McClaren returns to Twente January 5, 2012 FOOTBALL: Former England boss Steve McClaren has been confirmed as manager of FC Twente for the second time. McClaren, who resigned from Nottingham Forest after just 122 days in October, won the Dutch title with Twente in 2009-10 before quitting to join Wolfsburg, who sacked him after less than a season.
England face Norway and Belgium January 5, 2012 FOOTBALL: England will play Norway and Belgium in two final warm-up matches before Euro 2012. Fabio Capello’s men travel to Norway on 26 May and host a promising Belgian side at Wembley on 2 June.
Buemi named Red Bull reserve January 5, 2012 FORMULA ONE: Red Bull have named Sebastien Buemi as their reserve driver for next season. Buemi, who was dropped by Red Bull’s feeder team Toro Rosso at the end of last year, will provide cover for his former outfit too.
Credit crunch hits British corporates January 5, 2012 WORSENING wholesale funding conditions are having the biggest impact on credit conditions for British companies since the end of 2007, according to the Bank of England’s latest survey of the UK credit landscape. The Bank said that the vast majority of non-financial corporates surveyed blamed tighter wholesale funding conditions for a deterioration in credit availability [...]
France sells €8bn of bonds but investor demand wanes January 5, 2012 FRANCE successfully sold €8bn (£6.6bn) of its debt at a closely-watched auction yesterday, but its borrowing costs edged higher and investor demand for its 10-year debt dropped sharply. France, which has been plagued by fears it could lose its much-coveted triple-A debt rating, sold €4.02bn of 10-year Oat bonds with yields up to 3.29 per [...]
Twin clamp-downs on health and safety culture and tax avoidance January 5, 2012 HEALTH and safety rules are a “monster” which damage the economy and the government must try to “kill off the culture for good”, Prime Minister David Cameron told an audience of small business owners yesterday. Cameron also called for large firms to pay their “fair share” of tax, joining the Deputy Prime Minister Nick Clegg [...]
Tullett cuts 80 brokers amid turmoil January 5, 2012 BROKER Tullett Prebon yesterday tried to reassure investors worried about the effect of global market turmoil on the City by unveiling a series of cuts it carried out late last year. The interdealer broker said last year’s efforts to slash costs – thought to include the loss of about 80 brokers in the US, Asia [...]
ENRC settles Congo dispute January 5, 2012 KAZAKH miner ENRC has agreed a $1.25bn (£800m) settlement with Canada’s First Quantum Minerals to end a long-running dispute over ownership of the Kolwezi project in the Democratic Republic of Congo. The London-listed miner said yesterday the deal would enable it to start developing its operations at the copper-cobalt Kolwezi Tailings project. ENRC will pay [...]
Ryanair traffic dips after fuel cost grounds planes January 5, 2012 RYANAIR suffered a five per cent drop in passenger numbers in December compared to last year, after it grounded up to 80 aircraft to offset higher fuel costs. But the low-cost carrier’s annual traffic has risen 5.1 per cent to 76.4m in spite of the bigger-than-usual stoppages. Ryanair’s load factor, a measure of how many [...]
Woodford back in Japan but ex-chief could abandon bid to win back old job January 5, 2012 THE FORMER head of Olympus returned to Japan yesterday where he said he will decide the future of his bid to return to his old post. Michael Woodford (pictured), who was fired as chief executive in October and blew the whistle on a $1.7bn (£1.1bn) accounting scandal, faces long odds in his battle with current [...]
