Lagardere to sell EADS stake November 14, 2012 French media group Lagardere said yesterday it will probably sell its 7.5 per cent stake in Airbus owner EADS by the end of next year. Chief executive Arnaud Lagardere said it was “more than probable” that the group would sell its stake, after the firm called off merger talks with BAE Systems last month. His [...]
Ivy agrees Madoff scheme payout November 14, 2012 New York investment adviser Ivy Asset Management has agreed to pay $210m (£132m) to settle lawsuits for advising clients to invest in Ponzi schemer Bernard Madoff, the city’s attorney general Eric Schneiderman said yesterday. Ivy, a subsidiary of Bank of New York Mellon, withheld damaging information about Madoff to make millions of dollars in fees, [...]
Give someone Opportunity this Christmas November 14, 2012 BEATRICE and her family are among the many that were helped by the money raised from the appeal last year. Full Name: Beatrice Boaten Gender: Female Age: 60 City, Country: Kumasi, Ghana Children: five aged 18 to 34 Husband: David, age 72 What type of business do you operate? I own a three acre cocoa [...]
City A.M.’s Christmas appeal outstripped most rivals in 2011 November 14, 2012 We hope to beat that this year and be the number one appeal LAST year’s City A.M. Christmas appeal raised almost £1.6m – a hugely generous showing by our readers and the second highest grossing Christmas newspaper appeal of 2011, according to industry estimates. The total from last year was, in part, made possible by [...]
How to give November 14, 2012 online at: www.cityam.com/appeal by text CITY13 and amount (£5 or £10 only) to 70070 Text donations may not work from company mobile phones as these often block premium messages. credit or debit card by phone to Opportunity International (01865 725 304) If donations exceed our programme needs in Africa, they will be deployed elsewhere. TWEET [...]
Taxman to pay out billions to multinationals November 14, 2012 PROMINENT UK-based multinational firms are on the cusp of receiving enormous payouts from the Treasury after a European court yesterday ruled in their favour on a landmark tax case. Lawyers now say the total bill owed by the government could reach billions of pounds, depending on how many applications follow the decision. In a test [...]
Blankfein bearish on outlook as Goldman names new partners November 13, 2012 THE INVESTMENT banking downturn does not look like coming to an end any time soon, Goldman Sachs boss Lloyd Blankfein warned last night, ahead of the bank today trimming partner numbers to save costs. “Sometimes cycles can last a very long time,” he told a banking conference, according to Bloomberg. But Blankfein also warned the [...]
Libor could hit banks’ ratings November 13, 2012 LAWSUITS against banks over Libor manipulation could be so expensive that their credit ratings get cut, leading ratings agency Moody’s warned yesterday. It came as it emerged 10 senior traders at RBS are being investigated by US authorities for fixing the bank’s submission to the key inter-bank lending rate. Moody’s said the combination of regulatory [...]
Inflation flies further away from 2pc target November 13, 2012 CONSUMER price inflation rocketed higher in October, due to tuition fee hikes and booming food prices, data revealed yesterday. The jump defied Bank of England expectations that inflation would fall towards its two per cent target. This jump might have been a factor in the Bank’s decision to hold fire on more quantitative easing (QE) [...]
EU waters down gender quota plans after business opposition November 13, 2012 THE EUROPEAN Union yesterday significantly softened its plans to force more equal representation on non-executive boards. This came after the plans to force strict 40 per cent quotas were met with fierce opposition from firms, womens’ groups and member states including the UK. The new plans will only require member states to impose sanctions on [...]