England U19s out of Euros July 27, 2010 FOOTBALL: England’s Under-19s crashed out of the European Championships after a 3-1 semi-final defeat to Spain. Noel Blake’s side fell behind early on when Liverpool youngster Dani Pacheco notched for Spain, and Keko soon strolled through the defence to make it two. Tottenham midfielder John Bostock’s fine volley reduced the arrears before half-time but a [...]
Britain set to defy double dip July 27, 2010 BRITAIN will avoid sinking into a double-dip recession and its economy will be expanding at trend growth rates as early as 2012, a leading think-tank will say today, adding to the increasingly rosier outlook for the UK and defusing fears of further economic contraction. In its latest forecast for the UK economy, the National Institute [...]
Big pension savers face new curbs July 27, 2010 PENSION savers who put aside large sums for retirement are set to be hit by new plans to sharply reduce the amount of tax-free contributions they can make each year – regardless of how much they earn. Yesterday, the government outlined plans to slash the amount a pension saver can put aside tax free each [...]
GE settles in bribery case July 27, 2010 GENERAL Electric will pay $23.4m (£15m) to settle bribery charges over government contracts in Iraq, the US Securities and Exchange Commission (SEC) said yesterday. The SEC alleged that the largest US conglomerate, and firms it later bought, paid $3.6m in illegal kickbacks to Iraqi officials from 2000 to 2003, to win contracts funded by the [...]
Honeymoon is over for the coalition July 27, 2010 IT is time for the markets and investors to start paying attention to Westminster once again. Ever since the election, and especially since the Budget, sentiment towards the UK has improved markedly. Gilt yields have fallen and sterling has soared; the pound even reached a four-month high against the dollar yesterday, with asset allocators now [...]
Vodafone’s Bond survives July 27, 2010 VODAFONE chairman Sir John Bond survived a shareholder rebellion yesterday that tried to oust him from the telecoms group. Just 6.5 per cent of shareholders voted against the re-election of him to the board yesterday. A further six per cent also voted against the re-election of deputy chairman John Buchanan. But more protest votes had [...]
LVMH profit shows luxury is back July 27, 2010 French luxury goods behemoth LVMH Moet Hennessy Louis Vuitton reported a 53 per cent jump in first half net profit yesterday, suggesting a strong return of high-end consumption. The world’s largest luxury goods company posted net profit for the first six months of €1.05bn (£875m), up from €687m a year ago as all divisions posted [...]
CBRE sees concrete growth July 27, 2010 CB Richard Ellis, one of the world’s largest commercial real estate service companies, posted a second-quarter net profit yesterday and its strongest revenue growth since 2007. The company said its net income was $54.8m (£35.2m), compared with a net loss of $6m a year ago after a major restructuring. Revenue for the Los Angeles-based company [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 27, 2010 FINANCIAL TIMES SOROS SET TO BUY STAKE IN BOMBAY EXCHANGE George Soros, the billionaire investor, is in final talks to buy Dubai Holding’s 4 per cent stake in the Bombay Stock Exchange, as foreign investor interest in India’s fast-growing financial markets rises, people close to the matter said. Soros Fund Management is planning to pay [...]
Tomkins gets flak for £3bn takeover deal July 27, 2010 INDUSTRIAL components manufacturer Tomkins faced another headache from one of its leading shareholders yesterday after recommending a £2.9bn takeover offer from a Canadian consortium. Tomkins chairman David Newlands urged investors to accept the 325p per share bid from private equity player Onex and the Canada Pension Plan Investment Board, saying it reflected “both the value [...]
