EU scales back rules on carbon flight emissions September 5, 2013 THE EU agreed to a deal late yesterday to scale back its law regulating carbon from flights as UN negotiators pledged to craft a global pact on aviation emissions that would not take effect for seven years. EU officials agreed at UN talks in Montreal to only include emissions from flights over European airspace in [...]
Eurogroup head outlines third bailout for Greek government September 5, 2013 EUROGROUP president Jeroen Dijsselbloem admitted yesterday that Greece’s financial troubles will not end in 2014, and that another bailout is realistic. The head of the euro area’s finance ministers spoke to the European Parliament: “It is realistic to assume that additional support will be needed beyond the programme. In this context, the Eurogroup has indicated [...]
Bank of Japan governor hints at more easing September 5, 2013 THE RADICAL monetary policies of the Bank of Japan may be pushed even further if Prime Minister Shinzo Abe’s tax hike impacts demand. The Bank of Japan confirmed yesterday that it would hold interest rates at their current low of 0.1 per cent, with the governor of the Bank insisting that he was open to [...]
Kennedy Wilson and Varde buy UK shopping centres for £250m September 5, 2013 US PROPERTY investment and services firm Kennedy Wilson and debt specialist Varde Partners yesterday agreed to buy a portfolio of eight UK shopping centres out of administration for $388m (£250m). Kennedy Wilson did not disclose which shopping malls they had acquired but said they were spread across England and Scotland and spanned a total of [...]
Fiat’s fight over Chrysler stake may not go to trial until 2015 September 5, 2013 FIAT may have to wait until 2015 before a judge will decide the price the Italian automaker would have to pay to buy out a minority shareholder of its Chrysler business, according to court filings. Delaware judge Donald Parsons should allow a “reasonable time” to prepare for a trial to decide what Fiat must pay [...]
French grape growers gripe at new iPhone September 5, 2013 INTERNET giant Google may have called the next version of its mobile operating system Android KitKat, but grape-growers in France don’t seem too keen for Apple to name the new iPhone model after Champagne, as it has apparently planned. A spokesperson for the governing body of the bubbly, Comite Interprofessionel du Vin de Champagne (CIVC), [...]
Royally minted: Prince George inspires UK’s first ever £20 coin September 5, 2013 GET YOUR orders in for Prince George memorabilia. The Royal Mint announced the creation of the first-ever £20 coin yesterday, and the new silver piece of bling is a limited edition featuring the “St George and the Dragon.” The same design was used earlier this year on a £5 coin to mark Prince George’s birth. [...]
Inside Track: Foxtons nears a crucial decision on its upcoming float September 5, 2013 THE FORTHCOMING flotation of Foxtons, the ultra entrepreneurial London-focused estate agency, is to move a step closer this weekend with the setting of a price range for the new shares that will shortly be coming onto the stock market if all goes well. Management’s investor roadshow begins properly on Monday and will take in London, [...]
David Lloyd sold to private equity fund September 5, 2013 HEALTH and fitness club David Lloyd Leisure (DLL) yesterday outlined an ambitious £50m expansion plan after being sold to UK private equity firm TDR Capital for just under £750m. The business, founded by former tennis ace David Lloyd over 30 years ago, said it has over 20 new centres in the pipeline across the country [...]
Russian firm teams up on UK nuclear September 5, 2013 RUSSIA’S state nuclear energy operator Rosatom yesterday said it has teamed up with Finish utility firm Fortum and British aerospace company Rolls-Royce to assess if it could construct nuclear power plants in the UK. Under the agreement, Rolls-Royce will undertake engineering and safety assessment work for Rosatom and Fortum will bring safety and waste management [...]
