Standard Chartered June 17, 2010 STRATEGIC tie-ups rarely add up to much unless both players are willing to put money where their mouth is. That’s why Standard Chartered is almost certainly going to become a cornerstone investor in AgBank when it launches its likely record-breaking IPO. This is about much more than shaking hands. StanChart’s reasons are well-known. This year, [...]
Network Rail boss resigns June 17, 2010 IAIN COUCHER, the Network Rail chief executive, sent shockwaves through the rail industry yesterday after announcing his resignation. City A.M. understands that new transport secretary Philip Hammond and the Department for Transport (DfT) was unhappy with Network Rail’s performance. A report by Sir Roy McNulty, who is chairing a review of the previous government, found [...]
Stagecoach wins its subsidy dispute against government June 17, 2010 TRANSPORT group Stagecoach has said it expects its South Western Trains division to be profitable this year after it gained a partial victory in its subsidy dispute with the government. The dispute centred around the timing of government subsidies the group receives, but a rail arbitrator agreed with Stagecoach saying these should be for the [...]
FOCUS ON: CROUCH END, N8 June 17, 2010 PRIORY ROAD, N8 8LH Price: £785,000 This two-storey terraced house has the potential for a loft conversion, should you desire extra space. There are already four bedrooms and two reception rooms in this period property. The house is conveniently located for Alexandra Palace mainline station, which is approximately 23 minutes from Bank. There is also [...]
Tories call for driverless trains on the London Underground June 17, 2010 LONDON’S underground trains could run without drivers in the future if the government meets demands made by the Conservative Group of the London Assembly to replace the current “third rate” trains. The group argued in a report to the Mayor that driverless trains would offer safer and more efficient levels of service and would put [...]
Pat’s feeling all Rite after Ascot success June 17, 2010 DUAL-PURPOSE runner Rite of Passage was the toast of Royal Ascot on Ladies’ Day after springing a surprise in the Gold Cup. Sent off at 20-1 in the hands of Pat Smullen, the Dermot Weld-trained six-year-old outpaced Age of Aquarius in a thrilling sprint finish to win in a record time. It was his third [...]
Spain covers €3.5bn bonds at high price June 17, 2010 MARKETS breathed a sigh of relief after Spain’s €3.5bn (£2.9bn) debt auction was almost twice oversubscribed yesterday, although Madrid was forced to pay a steep premium. The heavily indebted country was forced to pay investors 4.9 per cent interest on €3bn of shorter-dated bonds, double the rate it paid in May, and 5.9 per cent [...]
European Union to publish stress tests on 25 key banks June 17, 2010 EUROPEAN Union countries will publish the results of stress tests on the region’s 25 most systemically important banks in July to improve investors’ confidence, EU President Herman Van Rompuy said yesterday. The bank-by-bank assessments will include forecasts for scenarios including a Eurozone sovereign debt crisis. Spanish Prime Minister José Luis Rodríguez Zapatero said: “These tests [...]
RENTING June 17, 2010 James Davis ceo of online lettings agent upad.co.uk Q.Dear James, my tenant has moved out but still owes me two months’ rent. I have no forwarding address for her and would like to at least get the deposit back. Without her there to sign the paperwork, how can I do that? A.Thankfully for you, the [...]
Europe and IMF say Greece is on track June 17, 2010 INTERNATIONAL officials gave Greece good marks yesterday for austerity measures demanded as part of a huge bailout, as unions called a 24-hour strike in protest at cuts that have pushed unemployment to a 10-year high. A team from the EU, IMF and European Central Bank said Greece was with reforms aimed at rescuing the debt-laden [...]
