Santander to close 56 branches March 26, 2012 Spain’s Santander is closing 56 branches in Britain to remove overlap in its network after it bolted together three separate businesses, which left it with two branches side by side in some places. Santander’s purchase of Alliance & Leicester and Bradford & Bingley during the 2008 financial crisis came four years after it bought Abbey [...]
Crisis turning into real threat for PM March 26, 2012 IT still seems likely that the coalition will last for a while yet. But the pressure is mounting again, with the resignation of financier Peter Cruddas as Tory party Treasurer and fresh allegations about party funding dealing another blow to David Cameron. Many in the City have become too complacent about the longevity of this [...]
EasyJet losses narrow March 26, 2012 EasyJet said it expected its first-half loss to be narrower than previously thought as cost control measures and better marketing help the British budget airline offset continuing weakness in the sector. “In a difficult environment for all airlines, improvements in revenue management combined with marketing and website initiatives have enabled EasyJet to take advantage as [...]
Aberdeen sees client cash bounce back March 26, 2012 Aberdeen Asset Management’s clients added £1.48bn of new money to its range of funds in first two months of the year, as investors recovered their appetite for risk and returned to buying equity products. In a trading update on Monday, Aberdeen said its assets under management rose to £184.4bn pounds at end-February, up from £173.9bn [...]
Shells scrambles to pay off $1bn Iran oil debt March 26, 2012 Royal Dutch Shell is struggling to pay off $1bn that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said. Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, [...]
Cash for access row hits Tories March 25, 2012 TALKS over the future of party funding are being fast-tracked to the top of the political agenda after the Tory treasurer was caught offering access to the Prime Minister in exchange for large donations. Peter Cruddas was forced to step down yesterday after appearing to promise potential donors the chance to influence government policy. Donors [...]
Boris: I will veto third runway March 25, 2012 LONDON mayor Boris Johnson has insisted he will not support a third runway at Heathrow, despite renewed interest in the plan from other senior Tories. The mayor said the runway would cause “intolerable traffic and fumes in the west of the city – and it will not be built as long as I am mayor [...]
Birds Eye is on block for €3bn March 25, 2012 THE company that owns fish finger maker Birds Eye is being put on the block for a possible €2.9bn (£2.42bn) by Permira, its private equity firm owner. It is understood that Permira has received a number of approaches for Iglo and has appointed Credit Suisse to handle the process. Private equity firms such as Blackstone [...]
Crisis turning into real threat for PM March 25, 2012 IT still seems likely that the coalition will last for a while yet. But the pressure is mounting again, with the resignation of financier Peter Cruddas as Tory party Treasurer and fresh allegations about party funding dealing another blow to David Cameron. Many in the City have become too complacent about the longevity of this [...]
Walsh eyes US airline deal March 25, 2012 THE COMPANY behind British Airways is close to appointing an adviser in an attempt to protect its north Atlantic joint venture with American Airlines. The debt-laden US carrier filed for bankruptcy in November last year and could soon become subject to takeover approaches by US Airways and Delta. Willie Walsh, IAG’s group chief executive, is [...]
