Jobs boost as Nissan pledges £127m for UK April 10, 2012 DAVID Cameron received a boost to his handling of the economy yesterday when Nissan revealed plans to invest £127m and create more than 1,000 jobs by building a new hatchback in Britain. Cameron, currently on a trade mission to Japan and south east Asia, hailed the move as a “vote of confidence” in the skills [...]
Shareholder group rejects new directors at shamed Olympus April 10, 2012 THE RECOVERY effort at scandal-hit technology firm Olympus suffered another blow yesterday when a major shareholder advisory firm urged investors to reject the appointment of the proposed new chairman and president. ISS Proxy Advisory Services said would-be president Hiroyuki Sasa lacked the right qualifications and Yasuyuki Kimoto, lined up to be head of the board, [...]
Bain Capital looks to raise up to $8bn in its latest buyout fund April 10, 2012 BAIN Capital is considering raising $6bn to $8bn for a new global buyout fund and offering investors up to three options on fees it charges to manage the money, according to two people with direct knowledge of the matter. Bain, once headed by Republican US presidential candidate Mitt Romney and still regarded as one of [...]
UK CAN EXTRADITE ABU HAMZA FOR TRIAL April 10, 2012 BRITAIN can extradite its most notorious Islamist cleric to the US to stand trial on charges that he supported al Qaeda and aided a fatal kidnapping in Yemen, the European Court of Human Rights ruled yesterday. Egyptian-born Abu Hamza al-Masri faces a sentence of over 100 years in high-security US prisons if found guilty.
Cobham moves for Thrane with new £270m bid offer April 10, 2012 AVIATION electronics group Cobham yesterday renewed a £270m bid for Danish rival Thrane & Thrane less than a month after withdrawing it. The company moved after the resignation of satellite equipment maker Thrane’s chairman Waldemar Schmidt. He has been replaced by long-time board member Morten Eldrup-Jorgense after a string of boardroom disputes over the direction [...]
Well-timed campaigns drive buzz for home improvement stores April 10, 2012 BANK holidays often see Britons take to our backyards, kitchens and bathrooms in an attempt at a bit of DIY. So it is no surprise that two of the biggest players in that market, B&Q and Wickes, looked to capitalise on this time of year with their pre-Easter advertising campaigns. B&Q’s “I did that” campaign, [...]
ADVISERS GLEACHER SHACKLOCK April 10, 2012 Timothy Shacklock is leading the team at Gleacher Shacklock which is advising Cobham. The company specialises in corporate mergers, acquisitions and strategy. Shacklock, the former deputy chairman of Dresdner Kleinwort Wasserstein, founded Gleacher Shacklock in 2003. He has advised on a number of Europe’s most prominent corporate finance transactions, including the reorganisation of British Aerospace [...]
Vedanta hit by a slowdown in iron ore output April 10, 2012 MINER Vedanta yesterday posted a drop in full-year iron ore output, hit by a ban on mining in a southern Indian state where it has major operations. The FTSE 100 listed company said its iron ore production over the year to the end of March fell to 13.8m tonnes compared with 18.8m a year ago, [...]
Randgold shares bounce back on Mali deal April 10, 2012 SHARES in gold miner Randgold Resources yesterday closed up five per cent thanks to a political settlement in Mali, following a coup which threatened the company’s operations there. The company’s stock surged by as much as nine per cent following the settlement over the bank holiday weekend. Its price had plunged by more than 20 [...]
MCCLUSKEY JOINS FUEL STRIKE NEGOTIATIONS April 10, 2012 LEN McCluskey, the general secretary of the Unite trade union, yesterday joined talks aimed at resolving the fuel tanker drivers’ dispute, which resumed at the Acas conciliation service. Unite is seeking minimum standards over safety and training, as well as an agreement on transferring drivers’ pensions.
