Iran death stokes protests June 22, 2009 A 26-year old woman identified as Neda Agha-Soltan is being hailed as a martyr in Iran after videos of her apparent murder in a protest in Tehran on Saturday have appeared online. Iranians on social networking sites called for mourning for Neda, who was reportedly killed by a sniper from the pro-government Basij militia. Her [...]
BRETT OLSHER DEUTSCHE BANK June 22, 2009 In a deal which could rake in a combined £1.4bn, Deutsche Bank, JPM Caz, Goldman Sachs and UBS are the advisers behind the Anglo-Xstrata mining talks. The latter was advised by co-head of M&A Brett Olsher, head of natural resources M&A for EMEA Nigel Robinson and Charlie Foreman of Deutsche Bank. Olsher, a long-standing adviser [...]
Transparency best medicine for banks June 22, 2009 WITH Alistair Darling preparing to unveil some of his thoughts on shaking up financial regulation, it is time to get back to basics. The following are some of the lessons we have all been forced to relearn over the past few months; any proposed reform should be assessed in lights of these simple realities about [...]
Reuters to leave the LSE June 22, 2009 FINANCIAL data provider Thomson Reuters said yesterday that it plans to withdraw its shares from the London Stock Exchange (LSE) to simplify its capital structure. The company, formed when Canadian data publishing company Thomson bought British news and financial information provider Reuters, said it would also remove its shares from the Nasdaq. It will retain [...]
What obstacles would an Xstrata / anglo tie-up face? June 22, 2009 ALAIN WILLIAM SOCIETE GENERALA merger of Xstrata and Anglo American would make strategic sense. We don’t think the deal will raise competitive concerns. However, we believe the deal carries significant execution risk given potential political headwinds in South Africa, home to around 50 per cent of Anglo’s assets. RONNIE CHOPRA FALCON SECURITIESIf the merger does [...]
Bercow is voted in as Speaker June 22, 2009 CONSERVATIVE MP for Buckingham John Bercow was last night elected as the new speaker of the House of Commons, after a surprise win of over 50 per cent of the House. Bercow won 322 votes in the third round, despite members of the Tory party largely refusing to vote for the maverick former right-winger. But [...]
ANGLO SAYS NO TO XSTRATA MERGER June 22, 2009 ANGLO AMERICAN, led by chief executuve Cynthia Carroll, snubbed rival miner Xstrata’s takeover approach last night, calling its rival’s terms “totally unacceptable”. Anglo said Xstrata’s £40bn plus merger proposal was “unattractive” and would hurt its interests in the platinum, iron ore and diamond markets. Xstrata has strong coal and copper interests. Anglo added that its [...]
Anglo’s snub may be a ruse June 22, 2009 ALTHOUGH Anglo American last night rebuffed Xstrata’s bid for a tie-up, industry experts say its brush-off is just a ruse to get more money from the deal. “There’s minimal benefit for Anglo, but maximum for Xstrata as the deal stands. Anglo has good knowledge of any costs and synergies that could be made with a [...]
US pours cash into housing plan June 22, 2009 The US Treasury is to plough $268m (£164m) into efforts to create new jobs and provide affordable housing, the department announced yesterday. The cash injection forms part of the American Recovery and Reinvestment Act, aimed at funding housing developments in key states such as Washington D.C. “This initiative will help spur construction and development, create [...]
HOW WILL SOLVENCY II LEGISLATION THREATEN UK PENSIONS? June 22, 2009 NIGEL CALLAGHAN HARGREAVES LANSDOWNThis is currently draft legislation and insurers, via the ABI, are pretty strongly lobbying the EU that these rules are way over the top. The current UK rules are pretty well developed. The UK is a far more mature market than some of the European countries. The 20 per cent – that [...]
