Wall Street is not facing another bubble September 27, 2009 ONE of the most important questions facing investors is what to make of the rebound in asset prices and especially equities. With the economy and profits starting to recover, much of the resurgence is clearly attributable to improved fundamentals. But some of the newfound optimism is also being driven by the vast amounts of liquidity [...]
INM considers its future September 27, 2009 IT’S decision day for the embattled Independent News & Media (INM) group as its bitterly divided board meets to review key restructuring proposals. INM said yesterday it had not made a final decision on any proposal. The heavily indebted company will likely discuss a debt-for-equity swap with bondholders, announced last week, and a separate rescue [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 27, 2009 THE SUNDAYSThe Sunday TelegraphFSA TOLD TO CLEAN UP OIL MARKETSThe Financial Services Authority has been told to examine its statutes to ensure it can prosecute oil speculators practising market abuse. The financial watchdog must also consider bringing in stronger measures to detect speculators using techniques such as phone-tapping, as well as ensuring they have enough [...]
DZ Bank raising 900m capital September 27, 2009 Germany’s biggest mutual bank is near to raising €900m (£834m) of capital as it seeks to become one of the few institutions in the country to recover from the financial crisis without government help. DZ Bank is next month set to raise up to €400m from a rights issue backed by most of its owners. [...]
London loses crown of the cities September 27, 2009 London has lost its place at the top of a poll of the best European cities for real estate investment, according to LaSalle investment management. Munich jumped up the list to be rated as the most attractive European city for investment , followed by Paris. Whereas Dublin, which previously ranked as fifth most attractive, has [...]
Gap founder dies aged 81 September 27, 2009 Donald Fisher, who co-founded Gap Inc with his wife Doris forty years ago, died aged 81 yesterday after a battle with cancer. Gap has more than 3,100 stores.
Abbott Labs nears 4.4bn pharma deal September 27, 2009 Belgium drugs conglomerate Solvay is believed to be close to a €4.8bn (£4.4bn) deal with US firm Abbott Laboratories. Solvay put its pharmaceuticals business up for sale two months ago in a bid to raise cash for acquisitions in its chemicals portfolio. Swiss drugmaker Nycomed had previously made an offer between €4bn and €5bn for [...]
Takeover Panel poised to step into the bid battle between Kraft and Cadbury September 27, 2009 KRAFT is this week expected to be given its “put up or shut up” deadline by the Takeover Panel, which will force the US giant to either make a formal offer for Cadbury or walk away for six months. Due to the speed of the appeal by Cadbury, the panel is expected to give Kraft [...]
O2 BE DOING SO NICELY September 27, 2009 London’s O2 arena recorded a pre-tax profit of £15.6m in its first full year of trading, to make it the most popular music arena in the world. The arena sold 2m tickets to 140 events last year and it achieved revenue of £53m with headline acts such as Celine Dion and Elton John.
New Look set for return to public market September 27, 2009 HIGH street retailer New Look is mulling a £1.7bn stock market flotation – six years after it was taken private. The budget fashion chain owned by private equity firms Apax and Permira has enjoyed robust trading throughout the downturn as it steals cash-strapped shoppers away from its mid-market rivals. Founder Tom Singh, who still owns [...]
