Three phone calls key to EMI dispute September 23, 2010 THE legal battle between Guy Hand’s private equity firm Terra Firma and Citigroup looks set to hinge on three phone calls Hands claims he received from David Wormsley, head of Citi’s investment banking division, it emerged yesterday. The case, which begins in New York on 18 October, centres on Hand’s acquisition of music label EMI [...]
Alexon reports improved trading despite flat first-half profits September 23, 2010 BRITISH fashion retailer Alexon posted a flat adjusted pretax profit for the first half as it was hurt by lower inventory levels, but said trading since the half year was encouraging. The company, whose brands include Ann Harvey, Eastex and Dash, said like-for-like sales rose 3.1 per cent for the first seven weeks of the [...]
Evolution set to chew over Panmure bid September 23, 2010 STOCKBROKER Panmure Gordon yesterday thumbed its nose at larger rival and potential bidder Evolution, insisting that it is firmly on track with its strategy as an independent firm. Evolution said that a “possible offer” for Panmure was one potential option being weighed up by the group’s board, led by chief executive Alex Snow, though it [...]
Germany’s largest steel firm quits Iran September 23, 2010 GERMANY’S biggest steelmaker ThyssenKrupp has joined a growing list of businesses which have withdrawn from Iran in response to ever-harsher sanctions against the Islamic Republic. ThyssenKrupp said it would freeze all new business immediately and terminate existing contracts as soon as possible. It is the latest in a series of German companies to cut ties [...]
Google wins key piracy case in Spain September 23, 2010 GOOGLE yesterday won a landmark ruling when a Spanish judge threw out a claim it should be responsible for pirated content on its YouTube service. Broadcaster Telecinco said it had suffered as a result of hit shows appearing on the video-sharing website before they are broadcast in Spain. But a judge said the anti-piracy measures [...]
Zuckerberg: No Facebook phone September 23, 2010 Facebook founder Mark Zuckerberg quashed rumours his firm is ready to release a phone to compete with Google and Apple. The 26-year-old said he is only interested in “deeply integrating” Facebook services into existing phones and said he would have fired the source of the leak. But he refused to completely rule out a Facebook [...]
Dell shows off new tablet PC September 23, 2010 BlackBerry maker RIM is understood to be ready to unveil an “iPad killer” tablet computer at its annual DevCon conference next week. The firm has been rumoured to have been working on a tablet device since the roaring success of Apple’s iPad. But few expected it could have the “BlackPad” ready in time for the [...]
Black hole in Miliband plan, say the Tories September 23, 2010 THE Tories have stepped up their attacks on the Labour leadership candidates, claiming bookies’ favourite David Miliband must find £55bn of cuts to pay for his campaign promises. Ed Miliband, who is also within touching distance of winning the leadership contest, will have to find £67bn of spending cuts to fulfil his pledges, the Tories [...]
Candidates jockey for shadow cabinet September 23, 2010 ED Miliband will offer his brother the job of shadow chancellor if he emerges victorious in tomorrow’s leadership election, according to campaign insiders. David Miliband was seen as a shoo-in for the leader’s job before younger sibling Ed threw his hat into the ring, and friends say he could quit politics if he misses out [...]
WORLD’S RICHEST RACK UP THE BILLIONS September 23, 2010 GOOD times are rolling back, steadily and surely, if the latest Forbes rich list is anything to go by. Amid all the doom and gloom last year, well over three quarters of the 400 billionaires on the list saw their wealth tank, with almost $40bn (£25bn) draining out of the coffers of the top ten. [...]
