Russian shares drop sharply June 23, 2009 Shares in Russia slid further yesterday, extending losses to more than 20 per cent this month, confirming its reputation of one of the world’s most volatile markets. While the FTSE All World Emerging index fell 9.7 per cent from its 1 June peak, Russia’s RTS has tumbled 21 per cent since 2 June, including a [...]
Intel and Nokia team up June 23, 2009 Intel and Nokia have revealed plans to work together to create the next generation of mobile computing. The move brings Intel closer to a breakthrough in the mobile phone market and the potential adoption of its chips in handsets. Intel’s microprocessors run about 80 per cent of the world’s personal computers but the firm has [...]
Anglo braced for more bids from abroad June 23, 2009 ANGLO AMERICAN’S share price recovered from initial losses yesterday on market speculation that China’s Chinalco and Brazil’s Vale could emerge as potential suitors and make a bid for the company. Investors had started to dump their Anglo shares, following its rebuttal of rival miner Xstrata’s all-share, nil-premium bid for it earlier this week. “We were [...]
US in green boost for Ford and Nissan June 23, 2009 FORD, Nissan and start-up company Tesla will reap the benefits of a $25bn (£15bn) loan programme from the Obama administration, designed to help them overhaul their US factories and make more eco-friendly cars, it emerged yesterday. The news came as Nissan unveiled plans to mass-produce electric vehicles at its Tennessee plant. Chief executive Carlos Ghosn [...]
LIVERPOOL WALK ON June 23, 2009 ROYAL Bank of Scotland yesterday confirmed it is close to reaching a refinancing deal with Liverpool over the football club’s debt. The club’s co-owners, Tom Hicks and George Gillett, took out a £350m loan from RBS when they took over the club in 2007. The loan was due to be repaid by 24 July.
RBSrisk director nets share deal June 23, 2009 Royal Bank of Scotland admitted yesterday that its new head of risk Nathan Bostock will get a share bonus unrelated to group performance. Bostock, who was appointed as head of restructuring and risk earlier this year, was awarded 1.18m shares, worth £463,000 at the time he joined the bank. RBS said Bostock was being given [...]
Mandelson wins costs from MAG June 23, 2009 Business secretary Lord Mandelson has succeeded in a bid to reclaim legal costs from the Merger Action Group (MAG), which launched an unsuccessful legal bid to prevent the takeover of HBOS by Lloyds TSB. The Competition Appeal Tribunal (CAT) awarded the Department for Business Enterprise and Regulatory Reform (Berr), £35,000 in costs, but rejected a [...]
Regulation gurus speak to City June 23, 2009 EU regulation guru Jacques de Larosiere will join Financial Services Authority chairman Lord Adair Turner and Conservative Sir James Sassoon to speak at the Business for New Europe (BNE) conference. The trio, who have each produced recommendations on the future of regulation, will address an audience of business leaders at JP Morgan’s Victoria Embankment headquarters.
Brown expels Iranian diplomats June 23, 2009 Prime Minister Gordon Brown expelled two Iranian diplomats from the UK yesterday, after Iran forced two British diplomats to leave. President Obama broke his silence, criticising Iran and denouncing the regime’s “threats, beatings and imprisonments”.
Aldi and Lidl’s growth rate falling behind June 23, 2009 DISCOUNTERS like Aldi and Lidl are now growing less quickly than British stalwarts such as J Sainsbury and Morrisons in a sign that the traditional supermarkets’ fight-back is succeeding, a survey showed yesterday. Britain’s grocery market grew by a recession-beating 6.5 per cent in the 12 weeks to 14 June compared to the same period [...]
