ICB has to strike a difficult balance April 10, 2011 With such a broad mandate to recommend how to promote greater financial stability and competition within UK banking, the Independent Commission on Banking has a wide range of options to choose from. And while the level of concern within UK-based banks is understandable, it is important to remember that the paper is merely an interim [...]
City’s competitive edge is at stake April 10, 2011 Hands off, Mayor Bloomberg: Barclays is ours. And so is HSBC. The feverish media speculation even has Nicholas Sarkozy in on the act, trying to lure the headquarters of banks over the Channel. London obviously has no God-given right to be the banking headquarters rather than New York or Hong Kong or Paris; we have [...]
Glencore hunt for chairman intensifies April 10, 2011 GLENCORE, the world’s biggest commodities trader, is narrowing down its list of candidates to take over as chairman of the company after its flotation. Simon Murray, chairman of Asia-Pacific investment firm GEMS and a director on the board of Essar Energy and Richemont, is one of the contenders, with former Lazard International chairman Ken Costa also [...]
BHP Billiton eyes Shell deal to buy Australian energy firm April 10, 2011 BHP Billiton is plotting a £30bn takeover of Australian energy firm Woodside Petroleum, in a strategic switch into oil and gas by the world’s largest miner. The Anglo-Australian firm is said to be in talks with Royal Dutch Shell, Woodside’s largest shareholder, over a deal to buy its stake to mount a takeover challenge. Led [...]
BHP would be better off shopping abroad than plotting Aussie deal April 10, 2011 JUST two months ago BHP Billiton used its impressive half-year results to offer shareholders a $10bn (£6.1bn) buyback. Now it seems to be on the acquisition trail again – so no one could blame investors for being a little confused. BHP’s cash pile has been steadily increasing as recent acquisition attempts failed – despite fees [...]
EGYPTIAN PROSECUTORS SUMMON MUBARAK April 10, 2011 Egypt’s public prosecutor yesterday summoned former president Hosni Mubarak as part of probes into the killing of protesters and the embezzlement of public funds, but the ousted Mubarak said allegations against him of wrongdoing were lies. Mubarak’s sons Gamal and Alaa were also summoned in the embezzlement probe
Gadaffi said to accept peace plan April 10, 2011 Muammar Gaddafi has accepted a roadmap for ending the conflict in Libya, South African president Jacob Zuma said yesterday after leading a delegation of African leaders at talks in Tripoli. “I have some commitment which is compelling me to leave now but we have completed our mission with the brother leader [Gaddafi],” Zuma said after [...]
Global military spending rises April 10, 2011 Worldwide military spending edged up in 2010 to a record $1.6 trillion (£977bn), according to research by the Stockholm International Peace Research Institute out today. Global spending rose 1.3 per cent in real terms, a slowdown from 5.9 per cent the year before as the economic downturn hit military spending, the report said.
Hayward role at TNK-BP in doubt April 10, 2011 Embattled former BP boss Tony Hayward’s place on the board of the firm’s Russian joint venture TNK-BP is in doubt , with the board understood to be considering his position. If he is ousted from the role it would cut his last tie to the company he headed up for three years. He was criticised [...]
Peel must up bid to secure film business April 10, 2011 Peel Holdings, the majority shareholder in Pinewood Shepperton, will be forced to pay substantially more than its initial 190p per share approach for the film studio, according to a source close to the deal. On Friday, Pinewood disclosed that it had received an offer of 190p per share from Peel Holdings, which owns 29.7 per [...]
