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.
Balfour Beatty set for schools job June 21, 2010 Construction firm Balfour Beatty has announced it is the preferred bidder for a schools project in Derby worth £231m. The contract involves building or refurbishing 14 schools in the city, beginning in November 2010.
E-retail rose last month June 21, 2010 Internet shopping rose at the fastest annual rate for two years in May, boosted by summer clothing buys and the World Cup. Shoppers spent £4.5bn online during the month, which is equivalent to £73 for every person in the UK.
