Ross returns to the City as Cosalt chair November 30, 2009 DAVID Ross, the co-founder of British mobile phone retailer Carphone Warehouse, has returned to the City as chairman of marine safety group Cosalt, months after he stepped down from this post in the wake of a share disclosure row. In December last year Ross quit a series of high-profile roles when it emerged he had [...]
BEST OF THE BROKERS November 30, 2009 ATKINSInvestec said yesterday Atkins was weathering the economic downturn well, as it continued to adjust its resources to meet expected market demand. The group responded early to the recessionary challenges, it added, which shows in its results. The broker is keeping its “hold” view and raising its target price on the stock. DMGTInvestec also said [...]
International car sales are set for a rise next year as US and China lead the way November 30, 2009 CAR sales worldwide will reverse their decline next year, analysts at Groupama Asset Management said yesterday, as a strong recovery in the US and a pickup in trade in China offsets tumbling demand in Europe. The analysts said they expected sales worldwide to rise four per cent in 2010 despite a drop off in government [...]
Borders administrators wield the axe on 36 staff November 30, 2009 BORDERS, the bookshop that has fallen into administration, yesterday made its first round of redundancies. Joint administrators Phil Duffy, Geoff Bouchier and David Whitehouse of MCR announced that a total of 36 employees based at the London head office of Borders have been made redundant. Duffy said that the redundancies did not impact the business [...]
CITY MOVES WHO’S SWITCHING JOBS November 30, 2009 Panmure Gordon Panmure Gordon yesterday announced it has hired Ed Warner to its Board as a non-executive director from 1 December 2009. Warner, 46, is currently chairman of UK Athletics Limited, the sport’s national governing body, and Tradefair Holdings. He is also a non-executive director of Clarkson, Moneycorp Markets, The Eastern European Trust, Standard Life [...]
CENTRAL BANK ACTS TO HALT DUBAI ROUT November 29, 2009 The United Arab Emirates’ central bank has issued emergency credit facilities to banks in the region amid mounting fears that Dubai’s debt crisis could contaminate the rest of the Middle East. The bank – based in Abu Dhabi – issued a statement yesterday saying it “stands behind local and foreign banks operating in the country” [...]
UK and US slam Iran’s atomic plan November 29, 2009 IRAN defied heads of state and governing bodies worldwide last night, as it announced plans to build 10 new nuclear plants. The Iranian nuclear agency will start work on five uranium enrichment sites over the next two months, Tehran said, with five more to be set up at a later date, with the aim of [...]
UBS may quit Switzerland November 29, 2009 UBS last night moved to play down reports that it would consider moving its headquarters out of Switzerland in response to the prospect of tighter regulation. Oswald Grübel, chief executive of the global banking giant, is said to have made the threat to a meeting of industry figures at the Zurich Business Club on Thursday. [...]
Forget Dubai’s woes: Iran is the real risk November 29, 2009 BANKS have written down $3 trillion or so over the past couple of years. We should therefore keep the crisis that is engulfing Dubai in some sort of perspective. The total debts of the Dubai government are around $80bn and nobody is suggesting that more than a small proportion will need to be written off. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 29, 2009 THE SUNDAYSThe Sunday TelegraphRATE HIKE THREATENS EXISTENCE OF RURAL PETROL STATIONSHundreds of rural petrol stations face closure if an “outrageous” increase in business rates is pushed through next April, forecourt owners have warned. Owners of the UK’s 6,000 independent petrol stations will this week launch a major MP-backed campaign to urge a government body to [...]
