US problems expected to spread to UK July 14, 2008 The crisis at America’s biggest mortgage firms Fannie Mae and Freddie Mac may be occurring across the Atlantic but the shockwaves will be felt in the UK, experts warn. Speculation that US regulators were last night preparing to step-in to rescue the two companies, which are owned by shareholders but have government-sponsorship, was greeted with [...]
US reopens EADS $35bn tanker deal July 11, 2008 Pan-European manufacturer EADS yesterday said it intends to rebid for the $35bn (£17bn) contract it thought it had won to supply the US Air Force with refuelling tankers after the American government reopened the process. US defence secretary Robert Gates has said the contest for 179 new aerial refuelling tankers would begin again after the [...]
Buffet helps Dow Chemical snap up rival July 11, 2008 America’s Dow Chemical agreed to buy rival Rohm and Haas for $18.8bn (£9.4bn) in cash yesterday in a deal designed to boost sales in the higher margin specialty chemicals market. Dow will pay $78 in cash for each Rohm & Haas share, a 74 per cent premium to Wednesday’s closing price of $44.83 the day [...]
Housing recession creeping closer as Barratt cuts jobs July 11, 2008 Leading economists predicted yesterday that house prices will fall by 35 per cent by the end of next year, as lender Halifax reported a 2 per cent slump in values last month. Britain’s biggest mortgage lender said that house prices are already 6.1 per cent lower than last June, fuelling fears Britain is heading for [...]
FTSE as low as 2005 July 11, 2008 Leading U.K. stocks slumped to the lowest since 2005, led by retailers and travel companies on concern a slowing economy will curb consumer spending. The slump in the FTSE 100 Index came as the Bank of England left interest rates unchanged. The FTSE 100 Index retreated 122.8, or 2.2 percent, to 5,406.8 in London as [...]
Citi private bank in new accounts ban July 11, 2008 Leaked documents show American group to tighten anti-money laundering controls Citigroup’s private banking division, which globally has $28bn assets under management, has ceased taking new UK customers because of concerns over its anti-money laundering procedures, City A.M. can reveal. Leaked internal documents show that Citibank International Personal Bank (IPB) this week barred its staff from [...]
Pietersen ton rocks Boks in a ‘special day’ July 11, 2008 Kevin Pietersen has hailed his century against South Africa yesterday as one of the most special days of his career. Facing the country of his birth in a Test match for the first time, Pietersen smashed 13 fours and a six in a magical unbeaten 104, which put England in control of the first Test [...]
Cole dig at Mourinho and Grant over negative style July 11, 2008 Chelsea midfielder Joe Cole has aimed a dig at former Blues managers Jose Mourinho and Avram Grant, accusing the pair of not wanting to play “the right way”. Cole says he is delighted at the arrival of former Portugal boss Luiz Felipe Scolari, who welcomed the players back for pre-season training this week. And in [...]
Ronaldo: No deal is in place July 11, 2008 Cristiano Ronaldo has denied reports suggesting he has agreed personal terms with Real Madrid. Rumours in Spain say the Portuguese international has agreed to join the La Liga champions in a record-breaking £75m transfer from Manchester United. But the winger, who is likely to be out of action for up to three months after undergoing [...]
Classy final proves a hit with punters July 11, 2008 Betdaq’s PR Director Russ Wiseman looks back at a busy week on the exchange… Most people would agree that last Sunday we witnessed he greatest tennis match ever played in the Wimbledon final between new champion Rafael Nadal and Roger Federer. The amazing spectacle also produced arguably the most tremendous betting event we have yet [...]
