Disney to build park in Shanghai April 10, 2011 Work has started on Disney’s first amusement park in mainland China. The park in Shanghai is expected to cost £2.3bn to build and is due to open by 2016. The attraction, on the site of the 2010 Expo, will be home to the Shanghai Disneyland, two hotels, a lake and a shopping mall. The entertainment [...]
Troika set to visit Portugal April 10, 2011 OFFICIALS from the European Commission, European Central Bank and IMF will visit Lisbon today for talks on an €80bn (£70.7bn) bailout for Portugal, a commission spokesman said at the weekend. The mission will lay the groundwork for political-level talks between the so-called “troika” and Portugal’s political parties the following week, the spokesman said. The experts [...]
Obama readies his plan to cut deficit April 10, 2011 US PRESIDENT Barack Obama will offer a long-term plan for deficit reduction this week in preparation for bigger US spending battles ahead, the White House said yesterday. Senior White House adviser David Plouffe said Obama would explore savings in defence spending and the popular Medicare and Medicaid health programmes for the elderly and poor as [...]
Just half of all Germans back Portugal rescue April 10, 2011 A NARROW majority of Germans is in favour of the EU’s multi-billion-euro bailout package for crisis-hit Portugal, a poll suggested yesterday, with 90 per cent believing it would not be the last. A poll for a German newspaper showed 50 per cent agreed with the EU’s decision to bail out debt-wracked Portugal to the tune [...]
Triton buys German engineer April 10, 2011 German private equity firm Triton has snapped up engineering firm Dywidag Systems International (DSI) for around €370m (£327m). Dywidag, which worked on Wembley Stadium, has been owned by lenders Barclays and Bank of America Merrill Lynch since a debt for equity swap last year. Triton and Dywidag signed a sale and purchase agreement at the start [...]
Splits emerge in LSE probe April 10, 2011 A Canadian committee investigating the proposed merger between the London Stock Exchange and its Canadian rival TMX Group has delayed publishing its report amid disagreements between the panel members. Gilles Bisson, a New Democratic Party member of the provincial parliament, is expected to release his own report opposing the committee’s recommendations for the international tie-in. [...]
Hurdle for Barclays’ hotel bid April 10, 2011 Attempts by the Barclay brothers to take control of the Maybourne Hotel Group have hit a snag, after a Malaysian sovereign wealth fund bought up debts linked to the firm. 1Malaysia Development Fund is thought to have paid £50m for debts held by the Irish government against shares owned by one of Maybourne’s biggest investors, [...]
Skrill to test IPO market April 10, 2011 ONLINE payments group Skrill will this week test market appetite for initial public offerings (IPOs), following a tumultuous period for company listings. Management at the firm, which operates as Moneybookers and has been cast as a European rival to PayPal, is in the final stages of drumming up interest in the listing. Sources close to [...]
Parents face huge bank holiday cost April 10, 2011 THE ROYAL wedding bank holiday will cost parents a combined £206m for extra childcare, research out today reveals. This year’s extended Easter break and back-to-back bank holidays will lead to £3.5bn in child-related costs, said insurer Liverpool Victoria (LV). “With an average 13 weeks of school holidays a year, parents will feel pressured to find [...]
888 chief quits amid deal talks April 10, 2011 THE CHIEF executive of online gaming site 888.com has quit, as protracted takeover talks with high street bookmaker Ladbrokes continue following five months of negotiations. Gigi Levy, who has been in charge at 888.com since January 2007, is stepping down to “pursue other interests”, the firm said. He will continue to commit half of his [...]
