Tories ahead, but more work still needed July 20, 2009 IN the main, yesterday’s Tory White Paper was a success. George Osborne is right to want to abolish the FSA and make the Bank of England responsible for financial stability. I’m delighted the Tories won’t be proposing a separation of investment and retail banks any time soon, and that any break-up of Lloyds or RBS [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2009 FINANCIAL TIMES ARCELORMITTAL ATTEMPTS TO EASE DEBT BURDENArcelorMittal has started talks with its banks about making conditions for re-paying its $26bn (£16.2bn) of debt less onerous, in a bid to reduce financial pressure on the company as the global downturn continues. The world’s biggest steelmaker has taken this step as an insurance policy against its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2009 FINANCIAL TIMES ARCELORMITTAL ATTEMPTS TO EASE DEBT BURDENArcelorMittal has started talks with its banks about making conditions for re-paying its $26bn (£16.2bn) of debt less onerous, in a bid to reduce financial pressure on the company as the global downturn continues. The world’s biggest steelmaker has taken this step as an insurance policy against its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2009 FINANCIAL TIMES BANKRUPTCIES SET TO RISEThe number of corporate bankruptcies is set to surge by 35 per cent this year, turning the world economy into a “burial ground” for businesses, according to a study by Euler Hermes, the credit insurer. In a study published today the Paris-based unit of Allianz, says the rate of corporate [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2009 FINANCIAL TIMES BANKRUPTCIES SET TO RISEThe number of corporate bankruptcies is set to surge by 35 per cent this year, turning the world economy into a “burial ground” for businesses, according to a study by Euler Hermes, the credit insurer. In a study published today the Paris-based unit of Allianz, says the rate of corporate [...]
Mutuality stages a comeback as Co-op buys Somerfield for £1.56bn July 17, 2008 Three months ago Co-operative Group chief executive Peter Marks unveiled a bold three-year plan to double the group’s profits. The fortunes of the mutual store group were flagging, with 2007 profits down almost 50 per cent and the group offering little competition to the main supermarket chains. Yesterday, the first phase of Marks’ plan to [...]
Co-op will vote against BSkyB at AGM November 2, 2005 Pay TV broadcaster BSkyB suffered a fresh blow to its share buyback plans after shareholder Co-operative Insurance Society (CIS) announced it would vote against the proposal at what is expected to be a stormy AGM this Friday. The insurer, which joins a growing list of institutional investors who have threatened to scupper the plan, said [...]
Co-op shutting up shop October 18, 2005 The Co-op is in talks to sell two thirds of its loss-making department stores to Anglia Regional Co-operative Society as it prepares to exit the business. The food to funerals business intends to dispose of its 36-strong regional department store division within two years. It will close the 10 worst performing stores in February with [...]
How the Queen’s Dressmaker got its cutting edge back October 25, 2005 When Timothy Maltin was just 27 he became the managing director of a national institution. Five years ago, Timothy Maltin went to work in tracksuit bottoms and a green Pilgrim Services sweatshirt top. Just the job when you’re running a grave tending business. But these days Maltin is chairman and chief executive of Hardy Amies, [...]