‘Disrespecting’ referee to officiate crunch match June 21, 2010 THE referee once accused by John Terry of disrespecting him in a Champions League match, will take charge of England’s crucial World Cup against Slovenia on Wednesday. German Wolfgang Stark came under fire from the Chelsea captain after he sent off Didier Drogba during the Blues’ quarter-final defeat to Inter Milan in March. At the [...]
SocGen man accused of hiding bets June 21, 2010 FORMER Société Générale trader Jérôme Kerviel used convincing lies to mask his risky, unauthorised bets, an ex-boss told a Paris court yesterday. The 33-year-old Kerviel, whom SocGen blamed for a €4.9bn (£4.1bn) trading loss in 2008, made bets without bosses knowing, former supervisor Eric Cordelle added. “Jérôme was always able to come up with reasons, [...]
Jupiter stock bounces in first session June 21, 2010 FUND manager Jupiter returned to the London stock exchange yesterday, riding buoyant markets to debut 15 per cent above the price set in an initial public offer (IPO) last week. Jupiter raised £220m to pay off debt and secured a £33.5m windfall for its current owners in its IPO, which priced at 165p. By mid-morning, [...]
French bank pays in shares June 21, 2010 NEARLY two thirds of shareholders in Société Générale chose to take their 2009 dividend in shares, indicating hope the French bank’s anaemic performance will improve. SocGen issued new shares amounting to almost three per cent of its capital to satisfy investors’ demands. Shareholders received stock equal to the dividend of €0.45 per share. SocGen — [...]
BA in strike pledge June 21, 2010 BRITISH AIRWAYS (BA) chief executive Willie Walsh has pledged to fly 100 per cent of the airline’s long haul flights should Unite launch a third strike period later this summer. Walsh, who gave up his £334,000 bonus in a bid to help the airline’s ailing finances, said BA would not be grounded by the strikes. [...]
Gold at new high after Saudi Arabia doubles its reserves June 21, 2010 GOLD surged yesterday to a fresh high of more than $1,265 (£857) after it was revealed that Saudi Arabia’s reserves of the precious metal had doubled. New estimates from the World Gold Council published yesterday revealed that the world’s largest oil exporter has twice as much gold as previously thought. The World Gold Council’s quarterly [...]
BASF to buy Cognis for €3bn June 21, 2010 GOLDMAN Sachs’ private equity arm and Permira are poised to announce the €3bn (£2.5bn) sale of Cognis, the nutritional ingredients maker, to German chemicals giant BASF. The deal, which could be revealed as soon as this morning, comes after months of negotiations over price. BASF, advised by Lazard, scooped the asset after Goldman Sachs and [...]
Liberty Media to de-merge parts of its group to create new stocks June 21, 2010 LIBERTY Media, the media firm owned by mogul John Malone, said yesterday it plans to spin off its investment and entertainment assets. Liberty Capital and Liberty Starz, which together hold interests in Live Nation, Sirius XM Radio and Time Warner, will form a separate company to allow the group to turn the remaining business, containing [...]
Capgemini extends Met deal June 21, 2010 Technology consultancy Capgemini has renewed a three-year, £190m contract with the Metropolitan Police to provide communication and computing services. The agreement renews an existing seven year contract with the Met, which is due to run until 2012. The firm will continue sub-contracting to existing partners BT and Unisys.
Russia cuts Belarus gas supply June 21, 2010 Russia’s gas monopoly Gazprom started to cut supplies to neighbouring Belarus as a dispute over unpaid debts escalated yesterday. Belarus said it would pay its gas bills within two weeks. The EU has expressed concern at Russia’s promise to extend the cuts.
