BILL OF THE WEEK November 27, 2011 TWO things are in plentiful supply at the 1980s-themed club Maggies in West London: bad taste and Russian Standard vodka. Combine the two, as one City boy did when he turned up to “start Christmas early” with seven friends, and you find yourself wearing the Miner’s Cap – a hat adorned with the Iron Lady’s [...]
Soccer stars in Italy urge bond buying November 27, 2011 Italy’s soccer players have joined the fight to save the nation’s finances, urging supporters to buy government bonds in a campaign kicking off today which underlines how far the debt crisis has moved from the business pages into everyday life. News bulletins have been dominated for months by the crisis, making esoteric financial terms like [...]
Hungary pleads for time from agencies November 27, 2011 HUNGARY hopes that credit rating agencies Fitch and S&P will wait for the results of its talks with the International Monetary Fund (IMF) and the European Union (EU) before taking any rating action, a top government official said yesterday. The country, whose economy is seen among the most vulnerable in central Europe, returned to the [...]
Belgium plans to form government this week November 27, 2011 BELGIUM may have a government this week, the country’s chief negotiator in charge of forming a cabinet Elio Di Rupo said yesterday, after political parties clinched a deal on the 2012 budget under pressure from rising borrowing costs. The budget agreement was seen as the last major obstacle to forming a government among six Belgian [...]
CVC Capital quashes talk ex-M&S boss is to run F1 November 27, 2011 FORMULA One owner CVC Capital has moved quickly to dismiss speculation ex-M&S boss Sir Stuart Rose is being lined up to replace Bernie Ecclestone to run the business. “Contrary to recent media speculation, CVC is not seeking a replacement for Bernie Ecclestone and intends to retain him as chief executive of F1,” CVC said in [...]
PUTIN PLOTS RETURN TO PRESIDENCY November 27, 2011 Vladimir Putin accepted his ruling party’s nomination yesterday to return to Russia’s presidency, while accusing foreigners of funding his political opponents in a reminder of the anti-Western rhetoric that characterised his years in power. Putin, president from 2000-2008 and now prime minister, is expected to easily recapture the presidency in an election in March.
Thomas Cook aims to reassure clients November 27, 2011 THOMAS Cook has launched a publicity offensive aimed at reassuring customers of its future as its incoming chairman, Frank Meysman, arrives to review the business, which is expected to involve a boardroom clearout. After being saved from collapse on Friday by a £100m bailout from its banks, Thomas Cook’s interim chief executive Sam Weihagen published [...]
AT&T mulls a big asset sale to save its T-Mobile deal November 27, 2011 AT&T is considering an offer to divest a significantly larger portion of assets than it had initially expected, in order to salvage its $39bn (£25.3bn) deal to buy T-Mobile USA, Bloomberg financial news-wires reported, citing a person familiar with the plan. Bloomberg said the exact size of the divestiture hasn’t been determined but reported it [...]
BHP Billiton announces reshuffle of senior management as CFO leaves November 27, 2011 MINING giant BHP Billiton has announced a senior management reshuffle to fill the gaps as chief financial offer Alex Vanselow steps down. Vanselow is set to leave the firm at the end of February and will be succeeded by Graham Kerr, who is currently the president of diamonds and specialty products. In another promotion, marketing [...]
Old Mutual veteran set to lead Phoenix Group offer November 27, 2011 PRIVATE equity house CVC has brought in Jim Sutcliffe, the former chief executive of Old Mutual, to lead its £1bn takeover bid for closed life and pension fund group Phoenix, it was reported yesterday. CVC is believed to have access to a data room to conduct due diligence but declined to comment last night. Clive [...]
