Football fans descend on Mayfair hedgie August 29, 2013 HEDGE fund Sisu Capital was targeted by a group of angry football fans last night, as Coventry City supporters protested outside the firm’s Mayfair offices. The Sky Blues supporters are furious at Sisu – which took over the struggling midlands club in late 2007 – for moving the team’s home games to Northampton, over [...]
Carney tears up King’s rulebook August 28, 2013 BANK lending is in line for a £90bn boost after Mark Carney yesterday agreed to let the safest institutions divert resources away from regulatory liquidity buffers and into business and household credit. It comes after business secretary Vince Cable called the Bank of England the “capital Taliban,” claiming regulators’ tough capital requirements were hitting [...]
Farmers’ mutual backs Kentz in takeover battle August 28, 2013 NFU MUTUAL, a top 10 shareholder in engineering and construction firm Kentz, yesterday backed the board’s rejection of two takeover bids, agreeing the offers undervalued the company. FTSE 250-listed Kentz, which this week unveiled an increase in first-half revenue and profit, rejected indicative offers from larger rival Amec and Germany’s M+W earlier in August. Amec’s [...]
Labour forces Cameron to delay Syria strikes August 28, 2013 DAVID Cameron last night bowed to Labour demands and delayed any British strikes on Syria until after UN inspectors can visit the site of an alleged chemical weapons attack. MPs had been recalled to Westminster for today’s debate on intervention in Syria, which was expected to conclude with a vote on whether the UK [...]
UK politicians prepare for showdown on Syria strikes August 28, 2013 TODAY’S House of Commons vote on Syria was expected to be a test of David Cameron’s leadership but the last minute decision to allow a second vote before committing Britain to military intervention has delayed the final decision. All sides are still expected to enforce the party whip for today’s vote, meaning parliamentarians who wish [...]
Rupee suffers worst day for almost 20 years August 28, 2013 THE INDIAN rupee suffered its biggest one-day drop against other currencies in 18 years yesterday, falling 3.7 per cent against the dollar. The currency fell to 68.8 to the dollar, pushing above 69 in trading through the afternoon, and hitting 107 to the pound at the same time. In response, the Reserve Bank of India [...]
Tech firms grab City office space August 28, 2013 TECHNOLOGY, media and telecoms (TMT) firms in the City are to expand by almost a quarter this year as businesses come in search of bigger offices and better value rents. TMT companies took up 869,000 square feet of office space in the first half of the year, Knight Frank said yesterday. The firm expects this [...]
Serco caught in prisoner escort fraud claims August 28, 2013 THE chief executive of FTSE 100 security firm Serco said he was “appalled” last night after the discovery of allegedly fradulent behaviour by some Serco staff working on a prisoner transfer contact. Staff at the FTSE security firm are alleged to have recorded prisoners as having been delivered to court by its vans on [...]
What the other papers say this morning – 29 August 2013 August 28, 2013 FINANCIAL TIMES Amazon tax fight in Supreme Court Jeff Bezos’s Amazon is taking a high-stakes legal battle to the US Supreme Court, hiring one of Washington’s most prominent lawyers Ted Olson to fight the taxation of its shoppers in New York state. Amazon wants the court to review a case about the most incendiary political [...]
Governor stands firm on plan for UK interest rates August 28, 2013 INTEREST rates could stay at rock bottom even after unemployment falls below seven per cent, Bank of England governor Mark Carney said yesterday. In a bid to convince sceptical markets he really is serious about keeping rates down for the next three years, Carney said he would look for a wide range of evidence that [...]