What the other papers say this morning – 07 May 2014 May 6, 2014 FINANCIAL TIMES Italy bond yields fall to record low Italy’s benchmark government borrowing costs fell to a record low yesterday as investors betting on bond-buying by the European Central Bank snapped up Eurozone debt. For the first time since the euro was introduced the yield on Italy’s 10 year bonds dropped below three per cent, [...]
Barclays profits tumble on eve of big shake-up May 6, 2014 PLUNGING investment banking revenues dragged down Barclays’ profits in the first quarter of the year, the bank said yesterday. The bank is due to announce a range of reforms tomorrow, which is likely to include the creation of a bad bank to run down underperforming units. Barclays is also expected to cut back on investment banking [...]
Twitter shares in free fall as six month stock lockup period ends May 6, 2014 TWITTER’S shares plummeted 17.81 per cent yesterday as the six-month lockup period that had restricted the sale of around 82 per cent of its stock expired. Shares closed at $31.85 down from a high of $73.31 in December and near Twitter’s $26 listing price. While Twitter sold only 70m shares during its initial public offering, [...]
Carphone Warehouse and Dixons to announce merger May 6, 2014 DIXONS Retail, the owner of Currys and PC World, and Carphone Warehouse are poised to announce the final terms of their proposed £3.7bn merger next week in a deal that will create one of the biggest high street technology giants. The companies are understood be planning to unveil details of their tie-up alongside Dixons’ trading [...]
Heathrow set to name CEO May 6, 2014 JOHN Holland-Kaye is set to be appointed as the new chief executive of Heathrow, according to Sky News city editor Mark Kleinman. Heathrow Airport Holdings is to announce the new appointment as soon as this week, after Colin Matthews stepped down in April following six years at the top. Holland-Kaye is currently the airport's development [...]
Lord Patten stands down as BBC chairman May 6, 2014 CHAIRMAN of the BBC Trust Lord Patten has stepped down with immediate effect, after undergoing major heart surgery. “It would not be fair to my family to continue as before and equally it would not be fair to the BBC,” Patten said yesterday. Vice-chairman Diane Coyle will act as interim chair until a successor is [...]
Aberdeen hit by weak emerging market flows May 6, 2014 ABERDEEN Asset Management, Europe’s largest independent fund house, yesterday reported a dip in revenues and profits as investors shunned its flagship emerging market products. The group, listed on the FTSE 100, said revenues fell two per cent and underlying pre-tax profits three per cent for the six months ending March after investors pulled about £8.8bn [...]
EU warnings of war in Ukraine May 6, 2014 THE PRESIDENTS of both Germany and France warned that Ukraine is on the brink of war yesterday, as tensions rose again in the country. Both the interim government in Ukraine and rebel pro-Russian fighters have suffered casualties in recent days, as fighting continues in the east of the country ahead of a referendum on Russian rule [...]
Baker voted to key committee May 6, 2014 CONSERVATIVE MP Steve Baker has been elected to join the Treasury select committee. Baker, who joined parliament in 2010 and represents the seat of Wycombe, enjoyed a career as an engineer in the Royal Air Force before becoming an MP. He set up the All-Party Parliamentary Group on economics, money and banking and previously served [...]
UBS profits rise thanks to new slimmer setup May 6, 2014 SWISS bank UBS reported higher profits for the first quarter yesterday, as cost cutting and a new focus on wealth management paid off. Profits came in at SFr1.05bn (£707m) in the three-month period, up 6.9 per cent on with the same period of 2013. However, revenues disappointed, with operating income down 6.6 per cent to SFr7.26bn. [...]
