Intel sales hit by Thai hard drive drought December 12, 2011 SHARES in US chip maker Intel fell more than four per cent in trading yesterday as it warned that supply shortages of computer hard drives caused by floods in Thailand would hurt its revenue in the current quarter. More than 600 people have died in the flooding, which has caused billions of dollars in damages [...]
Virgin wades back into the fight for BMI December 12, 2011 VIRGIN Atlantic has muscled into the auction for BMI, a month after British Airways parent IAG agreed to buy the airline. Lufthansa, which owns BMI, said yesterday it has also reached an agreement in principle to sell the carrier Virgin, stressing that its deal with IAG had not been exclusive. Virgin, which has shown interest [...]
BEHIND THE SCENES AT ENDEMOL December 12, 2011 Q. What is time warner hoping to achieve? A. Time Warner has turned its eyes to Europe: of the company’s 20 deals in the last few years, about 80 per cent have been outside the US. Endemol’s deadline for sorting out its finances is today, so this is an opportune time for Time Warner to [...]
The City’s Takeover Panel needs to get a grip December 12, 2011 WHEN Omega Insurance decided five years ago to redomicile to Bermuda, I would think it unlikely that many shareholders gave much thought to how the company would be regulated from here on in, specifically in regard to being within the remit of the City’s Takeover Panel. But in the past few days many of them [...]
Battersea Power Station folds December 12, 2011 Battersea Power Station was put into administration yesterday after its owner failed to repay it creditors £324m of debt. Irish developer Real Estate Opportunities had been seeking a new investor to repay the debts and fund a £5.5bn regeneration scheme. A High Court ruling yesterday confirmed Ernst & Young as administrators a move set to [...]
Carrefour launches bid for G&G December 12, 2011 Carrefour, the world’s second-largest retailer, said yesterday it was offering to buy Guyenne et Gascogne, in a cash bid worth €494m (£418m) to secure its relationship with its largest French franchisee. The supervisory board of Guyenne et Gascogne has approved the proposed transaction, which includes an option to be paid in Carrefour shares, the two companies [...]
LLOYDS TRADER, A BORIS BIKE, AND THE APPEAL December 12, 2011 THERE seems to be no limit to the feats of endurance some City workers will perform for a good cause. For Opportunity International, the charity behind City A.M.’s Christmas appeal, one brave Lloyds Banking Group trader decided to tackle a 200-mile bike ride in less than 24 hours. What made the challenge particularly gruelling was [...]
£250,000 RAISED IN THREE WEEKS December 12, 2011 OUR Christmas charity appeal has raised a staggering £250,000 in just three weeks – all thanks to our generous readers. Please find the time to make your contribution, and through our match funding agreement, all donations from UK individuals will be matched by the Government pound for pound. You can also try your hand at [...]
CHIEF EXECUTIVE OPPORTUNITY INTERNATIONAL UK December 12, 2011 There has been more news over the past week focusing on the increasing numbers of people in the UK running up large debts. At this time of year, of course, there is always heightened concern as consumers stretch credit limits to push the boat out for the festive season. Listening to the talk of payday [...]
EXPECT THE UNEXPECTED AS MARK HIX MOVES INTO BELGRAVES HOTEL December 12, 2011 THE RUMOURS have been swirling around the leisure industry for months, and Thompson Hotels yesterday confirmed that chef Mark Hix will run the restaurant and bar at its new hotel launch Belgraves, due to open in January. The 80-seat Hix Belgravia, the chef’s fourth restaurant, will offer a menu inspired by his travels around the [...]
