Tesco buys Fresh & Easy suppliers June 21, 2010 Tesco has bought out the US operations of Wild Rocket Foods and 2 Sisters Foods, suppliers to its recently-launched Fresh & Easy business. The supermarket hopes to improve their performance and underscore its commitment to America.
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2010 FINANCIAL TIMES LEHMAN CREDITORS GET A LIFT AFTER $620M OF ASIAN ASSETS ARE SOLD The Hong Kong-based liquidators of Lehman Brothers’ Asian operations have sold $620m (£420m) of the failed investment bank’s portfolio of loans, bonds and equity positions in the region. The transactions, which achieved an average recovery rate of 100 per cent, mark [...]
‘Lucky’ Fed survives huge SW19 shock June 21, 2010 DEFENDING champion Roger Federer admitted he “got lucky” after surviving what would have surely been one of the biggest shocks in Wimbledon history on a historic opening day at SW19, which finished at almost 11pm. The six-time winner was two sets to love down on little-known Columbian Alejandro Falla, who then served for the match [...]
Pru chairman fights to woo City investors June 21, 2010 PRUDENTIAL chairman Harvey McGrath faces a testing encounter with Henderson Global Investors this week as he tries to save his job following the failed bid for AIA in Asia. McGrath, who has spent the past fortnight speaking to shareholders after the $35.5bn (£24bn) takeover of AIG’s Far Eastern arm collapsed, is due to visit four [...]
Gala Coral seized by mezzanine lenders June 21, 2010 GAMBLING outfit Gala Coral became one of the highest profile private equity blow-ups yesterday as its buyout owners lost control of the business in a debt-for-equity swap. Permira will write down £370m on the deal, while Candover and Cinven will write down £150m apiece, it is understood. Mezzanine debt holders who bought into the company [...]
Robson goes down fighting to Jankovic June 21, 2010 TALENTED British teenager Laura Robson shows she has the stomach for a fight after putting on a promising display against world No4 Jelena Jankovic on Centre Court. The 16-year-old former junior champion was handed a wildcard for the main draw after rising to 234 in the world rankings. And she showed just why she is [...]
Volcker: Rule is no Swiss cheese June 21, 2010 WHITE House economic adviser Paul Volcker has told US lawmakers they should not allow his proposed Volcker rule limiting risky trading by banks to become filled with holes. “He has told several people, including some lawmakers, that he does not want the Volcker rule to look like Swiss cheese,” an associate in his office said [...]
Broker locks in lower tax rate June 21, 2010 CITY veteran Terry Smith has sidestepped an expected rise in capital gains tax (CGT) by restructuring the way he holds £40m of shares in Tullett Prebon and Collins Stewart. Smith, who has played a key role building up both companies, has transferred the shares to a trust of which he is the sole beneficiary. The move [...]
Get mad and you will get even better: McEnroe offers Murray his blueprint June 21, 2010 THREE-TIME champion John McEnroe has told Andy Murray to follow his example and get angry if he wants to triumph at Wimbledon. Murray (right) launches his latest bid to break his Grand Slam duck this afternoon when he faces world No90 Jan Hajek on Court One. The British No1 reached the last four 12 months [...]
Osborne walks a tightrope June 21, 2010 THE coalition government will have to perform a delicate balancing act when the Budget is delivered today if it is to avoid a rebellion on the Tory or Liberal Democrat backbenches. Yesterday, sources close to Deputy Prime Minister Nick Clegg insisted the Budget would adhere to the party’s belief in “fairer taxation”, a pledge that [...]
