Global climate talks open in Cancun November 29, 2010 THE latest round of United Nations climate talks opens today with almost 200 nations meeting in Mexico. The two-week conference at the beach resort of Cancun aims to agree on funds and approaches to preserve rain forests and prepare for a hotter world. It will also seek to formalise existing targets to curb greenhouse gas [...]
New appointments at HSBC November 26, 2010 HSBC’s chief executive-designate, Stuart Gulliver, announced changes to the bank’s top management and structure today. The changes are the first indication of his planned strategic direction before he formally steps into the chief executive role in January. Paul Thurston, the current UK and Europe chief executive, has been appointed chief executive of a newly created [...]
Goldman Sachs, HSBC prepare BAA stake sale November 26, 2010 SPANISH infrastructure group Ferrovial has hired Goldman Sachs and HSBC to sell a ten per cent stake in BAA, Britain’s largest airport operator and the sale will begin next week. The infrastructure group, which owns 55.9 per cent of BAA, announced the stake sale in October and could raise up to €200m (£169m) from the [...]
Brussels pushes for short-selling ban power November 26, 2010 THE European Parliament and EU executive are pushing to fast-track powers to ban short-selling of government debt by early 2011. Senior officials in the European Commission, which is scrambling to contain spiralling borrowing costs for countries like Ireland and Portugal, believe the option to ban would prevent speculators from aggravating such problems. Michel Barnier, the [...]
Encouraging third quarter for Harvey Nash November 26, 2010 RECRUITMENT specialist Harvey Nash today delivered a cheering third-quarter trading update with both revenues and gross profits up 24 per cent in the period. Growth in the three months to 25 November built on a strong first-half performance, leading the company to predict that full-year results will be at the top end of current market [...]
Investors brace for Irish bank bond swaps November 26, 2010 EXPECTATIONS grew today that bondholders in Irish banks may be offered the chance to swap billions of euros of debt for new bonds, sharing the pain as they realise a loss – but avoiding a potentially worse outcome. Such tenders have been used successfully by Irish and other European banks during the financial crisis. to [...]
Chrysalis in £107m takeover deal November 26, 2010 LONDON music group Chrysalis has today agreed a £107.4m takeover deal, ending weeks of speculation over its discussions with potential buyers. The publisher, which owns the rights to songs by artists such as David Bowie and Michael Jackson, is being bought by BMG Luxco, a joint venture formed from German media group Bertelsmann and private [...]
Double digit trading rise at John Lewis November 26, 2010 UPMARKET retailer John Lewis has reported strong trading figures over the past week after festive shoppers turned out to spend on Christmas. The department store chain took £88m in the week ending Saturday 20 November was up 11.5 per cent on the same period in 2009 and 29 per cent higher than 2008, the company [...]
Double digit trading rise at John Lewis November 26, 2010 UPMARKET retailer John Lewis has reported strong trading figures over the past week after festive shoppers turned out to spend on Christmas. The department store chain took £88m in the week ending Saturday 20 November was up 11.5 per cent on the same period in 2009 and 29 per cent higher than 2008, the company [...]
Ofgem to review retail energy market November 26, 2010 ENERGY regulator Ofgem is to launch a review of the UK’s energy retail market today after flagging concerns that suppliers are charging too much. Its latest analysis of retail prices shows the margin on a standard dual fuel tariff is now about £90, up 38 per cent from September’s level of £65. Ofgem said that [...]