Bankruptcy of Lehman ends March 6, 2012 THE RECORD $639bn (£406.8bn) bankruptcy of Lehman Brothers ended yesterday, clearing the way for it to start distributing about $65bn to creditors starting on 17 April, court documents show. Lehman has said that it expects that first group of payments to creditors to be at least $10bn. Lehman, now a small fraction of its former [...]
New FSA rules add £3bn cost to PPI scandal March 6, 2012 BANKS could face £3bn in further costs from mis-selling payment protection insurance (PPI) after the FSA hit them with new guidelines saying they must write to every customer who could potentially be affected. That means lenders will now have to go back through over 16m policies worth £17bn sold over the last seven years and [...]
Alliance Trust raises dividend despite year of global turmoil March 6, 2012 THE head of Alliance Trust said she had witnessed a “perfect storm” in the global economy as the firm offered its largest dividend increase in 20 years. Katherine Garrett-Cox, chief executive, said equity markets remain “as challenging as at any time in generations”. “We have witnessed a perfect storm created by the global financial crisis [...]
Essar and Cairn expected to lose their places in FTSE 100 March 6, 2012 ENERGY firms Essar and Cairn look set to crash out of the FTSE 100 in next week’s index reshuffle, based on their closing prices yesterday. Essar, which has seen its share price slump nearly 60 per cent in the last three months on worries about tax and delays at its Indian plants, fell more than [...]
Hoddle keen on making a sensational Blues return March 6, 2012 Former Chelsea boss ready to end six-year managerial exile and says club should appoint an Englishman FORMER England and Chelsea manager Glenn Hoddle is desperate to seal a dramatic return to Stamford Bridge as Andre Villas-Boas’s successor and has urged the club to break with tradition and employ an Englishman. Villas-Boas became the sixth managerial [...]
Chelsea off to winning start under Di Matteo March 6, 2012 BIRMINGHAM 0 vs CHELSEA 2 CHELSEA caretaker manager Roberto di Matteo dedicated last night’s FA Cup fifth round replay victory over Birmingham to the man he replaced, Andre Villas-Boas. Two of the now departed Portugueses summer signings, Juan Mata and Raul Meireles, scored the second half goals which guaranteed his former club a home tie in [...]
Gunners run out of ammunition to finish off Milan March 6, 2012 Heroic comeback falls short and Wenger hopes league form won’t be affected by near miss ARSENAL 3 vs AC MILAN 0 PROUD manager Arsene Wenger hailed Arsenal’s indefatigable spirit after they came within a whisker of the biggest comeback in Champions League history — but warned them not to let the near miss affect their [...]
Moody sad as injuries end career March 6, 2012 FORMER England captain and World Cup winner Lewis Moody has admitted his “great sadness” after accepting defeat in his battle with injury and retiring from the game. The 33-year-old, who called time on his 71-cap international career in October, had been striving to recover from a December shoulder operation. British and Irish Lion Moody won [...]
Sarries pair spar over fly-half spot March 6, 2012 ENGLAND head coach Stuart Lancaster faces a fly-half dilemma over Saracens team-mates Owen Farrell and Charlie Hodgson after Leicester’s Toby Flood was ruled out of Sunday’s Six Nations match in France. Flood was last night released from the squad for his club’s LV= Cup semi-final against Bath on Saturday. That leaves Lancaster mulling whether to [...]
Long Run fitness doubts quashed by Henderson March 6, 2012 TRAINER Nicky Henderson has dismissed suggestions that defending champion Long Run has joined rival Kauto Star as a major doubt for next week’s Cheltenham Gold Cup. It had been claimed that the seven-year-old was coughing, but Henderson insisted his charge is fine and working away as normal. “The horse is going out to work now. [...]
