Britain’s manufacturers report boom in demands from Europe September 5, 2010 BRITAIN’S manufacturers are celebrating from a continual rise in export demand from overseas markets, according to new research. A quarterly survey conducted by accountants BDO and manufacturers organisation EEF, shows that over the past three months, output for British manufacturers in the third quarter of the year was up 33 per cent, while new order [...]
BA boss eyes fresh round of merger deals September 5, 2010 BRITISH AIRWAYS chief executive Willie Walsh has drawn up a hit list of a dozen companies he wants to buy after he has sealed his merger with Iberia and American Airlines in a bid to become the biggest airline group in the world. Walsh said: “The mergers with Iberia and American were never meant to [...]
EU’s Barnier expects agreement on host of new rules in few weeks September 5, 2010 THE European Union could agree in the next few weeks a law to regulate hedge funds and private equity operators, blamed by some for financial excesses, according to Michel Barnier, European Commissioner responsible for financial regulation. Barnier said last week’s deal over a set of pan-European watchdogs showed a political willingness for further post-crisis reforms. [...]
Vodafone and National Grid chairs to leave September 5, 2010 SEVERAL blue chip managers are awaiting calls from headhunters as two of the FTSE 100’s best-known chairmen prepare to step down. Vodafone has appointed City recruiter Anna Mann to seek out a replacement for Sir John Bond, who is expected to depart toward the end of next year. Bond, who has chaired the mobile phone [...]
Troubled Anglo Irish could be told to quit UK September 5, 2010 BAILED-OUT Anglo Irish Bank could be forced to quit the UK if it is allowed to go ahead with a rescue plan. Chief executive Mike Aynsley has proposed winding up 80 per cent of Anglo’s damaged loan book through Ireland’s “bad bank”, the National Asset Management Agency. He wants to save the remaining 20 per [...]
RETAIL BANK OF THE YEAR September 5, 2010 LIFE is still hard for banks, especially the high-street variety. One of our list is government-owned, others are engaged in a vicious fight to entice customers with tasty offers, and one is a brave and innovative newcomer. All are fascinating – and well-known – companies in this vital and fast-changing sector. Don’t miss the City event [...]
LAWYER OF THE YEAR | The Shortlist September 5, 2010 OUR list of lawyers reflects the breadth of legal work in the City, from the head of a firm that has recently merged, to one who advised the government on the banking bailout, the chief of the financial regulator and a pace-setting female head of a flourishing boutique firm. Hard to compare? Yes, but they show [...]
Petrobas eyes top share sale September 5, 2010 PETROBRAS, the Brazilian state oil company, has filed one of the largest rights issues to date as the firm plans to sell up to $64.5bn (£41.7bn) of new stock. The global stock offer could be expanded to as much as $74.7bn if underwriters exercise a “greenshoe” option to sell an additional 564m shares to meet [...]
BP to launch $20bn sale of stake in Prudhoe Bay oil field September 5, 2010 BP has put its $20bn (£12.9bn) stake in Alaska’s Prudhoe Bay oil field up for sale as part of the oil major’s move to cover the rising costs of the Gulf of Mexico spill. The sale falls in line with plans announced by BP to auction off roughly $30bn in global assets to help pay [...]
Oracle in talks to hand former HP boss new role September 5, 2010 ORACLE has offered a job to Mark Hurd, the former chief executive of Hewlett-Packard who resigned amid a scandal involving inaccurate expense receipts related to a female contractor. It is understood that a final decision has not yet been made. Oracle was not immediately available for a comment. Hurd resigned early last month, after a [...]
