Bomb sent to Ackermann December 7, 2011 A LETTER bomb intended for Deutsche Bank’s chief executive Josef Ackermann was found yesterday, prompting the New York Police Department to step up security at the bank’s Manhattan office. The device, discovered in the mail room of Deutsche Bank’s Frankfurt headquarters at around 1pm local time, did not detonate. An x-ray of the package revealed [...]
Warren Buffett buys solar farm December 7, 2011 Warren Buffett’s wind energy company MidAmerican Energy Holdings yesterday announced its plan to purchase the Topaz Solar Farm for over $2bn (£1.27bn). The 550-megawatt photovoltaic power plant, being built in California, will have the capacity to generate enough renewable energy to power approximately 160,000 homes.
LivingSocial finds new funding December 7, 2011 Daily web offer company LivingSocial said it will raise up to $400m in a new funding round, in a move suggesting plans for a public listing will be put on hold at least several months. The funding round gives the company a valuation of around $6bn, a person familiar with the matter said.
London gets derivatives centre December 7, 2011 London has been picked as the home of a new interest rate derivatives repository, bringing a key part of a £356 trillion market to the City. The Depository Trust & Clearing Corporation said its global repository will house data from 15 of the world’s largest traders in a bid to improve transparency in the market.
Weak factory output builds recession risk December 7, 2011 INDUSTRIAL and manufacturing output fell in the UK in October, data from the Office for National Statistics (ONS) revealed yesterday, leading economists to warn that some sectors are falling back into recession. The index of manufacturing fell 0.7 per cent between September and October, bringing annual output growth down to just 0.3 per cent. The [...]
Evershed and New Star settle dispute December 7, 2011 VETERAN fund manager Patrick Evershed has agreed to settle out of court with New Star over bullying allegations. New Star, which was bought out by Henderson in 2009, said “both parties are satisfied with the terms of agreement”, but said that the deal would be kept confidential. It has not admitted liability. Evershed, 70, had [...]
Orange and T-Mobile to spend £1.5bn on beefed-up network December 7, 2011 TELECOMS giant Everything Everywhere yesterday announced a £1.5bn investment in integrating its network and preparing for the UK rollout of superfast 4G services. The expenditure, which will come over the next three years, will help the company, recently formed from Orange and T-Mobile, cope with the explosion in mobile data traffic. The firm says it [...]
Osborne: Eurozone’s plans for balanced budgets are crude December 7, 2011 GEORGE Osborne attacked “crude” Eurozone plans to force countries into balancing budgets yesterday, as MPs grilled him on his Autumn Statement. He defended his own plans to eliminate the UK’s structural deficit in five years time as vital to “maintaining stability,” and said the tweaks he made last week were based on “reasonable forecasts” from [...]
UBS activists hang on after court defeat December 7, 2011 PROTESTERS who took over an abandoned UBS building in the City are set to cling on for several more days despite losing a High Court battle yesterday. The Occupy group said it is taking its fight to the Court of Appeal after a judge threw out its attempt to overturn a possession order, granted to [...]
Bond to stay with Wiggle after Bridgepoint swoops for £180m December 7, 2011 PRIVATE equity house Bridgepoint has won a bidding war to buy Wiggle, the online cycling and sports retailer, for £180m from Isis. The buyout firm completed the deal after an auction process launched last month by Rothschild. Advent, EQT and 3i had been keen on purchasing the company, which is chaired by former Asda boss [...]
