Rio’s deal with BHP on iron ore hits a hurdle October 5, 2010 MINING group Rio Tinto has made no decision on its planned $116bn (£72.9bn) Australian joint venture with BHP Billiton, it said yesterday after claims that the deal could be terminated. “The Rio Tinto board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore [...]
Hicks and Gillett set to block fresh offers to buy Liverpool October 5, 2010 UNPOPULAR owners Tom Hicks and George Gillett faced the wrath of Liverpool supporters again last night after it was revealed they are to set to oppose two fresh bids to buy the club. The Liverpool board met yesterday to discuss proposals from two consortiums – one believed to be from Asia and the other from [...]
Tesco talks up economy as profit lifts October 5, 2010 TESCO said yesterday that the UK was unlikely to slide back into recession as it reported a 12.5 per cent increase in first half profit to £1.6bn. The world’s third largest retailer said it had been boosted by the strength of Asian markets, offsetting “modest” UK sales growth in the 26 weeks to 8 August. [...]
Tesco October 5, 2010 SIR Terry Leahy effectively signs off with yet another set of results which shows Tesco is negotiating choppy economic waters in a calm and assured way. While UK sales growth of three per cent is far from stellar, growing Asian markets have helped to keep the ship moving forward. Analysts point to the surprise forecast [...]
Russian grocer O’key planning a £315m London share offer October 5, 2010 RUSSIA’S third biggest food retailer O’key plans to raise up to $500m (£315m) in a London share offer to fund expansion, making it the latest Russian firm to revive IPO plans. O’key, which operates a 52-store chain, will launch a global offering of global depositary receipts (GDRs), with each GDR representing one share, by the [...]
‘England’s greatest Tests lie ahead’ October 5, 2010 ENGLAND captain Andrew Strauss believes the current side has the potential to be even better than the iconic Ashes winners of 2005. Strauss, who scored two centuries in that landmark series, will lead the class of 2010 in Australia this winter as they look to retain the urn. And he says that it is how [...]
IDS offers lifeline to business start-ups October 5, 2010 IAIN Duncan Smith yesterday outlined plans to give grants to unemployed people who want to set up their own businesses, in a bid to boost the number of first-time entrepreneurs. The welfare secretary said the New Enterprise Allowance (NEA) scheme would offer financial support and business mentoring to enterprising people who are unemployed. He said: [...]
Head teachers gain power to discipline outside school October 5, 2010 HEAD TEACHERS are to be given sweeping new powers to discipline pupils who misbehave outside of school gates, as part of new plans to crack down on anti-social behaviour. Currently, heads have no authority over pupils when they are off of school premises, making it difficult to punish them when they misbehave in the local [...]
City bonuses facing round two of taxes October 5, 2010 DOWNING STREET has confirmed the government is considering a second bank levy on pay and profits, after new figures estimated the bonus payout for the City would be around £7bn this year. Any new levy will take the form of a Financial Activities Tax (FAT), which would be imposed on remuneration and profits. David Cameron [...]
CITY VIEWS: ARE THE CUTS TO CHILD BENEFIT FAIR? October 5, 2010 SHAREENA RASHID | AVIVA INVESTORS “I don’t disagree with the changes, but I think the flaw in the plan is the limit on individuals rather than households. It’s sending out half a message to families who want to return to work, and works against single parents too.” KAMRAN MIRZA | INTERPRO EUROPE “I disagree with [...]
