Media giant under siege as MPs strike May 1, 2012 RUPERT Murdoch was yesterday lambasted by a powerful group of MPs for turning a blind eye to instances of wrongdoing at News International. The House of Commons’ culture, media and sport committee found after its five-year investigation concluded yesterday that “the whole affair demonstrates huge failings of corporate governance at [News International] and its parent [...]
Man boss Clarke defiant in face of investor anger May 1, 2012 ANGRY investors staged a revolt over pay at beleaguered hedge fund Man Group after chief executive Peter Clarke was awarded a $7m package despite the sinking share price. Around one in seven shareholders voted against the remuneration report while nearly a third came out against Alison Carnwath, just days after Barclays investors criticised her role [...]
Why Boris Johnson is by far the best choice for Londoners May 1, 2012 TOMORROW is decision time for Londoners. Our great city is at a crossroads: it must choose who to elect as its mayor at a time of extreme economic uncertainty and just months before the Olympics, when the eyes of the world will be on London. Having carefully examined all the candidates, this newspaper believes that [...]
Strong sterling shatters hopes of UK recovery May 1, 2012 BRITAIN’S manufacturers took a hammering in April as export orders plummeted because of the strong pound and the Eurozone crisis, data showed yesterday. On a day when the FTSE gained one per cent and the Dow Jones index hit a four-year closing high, economists nevertheless warned that rising sterling could threaten any hope of an [...]
CAN MAN GROUP TURN AROUND ITS PERFORMANCE? May 1, 2012 SARAH ING Singer Capital Markets AHL has been under pressure and was on average 14 per cent below peak at the end of March… Investor sentiment is “fragile” and the business remains heavily dependent on an improvement in AHL. DAVID MCCANN Numis To perform, AHL needs markets to trend for a sustained period of time [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 1, 2012 FINANCIAL TIMES Iron Maiden star runs to the valleys Iron Maiden frontman Bruce Dickinson has been urging heavy metal fans to “Run to the Hills” since the 1980s, but the rock anthem may be recast as “Run to the Valleys” as he announced plans to open an aviation centre in South Wales that could bring [...]
Pimco boss Bill Gross warns of inflation risk May 1, 2012 PIMCO boss Bill Gross has warned of the inflation risk caused by central banks’ efforts to kick-start growth and raised the prospect of a fresh downgrade to the US credit rating. Gross, founder and co-chief investment officer of the California-based bond giant, said stimulus policies have created an “ocean” of credit. “In 2008, central bankers [...]
Bolivian army seizes control of Spanish energy business TDE May 1, 2012 BOLIVIA followed in Argentina’s protectionist footsteps yesterday as it nationalised a local unit of Spain’s Red Electrica, blaming a lack of investment in the country. Bolivia’s leftist President Evo Morales ordered the army to take over the Cochabamba headquarters of the power transmission company known as TDE. The move came just two weeks after Argentina [...]
Investors flee Eurozone as crisis deepens May 1, 2012 INVESTORS renewed their flight from the troubled Eurozone economies in April, figures revealed yesterday, driving up peripheral governments’ borrowing costs. Surveys of 55 leading investment houses in the US, Europe, UK and Japan showed holdings of Eurozone bonds in balanced portfolios fell to 24.5 per cent, compared with 26 per cent in March and substantially [...]
Shares in News Corp rise while Murdoch slated May 1, 2012 AS MPs in London produced the most damning report so far of Rupert Murdoch’s stewardship of his UK newspapers, shares of his global media group somewhat perversely rose. The Commons culture, media and sports committee yesterday concluded that Rupert Murdoch and his son James exhibited a “wilful” blindness towards phone-hacking at the News of the [...]
