Barratt warns of tough times despite profit rise September 8, 2010 Housebuilder Barratt Developments said wider economic fears and the lack of mortgage finance meant the market for new housing was still challenging as it reported a jump in profits. House prices fell much faster than expected last month, according to a monthly survey from mortgage lender Nationwide, stoking concerns that the country could be headed [...]
Vodafone sells stake in China Mobile for £4.2bn September 8, 2010 Vodafone has made $6.5bn (£4.2bn) in cash following the sale of its 3.2 per cent stake in China’s biggest wireless operator, China Mobile. The buyers of the stake have not been identified. The 643m shares, listed on the Hong Kong stock exchange, were offered at a 3.4 per cent discount to the market price.
Exodus fears as banks reshuffle September 7, 2010 A SHAKE-UP at the helm of two of the UK’s largest banks is fuelling fears that the country could lose its top banking institutions overseas due to an over-zealous approach to regulation of the industry. Barclays yesterday shocked the markets by appointing Barclays Capital boss Bob Diamond to run the business. Current chief executive John [...]
Hurd sued by HP over Oracle job September 7, 2010 MARK HURD, the former chief executive of Hewlett-Packard (HP), is being sued by the computer company over his move to join rival Oracle. Hurd was appointed as co-president and director of Oracle, the world’s third-largest software maker, yesterday and just one month after he resigned from HP. HP has alleged that Hurd’s move to Oracle [...]
Tube strike causes chaos September 7, 2010 THE TUBE is expected to run a normal service today, according to Transport for London (TfL), after the strike by London Underground (LU) workers triggered intense disruption in London yesterday. However, more people than expected braved the strikes and came to work. By 5pm last night TfL said it was already operating one-third of its [...]
Diamond is the right man for the job September 7, 2010 GOOD on Barclays for promoting Bob Diamond, head of the bank’s investment banking unit, to be the firm’s overall chief executive. He is the best man for the job, proving himself again with the successful integration of Lehman’s US operations. Yet given Diamond’s demonisation in the broadcast media and popular press, not least by the [...]
CITY VIEWS: HOW WAS YOUR COMMUTE AFFECTED BY THE STRIKE? September 7, 2010 ZUBY UDEZUE | ACCENTURE “I was supposed to be working out in Hangar Lane today, but it’s on the central line so obviously that’s not happening. I’ve come into another office in Bank, using the northern line, which was packed.” ISAAC GASKIN | JEEVES “I live in Paddington, but today the trip took two hours, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 7, 2010 FINANCIAL TIMES EUROZONE FEARS SEND INVESTORS TO HAVENS Investor worries over the Eurozone have deepened, hitting the markets of the single currency’s weaker economies and sparking a flight to the safety of US Treasuries, German bunds, the yen and the Swiss franc. Global equities lost ground and the euro weakened on Tuesday, while European bank [...]
Ryanair boss mulls buying spree September 7, 2010 Ryanair boss Michael O’Leary has revealed he is considering buying up to 300 planes. The European budget airline boss says he is also writing to aviation authorities, asking for permission to have only one pilot per flight. The airline is preparing to pay its first dividend of €500m (£414m) next month – but a spending [...]
Capital increase for Greek bank September 7, 2010 Greece’s largest lender National Bank announced a €2.8bn (£2.3bn) capital increase yesterday to better deal with the economic crisis and position for further expansion in Turkey and Eastern Europe, the bank said.
