Cappello awaits Russian call February 13, 2012 FOOTBALL: Mega-wealthy Russian club Anzhi Makhachkala have accepted the resignation of head coach Yuri Krasnozhan – paving the way for a possible approach for former England manager Fabio Capello. The 65-year-old Italian has also been strongly linked with Inter Milan, but hinted last week that his next managerial role was likely to be based outside [...]
Essex swoop for Petersen February 13, 2012 CRICKET: Essex have sealed the services of South Africa batsman Alviro Petersen for the first half of the new county season. The 31-year-old skippered Glamorgan last summer and will remain at Chelmsford until mid-June.
Cameron calls on insurers to cut premiums February 13, 2012 DAVID Cameron will today announce plans to reduce insurance premiums by cutting red tape, reducing legal bills and tackling the high number of spurious claims. Proposals include a plan to reduce the number of whiplash claims by enforcing a higher evidence threshold for injuries and cutting the £1,200 fee that lawyers can earn for small [...]
Apple’s shares pass $500 for the first time February 13, 2012 APPLE’S shares topped $500 for the first time ever yesterday, in a new milestone that underscores the technology giant’s place as the world’s most valuable company by market value at around $460bn. The company’s shares have surged by more than 20 per cent so far this year, after the success of its iPhones and iPads [...]
EMPIRE STATE OWNER FILES FOR IPO February 13, 2012 ORDINARY investors will soon have the chance to own a piece of an iconic US skyscraper, after Empire State Realty Trust, owners of the Empire State Building, yesterday filed to sell up to $1bn of its Class A common stock in an initial public offering. The proceeds will be used to pay existing stakeholders in [...]
Greek-German threat to new tensions pose bailout deal February 13, 2012 POLITICAL grumblings in Greece and Germany cast doubt over prospects of a successful bailout agreement yesterday, marring the relief from an austerity deal passed by Greece’s MPs on Sunday. Despite parliament’s endorsement, the main party leaders must sign a pledge that they will stand by the measures if victorious in upcoming elections – one of [...]
ECB keeps bond purchases low February 13, 2012 THE EUROPEAN Central Bank kept its controversial government bond purchases to an absolute minimum last week, spending less than €150m for the third week running and shrugging off anxieties surrounding Greece’s strained debt deal. The ECB has all but halted its purchases of troubled Eurozone debt over the last month and a half, following both [...]
Spain’s banks hit by downgrade February 13, 2012 FITCH and Standard & Poor’s both downgraded Spanish banks yesterday, following earlier downward revisions to the sovereign’s credit rating. Fitch took notches off four Spanish banks, including BBVA, while S&P downgraded 15 financial groups. And S&P went even further, by slashing the rating of Spain’s entire lending sector. The Banking Industry Country Risk Assessment (BIRCA) [...]
A DONE DEAL? THE NEXT STEPS FOR THE GREEK BAILOUT PLAN February 13, 2012 It’s all in the detail Greece’s government must persuade international lenders that it has detailed €325m of additional cuts, on top of existing measures – and that its political leaders pledge to carry out the austerity reforms. Private bond holders await A deal for private debt holders to take a 70 per cent haircut has [...]
Austerity vote gets through but ordinary citizens despair February 13, 2012 ATHENIANS spent yesterday inspecting the damage to their city after yet another night of social unrest left its mark on Greece’s capital. City authorities said 150 shops were looted and 93 buildings were wrecked or seriously damaged. Youth unemployment is running at 50 per cent and groups from the provinces have flocked to the capital [...]
