O’Brien attacks INM August 28, 2008 Denis O’Brien, a major shareholder in Independent News & Media (INM), has called on the group to “urgently” review the operations of its flagship titles The Independent and Belfast Telegraph after first-half profits tumbled. While the group grew its underlying revenues by three per cent in the six months to 30 June, adjusted earnings per [...]
RBS rings the changes with new directors August 28, 2008 Royal Bank of Scotland announced the appointment of three non-executive directors yesterday, in a move that will intensify rumours that CEO Sir Fred Goodwin and chairman Sir Tom McKillop will soon depart the troubled bank. Stephen Hester, Arthur Ryan and John McFarlane will join the board from the beginning of October. Of the three, Hester, [...]
Paddy Power cuts forecasts August 28, 2008 Bookmaker Paddy Power yesterday slashed its annual earnings forecasts, prompting a slump in its stock market value as investors dumped shares in the Dublin-based company. Winnings in favour of customers backing Irish golfer Padraig Hamilton at both the British Open and the US PGA championship as well as in almost two thirds of matches played [...]
TNS rebuffs WPP despite GfK walk out August 28, 2008 Market research company Taylor Nelson Sofre said it would continue to fight WPP’s hostile bid even after its preferred bidder GfK walked away from a takeover deal yesterday because it could not raise enough cash. German GfK had been trying to raise financing with private equity groups and wealth investors to launch a rival takeover [...]
Taylor Wimpey profits hit by £1.5bn writedown August 28, 2008 Housebuilder Taylor Wimpey’s first half profits fell sharply after writing down a massive £1.5bn loss on the value of its property assets. The new homes specialist, which earlier in the year warned it would breach its banking covenant over the full year, said yesterday that it was still in talks with its bankers about revising [...]
Tullow profits triple August 28, 2008 Shares surged in Tullow Oil yesterday after the British-based oil explorer reported an almost 250 per cent rise in first half net profit, due to high global oil prices. The oil firm, led by chief executive Aidan Heavey, said its profit was £126m in the first six months of the year, compared to £37m in [...]
Darling under fire as City exodus looms August 27, 2008 Two more leading financial services firms warn that they may quit Britain over tax Brit Insurance CEO Dane Douetil, a leading figure in the Lloyd’s of London market, has reignited fears of a mass exodus of big business from British shores, by confirming that his firm is seriously considering leaving the UK for another tax [...]
Owen goal is a timely reminder to Capello August 27, 2008 Michael Owen gave England manager Fabio Capello a gentle reminder of his form as he fired an extra time winner for Newcastle in the Carling Cup last night. Capello is due to name his England squad for the World Cup qualifiers against Andorra and Croatia on Sunday night and Owen looks set to have earned [...]
Russian star Roman says: ‘I’m on my way to Spurs’ August 27, 2008 Pavlyuchenko heads to Tottenham as Berbatov’s United move looks back on Russian striker Roman Pavlyuchenko insisted he was on his way to Tottenham last night in a deal which would almost certainly bring an end to Dimitar Berbatov’s future at the club. Pavlyuchenko, a long-term target of Spurs boss Juande Ramos, told UEFA’s website he [...]
Wenger: ‘We will fight on’ August 27, 2008 Arsenal boss Arsene Wenger insists current squad can still challenge for honours this season despite an unconvincing start to the new campaign. Wenger’s men slumped to a shock 1-0 defeat at Fulham on Saturday, sparking further claims that he needs to sign a creative midfielder in order to compete both domestically and in Europe. The [...]
