Commuters face delays as bad weather drags on January 6, 2010 COMMUTERS in London were bracing themselves for more travel disruption today as Britain remained in the grip of the deep freeze. Some of the worst weather in years has hit trains, flights and roads and forced thousands of schools to close, with many said likely to remain shut today. Train operators voiced hopes that services [...]
Fed cautious over housing January 6, 2010 SOME Federal Reserve officials worried last month that waning government support could snuff out a fragile housing market recovery and a few believed it might be desirable to step up asset purchases. Labour market weakness remained an important concern for Fed officials, the minutes released last night showed, with officials saying they expect unemployment to [...]
BA and Unite in new talks January 6, 2010 BRITISH Airways will hold talks with union leaders representing cabin crew this week, in a bid to avoid potentially crippling industrial action. Unite is already balloting its members for a second strike after a planned 12-day action over the Christmas period was ruled illegal by a High Court judge. Discussions will revolve around planned changes [...]
Goldman set to sell out as SMFG taps markets for £6bn January 6, 2010 GOLDMAN SACHS agreed yesterday to convert 100 billion yen worth of Sumitomo Mitsui Financial Group (SMFG) preferred shares into common stock, as part of the Japanese bank’s preparation for tougher capital requirements. The agreement, which comes as part of Japan’s third largest bank’s plans to raise up to 888.9bn (£6bn) yen through a public offering [...]
MPs blast ministers over deficit cut plan January 6, 2010 THE government yesterday faced attacks over the lack of detail in its plans to cut Britain’s ballooning budget deficit. MPs on the influential Treasury Select Committee said ministers had failed to spell out in December’s PreBudget Report where the axe would fall in future departmental budgets. Labour has pledged to halve the deficit in the [...]
Pearl’s creditors set to reject deal on suspended payments January 6, 2010 PEARL Group’s bondholders plan to reject a deal that the insurer hoped would end a bitter dispute over suspended interest repayments. The firm, founded by pizza entrepreneur Hugh Osmond, suspended interest payments on £500m of its bonds last year, sparking outrage from bondholders. Pearl has tabled a deal offering to buy back £100m of the [...]
Top UK banker at Morgan Stanley quits January 6, 2010 ONE of Morgan Stanley’s top London bankers has quit the firm just days after new chief executive James Gorman took over at the US bank. London-based John Hyman, co-head of global capital markets, left the firm two weeks ago for personal reasons, and his departure was revealed in an internal conference call on Monday. It [...]
UK and European markets start year in the red January 4, 2010 UK and European stock markets are set to start the year in the red, after ending 2009 close to their highs of the year. GFT is quoting the FTSE 100 index to open down as much as 39 points from Friday’s close, at a level of 5,373. The German DAX is also expected to start [...]
United dumped out by Leeds January 4, 2010 MANCHESTER United boss Sir Alex Ferguson risked further punishment by criticising referee Chris Foy following his side’s shock FA Cup elimination by League One Leeds United. A first-half goal from Jermaine Beckford was enough to inflict Ferguson’s first FA Cup defeat to lower league opposition, and his maiden exit at this stage of the competition, [...]
Classy Kallis rescues SA as England strike early January 4, 2010 BATSMAN Jacques Kallis’s 33rd Test century helped steer South Africa to 279-6 after England had the hosts struggling at 127-5 on day one of the third Test in Cape Town. Kallis was left unbeaten on 108 at the close after sharing an 89-run stand with keeper Mark Boucher (51) for the sixth wicket. England bowlers [...]
