Lenders hope for boost from Crosby July 28, 2008 The crumbling housing market is holding its breath for the publication of the Crosby review tomorrow into the funding struggles facing British banks, amid speculation that the government is working on a new mortgage debt swap plan to help soften the effects of the credit crunch. Sir James Crosby, the former HBOS chief executive and [...]
London hardest hit as house prices suffer further falls July 28, 2008 Fresh evidence that the housing market is continuing to deteriorate emerged today as an influential survey revealed prices fell for the tenth month in a row – with most of the declines hitting London. House prices fell a further 1.2 per cent in July, compared to a 1 per cent fall from June, according to [...]
Hg Capital considers bid for magazine publisher July 28, 2008 Wilmington Group, publisher of the journalists’ magazine Press Gazette as well as many other business titles, will today confirm that it is in preliminary talks with Hg Capital about a possible takeover by the private equity firm. While informal talks have been held with Hg Capital, it is understood that a formal offer would be [...]
UK industry is modern, high-tech and a good bet for savvy investors July 25, 2008 Funds and ETFs can help get you exposure to an area that promises to flourish, writes Phil Thornton Barely a day goes by without a new portent of doom and gloom for some part of the UK economy, whether for financials, retailers or housebuilding. But one sector may offer a glimmer of hope during a [...]
How the big channels are defying the odds to prosper July 25, 2008 Anyone who wants to understand something fundamental about the media just has to hold a single number in their head – 38,000. It’s a decent size for most football crowds or those willing to watch a Wagner opera the whole way through. But it doesn’t exactly pass muster as the ratings for a top US [...]
Fake Facebook entry banned July 25, 2008 A business whose personal details were falsely entered on Facebook, the social networking website, has won substantial libel damages at the High Court. Mathew Firsht won £22,000 in damages against an old school friend, Grant Raphael, who created the false entries. The judge ruled that Raphael’s defence – that the entry was created by people [...]
Imperial fired up for growth July 25, 2008 Imperial Tobacco, the world’s fourth-biggest cigarette company, yesterday said group performance had been in line with forecasts and that it was on course for another good year. The British maker of Lambert & Butler cigarettes said the integration of Altadis, the Franco-Spanish rival it acquired for €12.6bn (£9.92bn) in January, was going well. “Our operating [...]
MPC vote split three ways July 24, 2008 A surprise three-way split between Bank of England rate setters left economists guessing whether an interest rate rise was on the cards. The minutes of July’s Monetary Policy Committee rate contained the word inflation 54 times, which is higher than the average, according to Lehman Brothers, highlighting the MPC’s concerns about cost rises. Seven members [...]
Raikkonen considering quitting sport when Ferrari deal runs out next year July 24, 2008 World champion Kimi Raikkonen has sensationally admitted he could walk away from the sport next year. The paddock has been rife with speculation that the Ferrari driver is on the verge of retiring from the sport at the age of 28. Raikkonen insists he has no intention of breaking his £20m-a-year contract with the Italian [...]
Sweet start to the year by Tate & Lyle July 24, 2008 Sugar refiner and sweetener maker Tate & Lyle said yesterday it has made a satisfactory start to its financial year and was on track to achieve progress for the year as a whole. The company, which makes sucralose sweetener Splenda, said in a trading update ahead of its annual shareholder meeting that pre-tax profit in [...]
