OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS May 20, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 10 May to Wednesday 17 May. ArcelorMittal’s £19.6m Orbit sculpture, opened on 11 May, has [...]
City panel says Dimon at risk after $2bn loss while living wills are best regulatory response May 20, 2012 JAMIE Dimon is unlikely to hold on to his job as JP Morgan chief executive following revelations of a $2bn (£1.26bn) trading loss at the US investment banking giant, according to members of our readers’ panel. Excluding those who said they did not know, 53 per cent of panellists on our Voice of the City Panel [...]
Sky could win reprieve over pay TV probe May 20, 2012 THE COMPETITION Commission is to publish a preliminary report this week suggesting that BSkyB’s dominance in the pay-TV movie market has been weakened by new entrants, reducing the need to impose restrictions, it is understood. Following the entry of Amazon-owned LoveFilm and fellow US operator Netflix into the market – which both offer films online and [...]
Miliband pressured on EU vote May 20, 2012 LABOUR leader Ed Miliband is believed to be under pressure from party members to pledge that he will call an in-out referendum on EU membership should Labour win the next general election. Senior party figures apparently want Miliband to step up pressure on Prime Minister David Cameron well ahead of any election date by promising [...]
Darling: cuts have crashed the economy May 20, 2012 ALISTAIR Darling, the former Labour chancellor, yesterday accused the government of “crashing the economy” by cutting public spending while businesses and individuals were also spending less. He said: “There is no doubt that reducing public expenditure at a time when businesses and individuals stop spending does run the risk of crashing the economy, and that’s [...]
LIBYAN BOMBER DIES, SAYS BROTHER May 20, 2012 ABDEL Basset al-Megrahi, the Libyan convicted of the 1988 bombing of a PanAm flight over Lockerbie, died of cancer yesterday aged 60, according to his brother. Megrahi, the only person convicted for the bombing, was found guilty of secretly loading a suitcase bomb onto a plane at Malta’s Luqa Airport.
3 threatens to exit UK market May 20, 2012 3, the UK’s fourth largest mobile network provider, is continuing its crusade against its bigger rivals. Last month Canning Fok, managing director of Hutchison Whampoa, the Hong Kong-based conglomerate that owns 3, threatened David Cameron that the company could withdraw from the UK telecoms market unless 3 is guaranteed some airwaves in the upcoming auction [...]
Punch Taverns fires gun on debt swap talk May 20, 2012 PUNCH Taverns is said to have started talks with its lenders over a debt-for-equity swap that would give the pub group a much-needed lifeline. Britain’s biggest pub operator is bearing a £2.3bn debt mountain, amassed from a string of acquisitions over the past few years. Under the proposed plans, Punch Taverns’ lenders would forgive the [...]
Vodafone set for dividend hike tomorrow May 20, 2012 VODAFONE is set to report its full year results tomorrow and analysts are expecting a mixed bag. City consensus predicts a drop in operating profits to £11.4bn from £11.8bn last year, dragged down by troubled European markets. Revenues are set to rise slightly from £45.9bn to £46.2bn, with pre-tax profits climbing from £11bn to £12.8bn. [...]
Odey hedge fund buys stake in emergency pager firm Buddi May 20, 2012 HEDGE fund Odey Asset Management has bought a multi-million pound stake in emergency pager company Buddi, according to reports. The deal could see a senior member of Odey take up a place on the board of the privately run Buddi, which is headed by chairman Lord John Stevens and is bidding for a lucrative government [...]
