Decision close on £1.3bn bids for London Metal Exchange June 10, 2012 THE final bidders are vying for the London Metal Exchange and a winner could be chosen as soon as today. InterContinental Exchange (ICE) and Hong Kong Exchanges and Clearing (HKEx) are both believed to have tabled bids of around £1.3bn for the 135-year-old LME, the City’s last open-outcry trading pit. Directors are expected to vote [...]
Gupta will not testify in own defence June 10, 2012 Former Goldman Sachs board member Rajat Gupta, on trial over insider trading charges, has decided not to testify in his own defence, it emerged yesterday. “After substantial reflection and consideration, we have determined that Mr Gupta will not be a witness on his own behalf in the defense case,” Gupta’s lawyer, Gary Naftalis, wrote in [...]
Roche won’t revisit Illumina bid June 10, 2012 Roche has no plans to warm up its play for Illumina after its takeover bid for the US firm failed, and will pursue smaller takeovers instead, chief executive Severin Schwan said yesterday. “We are constantly looking at the market, and will concentrate on smaller and mid-sized acquisitions,” Schwan said in Swiss weekly Sonntag.
Dubai’s Friendi plans expansion June 10, 2012 Dubai group Friendi plans to expand into six more countries within four years after the mobile virtual network operator agreed a strategic partnership with Virgin Group, its chief executive said yesterday. Friendi will add Virgin Mobile’s South African unit to its existing licences in Oman and Jordan.
Northern firms drag down UK private sector June 10, 2012 BUSINESSES in the north of England fell further behind their southern rivals in May, helping to drag down growth in the UK private sector, figures out today show. The private sector remains in growth overall, with a purchasing managers’ index reading of 52.3 in May according to Lloyds TSB. However, it has slowed from 52.6 [...]
From Dragons’ Den to apprentices June 10, 2012 FORMER Dragons’ Den star Doug Richard has been hired by the government to review its stance on apprenticeships. His appointment comes as business group the CBI urges the coalition to find a “radical new vision” for training school and college leavers, after six in 10 businesses it surveyed complained that youngsters are not ready for [...]
China’s trade figures beat dour forecasts June 10, 2012 CHINA’S May trade data beat gloomy market expectations, figures from the customs administration showed yesterday, with crude oil imports surging and US demand for exports offsetting lacklustre shipments to Europe. Exports rose 15.3 per cent in May from a year earlier, a much stronger rate than expectations of a 6.8 per cent increase. Both exports [...]
UK firms are still nervous in spite of growth June 10, 2012 BRITISH businesses have gained confidence about their current performance but are increasingly wary about Eurozone turmoil hitting sales, new figures show. A poll of polls from accountant BDO shows that firms are upbeat about current trading, with its output index rising from 95.8 in April to 96.7 in May. The index has remained above the [...]
City’s top dogs race for Sport Relief triathlon June 10, 2012 AS if the City was not competitive enough, dozens of chief executives yesterday donned their trainers and swimming caps in aid of Sport Relief. Organised by Phil Smith, chief executive of Cisco UK and Ireland, the Leaderboard Triathlon Challenge put over 30 business bosses through their paces in the grounds of Blenheim Palace, Oxfordshire. And [...]
Gender is still a barrier to jobs June 10, 2012 FINANCIAL services firms are making more effort than ever before to promote gender diversity, yet two thirds of women working in financial services still say their gender makes it harder for them to succeed, new research reveals. The annual Women in Finance survey from Financial News, published today, shows that of the 650 women questioned, [...]
