Germany in in talks to bail out Greece February 9, 2010 GERMANY and other European countries are working on a bailout plan to save debt-laden Greece and restore confidence in the single European currency, it emerged last night. The talks, which involve a range of possible options and could yet collapse, confirm that the European Union is keen to step in to stem mounting panic in [...]
Bailing out Greece is not the answer February 9, 2010 IT is now clear that Germany, the European Central Bank and others are seriously talking about bailing out Greece. The negotiations could still collapse; but there has been a significant shift over the past 24 hours, with a panicked European establishment increasingly desperate to salvage its beloved single currency. One option would be for Germany [...]
Products set to boost ITV February 9, 2010 EMBATTLED broadcaster ITV could boost its revenues by £50m a year, after the government lifted a ban on product placement. Culture secretary Ben Bradshaw yesterday said commercial broadcasters would be allowed to accept payment for displaying branded products in most shows. ITV insiders think the firm will earn around £50m-a-year from product placement deals by [...]
Kraft makes jobs u-turn February 9, 2010 KRAFT, the US group that began its campaign to take over Cadbury by pledging to keep its Somerdale factory near Bristol open, yesterday said it would close it after all. Days after completing on the deal, Kraft blamed Cadbury for its decision. Cadbury had already planned to close Somerdale and transfer 400 jobs to Poland [...]
AstraZeneca gets drug approval February 9, 2010 Pharmaceuticals giant AstraZeneca yesterday won US approval to promote its cholesterol drug Crestor in preventing heart disease. The move by the Food and Drug Administration (FDA) expands the drug’s market to include people with healthy cholesterol but who may be at risk of other heart problems.
Cazenove chief set to quit February 9, 2010 The chief executive of JPMorgan Cazenove, Nuguib Kheraj, is set to leave his job next month because the US bank taking over the UK broker has failed to find him a mutually suitable role. The former Barclays director is a favourite to succeed Lloyds chief Eric Daniels, if he leaves.
EU could damage UK hedgies February 9, 2010 European Union plans to regulate managers of hedge funds and other alternative investments need changing to avoid damaging Europe’s economy and curbing investor choice, says a report from British MPs today. The rules include managers in the EU registering and complying with leverage caps and appointing an independent valuer.
WHAT THE OTHER PAPERS SAY THIS MORNING February 9, 2010 FINANCIAL TIMES TREASURY BLOCKS £1BN TAX LOOPHOLE A corporate tax loophole that threatened to drain the exchequer of £1bn a year was blocked yesterday by the Treasure in legislation that will be backdated to October 2007. The move is a response to a threat by banks and other companies to exploit an apparent defedct in [...]
Top US brands win as results beat forecasts February 9, 2010 AMERICAN brand giants McDonald’s, Coca-Cola and Walt Disney reported stronger-than-expected results yesterday, though the food and drink profits are increasingly coming from outside the US . McDonald’s beat expectations with a 2.6 per cent increase in January sales compared to a year earlier. The US market, which fell 0.7 per cent, was propped up by [...]
Fidelity unveils details of Bolton’s $1bn Chinese investment fund February 9, 2010 FIDELITY International yesterday revealed plans to raise £630m ($1bn) in an initial fundraising for Anthony Bolton’s new China equity fund. Shares in the close-ended fund – issued at £1 – will start trading on the London Stock Exchange in April. The fund is named Fidelity China Special Situations in a nod to the Fidelity Special [...]
