Deutsche Bank opens gold vault June 9, 2014 Deutsche Bank said yesterday it begun operating a 1,500 tonne-capacity metals vault in London, joining a series of other institutions that offer to store gold in the global centre of the over-the-counter bullion market. The bank, a member of the London Bullion Market Association, has built the new vault in partnership with G4S.
Brown slams Cam’s Scot tactic June 9, 2014 David Cameron is jeopardising the union by painting the looming referendum as a fight between Scotland and England, former Prime Minister Gordon Brown said yesterday. With less than 100 days until Scotland goes to the polls, Labour MP Brown said Cameron’s government has “fallen into this trap” set by the nationalists.
Primark in talks to buy £60m Birmingham shopping centre June 9, 2014 DISCOUNT fashion retailer Primark is close to sealing a deal to a buy an entire shopping centre in Birmingham for around £60m. The company is in advanced talks to buy the 250,000 square feet Pavilions shopping centre from UBS’s Triton Property Fund, with a deal expected to be confirmed as soon as this week. It [...]
Pension Insurance Corporation inks bulk annuity deal for Total June 9, 2014 PENSION Insurance Corporation (PIC) yesterday agreed to insure £1.6bn of pension obligations for the UK arm of oil company Total – the second largest deal of its type ever completed in the UK. The deal, which covers two-thirds of Total’s £2.6bn pensioner liabilities, is the second largest bulk annuity deal to date after ICI Pension [...]
JP Morgan promotes India boss Rohit Chatterji June 9, 2014 JP Morgan has appointed a new head of mergers and acquisitions in emerging Asia, after the previous chief announced his departure from the role. Rohit Chatterji is moving to Singapore to take the job, according to an internal memo seen by City A.M. The role covers M&A activity across Asia, excluding deals that are done [...]
MG doubles its 2013 sales in five months to sprint to new record June 9, 2014 MG has roared ahead to double 2013’s sales in the first five months of the year. The Midlands-based car manufacturer announced its bestever first quarter and also best sales year so far, surpassing 2012 where 782 units were sold. The iconic marque, which celebrates its 90th year this year, has sold 1,008 vehicles in the [...]
Merck makes a £2.3bn play for hepatitis treatments at Idenix June 9, 2014 MERCK has made a $3.85bn (£2.3bn) swoop for hepatitis C specialist Idenix, paying more than three times the target’s market value to bolster its drugs portfolio. The New York-listed pharma giant said yesterday it will pay $24.50 a share for Nasdaq-listed Idenix, compared to Friday’s closing price of $7.23. Massachusetts-based Idenix’s three experimental hepatitis C [...]
PayPal boss David Marcus out as Amazon starts rival June 9, 2014 THE PRESIDENT of payments firm PayPal has quit to join Facebook, parent company EBay said last night. David Marcus has led PayPal since April 2012, having joined when the firm took over his payments start-up Zong. He will leave on 27 June to lead Facebook’s messaging products. His departure was announced on the same day [...]
Sony overtakes Nintendo in hardware sales June 9, 2014 SONY has overtaken Nintendo in the number of video games consoles sold last year for the first time since 2005. Nintendo sold 16.3m consoles during the year ending March, down 31 per cent year-on-year, while Sony – buoyed by the launch of its fast-selling PlayStation 4 – sold 18.7m consoles during the year, down 20 [...]
Credit card firm TCS falls further June 9, 2014 TCS Group, the Russian credit card provider, suffered more misery in trading yesterday falling more than five per cent after revealing a 63 per cent dive in pre-tax profits. The business, which listed in London last year, said first quarter profit before tax was 481.3m rubles, down from 1.3bn rubles in the same quarter last [...]
