McMahon group plans Newcastle bid June 9, 2009 SINGAPORE-based investment company the Profitable Group has emerged as a leading contender to buy Newcastle United from beleaguered owner Mike Ashley. The company, whose board includes former Liverpool and England midfielder Steve McMahon, is said to want to retain Alan Shearer as manager. The Profitable Group has previously been linked with buying the Magpies, who [...]
SUMMER SALES June 9, 2009 First Kaka, now Ronaldo for RealREAD MADRID president Florentino Perez began his pursuit for Manchester United’s Cristiano Ronaldo last night insisting he would do “everything possible” to land the Portuguese star. Perez is building a new team of ‘galacticos’ after securing the £59m transfer of Kaka on Monday night, and is now set to test [...]
TEN US BANKS TO REPAY TARP FUNDS June 9, 2009 THE US Treasury yesterday gave the green light to 10 Wall Street banks to begin repaying $68bn (£41.7bn) in state funding they received as part of the Obama administration’s Troubled Asset Relief Programme (Tarp). The banks finally received permission to begin paying back the funds, which are held by the US Treasury in the form [...]
City chaos as strikes go ahead June 9, 2009 LONDON was thrown into chaos last night as London Underground (LU) staff staged a 48-hour walk-out. Last-ditch talks between RMT union officials and LU bosses fell apart just before the 7pm strike start-time, as the union accused transport chiefs of “pulling the rug from under a workable agreement” by bringing in lawyers. Transport for London [...]
Horlick outed as Bramdean secret bidder June 9, 2009 BRAMDEAN Alternatives fund manager Nicola Horlick yesterday dropped a bombshell on the City by revealing she was behind the bid approach announced in the middle of her public row with major shareholder Vincent Tchenguiz. Bramdean Alternatives confirmed yesterday that the approach, initially made on 17 March but announced on 30 April, came from Petersfield Asset [...]
Buyers eye Thomas Cook stake June 9, 2009 SHARES in holiday operator Thomas Cook yesterday jumped by 10 per cent to 235p despite the collapse of its majority shareholder Arcandor, on the back of bidder speculation. City A.M. understands that Germany’s leading tour operator Rewe is one of several potential bidders interested in snapping up Arcandor’s 52.8 per cent stake. It expressed an [...]
Darling hits out at plans for greater EU regulation June 9, 2009 CHANCELLOR Alistair Darling has found German support in his bid to stop Europe-wide financial watchdogs having the power to dictate rules to national regulators. Darling spoke out against the two proposed bodies at a Luxembourg meeting of European finance ministers, with backing from his German counterpart Peer Steinbruck. The row is over whether the proposed [...]
More RBS staff face the axe June 9, 2009 Royal Bank of Scotland confirmed yesterday that 500 staff in its manufacturing division could lose their jobs as part of 4,500 redundancies announced in April. The bank said that cuts would be made across 28 centres, 140 coming with the closure of its Glasgow office.
UK government owed 17bn June 9, 2009 The UK government was owed £17.3bn in outstanding tax, interest and penalties as of 31 March 2008, the House of Commons Public Accounts Committee (PAC) said yesterday. An HMRC spokesperson said that the report is not a reflection of HMRC debt activity as it stands – things have moved on and HMRC has made even [...]
Versace names new chief exec June 9, 2009 Italian fashion designer Gianni Versace SpA has named Gian Giacomo Ferraris of the Jil Sander Group as its new chief executive, after Giancarlo Di Risio resigned last week . It is believed that Di Risio and design head Donatella Versace had disagreed sharply over strategy, especially cost cuts, as the current financial crisis takes its [...]
