Tendulkar’s tour ended by toe injury September 5, 2011 INDIA batsman Sachin Tendulkar will remain marooned on 99 international hundreds after it was announced yesteday that his tour of England, likely to be his last, had been ended by a toe injury. The 38-year-old missed the first game of the five-match one-day series, which ended in a rain-affected draw at Durham, and will now [...]
SPORT | IN BRIEF September 5, 2011 Uefa uphold Wenger suspension FOOTBALL: Arsenal manager Arsene Wenger will serve a two-match Champions League suspension after his appeal against the punishment was rejected by Uefa. The Frenchman was initially given the suspension in the wake of the Gunners’ play-off first leg at home to Udinese. Wenger will now be banned for the Champions League group [...]
CITY GRANDEES IN PLOT TO BUY BANK September 5, 2011 LORD Levene’s investment vehicle, NBNK, has entered talks to buy out National Australia Bank’s UK business, in a move that could shake up the industry by creating a banking behemoth to rival the dominant players. If NBNK, run by a group of City grandees, is successful in buying both NAB’s UK holdings and the 632 [...]
Deutsche: crisis will kill lenders September 5, 2011 THE Eurozone crisis will see some weak banks collapse if governments renege on part of their debts, Deutsche Bank chief Josef Ackermann (pictured below) has warned. “It’s stating the obvious that many European banks would not survive having to revalue sovereign debt held on the banking book at market levels,” said the outgoing chief executive [...]
FTSE tumbles on bank fears September 5, 2011 THE FTSE shed £49bn yesterday after slumping to a loss of nearly four per cent, with investors spooked by a barrage of bad news. RBS dragged the index down, falling 12 per cent on the news it is being sued by the US Federal Finance Housing Agency (FHFA) over allegations it misled buyers of mortgage portfolios [...]
Eurozone learnt nothing from 2008 September 5, 2011 FOR anybody with ears to hear it, the message yesterday from Deutsche Bank’s boss was chilling. Many Eurozone banks would go bust if they were forced to accept a “haircut” to fully reflect current market valuations on their sovereign debt holdings, Josef Ackermann, Deutsche Bank’s chief executive warned. He was speaking at Frankfurt’s annual Banks [...]
AT&T may dodge break fee September 5, 2011 AT&T may not have to pay Deutsche Telekom a multi-billion dollar break fee, even if its $39bn (£24bn) acquisition of T-Mobile USA falls through, according to people familiar with the matter. The US government last week went to court in an attempt to derail the bid on competition grounds, threatening to trigger a breakup fee [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 5, 2011 FINANCIAL TIMES LIBYA’S NEW OIL CHIEF WARNS THAT OUTPUT WILL NOT RECOVER UNTIL LATE NEXT YEAR Libyan oil production will not return to pre-war levels until late next eyar at the earliest, with many of the county’s oil facilities having suffered heavy damage and looting during the conflict, according to the newly appointed charman of [...]
SFO considering banks probe September 5, 2011 The Serious Fraud Office is looking into the allegations against UK institutions made by the US Federal Housing Finance Agency (FHFA). It said it has not decided whether to launch its own formal investigation but will keep abreast of developments in the US. The FHFA is suing 17 banks and financial institutions over alleged misrepresentation [...]
ITV, 3i and Inmarsat in FTSE risk September 5, 2011 3i could be demoted from the FTSE 100 next week unless there is a shake-up at the foot of the blue chip index in trading today. A reshuffle will be applied next week, based on tonight’s closing price. Investment group 3i is among the favourites to drop out of the coveted top index, with satellite [...]
