CMA painted into a corner October 9, 2013 CONSUMERS need a stronger voice, according to the government, and the Competition and Markets Authority (CMA) is being set up to fight their corner. But the new consumer champion’s own voice was lost yesterday as an unforeseen problem got in the way of chief exec Alex Chisholm’s big launch speech last night – redecorating. He was [...]
More horses than you can Sheikh a stick at October 9, 2013 WHAT does the man who owns one of the world’s most sought-after racehorses buy next? The horse’s sister, naturally. Sheikh Joaan Al Thani of Qatar has broken the record for the dearest horse bought at auction in Europe by spending £5,250,000 on an unnamed one-year-old filly at Newmarket. Both horses are the daughters of Galileo, [...]
Green light for £1bn Blackfriars scheme October 9, 2013 PLANS to build nine buildings on the South Bank of the Thames, including a 49-storey residential tower, have won approval from Southwark Council. US private equity giant Carlyle plans to replace IBM’s Sampson House and Ludgate House – media group UBM’s headquarters – with a £1bn-plus residential, office and retail development spanning 1.4m square feet. [...]
French strike to delay flights October 9, 2013 Flights to and from France face disruption today due to a strike by air traffic controllers that has prompted companies including EasyJet, Ryanair and Lufthansa to scale back their normal schedule. France’s DGAC civil aviation authority said it was urging airlines to cut services by 10 per cent, particularly on links between France and Spain, [...]
Hartford annuity outfit for sale October 9, 2013 Private equity firms JC Flowers and Apollo Global Management are among a handful of companies expected to bid for Hartford Financial Services Group’s Japanese annuity business. Second round bids for the business are due next week. Hartford has tapped Deutsche Bank to handle the sales process, sources said. In June, the company announced an agreement [...]
Blackstone in running for Versace October 9, 2013 US private equity firm Blackstone is among potential bidders for a minority stake in Italian fashion house Versace, sources told Reuters yesterday. Versace, which is selling a 15-20 per cent stake to fund growth, is yet to draw up a short list of potential buyers and is still considering expressions of interest, other sources said. [...]
Leveson refuses to discuss new press regulator October 9, 2013 LORD Justice Leveson yesterday insisted he would not get involved in the debate over how best to implement his recommendations on press regulations, as newspapers prepared for a last-minute push against state regulation of the British media. Making his first appearance in front of politicians since he published his report last year, the judge told [...]
British tobacco firms avoid tax by oversupplying EU countries October 9, 2013 BRITISH tobacco companies are avoiding millions of pounds in tax by massively oversupplying some EU countries with hand-rolling tobacco and then turning a blind eye when it is reimported, according to a report released today by MPs. The public accounts select committee said customs officials must do more to combat duty evasion, with the supply [...]
Passengers welcome limit on rail fare increases in January October 9, 2013 PASSENGER groups have welcomed the government’s plan to cap rail fare rises at two per cent above inflation, but some have called for prices to be controlled even more tightly. Transport secretary Patrick McLoughlin yesterday lowered the ceiling five per cent in real terms, which train companies could impose as long as its overall average [...]
Ex-Lib Dem leader Ming Campbell steps down October 9, 2013 SIR Menzies Campbell, 72, the former leader of the Liberal Democrats, yesterday announced he would stand down from parliament at the 2015 election to make way for a younger candidate. Campbell, known as “Ming”, was leader of the party from 2006 to 2007. In his youth he was a champion sprinter and competed at the [...]
