MySpace to axe 400 in cost cut June 16, 2009 MYSPACE, the social network owned by Rupert Murdoch’s News Corp, yesterday unveiled plans to axe 30 per cent of its staff to lower costs as it struggles to stay popular in the face of rising competition. MySpace will be left with about 1,000 employees, the group said, suggesting around 400 staff will lose their jobs. [...]
Headline UK inflation still above target June 16, 2009 BRITISH headline inflation fell by much less than had been expected in May, raising speculation that the Bank of England’s Monetary Policy Committee (MPC) may decide not to extend its quantitative easing programme beyond the current £125bn. Official data yesterday showed that consumer prices rose 0.6 per cent last month, taking the annual rate of [...]
Bruised Lions count cost of unbeaten run June 16, 2009 SOUTHERN KINGS (8) vs. BRITISH LIONS (20) THE British and Irish Lions were left counting the cost of their bruising encounter with Southern Kings as preparation for the first Test with South Africa suffered a new double setback. Prop Euan Murray and fly-half James Hook both limped out of the hard-fought 20-8 victory in Port [...]
Posen adds US voice to MPC June 16, 2009 THE Bank of England announced yesterday that US economist Adam Posen will succeed policy “hawk” Tim Besley as an external member of the Monetary Policy Committee (MPC). Posen is deputy director at the Peterson Institute for Economics in Washington and a visiting scholar at the US Federal Reserve and European Central Bank. The appointment of [...]
Deutsche Telekom prices bond June 16, 2009 Deutsche Telekom is selling a $1.5bn (£912m) two-part global benchmark bond, one of the banks managing the sale confirmed yesterday. The offering includes $750m in five year notes expected to yield 225 basis points over comparable US Treasuries and $750m in 10 year notes expected to yield 237.5 basis points over Treauries. Barclays Capital and [...]
Eni mulls North Sea asset sale June 16, 2009 Italian oil company Eni is examining the sale of some of its assets in the North Sea worth around $1bn (£610m), its chief executive Paolo Scaroni said yesterday. “We will see if there are opportunities to make sales. From time to time we clean up our portfolio,” he said. Eni’s North Sea fields produce 20,000 [...]
Owner managers eye expansion June 16, 2009 Almost three quarters of entrepreneurs in owner-managed businesses are planning to make an acquisition or begin a joint venture with former competitiors in the next three years, a survey has revealed. Accountancy firm Baker Tilly questioned 300 board directors of companies with a turnover between £5m and £50m.
Colly showed his limitations June 16, 2009 AT THE CREASE WITH ANDY LLOYDTHE British summertime might have conspired against England in Monday night’s World Twenty20 elimination against the West Indies, but the truth is that, over the whole tournament, Paul Collingwood’s men did not deserve to go beyond the Super Eights stage. Let’s face it: they were beaten by Holland and played [...]
Hanson Westhouse trading on Aim June 16, 2009 Shares in corporate finance and broking group Hanson Westhouse yesterday commenced trading on Aim following its acquisition by emerging market equity finance house SovGEM. The combined group, which has been renamed Hanson Westhouse Holdings, also successfully raised £850,000 via a placing of new shares at 59.5p a share, to fund the costs of the acquisition. [...]
O’BRIEN’S MASTER CLASS June 16, 2009 ODDS-ON favourite Mastercraftsman pipped Delegator to hand trainer Aidan O’Brien his sixth success in the St James’s Palace Stakes at Royal Ascot. Elsewhere, 11-4 favourite Scenic Blast blew away its rivals for a fourth Australian win in the King’s Stand Stakes in five years, while 100-30 shot Paco Boy cruised home in the Queen Anne [...]
