Deutsche Boerse and NYSE send EU case for merger December 13, 2011 NYSE Euronext and Deutsche Boerse have sent proposals to European competition authorities to address their concerns over a merger of the two exchange operators, they said in a statement. “The parties have strengthened their original proposal with respect to European single equity derivatives by increasing the assets to be included in the divestiture, and to [...]
Time Warner offers €1bn for Endemol December 12, 2011 Time Warner has offered 1 billion euros (£847m) in cash to buy television production company Endemol, maker of Big Brother, which is trying to restructure about 2 billion euros of debt, an Endemol spokesman said on Monday. The spokesman said Endemol believed it had a future as an independent company and was no more likely [...]
S&P heaps more pressure on Eurozone December 12, 2011 Ratings agency Standard & Poor’s put more pressure on the Eurozone, with its chief economist saying time was running out for the currency bloc to resolve its debt problems and that it might need another financial shock to get it moving. Jean-Michel Six, chief economist of the agency that shocked financial markets last week by [...]
Banks stocks fall as FSA calls for tighter regulation December 12, 2011 The FTSE 100 was pegged back by miners and banks in early trading as the Eurozone continued the struggle to dig itself out of the sovereign debt crisis Domestically the decision by the Government to shun a Eurozone agreement on closer fiscal ties was sinking in with cracks appearing in the coalition over the move. [...]
Pearson sells FTSE stake to LSE for £450m December 12, 2011 British publishing group Pearson is to sell its 50 per cent stake in the FTSE International group to the London Stock Exchange for £450m as part of its drive to focus on news and analysis and away from data. The LSE said it would fund the deal from existing resources and said it would enable [...]
RBS dragged down by poor management says FSA December 12, 2011 Royal Bank of Scotland gambled with its purchase of Dutch bank ABN Amro and was dragged to the brink of collapse three years ago by poor management decisions and flawed regulation and supervision, a report said on Monday. The long awaited report by Britain’s Financial Services Authority, running to 452 pages, criticised former Chancellor and [...]
Markets choppy as Europe rift widens December 9, 2011 The FTSE began to slip this morning as investors digested the impact of a new Eurozone agreement over fiscal integration which was shunned by Britain. Britain torpedoed the chances of a consensus as Prime Minister David Cameron refused to accept plans for a financial transactions tax that would clobber the City. Three French banks were [...]
Trade deficit narrows as exports hit record high December 9, 2011 Britain’s trade deficit narrowed at its fastest pace since records began in October, as the value of exports hit a record high, official data showed. The figures provide a glimmer of hope for Britain’s flagging economy, but are unlikely to alter expectations that the Bank of England will have to inject more stimulus to support [...]
UK shuns Eurozone agreement December 9, 2011 Europe divided in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated. Twenty-three of the 27 leaders agreed to pursue tighter integration with stricter budget rules for the single currency [...]
Toyota halves profit forecast December 9, 2011 Toyota has cut its profit forecast for this business year by more than half as it continues to suffer from a stronger yen and widespread output disruptions due to Thailand’s floods. Toyota is poised for a record year in production next year, as it rebuilds inventories and puts behind it the natural disasters in Japan [...]
