EU to cap roaming charges July 3, 2011 The EU is set to introduce a slew of price caps on mobile phone roaming charges this week. In plans to be unveiled on Wednesday, the European Commission will set out a programme to bring prices for domestic and international calls, data downloads and text messages to roughly the same levels as one another by [...]
Paragon eyes Northern Rock July 3, 2011 MORTGAGE lender Paragon has emerged as a surprise contender to buy Northern Rock. It is understood Paragon has requested documentation relating to the sale with a view to making an offer. The sale is expected to return around £1bn of the £1.4bn invested in the failed institution by the taxpayer. Paragon joins Coventry building society, [...]
Nasdaq considers approach for London Stock Exchange July 3, 2011 NASDAQ, the US bourse, is understood to be considering a bid for the London Stock Exchange. The LSE became a potential target for Nasdaq chief Bob Greifeld after it failed to tie-up an agreed merger with Toronto bourse operator TMX Group. Greifeld is understood to have asked his senior executives to look at putting together [...]
EU: Greece must accept limits on sovereignty for €12bn in aid July 3, 2011 GREECE has been warned that it faces an era of “massively limited” sovereignty in return for the bailout cash that will ward off a disorderly bankruptcy this summer. Eurogroup chairman Jean-Claude Juncker said that in return for the EU signing off on Greece’s €12bn (£10.8bn) in aid, which was rubber-stamped on Saturday night, Athens should [...]
FIRST FEMALE LEADER FOR THAILAND July 3, 2011 THAILAND voted in its first female leader last night. Yingluck Shinawatra, the sister of former Thai Prime Minister and Manchester City owner Thaksin Shinawatra – who was toppled in a bloodless coup in 2006 – was on course to win an outright majority of 262. Outgoing Prime Minister Abhisit Vejjajiva conceded defeat.
Four Seasons eyes Southern Cross homes July 3, 2011 FOUR Seasons is to take over 45 of the homes currently being run by the UK’s biggest care home provider, Southern Cross, with plans to keep them open after a revamp. Four Seasons, which runs a care homes business alongside its hotel chain, currently leases the 45 homes to the struggling Southern Cross, which is [...]
Government holds talks over revitalising flat IPO market July 3, 2011 CITY AT WAR HERMES, the investment house, has held discussions with the government over the way banks are paid for managing stock market floats. The investor wants a portion of the fees paid to banks to be withheld for several years and released only if the flotation is deemed a success. The meetings with the [...]
Investors to vote against 3i chief July 3, 2011 SEVERAL top investors in private equity firm 3i are planning to vote against re-electing the company’s chief executive Michael Queen. It is understood 3i shareholders including Schroders, BlackRock and Scottish Widows Investment Partnership are planning to abstain or vote against Queen’s re-election, after they said he had rejected demands to return cash to investors. A [...]
AIM recovery hits the buffers July 3, 2011 THE RECOVERY of London’s alternative investment market (AIM) has been knocked off course for the second quarter in a row as the number of companies delisting jumped 50 per cent, research by accountancy firm UHY Hacker Young finds. Forty-two companies left AIM in the second quarter of this year, up from 28 in the first [...]
City: government should review cuts to defence budget in light of Libya conflict July 3, 2011 VOICE OF THE CITY THE government should have taken more account of the cost of going to war in Libya and must now review its plans to cut defence spending, according to the City A.M./PoliticsHome Voice of the City Panel. Although a majority of panellists (63 per cent) thought the government was right to go [...]
