Murray: Nadal can be new world No1 July 28, 2008 Andy Murray is backing Rafael Nadal to take over as the new world number one after the Spaniard ruthlessly took his unbeaten run to 29 matches with victory in the Toronto Masters last night. Wimbledon champion Nadal held off a gallant semi-final effort from the Scot before then going on to complete a impressive 6-3, [...]
Unilever in hunt to find new leader July 28, 2008 Unilever, the Anglo-Dutch consumer goods giant, has recruited a global headhunting firm to search for a successor to chief executive Patrick Cescau. Headhunters Egon Zehnder – which Unilever has used before – have been engaged to seek a replacement from both inside and outside the company. Unilever declined to comment. Cescau, who turns 60 next [...]
Two latest collapsed US banks avoid IndyMac-style panic run July 28, 2008 Customers of two banks closed by federal regulators in the US on Friday were assured over the weekend that every penny of their money was protected, preventing lines of angry accountholders from forming. The calm response was a stark contrast to the hundreds of angry customers who waited for hours earlier this month in Southern [...]
Citi’s Klein walks away with £21.4m July 28, 2008 Michael Klein, the chairman of Citigroup’s institutional clients group, will walk away with a non-competition pay-out of £21.4m ($42.6m) when he leaves the New-York based bank later this year. The staggered scheme will see Klein receive £2.8m on 1 August, followed by £10.7m in March 2009 and £3.8m in October 2009, providing he does not [...]
Credit crisis worsens July 28, 2008 Credit quality “declined rapidly” throughout Western Europe in the second quarter of this year as the credit crunch exacerbated inflation and slowing growth, according to a report published by ratings agency Moody’s today. The agency, which downgraded 41 debt issuers in the quarter, believes conditions are worsening thanks to rising inflation and slowing economic growth, [...]
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 [...]
