Banking group calls for closer financial ties in the Eurozone June 24, 2012 CREATING a banking union for the Eurozone could break the fever gripping the shared currency and buy time for governments to put the euro on a viable long-term footing, the Bank for International Settlements said in its annual report yesterday. “If adopted, these measures will break the adverse feedback between the banks and the sovereign [...]
Blair: plan to save euro vital June 24, 2012 TONY Blair said yesterday Germany needs to push a “grand plan” if it wants to save the euro – adding that the UK should leave the door open to joining the single currency eventually. The former Prime Minister told the BBC that Berlin should be prepared “to commit its economy fully to the single currency” [...]
Germans vote for fiscal pact June 24, 2012 GERMANY’S upper house of parliament won multi-billion euro financial concessions from Chancellor Angela Merkel’s government yesterday, clearing the way for parliamentary approval of the permanent bailout scheme for the Eurozone and the fiscal pact. Bavaria state premier Horst Seehofer and other state leaders told reporters outside the chancellery they had reached a deal. Earlier, Seehofer [...]
AB InBev close to deal to buy Corona brewer June 24, 2012 ANHEUSER-BUSCH InBev is nearing a deal to buy the 50 per cent of Corona Extra beer maker Grupo Modelo that it does not own, in a move that could cost the Belgian brewer more than $10bn (£6.41bn), according to reports last night. Citing people familiar with the matter, the Wall St Journal said a deal [...]
Fairy Fox float to hit London this summer June 24, 2012 FAIRY Fox, the Chinese high-street clothing brand, has turned its eyes to the west and plans to list on London’s Alternative Investment Market (AIM) as soon as late July. “AIM is particularly suitable for where Fairy Fox is in its life cycle at the moment and its current projection of growth,” a spokesperson for the [...]
Monitise’s Clairmail deal could be bad news for London market June 24, 2012 MONITISE’S acquisition of US mobile banking software firm Clairmail is expected to pass a shareholder vote today with flying colours. But if approved, the $173m (£111m) deal could be bad news for London’s stock market. It is understood that Monitise, currently traded on AIM, plans to move its listing across the pond once the financial [...]
Wikipedia boss backs O’Dwyer June 24, 2012 WIKIPEDIA founder Jimmy Wales yesterday launched a global campaign calling on home secretary Theresa May to stop the extradition of a British student to the US for alleged copyright offences. Richard O’Dwyer, a 24 year-old student at Sheffield Hallam University, could face up to 10 years in prison for creating TVShack.net, a website that linked [...]
Subway fights VAT in court June 24, 2012 SUBWAY is set to take its battle over the chancellor’s controversial pasty tax to the High Court next month in what could lead to a further embarrassing blow to the Treasury’s efforts to clamp down on VAT loopholes. More than 100 Subway franchisees are appealing against a court ruling in 2010 against the sandwich chain, [...]
BlackBerry firm set to unveil further losses June 24, 2012 THE tech industry is bracing itself for Research in Motion’s first quarter results this Thursday, when the BlackBerry maker is expected to reveal further losses. The Canadian company has struggled to keep up with rising competition, in the form of Apple’s and Samsung’s popular smartphones, and last month announced the hire of banks to help [...]
Julius Baer eyes BoAML’s Latin American and Asian presence June 24, 2012 JULIUS Baer, in talks with Bank of America about buying Merrill Lynch’s non-US wealth management unit, is particularly interested in its presence in Asia and Latin America, chief executive Boris Collardi told a newspaper yesterday. Asked by Swiss newspaper NZZ am Sonntag what was attractive about this deal, Collardi was quoted as saying: “The strong [...]