Airline bomb plot is thwarted May 7, 2012 A plot similar to previous attempted bombing attacks by Al Qaeda in the Arabian Peninsula using a redesigned underwear bomb for use on aircraft was thwarted and no airline was ever at risk, two US counter-terrorism officials said yesterday. “This device has the hallmarks of previous AQAP bombing attempts,” one official said on condition of [...]
US consumer credit shoots higher May 7, 2012 American consumers went back to using their credit cards in March to keep spending while student and new-car loans shot up as the value of outstanding consumer credit jumped at the fastest rate since late 2001, data from the Federal Reserve showed last night. Total consumer credit grew by $21.36bn – more than twice the [...]
US Treasury to sell off $5.8bn of its AIG stake May 7, 2012 SHARES in American International Group (AIG) slumped nearly three per cent yesterday after the US Treasury sold off almost $5.8bn (£3.6bn) of shares it acquired as part of the government’s bailout of the insurer in 2008. The Treasury said over the weekend that it planned to sell nearly 164m shares, cutting the government’s 70 per [...]
BP may explore Arctic through TNK-BP venture with Rosneft May 7, 2012 BP’S hopes of exploring the largely untapped waters of the Russian Arctic could be revived a year after a deal with Russia’s state-controlled oil company Rosneft collapsed. TNK-BP, the firm’s 50-50 joint venture with Russian consortium AAR, said yesterday it had been approached by Rosneft to take part in projects to explore the region’s vast [...]
Boutique advisory firm Strand Hanson sets up Strand Ventures May 7, 2012 CORPORATE advisory firm Strand Hanson unveiled today it has launched Strand Ventures, a new division that will target early stage businesses across sectors from natural resources to healthcare. The firm has poached Iek van Cruyningen and Naiem Hussain, industry veterans from rival boutique firm Silverwind Securities, to lead the London- based venture. Strand Hanson said [...]
RUSSIA’S PUTIN INAUGURATED AS PRESIDENT May 7, 2012 Vladimir Putin yesterday ordered Russia’s government to boost investment and shake up state-run industries in a flurry of decrees he issued after being inaugurated as president of Russia in a lavish ceremony at Moscow’s Grand Kremlin Palace.
New York launches bike scheme May 7, 2012 New York is following in the footsteps of London and Paris with its own bicycle-sharing scheme, which will be supported by $41m of sponsorship from Citigroup. The New York Transportation Department, which unveiled the scheme alongside Citi chief Vikram Pandit yesterday, said it will make 10,000 bikes available at 600 stations across Manhattan and Brooklyn [...]
EU vows to punish Argentina May 7, 2012 The European Union’s trade chief said yesterday he would soon take measures against Argentina over its decision to expropriate the stake held by Spain’s Repsol in oil company YPF, though he did not say what action he was planning. Argentina’s decision to seize control of YPF last month angered its biggest trade partners, who were [...]
City A.M. introduces third annual awards May 7, 2012 City A.M. is today launching its third annual awards with news that the luxury car brand Lexus has signed a two-year headline sponsorship deal. The annual awards ceremony, which celebrates those who have helped put the City of London at the centre of the world’s financial markets, will take place on 17 October at the [...]
Meet this year’s judging panel May 7, 2012 Once again the judging panel for the City A.M. awards brings together some of the best known and brightest minds in the City. Our already excellent panel is this year joined by Katherine Garrett-Cox, chief executive of Alliance Trust. ALLISTER HEATH Allister, editor of City A.M., chairs the judging session. Last year’s session lasted nearly [...]
