Cerberus in talks with Safeway February 19, 2014 Private equity firm Cerberus Capital Management is currently in talks with US supermarket chain Safeway about a possible transaction, a person familiar with the matter said yesterday. Cerberus was one of the buyout firms that approached Safeway last year about a possible deal, Reuters said. Safeway said earlier yesterday it was in talks about possibly [...]
Insurers should do more to help customers save February 19, 2014 THE CONSUMER body Which? has called on insurers to do more to help customers save money when they renew their policies. The group found that consumers would like more information on pricing when deciding which policy to buy, including details about the price they have been paying for the previous year’s insurance. Which? executive director, Richard [...]
Central bank official: There’s no Eurozone threat from deflation February 19, 2014 A SENIOR European Central Bank (ECB) official yesterday brushed off suggestions that the Eurozone could suffer a period of deflation, going as far as to suggest that low inflation and a relatively strong euro could self-correct this year. Austrian central bank chief Ewald Nowotny also said it was not in the ECB’s remit to perform US-style [...]
Five-year low for confidence of China firms February 19, 2014 CHINESE business confidence slumped to the lowest recorded level in half a decade this month, according to a major survey. MNI’s China business indicator stands at only 50.2 for February, indicating that only a very narrow majority of executives in the country’s listed firms are optimistic about the economic climate. Any figure below 50 would suggest [...]
Historic surplus for Greece as tourist spending hits a peak February 19, 2014 RECORD spending by tourists in Greece has prompted a stark turnaround in the Eurozone state’s current account balance, with data published yesterday revealing a first surplus since official data began in 1948. The balance – which measures the flow of goods, services and investments in and out of Greece – was in surplus by €1.24bn [...]
EU migrants forced to prove weekly income for benefits February 19, 2014 EU MIGRANTS will have to prove they are earning at least £149 per week for three months before they can claim state help, the work and pensions secretary has announced. Iain Duncan Smith said the change will come into force in March. The government is seeking to strengthen EU rules on freedom of movement, which [...]
Peugeot signs rescue package with Dongfeng February 19, 2014 FRENCH car group PSA Peugeot Citreon has sealed a €3bn (£2.5bn) rescue deal with Chinese group Dongfeng, which the firm hopes will steady its finances and open up expansion in Asian markets. Dongfeng and the French state will each pay €800m for 14 per cent of the carmaker to match the Peugeot family’s reduced holding. [...]
Mondi rises on higher outlook February 19, 2014 SOUTH African paper and packaging maker Mondi yesterday saw its share price rise on both the London and Johannesburg stock exchanges, after it raised its full-year profit forecast. The FTSE 100-quoted company said that underlying operating profit for 2013 is expected to be above the €574m (£473.6m) achieved in 2012, after its nine-month profit of €538m [...]
Essar gets FTSE rule exemption February 19, 2014 THE FTSE has agreed to let Essar Energy stay on its indices without the required 25 per cent free float, in order to protect minority investors while Essar Global Fund (EGF) decides whether to take the firm private. Without the exemption, Essar would have been kicked out of the FTSE on 4 March, as EGF [...]
Bluefield Solar buys ninth plant February 19, 2014 Bluefield Solar Income Fund, a recently floated investment firm that buys and manages solar energy assets in the UK, yesterday said that it has agreed to acquire its ninth large-scale solar plant for £21m. Bluefield has around £14m available to spend on investments, so is proposing a share placing to raise a further £13m, some [...]
