Police consider Huhne claims May 15, 2011 POLICE will this week decide whether to launch an investigation into claims that Chris Huhne asked someone else to take his penalty points for a speeding offence in 2003. Backbench Labour MP Simon Danczuk has lodged a formal police complaint over the allegations, after two Sunday newspapers claimed to have heard a tape recording in [...]
Dominic Strauss-Kahn: a glittering career dogged by controversy May 15, 2011 DOMINIQUE Strauss-Kahn, the head of the IMF who was arrested on a plane in Washington over sex allegations, has experienced more highs and lows than most. He is seen as a political maverick, whose shrewd instincts in guiding the IMF through the treacherous waters of the post-recession global economy have gained him international plaudits. His [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 15, 2011 FINANCIAL TIMES US TREASURY URGES DEBT ACTION Senior Treasury department officials have issued their starkest warnings yet that if Congress does not quickly raise the US debt limit to avoid a default, investors will punish the country and further damage its fiscal position. Neal Wolin, deputy Treasury secretary said: “In the current context of the [...]
BP faces share swap deadline May 15, 2011 BP will struggle to meet a deadline to complete its £9bn share swap with Russian group Rosneft, leaving the companies to agree a second extension or allow the deal to fall apart. BP Chief Executive Bob Dudley, who has been criticised by investors for the difficulties encountered in executing the deal, said he was optimistic [...]
Benefit claimants forced to work May 15, 2011 Jobseekers can from today be forced into mandatory work programmes in a bid to cut the number of people claiming benefits. Jobcentre Plus advisers can refer anyone they feel requires “additional support”. Placements – which will include tasks such as maintenance work for housing residents, renovating and recycling old furniture – will last for four [...]
Kesa looks at Comet sell-off May 15, 2011 KESA Electricals has held meetings with activist shareholder Knight Vinke to discuss selling or restructuring its struggling high street retailer Comet, several sources confirmed yesterday. Kesa, which was spun out of the Kingfisher retail group in 2003, could also end up de-listing from the FTSE 250 to leave it solely listed in France, its main [...]
Outlook for electrical retailers is bleak May 15, 2011 AU revoir Britain, vive la France – that seems to be the prevailing view at Kesa, where management has asked bankers to put Comet, the underperforming British chain, on the block. That will allow Kesa to concentrate on the more profitable French business Darty, or so the theory goes. There is no doubt that Knight [...]
Jeweller Signet weighs sale of its British division May 15, 2011 THE WORLD’S largest jewellery retailer Signet is considering a sale of its underperforming UK division. The international firm, which owns H Samuel and Ernest Jones, is said to be looking for a buyer. Investment bankers from Lazard are in the early stages of approaching potential bidders. Signet UK could achieve a price of up to [...]
Top 40 young hedge fund stars named May 15, 2011 ROBERT Sorrell, the son of WPP chief executive Sir Martin Sorrell, has been named as one of the brightest people aged under 40 working in the hedge fund industry. The first Financial News 40 under 40 Rising Stars of Hedge Funds rollcall applauds the talents of men and women from all corners of the hedge [...]
France to support keeping UK out of new Greek rescue May 15, 2011 CHANCELLOR George Osborne is counting on the support of France to avoid underwriting a second Greek bailout as he flies to Brussels for a summit of EU finance ministers today. French finance minister Christine Lagarde has said that any second rescue for Athens is likely to involve extending the terms of the first – which [...]
