Boris: I will veto third runway March 25, 2012 LONDON mayor Boris Johnson has insisted he will not support a third runway at Heathrow, despite renewed interest in the plan from other senior Tories. The mayor said the runway would cause “intolerable traffic and fumes in the west of the city – and it will not be built as long as I am mayor [...]
Birds Eye is on block for €3bn March 25, 2012 THE company that owns fish finger maker Birds Eye is being put on the block for a possible €2.9bn (£2.42bn) by Permira, its private equity firm owner. It is understood that Permira has received a number of approaches for Iglo and has appointed Credit Suisse to handle the process. Private equity firms such as Blackstone [...]
Walsh eyes US airline deal March 25, 2012 THE COMPANY behind British Airways is close to appointing an adviser in an attempt to protect its north Atlantic joint venture with American Airlines. The debt-laden US carrier filed for bankruptcy in November last year and could soon become subject to takeover approaches by US Airways and Delta. Willie Walsh, IAG’s group chief executive, is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 25, 2012 FINANCIAL TIMES ROYAL MAIL LOOKS TO DELIVER IPO NEXT YEAR The coalition government aims to begin the privatisation of Royal Mail by selling or floating at least part of it in autumn 2013 if the state-owned postal operator’s finances continue to improve. The sell-off would be Britain’s most ambitious privatisation since John Major broke up [...]
FSA hits back at Prudential claims March 25, 2012 The City watchdog has hit back after claims in a leaked Prudential email that FSA policies are “ludicrous” and “horrendous”. The Financial Services Authority said many of the complaints made in the email should be directed at Brussels or Westminster, as they were responsible for many of the regulations. The FSA defended itself after Barry [...]
GM to expand in low-cost areas March 25, 2012 General Motors may expand production capacity in low-cost countries while closing its Bochum plant in Germany and Ellesmere Port site in Britain, a German magazine said, citing an internal strategy document. If vehicle sales rise, GM would build the additional cars in countries such as Poland, Russia, China, India, Mexico and Brazil, Der Spiegel said, [...]
Army could deliver fuel if drivers strike March 25, 2012 ARMY drivers are on standby to deliver fuel to petrol stations if tanker drivers vote today to strike over Easter. The Unite union will this afternoon announce the decision of 2,000 drivers – responsible for 90 per cent of forecourt deliveries – on whether to take industrial action, starting 3 April. But Cabinet Office minister [...]
Government sector jobs set to drop below 5m by 2017 March 25, 2012 OFFICIAL government employment is set to fall to a modern-era low as a proportion of total UK employment, if the coalition’s plans are carried through until 2017. General government employment is forecast to decline to 4.9m – down from its current level of 5.7m – by the start of 2017, according to the Office for [...]
Santander plans closure of 56 bank branches to reduce overlap March 25, 2012 SANTANDER is understood to be closing 56 of its branches to reduce the overlap that has been created following the mergers of Abbey National, Alliance & Leicester and Bradford & Bingley. The move comes as the Spanish bank continues to negotiate the takeover of 318 Royal Bank of Scotland branches which is due to be [...]
NBNK set for comeback on Lloyds sell-off March 25, 2012 THE bank buyout vehicle run by Lord Levene is about to make another approach for the 632 Lloyds branches put up for sale as it appears a deal with the Co-operative Group could falter. NBNK is planning an improved £1.5bn offer for the Project Verde assets, the future of which appears uncertain after Lloyds last [...]