DSK charges in France dropped October 13, 2011 FRENCH public prosecutors dropped an investigation yesterday into a writer’s accusation of attempted rape against former IMF chief Dominique Strauss-Kahn due to lack of evidence. The Paris public prosecutor’s office said evidence existed suggesting sexual assault but a prosecution on that lesser charge was not possible under the statute of limitations. He was accused by [...]
Gatwick cuts its traffic estimates due to the economic uncertainty October 13, 2011 GATWICK airport said its predicted rate of long-term growth in passenger traffic would be lower than previously expected because of tough economic conditions and an uncertain outlook. Gatwick yesterday started a three-month public consultation on its draft master plan for the airport, looking ahead to 2020. The report also looks at ways of making the [...]
LUKE JOHNSON JOINS METRO BANK BOARD October 13, 2011 METRO Bank has hired Luke Johnson as a non-executive director. Johnson, a private equity investor, currently holds board seats at the Giraffe restaurant group and Patisserie Valerie. Metro Bank opened its first branch last year, and is hoping to crack into the UK retail banking market.
Google sees revenue jump as clicks soar October 13, 2011 GOOGLE delivered another triumphant set of quarterly results yesterday that showed revenues soared to almost $10bn (£6.4bn) as more than 40m people joined its new Google+ social network. Gross revenue from Google’s search advertising reached $9.7bn in the three months to the end of September, a third higher than in the same quarter of 2010. [...]
Joe Lewis pulls takeover offer for troubled M&B October 13, 2011 MAVERICK investor Joe Lewis withdrew his offer for pub chain Mitchells & Butlers yesterday, blaming poor trading and higher risk in the business. Lewis’s investment vehicle Piedmont, M&B’s biggest investor, said it had dropped the informal 230p-per-share bid to buy the company at below its market value. “After careful consideration, Piedmont has decided not to [...]
Glencore nears refinancing deal with Bakries October 13, 2011 LONDON-LISTED commodities trader Glencore is nearing a deal to lend up to $900m (£570m) to Indonesia’s Bakrie Group to help it refinance debt of $1.35bn in exchange for additional marketing rights on coal. Under the refinancing deal, Glencore will have the option of turning the loan into an equity stake in the coal miner Bumi, [...]
Economists: German GDP growth to fall October 13, 2011 A GROUP of top economic institutes slashed their German GDP growth forecasts for 2012 yesterday. The latest prediction is for growth of 0.8 per cent next year – down from two per cent forecast six months ago. The eight institutes – six German, one Swiss and one Austrian – believe the sovereign debt crisis is [...]
Banks need billions – from where? October 13, 2011 EUROPEAN bank analysts are now fully immersed in a game of spot the weakest link, a game that is getting bank chiefs rather hot under the collar. Josef Ackermann, chief of Deutsche Bank, is so incensed that he slammed the EU’s bank recapitalisation plan publicly yesterday. “It’s not the capital resources of banks that are [...]
BERLUSCONI FACES HIS 51ST CONFIDENCE VOTE October 13, 2011 ITALY’S Prime Minister Silvio Berlusconi yesterday called on parliamentarians to back him in a confidence vote, set for this afternoon. “There are no alternatives,” he said. “A government crisis now would be a victory for those who want to see Italy fall into decline.” Yields on 10-yr bonds auctioned yesterday hit 5.8 per cent. The [...]
CITY VIEWS: WILL SILVIO BERLUSCONI STILL BE ITALIAN LEADER IN A YEAR? October 13, 2011 HOWARD RYLES | UNIQUE “Yes, his control over the media will sway public opinion to his favour. His large personality and persuasion abilities will carry him through.” KAREN GRAVES | SCOR UK “Sadly yes, I think all the bad press he has previously had will not make a difference; it will come down to the [...]
