Blackout looms as oil workers step up protest June 21, 2009 POWER stations and other energy-sector sites face further disruption today as the bitter workers’ dispute continues at the Lindsey oil refinery in Lincolnshire. Workers sacked by energy giant Total over wildcat strikes are planning to burn their dismissal letters in protest – ahead of a deadline to reapply for their jobs. The energy giant sacked [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2009 THE SUNDAYSThe Sunday TelegraphBA CHIEF SNUBS SELECT COMMITTEEWillie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay [...]
Hedgies meet to plot battle over reforms June 21, 2009 HEDGE fund luminaries will assemble this week to discuss ways to combat European Commission (EC) proposals to tighten up regulation of alternative investment firms, City A.M. can reveal. In the first of a series of regular meetings, the steering committee, led by industry body the Alternative Investment Management Association (Aima), will discuss aspects of the [...]
Liver transplant for Apple’s Steve Jobs enables his return June 21, 2009 APPLE chief executive Steve Jobs is understood to have undergone a liver transplant operation about two months ago and is expected to return to work by the end of this month. Jobs, a pancreatic cancer survivor seen as the driving force behind development of the iPod, iPhone and other category-defining products from Apple’s famed innovation [...]
Independent rights issue June 21, 2009 Independent News & Media is expected this week to announce a plan to launch a rights issue to repay bondholders. The indebted publisher of The Independent would be likely to raise ?50-?100m (£42-84m) with the issue, which would be steeply discounted from the Dublin-based company’s share price. INM’s biggest shareholders, Sir Anthony O’Reilly, former chief [...]
Troubled firms half the chance June 21, 2009 Ailing firms have only a 50 per cent chance of being rescued in the current economic environment, according to new research by accountants and business advisers PricewaterhouseCoopers. According to a survey of 150 turnaround specialists, scarcity of funding and poor management continue to be the driving forces pushing companies towards collapse. Banks are also believed [...]
Airmiles tycoon to sue Coutts June 21, 2009 Airmiles founder Sir Keith Mills has formally launched a legal action seeking compensation from the Queen’s bankers Coutts over investments made in products offered by troubled insurer AIG. The case raises the prospect of the Royal Bank of Scotland owned bank paying out millions of pounds in compensation to Mills and other wealthy clients following the [...]
Branson exits Brawn tie-up June 21, 2009 SIR Richard Branson’s Virgin Group will drop sponsorship of the Formula One (F1) team Brawn GP next year, the business magnate said yesterday, as it has become too expensive. “We got in when it was very cheap and it’s been great for us with global coverage, but I suspect next year the price will be [...]
Darling to set out plan for a stronger tripartite system June 21, 2009 CHANCELLOR Alistair Darling will ignore calls by governor of the Bank of England Mervyn King to give the central bank more powers, in favour of strengthening the current tripartite system, Treasury sources said yesterday. Darling is expected to lay out his vision for the future of UK financial regulation in a green paper that could [...]
BSkyB and ESPN set to carve up Premier League Setanta rights June 21, 2009 BROADCASTERS were last night putting the final touches to bids to acquire the live media rights to the English Premier League which have been revoked from troubled firm Setanta. BskyB and Disney-owned ESPN are expected to carve up the 46 football matches between them after Setanta’s board failed to find a last-ditch solution, putting it [...]
