Dwain court case delayed July 15, 2008 Great Britain’s squad for the Beijing Olympics was announced yesterday, but the sprinting line-up will not be named until Thursday, when Dwain Chambers’ case against a lifetime ban is heard in the High Court. Simeon Williamson was the only male 100m runner included in the draft squad, but Chambers and one other will join him [...]
Develop your tactics to win in hard times July 15, 2008 When the going gets tough, the tough stick to their trading strategies, says Katie Hope Everybody harbours a secret desire to be an investment legend. The so-called “Sage of Omaha” Warren Buffett, George Soros, whom it is obligatory to refer to as “the man who broke the Bank of England” and even fictional red-braced trader [...]
PM accused of U-turn on knife crime July 15, 2008 Prime Minister Gordon Brown said yesterday people carrying knives would be “caught, prosecuted and punished” as he defended the government’s handling of knife crime following a spate of stabbing deaths. But his message was overshadowed over claims from opposition parties that the government had already backtracked from a “half-baked” policy to force those caught with [...]
St Modwen falls into red July 15, 2008 Commercial and residential property company St Modwen saw the value of its portfolio plunge £65.5m and said the industry was facing its toughest test since 1990. St Modwen lurched into the red, posting a loss of £20m compared to a profit of £65.1m the year before. “We are reporting on what has been the most [...]
Political hurdle for Kazakh deal July 15, 2008 Analysts yesterday warned the political risks were “too great” for a possible merger between Kazakh miner Kazakhmys and fellow Russian miner Metalloinvest, the company founded by billionaire businessman Alisher Usmanov. Shares in Kazakhmys rose more than 6 per cent after news that Metalloinvest, which mines 40 per cent of Russia’s iron ore, was exploring a [...]
Rescue plan falls flat July 15, 2008 American mortgage giant Freddie Mac passed its first test of investor confidence yesterday as buyers flocked to its $3bn (£1.5bn) sale of securities just hours after the US government announced sweeping measures to prop-up the country’s largest mortgage finance companies. However, shares in Freddie Mac and its sister company Fannie Mae, which together own or [...]
Santander secures British expansion July 15, 2008 Standard Life, one of Alliance & Leicester’s largest shareholders believes the bank is being sold to Abbey National owner Santander at a “giveaway” price. Santander’s offer represents a 36 per cent premium to A&L’s share price on Friday, but it’s still well below the stock’s 1200p peak a year ago. Despite assurances from A&L chief [...]
Inflation surge bites July 15, 2008 Bank of England rate setters face another tough decision as fresh evidence emerges that soaring inflation and sluggish high street sales continues to put pressure on consumer’s pockets and the wider economy. Prices charged by manufacturers at the factory fate rose by 10 per cent in June – the highest rate since comparable records began, [...]
Alliance & Leicester snapped up as bid fever returns to the City July 15, 2008 A frenzy of merger and acquisition activity, spearheaded by Spanish bank Santander agreeing to buy Alliance & Leicester for £1.3bn, returned to the markets yesterday causing stocks to rally. The oil and gas sector was the centre of much of the bid action, with Imperial Energy, the developer of Russian oil reserves, soaring 18 per [...]
Fire sale likely at Dawnay Day as £2bn empire teeters July 14, 2008 Dawnay Day, the privately owned financial services and property giant, faces the fire sale of many of its assets to plug a cash flow crisis. The £2bn empire, run by Guy Naggar and Peter Klimt, has called in Ernst & Young to restructure several companies within the group following a massive loss incurred last week [...]
