Top firms face worst pension deficit ever November 23, 2009 FTSE GLOBAL 100 companies are running a record combined pension deficit of €220bn (£200bn) as the financial crisis continues to bite. The deficit, as at the end of September, is the largest shortfall on record and compares with an equivalent figure of €180bn at the end of 2008 and just €20bn a year earlier. Consulting [...]
Cadbury shares hit record highs on talk of bids November 23, 2009 CADBURY shares yesterday hit a record high as the market bubbled with speculation that Hershey and Nestlé are waiting in the wings to make a bid for the chocolate maker. Cadbury stock reached a five-year peak of 819.50p, before closing 1.69 per cent up at 814p. Nestlé is believed to be holding talks with bankers [...]
Endemol buys Tiger Aspect, Tigress and Darlow Smithson to be biggest indie November 23, 2009 ENDEMOL, famous for producing Big Brother, has bought Tiger Aspect, Darlow Smithson and Tigress for an estimated £40m from IMG. The deal will make the entertainment giant the largest independent television producer in the UK, with revenues of more than £250m. Tim Hincks, chief executive of Endemol UK, said: “We’re excited about working with three [...]
DIMON TIPPED FOR US TREASURY POST November 23, 2009 JP Morgan Chase chief executive Jamie Dimon is being tipped as an eventual successor to US Treasury Secretary Tim Geithner. Dimon has won plaudits for returning the bank to a steady footing. Whereas Geithner has come under fire over the dollar’s weakness, the US government’s growing deficit and rising unemployment.
Eurozone sees rise in activity November 23, 2009 EUROZONE economic activity rose at its fastest pace for two years in November, raising hopes that the economic recovery is well underway. The data shows the eurozone economy made further progress after emerging from its worst ever recession in the third quarter, although the rate of growth to come is likely to be weak. Markit [...]
OECD says Britain’s recovery is lagging behind other states November 23, 2009 THE world’s leading industrial countries emerged from recession in the three months to September – but Britain’s recovery is lagging behind, a leading economic body said yesterday. The Organisation for Economic Cooperation and Development (OECD) said its 30 member states averaged growth of 0.8 per cent in the quarter, while the UK’s economy contracted by [...]
US existing homes sales pace is up 10 per cent to two-year high November 23, 2009 SALES numbers for previously owned homes in the US jumped more than 10 per cent in October to reach the highest rate since February 2007. The National Association of Realtors (NAR) said sales surged 10.1 per cent month-on-month to an annual rate of 6.1m sales, up from 5.54m in September. Analysts said the boom was [...]
KING IN THE HOT SEAT November 23, 2009 BANK of England governor Mervyn King will be grilled by MPs this morning, when he appears in front of the Treasury Select Committee along with some other members of the Monetary Policy Committee. The MPs, led by chairman John McFall, are likely to quiz King on inflation and the perilous state of the public finances.
Carphone freezes out Sony Ericsson November 23, 2009 CARPHONE?WAREHOUSE has stopped selling Sony Ericsson’s flagship smartphone due to software problems, dealing a blow to the loss-making Japanese-Swedish firm’s turnaround plans. Europe’s biggest mobile phone retailer said yesterday it temporarily withdrew the recently launched Satio. “From time to time we experience issues with new handsets and their software, which may result in a customer [...]
Cosmen family ups interest in Nat Express November 23, 2009 JORGE COSMEN’S family, the largest shareholder in National Express which has been at loggerheads with the transport company over its financing and future, upped its stake in the bus and rail group yesterday. The Cosmens rose their stake to 19.46 per cent, up from 18.97 per cent, ahead of a vital vote on National Express’ [...]
