Banks in rate swap dispute with SMEs March 11, 2012 BRITAIN’S top banks face claims of mis-selling from hundreds of small businesses that bought complex interest rate derivatives before the start of the financial crisis. Barclays and HSBC, as well as taxpayer-backed Lloyds and Royal Bank of Scotland, all face allegations that they pushed small- and medium-sized enterprises (SMEs) to take out interest rate swap [...]
Liberal Democrat rebels deal Clegg a blow over controversial NHS reforms March 11, 2012 NICK CLEGG failed to convince his party to give their full backing to the coalition’s controversial NHS reforms, with a vote at the Liberal Democrat spring conference in Gateshead yesterday stopping short of whole-hearted support. Lib Dem rebels managed to alter the party’s vote on the Health and Social Care Bill, removing a line that [...]
Pru considers Brazil in plans for expansion March 11, 2012 PRUDENTIAL could be planning to branch out to Brazil as the British insurance firm, which has a strong presence in Asia and the US, taps into South America as part of its expansion plan. Prudential chief executive Tidjane Thiam is said to have approached the Brazilian government in a bid to loosen the local legislation [...]
Republicans close amid key primaries March 11, 2012 REPUBLICANS Newt Gingrich and Rick Santorum go into this week’s primary contests head-to-head, with Gingrich’s political survival riding on votes in Mississippi and Alabama tomorrow. Gingrich vowed yesterday to push ahead to the Republican convention in Tampa in August even if he loses in the south. But Gingrich’s struggling presidential bid could be at risk [...]
US soldier kills 16 Afghans March 11, 2012 A US soldier’s shooting of more than a dozen Afghan civilians deepened questions yesterday about what the United States and its allies can accomplish in Afghanistan before it withdraws, as Washington rushed to contain the damage from the attack. President Barack Obama spoke of his shock over the attack, in which a US soldier left [...]
Game appeals for saviour to avoid collapse March 11, 2012 STRUGGLING video games retailer Game has put itself up for sale as it scrambles to raise cash ahead of a looming quarterly rent bill and fend off administration. Game, which hired Rothschild last month to advise on a strategic review of the business, has instructed the bank to find a potential buyer for all of [...]
Premiership rights may spark bid war March 11, 2012 PREMIER league football clubs could rake in three times as much if “a real bidding war between broadcasting giants” breaks out when the sale of the broadcast rights to the football premiership kicks off next month. Having already entered the French market, Al Jazeera has been touted as a serious challenger to the supremacy of [...]
Chinese mining group picks London over Hong Kong for its £50m listing March 11, 2012 A CHINESE mining company is planning to raise $50m (£32m) by floating on London’s alternative investment market (Aim), having chosen the UK over listings in Hong Kong and Canada. Rare Earths Global announced this morning that it expects to start trading later this month, and said a $50m fundraising would give it a market capitalisation [...]
Hague faces suit on drone strikes March 11, 2012 Lawyers for the family of a man killed in a US drone attack in Pakistan said they would begin legal action against foreign secretary William Hague today, accusing him of complicity in strikes they say broke international laws. London law firm Leigh Day & Co said it had “credible, unchallenged” evidence that Hague oversaw a [...]
UN presses for Syrian ceasefire March 11, 2012 UN-Arab League envoy Kofi Annan said yesterday it would be hard to reach a deal to halt bloodshed in Syria, but expressed optimism after meeting President Bashar al-Assad for a second day. “I am optimistic for several reasons,” Annan said. “The situation is so bad and so dangerous that all of us cannot afford to [...]
