels, up 2.1 per cent in the year to September, despite wages staying largely stagnant. The average cost of renting in the two countries now stands at £757 per month, according to LSL Property Services data released today, the highest the group has ever recorded. Average [...]