Snow set to blast London as train services scrapped January 17, 2013 COMMUTERS were last night braced for travel chaos today as train operators cancelled services ahead of a snow blizzard set to batter the UK. Up to six inches are expected to fall across London throughout this morning. The Met Office last night placed much of the South East on an amber warning, the second most [...]
Buyers start to circle HMV sale January 17, 2013 COLLAPSED retailer HMV is being circled by up to 50 potential suitors keen to buy parts of the chain, it emerged last night. HMV, which appointed Deloitte as administrators on Monday, has received expressions of interest from a variety of potential buyers, including private equity groups and trade buyers, Deloitte said. Game, the video game [...]
S&P 500 soars to five year high January 17, 2013 The S&P 500 advanced to a five-year intraday high yesterday on signs of strength in the housing and job markets and on better-than-expected results from online marketplace eBay. The S&P stayed on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007. [...]
What the other papers say this morning January 17, 2013 FINANCIAL TIMES Senators seek energy drinks data US senators stepped up their investigation into energy drinks on Thursday, demanding that companies making products such as Monster, AMP, Red Bull and Rockstar hand over internal documents that prove they are safe. Senators Richard Blumenthal and Richard Durbin and Representative Ed Markey asked 14 energy drink companies [...]
Tesco cuts US jobs ahead of exit January 17, 2013 Retail giant Tesco has slashed 50 jobs at its US company Fresh & Easy as it gears up to pull out of North America. Most of the cuts are coming at its head office in Los Angeles. Tesco said: “We have cut a small number of positions in the head office as we continue the [...]
Temasek dismisses Dell deal January 17, 2013 Singapore state investor Temasek is not interested in investing in computer giant Dell as part of a consortium led by private equity firm Silver Lake Partners, a source said. Temasek was named as one of the potential investment partners Silver Lake has tapped to join. “It’s not happening,” a source said. Silver Lake is exploring [...]
City A.M. reporter recognised January 17, 2013 A CITY A.M. reporter has been named in the second annual 30 to Watch young journalists by MHP Communications. Michael Bow (right) was named in a top 30 list unveiled at an event in London last night. Nominees had to be under 30 to qualify for the awards, which recognise those who have contributed quality [...]
BoAML recovery hit by crisis-era mortgage costs January 17, 2013 BANK of America Merrill Lynch’s (BoAML) profits recovered strongly through 2012, the institution reported yesterday, though mortgage charges hit profits in the last quarter. Profits came in at $4.188bn (£2.62bn) for 2012, almost three times the $1.446bn recorded in 2011. Over the past three quarters mortgage origination has grown by an average of 10 per [...]
Citi falls behind rivals as profits dip on legal and layoff costs January 17, 2013 CITI’S profits dropped sharply on the year as legal bills and layoff costs took a major chunk out of its rising revenues, the bank said yesterday. In contrast with JP Morgan and Goldman Sachs’ healthy figures, Citi’s income dropped 32 per cent to $7.54bn for 2012 as a whole. Profits increased in the fourth quarter, [...]
Barclays tells staff to behave well or get out January 17, 2013 STAFF at Barclays must obey a new code of conduct or leave the bank, chief executive Antony Jenkins said yesterday, in an internal memo sent to staff. Six months on from the bank’s £290m Libor fine and several years into the payment protection insurance (PPI) scandal, Jenkins has laid down a set of five basic [...]