United plans $1bn float in Singapore August 16, 2011 MANCHESTER United is preparing to launch an audacious Singapore float in which it could raise more than £600m. The club’s controversial American owners hope the IPO could value their prized asset at more than £2bn, taking advantage of the huge popularity of the Manchester United brand in the east. It is understood between 20 and [...]
Pandora IPO adviser gets referred to Danish police over disclosure failure August 16, 2011 THE IPO of jewellery maker Pandora came under further attack yesterday when the Danish financial market regulator referred one of its advisers to the police. Denmark’s Financial Supervisory Authority said Nordea Bank Denmark had failed to report the fact that it held a large financial position in Pandora prior to its flotation last October. Nordea [...]
Former Pfizer facility to become enterprise zone August 16, 2011 THE research and development facility that was abandoned by pharmaceutical giant Pfizer will be given enterprise zone status today, in a bid to lure a new high tech firm to the area by offering tax breaks and relaxed planning rules. Pfizer’s Kent base, which has been renamed Discovery Park, was put on the market in [...]
What needs to be done to stop a repeat of last week’s riots? August 16, 2011 THIS week, we’re asking members of our Voice of the City panel what needs to be done to prevent a repeat of last week’s riots. Will the government’s plan for non-military “national service” help repair broken communities, and should convicted rioters be evicted from their council homes or stripped of their benefits? We also want to [...]
Qantas orders $9bn of new plans as it sets up two new airlines in Asia move August 16, 2011 QANTAS Airways is setting up two new airlines in Asia and ordering $9bn (£5.5bn) of new Airbus aircraft as part of a do-or-die makeover to salvage its loss-making international business. Qantas will also cut 1,000 jobs from Australia as it shifts its focus to the world’s fastest-growing aviation market, triggering threats by unions to block [...]
City jobs market shrinks August 16, 2011 THE JOBS market in the City has been left in a dismal state by economic uncertainty coupled with a headcount cull at a number of banks, an employment survey out today claims. Available roles in the financial sector dropped 10 per cent during July, and candidates in the City were fighting for 18 per cent [...]
Dell slashes its revenue forecasts August 16, 2011 DELL slashed its 2012 revenue forecast as the outlook for technology spending this year weakened, sending its shares more than seven per cent lower. The personal computer maker yesterday lowered its estimate for full-year revenue growth to just one to five per cent, from five to nine per cent previously, adding that sales this quarter [...]
More choice for clearing house trades August 16, 2011 EUROPE’S biggest clearing houses will this morning announce plans to offer coordinated four-way clearing to their members, in a move designed to streamline the process and improve competition. EMCF, EuroCCP, LCH Clearnet and SIX x-clear will collaborate to offer a full clearing choice by 1 January 2012, subject to regulatory approval. Full interoperability will be [...]
The former royal PR set to take charge at the IoD August 16, 2011 THE Institute of Directors has appointed Simon Walker as its next director general. Formerly chief executive officer of the British Private Equity and Venture Capital Association, Walker succeeds Miles Templeman, beginning his seven-year term in October. Walker, who brings experience from both business and political sectors, has held senior executive positions at firms such as [...]
Sales fall at Walmart… August 16, 2011 WALMART suffered its ninth consecutive sales fall last quarter despite heavy discounting, as it warned that the uncertain US economic recovery was taking its toll. Same-store sales at Walmart in the US, excluding fuel, were down by 0.9 per cent from a year ago. However, net income rose 5.7 per cent in the second quarter [...]
