Monitise’s Clairmail deal could be bad news for London market June 24, 2012 MONITISE’S acquisition of US mobile banking software firm Clairmail is expected to pass a shareholder vote today with flying colours. But if approved, the $173m (£111m) deal could be bad news for London’s stock market. It is understood that Monitise, currently traded on AIM, plans to move its listing across the pond once the financial [...]
Wikipedia boss backs O’Dwyer June 24, 2012 WIKIPEDIA founder Jimmy Wales yesterday launched a global campaign calling on home secretary Theresa May to stop the extradition of a British student to the US for alleged copyright offences. Richard O’Dwyer, a 24 year-old student at Sheffield Hallam University, could face up to 10 years in prison for creating TVShack.net, a website that linked [...]
Subway fights VAT in court June 24, 2012 SUBWAY is set to take its battle over the chancellor’s controversial pasty tax to the High Court next month in what could lead to a further embarrassing blow to the Treasury’s efforts to clamp down on VAT loopholes. More than 100 Subway franchisees are appealing against a court ruling in 2010 against the sandwich chain, [...]
BlackBerry firm set to unveil further losses June 24, 2012 THE tech industry is bracing itself for Research in Motion’s first quarter results this Thursday, when the BlackBerry maker is expected to reveal further losses. The Canadian company has struggled to keep up with rising competition, in the form of Apple’s and Samsung’s popular smartphones, and last month announced the hire of banks to help [...]
Julius Baer eyes BoAML’s Latin American and Asian presence June 24, 2012 JULIUS Baer, in talks with Bank of America about buying Merrill Lynch’s non-US wealth management unit, is particularly interested in its presence in Asia and Latin America, chief executive Boris Collardi told a newspaper yesterday. Asked by Swiss newspaper NZZ am Sonntag what was attractive about this deal, Collardi was quoted as saying: “The strong [...]
Insurance groups try to assess the cost of recent flood damage June 24, 2012 INSURANCE companies are expected to calculate within days the cost of this week’s flooding in the UK, a spokesperson from the Association of British Insurers (ABI) told City A.M. yesterday. The rainfall on Saturday was equal to a whole month’s normal rainfall, weather experts said. Insurance companies have been trying to provide immediate services to [...]
End of strike deal in sight for Lockheed June 24, 2012 LOCKHEED Martin, the Pentagon’s number one supplier by sales, said it had reached a tentative deal with a union that has been on strike for eight weeks at a Fort Worth, Texas, assembly plant for its F-16 and F-35 fighter aircraft. A bargaining committee of the International Association of Machinists and Aerospace Workers will recommend [...]
RWE seeks compensation over delay to Nordsee Ost wind farm June 24, 2012 GERMANY’S second-biggest utility, is seeking compensation from the federal government as its offshore wind farm project faces “further massive delays,” Der Spiegel reported yesterday, citing the company’s new chief executive. Efforts to link RWE’s so-called Nordsee Ost wind farm in northwestern Germany to the main electricity network keep running behind schedule, Peter Terium told the [...]
Inflation relief helps some struggling Brits June 24, 2012 ONE IN three households reported worsening finances in June, but there was some relief from inflation’s upward march and a slightly sunnier economic outlook for the next year. Just seven per cent of households reported improving finances in the last month, according to figures out today from Markit. The data provider’s current finances index gained [...]
Turmoil hits growth and exit options for private equity firms June 24, 2012 BUSINESS confidence among finance chiefs at firms backed by private equity has slumped to its lowest recorded level on the back of increased market uncertainty, a survey released today shows. The study from business advisory firm Deloitte, which polled 70 finance heads at to private equity-backed businesses, found optimism about future revenue growth had fallen [...]
