LSE revenue up 14 per cent July 20, 2011 The London Stock Exchange, seen as a takeover target since the collapse of its bid for a Canadian rival, reported a 14 per cent rise in revenue for its financial first quarter driven by its smaller post-trade business. The UK exchange said revenue for the three months to the end of June rose to £190.2m. [...]
Eurostar sales rise fuelled by US passengers July 20, 2011 Sales and passenger numbers at Eurostar rose in the first half of the year, as more US travellers used the service. Revenue jumped four per cent in the six months to June to £421m. Passenger numbers were up by three per cent to 4.7m. The number of international passengers rose by 21 per cent, with [...]
Rupert Murdoch: This is the most humble day of my life July 19, 2011 Rupert Murdoch told a committee grilling him on phone hacking at News International said: “This is the most humble day of my life.” He and his son James were being quizzed by MPs on the scandal which has engulfed his News Corp empire and scuppered a bid for BSkyB. He said the News of the [...]
Banks lead FTSE fight back July 19, 2011 The FTSE 100 fought back on opening today with banks recovering some of the ground they lost yesterday after the Eurozone debt crisis and US economic uncertainty sapped confidence. Following a grim session the financial sector found its feet today, clawing back losses which were partly triggered by analysts criticising European bank stress tests. Barclays [...]
Greene King to buy Capital Pub Company for £70m July 19, 2011 Greene King is to buy a London pub chain, beating rival Fuller, Smith and Turner. The Capital Pub Company, which has 34 pubs, has accepted the £70m cash offer. It rejected Fullers’ £54m takeover approach last month dismissing it as insufficient. Greene King wants to expand its presence in what it described as the “attractive [...]
US regulators sue RBS over mortgage securities July 19, 2011 Royal Bank of Scotland is facing a second lawsuit from US credit union regulators accusing it of misrepresenting mortgage backed securities that it sold. The latest lawsuit filed by the National Credit Union Administration against RBS Securities Inc seeks over $629m (£391m) in damages, NCUA said in a statement on Monday. The allegations stem from [...]
Cisco to chop 15 per cent of workforce July 19, 2011 Cisco Systems plans to cut 15 per cent of its staff and sell a set-top box factory as part of a plan to cut annual expenses by $1bn (£622m) as the network equipment maker tries to revive its fortunes. The company said on Monday that it will cut 11,500 jobs, compared with the several thousand [...]
Yates resigns over phone hacking scandal July 18, 2011 Assistant Commissioner of the Met police John Yates has resigned over the phone hacking scandal. The announcement came after his boss Sir Paul Stephenson stepped down.
FTSE dragged down by Eurozone and US debt worries July 18, 2011 Banking shares led the FTSE 100 down this morning as the eurozone crisis drained confidence from investors while fears over the US credit rating also cast a shadow. The Greek debt crisis deepened as Eurozone leaders continued to thrash out options to save the country’s economy. Officials proposed a range of schemes for Europe’s bailout [...]
News Corp shares hit two-year low July 18, 2011 News Corp’s Australian shares sank to a two-year low on Monday as the UK phone hacking scandal fallout worsened, raising concerns that a $2bn bid for an Australian pay-tv firm involving News Corp could be derailed by political intervention. Investors sent News Corp shares down as much as seven per cent in heavy volume after [...]
