European Parliament Election: Ukip tops poll ahead of crunch euro election May 21, 2014 THE FINAL poll before elections to the European Parliament has narrowed, but Ukip remains a percentage point ahead of the Labour party, in an extraordinary result for the eurosceptic party. The survey of more than 6,000 voters puts Ukip on 27 per cent, Labour on 26 per cent, the Conservatives at 22 per cent, the [...]
What the other papers say this morning – 22 May 2014 May 21, 2014 FINANCIAL TIMES Monte dei Paschi to give state €4bn Shareholders of Monte dei Paschi di Siena, Italy’s third-largest bank by assets, have given the go ahead to a €5bn (£4.05bn) capital raising in a step that effectively lifts the threat of nationalisation from the bank. In a turbulent meeting, Monte Paschi shareholders voted overwhelmingly to [...]
Astrazeneca bid deadlock amid investor rancour May 21, 2014 ASTRAZENECA and Pfizer shares rallied slightly yesterday as investors digested the impending failure of Pfizer’s £69bn takeover bid for the UK drug giant, amid distant hopes of a revival in talks later this year. Pfizer’s £55 a share “final” offer for the company – which Astrazeneca batted away on Monday – is set to lapse [...]
Russia gas deal with China could drive up energy costs in Europe May 21, 2014 THE CHINESE and Russian government signed a $400bn (£237.1bn) gas deal yesterday, which some analysts believe could drive up gas prices in Europe when it comes into force. The agreement means that Gazprom will pipe gas into China for 30 years, beginning in 2018. At its peak, it will supply 38bn cubic metres of natural [...]
Saga narrows stock market float price to lower end of the range May 21, 2014 OVER-50s holiday and insurance provider Saga yesterday narrowed the price it will sell shares in its forthcoming float at the lower end of the range following an offer to retail investors. Saga said it had narrowed the price range to 185p to 205p after closing the books on the offering to Saga customers. The original [...]
Spotify passes 10m user mark May 21, 2014 ONLINE music streaming firm Spotify now has over 10m users, according to an announcement yesterday. The group rose from having 6m users previously, and has now paid over $1bn (£591.9m) in royalties to artists. The firm also said Eminem and Rihanna (pictured) are the most streamed male and female artists over the lifetime of the [...]
Burberry’s new boss plans to unlock Japan May 21, 2014 BURBERRY’S new chief executive Christopher Bailey set out ambitious plans yesterday to grow its business in Japan as the luxury retailer reported an eight per cent jump in profits. Over the last five years, Burberry has been building its retail operations in Japan and buying stores as it prepares to take back control of third [...]
Fed board may push for further guidance on unwinding of QE May 21, 2014 A NUMBER of Federal Reserve rate-setters want a further form of forward guidance for the US quantitative easing (QE) policy, giving investors extra information on when the purchased assets might be unwound. Minutes released yesterday from the Fed’s latest policy meeting said some decision-makers thought it “would be useful to provide additional information” on how [...]
Ex-JP Morgan exec arrested May 21, 2014 JP MORGAN’S former China investment banking boss Fang Fang was arrested in March over corruption allegations, it was reported yesterday. Hong Kong’s anti-corruption agency is running a probe into allegations of corruption, the Wall Street Journal reported. The long-running investigation is centred on suspicions of the bank hiring clients’ family members to win contracts. JP [...]
BNP Paribas braced for US fine of up to $5bn over Iran sanctions May 21, 2014 FRENCH bank BNP Paribas could be hit by a fine of as much as $5bn (£3bn) for breaking US sanctions, it emerged yesterday. The lender is in negotiations with regulators including the New York Department of Financial Services (DFS) and has set aside $1.1bn to cover the bill – but has also warned the sum [...]
