Sectarian warring in Iraq sparks fears, but oil prices stay stable June 30, 2014 Fierce fighting raged yesterday in the Iraqi city of Tikrit, as the country’s military struggled to dislodge an al Qaeda splinter group, after its leader was declared caliph of a new Islamic state in lands seized across a swathe of Iraq and Syria. Alarming regional and world powers – and briefly causing a spike in [...]
What the other papers say this morning – 01 July 2014 June 30, 2014 FINANCIAL TIMES EU slams US over Microsoft privacy A US attempt to force Microsoft to hand over emails held on servers in Ireland has drawn a strong rebuke from Brussels in one of the first tests of cross-border privacy raised by cloud computing. The US demand could contravene international law and should have been handled [...]
Fever-Tree seeking to put fizz into market June 30, 2014 Premium mixer-maker Fever-Tree could be floated on the stock market. According to Sky News, LDC, the buyout division of Lloyds Bank, is about to call in Investec to oversee a review of its investment in Fever-Tree. It was set up in 2005 by Charles Rolls and Tim Warrillow with the aim of targeting consumers’ willingness [...]
Bulgarian banks get emergency EU support June 30, 2014 THE EUROPEAN Commission signed off an emergency line of credit to Bulgaria’s fragile banking system, following runs on two banks and arrests this weekend. The emergency funding, worth up to £1.34bn, has been provided to allow the government to respond to “speculative attacks”, after suggestions that customers were urged to withdraw deposits.
Premier League chairman steps down June 30, 2014 ANTHONY Fry has been forced to step down as chairman of the English Premier League after a year in the role due to illness. The 59 year-old, who has spent his career in finance working for banks including Rothschild, said yesterday that he needed to scale back his business activities after suffering a stroke in [...]
GlaxoSmithKline share price drops after sex tape revealed June 30, 2014 Shares in Britain’s biggest drugmaker GlaxoSmithKline fell yesterday after it confirmed the existence of a sex video recording of its former China head, Mark Reilly. The tape sparked a bribery investigation that has damaged the drugmaker’s business in China. A GSK spokesman confirmed the tape existed but did not comment on how it related to [...]
Philips to merge automotive and LED lighting into one unit June 30, 2014 DUTCH electronics giant Philips said yesterday it would start the process of merging its Lumileds or LED components and automotive lighting businesses into a stand-alone subsidiary within the group. The Amsterdam-based company plans to remain a shareholder of the new company, and would continue the existing innovation collaboration. It would also explore alternatives to attract [...]
Institute of Directors’ summer party an alternative to Cool Britannia June 30, 2014 It was a remarkably wintery night at for the Institute of Directors’ summer party on the Parliament Terrace Pavilion yesterday evening but it certainly did not stop play. Attendees may not have been at David Cameron’s Cool Britannia party, but the aforementioned event didn’t go without a nod. “David Cameron is busy hosting a party [...]
Amlin’s Formula-E race car partnership puts pedal to the metal June 30, 2014 Lloyd’s-based reinsurance company Amlin gave lunching City-ites something to gawk at yesterday with the unveiling of its new sponsorship target, a Formula-E race car and British race-driver Katherine Legge. What the bejeezus is Formula-E? It’s like your bog standard Formula One except the cars are electric rather than gas guzzling. They also race internationally, [...]
BAE Systems merger in Saudi June 30, 2014 BAE Systems yesterday announced a reshuffle of its industrial companies in the Kingdom of Saudi Arabia, including a stronger relationship with Riyadh Wings Aviation Academy. The reorganisation will bring together shareholdings of the two companies, with Riyadh Wings acquiring a 49 per cent stake in the holding company while BAE Systems will continue to hold [...]
