Stagecoach to launch luxury sleeper buses July 8, 2012 TRAVEL company Stagecoach is eyeing a move into upmarket transport through its budget bus brand Megabus. It has commissioned a 52ft double-decker bus, designed to carry passengers on inter-city journeys. It is understood that the buses, which will operate under the firm’s Megabus brand, will have luxury leather seats by day, and give way to [...]
Serious Fraud Office reopening probe into Weavering Capital July 8, 2012 THE Serious Fraud Office (SFO) has reopened its criminal investigation into the collapse of Weavering Capital in 2009 – 10 months after dropping the original probe. New director David Green called for the U-turn after a high court judge found Weavering Capital’s founder Magnus Peterson liable for deceit and breach of his fiduciary duties in [...]
Praetorian Resources lists on Aim July 8, 2012 Natural resources investment company Praetorian Resources today lists on Aim with an initial market capitalisation of £24m. Established by Richard Lockwood and Malcolm Burne, the geographically unconstrained portfolio will invest in equities and debt securities in the precious and base metals, energy, industrial minerals, soft commodities, diamonds and other gemstones sectors. Of the initial market [...]
France eyes changes to auto sector July 8, 2012 France will not let its auto industry collapse and plans to unveil structural measures to help the struggling sector stay afloat, French finance minister Pierre Moscovici said yesterday, as the threat of closure looms over a major production centre. Moscovici said a plan to save the auto sector would be unveiled in the next month, [...]
Bombardier gets $1.02bn order July 8, 2012 Canada’s Bombardier Aerospace said yesterday a new customer, which has requested to remain unidentified, has placed a conditional order for five CS100 and 10 CS300 jetliners. Based on the list prices of the aircraft, the contract is valued at about US $1.02bn. Earlier it said it was in talks with AirAsia about a more densely [...]
Spain praised for pushing on with reforms July 8, 2012 SPAIN is on the right path to overcome recession and regain investor confidence, and its public accounts can handle the extra weight of European aid designated for banks, Germany’s finance minister said in an interview published yesterday. Wolfgang Shaeuble praised the Spanish government’s tough steps to stabilise public finances, and said the state can cope [...]
Pressure set to rise on franc as capital escapes single currency July 8, 2012 THE SWISS National Bank (SNB) must defend the cap it has set on the franc as the upward pressure on the safe-haven currency is only set to rise, the country’s economy minister said in an interview yesterday. The latest data show the SNB’s foreign exchange reserves jumped 19 per cent in June as a flood [...]
Euro banks seek official sector loans July 8, 2012 SPANISH and Greek banks have had to borrow hundreds of billions of euros from central banks to shore up their balance sheets as depositors have fled from the risky institutions, a top economist has warned. Banks borrowed an additional €81.1bn (£64.3bn) from the Eurosystem in June, an increase of 5.9 per cent. Over the same [...]
BAE in the lead for £7bn US Air Force jet deal July 8, 2012 BRITISH defence giant BAE Systems said yesterday that it is the frontrunner in the race to win a $11bn (£7.1bn) to provide trainer jets to the United States Air Force (USAF). “The USAF has a requirement to replace their aging training aircraft and we believe Hawk, as world’s most successful and affordable jet trainer, is [...]
Regulators dominate top list of Europe’s finance power players July 8, 2012 EUROPEAN Central Bank (ECB) president Mario Draghi has been ranked as the most important figure in European financial markets for a second year running, according to a list published today. The table of the 100 most influential people in European financial markets, released today by Financial News, comes as Eurozone leaders put plans in place [...]
