Fears mount for Bradford & Bingley as shares flop July 8, 2008 Bradford & Bingley’s stock plunged to an all-time low of 42p yesterday – well below its rights issue price of 55p – as concerns over the troubled lender’s future intensified. Fears also increased that the lender would issue another profit warning, due to the deepening crisis in the housing market, when it releases the prospectus [...]
SFO appeals Saudi case July 8, 2008 The Serious Fraud Office (SFO) yesterday told the House of Lords it did not act unlawfully when it ended its investigation into a £43bn Saudi arms deal. The case against the SFO is being brought by the pressure groups the Campaign Against Arms Trade and the Corner House who say the case should be reopened. [...]
King of the swingers July 7, 2008 A visit to a nature reserve that rescues orangutans feels like a privilege, writes David Jesudason Borneo is a country of immense beauty, where there are rainforests, mountain ranges and also massive biodiversity: more than 360 new species of animals were discovered in the last decade. Sadly, though, this incredible habitat is under threat, with [...]
Wade: We need to protect Robson July 7, 2008 British tennis legend Virginia Wade is calling for new sensation Laura Robson to be protected from the glare of the media spotlight following her Wimbledon success. Robson, 14, captured the hearts of the nation when winning the girls’ title on Saturday – the first home singles victory at Wimbledon since Annabel Croft 24 years ago. [...]
Knife murder parents plead with killers July 7, 2008 The parents of one of the two French students murdered in London a week ago in a frenzied knife attack appealed yesterday for the killer to come forward and said they would not rest until the guilty party was found. Bio-engineering students Laurent Bonomo and Gabriel Ferez, both 23, were bound, gagged and repeatedly stabbed [...]
Bradford & Bingley bankruptcy feared July 7, 2008 Fears that mortgage bank Bradford & Bingley is on the brink of bankruptcy have heightened following rating agency Moody’s decision to cut the cash strapped banks’ rating to Baa1, the lowest of any major British bank. “Our bankruptcy probability is increased to 25 per cent. UK property is 40 per cent over valued and B&B [...]
Persimmon in mass job cull July 7, 2008 Persimmon, Britain’s most profitable housebuilder, will announce tomorrow that it is cutting 20 per cent of its workforce, in the latest mass cull to hit the beleaguered sector. Persimmon is expected to say it is making at least 1,000 redundancies in a trading update on Tuesday, as it attempts to reduce costs and ride out [...]
London nears fresh fall into bear territory July 7, 2008 The City is bracing itself for possible entry into bear market territory this week, after the FTSE fell 41.7 points to 5434.9 by midday on Friday, and saw the psychologically-important 5,400 level broken in the final hour. With the words “negative”, “topsy-turvy”, and “recession” dominating reports on the market at the end of last week, [...]
Berkeley pays bosses £60m July 7, 2008 Multi-Millionaire property entrepreneur Tony Pidgley and three of his fellow directors at housebuilder Berkeley Group are getting a £60m pay-out, it has emerged. Pidgley and the three other members of the management team will net around 7 per cent of the company, which is valued at around £770m. The pay-outs come at a time when [...]
Stuart Rose faces huge protest vote July 7, 2008 Up to 30 per cent of Marks & Spencer shareholders angry at Rose’s power grab Marks & Spencer is bracing itself for up to a third of its investors to abstain or vote against Sir Stuart Rose’s controversial plans to hold both chairman and chief executive positions at the retailer’s annual general meeting on Wednesday. [...]
