GDF and IP set to confirm deal August 9, 2010 FRENCH utility GDF Suez and International Power are set to announce they have struck a deal on a planned asset tie-up this morning. GDF will pay a cash dividend of about 90p a share to International Power shareholders as part of a reverse takeover, after talks were revived in July. The enlarged firm will generate [...]
Porn star takes centre stage in the ousting of HP boss Mark Hurd August 9, 2010 A glamorous former porn star set in motion the chain of events that last week ended with the downfall of one of America’s most powerful chief executives. HP boss Mark Hurd, 53, was forced to resign after it was found $20,000 (£12,500) of expense claims in his name were inaccurate. It then emerged the married [...]
Goldman bets on derivatives August 9, 2010 DERIVATIVES activities generated up to a third of Goldman Sachs’ revenues last year, according to figures handed to the US Financial Crisis Inquiry Commission (FCIC). Goldman derived between $11.3bn (£7.1bn) and $15.9bn of its $45.2bn net turnover from derivatives-based businesses in 2009, a source close to the bank confirmed. At the upper end, the amount [...]
Rebound in European M&A begins to take a firmer hold August 9, 2010 GREEN shoots have started to take a firm hold in the M&A arena, with European deal value soaring this year compared to the first half of 2009. A total of €182.7bn (£151.8bn) worth of deals came to the market in the first six months of 2010, an increase of over 25 per cent on last [...]
CITY VIEWS: ARE YOU WORRIED ABOUT RISING FOOD PRICES? August 9, 2010 ADAM BYRNES | ABSOLUTE VENTURES “It’s inevitable really, but to be honest I have more things to worry about. People still have to eat, it’s not causing me too many sleepless nights, I think if prices go up then it will only be a short-term issue.” PETER LAYCOCK | IRWIN MITCHELL “I’m not particularly bothered [...]
London braced for a drop in house prices August 9, 2010 LONDON’S house prices continue to surge ahead for the moment, riding roughshod over the decline that holds the rest of the country in its grip, though the capital is expected to succumb to falling prices in the coming months. London was one of only two regions which reported material price hikes in July, according to [...]
Retail sales bleak as spending cuts dent confidence August 9, 2010 RETAIL sales growth is slowing as fears over public spending cuts hit consumer confidence, according to the British Retail Consortium (BRC). Like-for like sales were up just 0.5 per cent in July compared with the same month last year. That was down on the 1.8 per cent rise the year before. Food sales performed relatively [...]
Russians lead army of oil rich shoppers in UK August 9, 2010 The UK has seen a rise in international shoppers from oil rich countries, according to new data. In July there was an 81 per cent increase in shoppers from the Russian Federation, 60 per cent more from the Middle East and 38 per from Nigeria, compared to the same period last year. According to the [...]
Rise in the cost of crude oil forecast to send petrol forecourt prices rocketing August 9, 2010 PETROL prices are set to soar to a record high of 126p a litre in the New Year, it was predicted yesterday. Higher fuel duty and a rise in VAT – which are both due to come into force in January – will exacerbate the rising cost of crude oil and push pump prices up [...]
Autobar sold for €1.2bn to CVC Partners August 9, 2010 AUTOBAR, the food and drink vending machine operator, has become the latest asset to be passed between private equity players after CVC Capital Partners paid €1.2bn (£1bn) to take the business from Charterhouse. CVC will fund the deal with €650m of senior debt from Nomura, BNP Paribas, ING, Lloyds Banking Group and HSBC. Charterhouse is [...]
