Liverpool FC accepts offer from Boston Red Sox October 6, 2010 Liverpool Football Club has been sold to the owners of us baseball team the Boston Red Sox. New England Sports Ventures has been given the go-ahead by Liverpool chairman Martin Broughton and RBS – the club’s main bank. Broughton said: “By removing the burden of acquisition debt, this offer allows us to focus on investment [...]
Service sector growth rises – but outlook poor October 5, 2010 Services activity growth rose unexpectedly in September from a 16-month low, but the outlook is poor with the weakest inflow of new business in over a year, a survey showed. The figures are unlikely to alter expectations that the Bank of England will keep its ultra-loose policy stance unchanged later this week and probably well [...]
Kerviel jailed over trading scandal October 5, 2010 Former Societe Generale trader Jerome Kerviel was sentenced to five years in prison by a Paris court for his role in a trading scandal and ordered to reimburse the French bank 4.9 billion euros (£4.2bn). The 33-year-old, sitting in a dark suit and tie and staring at the floor with his arms folded, was ordered [...]
Bank bonus pot drops to £7bn October 5, 2010 The City financial sector was expected to get £7bn for 2010, down four per cent from last year, the Centre for Economics & Business Research (CEBR) said. The CEBR consultancy said the drop reflected fewer people working in the City in the aftermath of the credit crisis. The new 50 per cent top rate of [...]
Cameron defends child benefit cut for high earners October 5, 2010 THE prime minister has defended controversial plans to withdraw child benefit form high earners. David Cameron said chancellor George Osborne “got it right” when he announced child benefit would be stripped from households with a parent who earns over around £44,000 from 2013. He told Sky News: “As we pay down the deficit we have [...]
AIA warns that failed Prudential deal could hit business October 5, 2010 AIA Group Ltd, which aims to raise about $15bn (£9.5bn) through a Hong Kong listing, flagged a series of business risks including the collapsed bid from Prudential as it launched the share offering. AIA, the Asian life insurance business of American International Group, also said in the preliminary prospectus filed to the Hong Kong Stock [...]
Tesco in £1.8bn profit October 5, 2010 Tesco has made a £1.8bn profit in first half profits – a 14 per cent jump from the same period the year before. The world’s third biggest retailer said the rise in underlying pre-tax profits came despite “modest” UK sales growth in the 26 weeks to 28 August. Sales across the group jumped by more [...]
Alliance Boots to cut 900 jobs October 4, 2010 Alliance Boots has announced plans to cut 900 non-retail jobs as part of a programme to save £56m. The cuts will be made mainly at the firm’s health and beauty division Nottingham. The firm said the cuts will not hit staff in shops and will be made through staff turnover where possible. Alex Gourlay, chief [...]
Greece to slash deficit and extend cuts October 4, 2010 GREECE will cut its budget deficit to seven per cent of gross domestic product (GDP) and launch a fresh wave of cuts in the public sector it said in its draft budget. The budget, aimed at convincing European leaders that it is on track to tackle its deficit crisis, would see the debt narrowed more [...]
Construction sector picks up – but confidence dips October 4, 2010 Activity in the construction sector picked-up in September, but firms’ confidence about the future fell to an 18-month low on worries about government spending cuts, a survey of purchasing managers showed. The Markit/Chartered Institute of Purchasing and Supply construction PMI rose to 53.8 in September from 52.1 in August, confounding expectations for an easing to [...]
