Osama bin Laden’s driver is convicted August 7, 2008 A Military court yesterday convicted Osama bin Laden’s driver of supporting terrorism but acquitted him on the more serious charge of conspiring with Al Quaeda in the first US war crimes trial since World War Two. The trial of Yemeni captive Salim Hamdan at the remote US naval base at Guantanamo Bay in Cuba was [...]
London is as congested as five years ago says TfL August 7, 2008 London is just as congested as it was five years ago before the introduction of the Congestion Charge, because of roadworks and measures to give priority to pedestrians, buses and cyclists. Transport for London (TfL), which runs the capital’s transport system, said traffic levels had fallen significantly since the Congestion Charge was introduced in January [...]
Profits surge at Murdoch’s News Corp August 7, 2008 Rupert Murdoch’s News Corp yesterday reported a 27 per cent increase in fourth-quarter profit, but warned investors that it faces tough times ahead. The media giant said that its film studios, national American newspapers and Fox News channel had done well, helping it to report profits of £1.13bn (£565m). Fox Interactive Media, the division in [...]
Why running a spreadbetting giant is just the ticket for this maths buff August 7, 2008 The boss of IG tells Katie Hope how volatile financial markets are boosting his industry Question: what do mathematicians and spread-betters have in common? Answer: quite a lot, it turns out, as exemplified by the man at the very top of the UK’s largest spread betting and contracts for difference firm IG Index. Tim Howkins, [...]
ITV revenues fall further as dividend cut August 7, 2008 ITV, the largest commercial broadcaster in the UK, has halved its interim dividend, lowered online and production growth targets and will strip out another £35m a year in costs after sinking £1.5bn into the red in the first six months of 2008. Shares in the company fell as much as 10 per cent following revelations [...]
Darling mulls stamp duty suspension August 6, 2008 The Treasury yesterday refused to deny reports that the Chancellor has plans to temporarily abolish stamp duty on house purchases. Yesterday morning, Alistair Darling took to the airwaves and hinted he may try to jump-start the ailing housing market by bringing forward proposals to suspend stamp duty. Details of the move, which would bring much [...]
Taxpayers to fund further Rock bail out August 6, 2008 The taxpayers is to provide Northern Rock with £3bn in financial support after falling house prices and problem loans pushed the struggling state owned lender into a £585.4m loss for the six months to June. Northern Rock executive chairman Ron Sandler yesterday announced that the bank would enter into a debt for equity swap with [...]
Why lad’s mag websites are beating the media gloom August 6, 2008 After Michael Gove, shadow secretary for education, attacked lads’ magazines for their supposedly corrupting influence earlier this week, the industry needed a good news story. Yesterday’s announcement that the online version of IPC Media’s lads’ mag Nuts had doubled its audience in a year was just the ticket. In June, 1.4m unique users (web speak [...]
Imperial Energy opens books to China, but Indian rival is still in the running August 6, 2008 Imperial Energy has opened its books to the Chinese state-owned oil company Sinopec, but talks are still continuing with its Indian rival. Imperial confirmed on Monday that it had received an approach, with sources close to the deal confirming the bidder as China Petroleum and Chemical Company, also known as Sinopec. It is believed to [...]
Soc Gen shares rise despite profit drop August 6, 2008 French bank Société Générale yesterday reported a 63 per cent fall in second-quarter profits, but its shares rallied, as figures were better than analysts had expected. The Paris-based bank, which is still coming to terms with the rogue trading scandal that caused a €4.9bn loss, saw net profits fall to €664m (£525m) from €1.74bn last [...]
