Derby hero heads field of 10 July 2, 2009 HORSE RACING: Epsom Derby and 200 Guineas hero See The Stars heads a strong field of 10 for Saturday’s big race at Sandown, the Coral-Eclipse Stakes. John Oxx’s charge is joined by Rip Van Winkle, who finished fourth in last month’s Derby, as well as Ballydoyle stablemates Malibu Bay and Set Sail. Sir Michael Stoute’s [...]
BRITAIN’S GREAT TRAIN DEBACLE July 1, 2009 NATIONAL Express was last night fighting to remain in the rail industry, as fears mounted it could be stripped of its two remaining franchises. The operator announced it was walking away from its east coast rail franchise, triggering a shock renationalisation of the Kings Cross-Edinburgh line. The news capped a day of woe for the [...]
EXCLUSIVE July 1, 2009 STANDARD Chartered, the emerging markets bank, is close to confirming acting chairman John Peace as its new chairman, sources said last night. The impending appointment, after a period of search led by consultants Egon Zehnder, means it is ever more likely that Win Bischoff, the 67 year-old former chairman of Citigroup, will take the job as chairman of Lloyds [...]
SABMiller in S Africa deal July 1, 2009 SABMILLER, the world’s second largest brewer, yesterday signed a deal to sell black investors 10 per cent of its South African business to comply with post-apartheid rules. The deal will hand black employees and other stakeholders a $775m (£454m) chunk of the company’s Johnannesburg-based subsidiary, at an estimated cost of $220m in the biggest empowerment deal [...]
Britain’s transport policy in deep crisis July 1, 2009 BRITAIN’S transport policy is in chaos. This is hardly news, you might say, but the issue is once again at the fore. It is clear that there is a big problem with the way the rail franchises have been allocated. Firms have an incentive to bid too much for a franchise because they know that [...]
Royal Mail sell-off shelved July 1, 2009 THE government yesterday shelved controversial plans for a part-privatisation of the Royal Mail due to the depressed state of the economy. Business Secretary Lord Mandelson told the House of Lords that “market conditions” had made it “impossible” to complete a deal on “favourable terms.” He added there was “no prospect” of the proposed sale of up [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2009 FINANCIAL TIMES SCRAPPAGE INCENTIVES REVIVE CAR DEMAND Car sales rose in several big European and Asian markets last month, lifted largely by government scrapping incentives aimed at reviving consumer demand. The numbers give weight to the notion that stimulus measures are pulling the global motor industry out of its deep downturn, but carmakers and industry [...]
Pearl faces bondholder battle July 1, 2009 Bondholders in British insurer Pearl Group said last night they would not back a proposed re-listing of the group because of concerns over treatment of the bonds. Pearl, Hugh Osmond’s closed life funds investment vehicle, has said it would float on the London Stock Exchange providing the group with £510m of new capital.
Vodafone and Carphone reunite July 1, 2009 Vodafone and Carphone Warehouse are set to work together again as the mobile phone network looks to improve its position in the fiercely competitive UK market. The renewal of their previous working relationship means Vodafone is abandoning its three-year exclusive deal with rival Phones4U.
Credit card cheques banned July 1, 2009 Banks will be prevented from raising customers’ credit card limits and banned from sending out unsolicited credit card cheques as part of government plans for consumer protection. One in five people have had their credit card limit increased without their consent, said a survey by website Uswitch.
