The biggest airline in the United States has the money but not the synergies for a tie-up December 2, 2012 DELTA Air Lines is one of the strongest carriers operating in the US at the moment. Having gone through Chapter 11 bankruptcy protection in 2005 – a trial most American airlines have endured in the past decade – it now boasts quarterly profit that regularly tops $1bn, plus more than $5bn in accessible cash. It [...]
Lawyers warn planned regulations on shadow banks could result in a renewed credit crunch December 2, 2012 INVESTMENT funds and insurers could become a major new source of credit, particularly in the loan-starved European economy – but finance regulators risk choking off the flow of funds with heavy-handed new rules, law firm Allen and Overy warns in a new study published today. The so-called shadow banking sector is made up of financial [...]
Tchenguiz launches hearing against Serious Fraud Office December 2, 2012 PROPERTY magnates Robert and Vincent Tchenguiz will this morning launch their case against the Serious Fraud Office (SFO) for millions of pounds worth of damages following its investigation into the collapse of Icelandic bank Kaupthing. The hearing at the High Court will kick off a 12-month process that is likely to mount political pressure on [...]
Hobbs gets the ladies on board without quotas December 2, 2012 NICKY Dulieu, the boss of fashion retailer Hobbs, has managed to recruit a nearly all-female board since taking up the helm in 2008 but insists that imposing quotas is not the way to increase the number of women in the boardroom. Asked whether she was in favour of quotas, Dulieu told City A.M: “I genuinely [...]
Thomson likely to be News Int publishing boss December 2, 2012 RUPERT Murdoch’s News Corporation is this week expected to unveil a revamped leadership structure with Robert Thomson, former editor of The Times and current managing editor of the Wall Street Journal, as the new boss of its publishing breakaway company. Thomson, who is also editor in chief of Dow Jones & Co, is thought to [...]
Europe’s wealthy firms look to spend on acquisitions in 2013 December 2, 2012 MANY BUSINESSES across the Eurozone are in a better position than their economies and governments, and are looking to spend part of their cash piles on acquisitions over the next year, according to top financiers at Deutsche Bank. Good fundraising conditions for healthy firms mean businesses have the opportunity to snap up other firms or [...]
Geithner predicts Republicans will allow higher US tax rates December 2, 2012 US PRESIDENT Barack Obama’s top fiscal negotiator pressed Republicans yesterday to offer specifics on deficit reduction, and predicted they would agree to raise tax rates on the rich to secure a year-end deal to avoid possible economic doom. Treasury secretary Timothy Geithner said “I can’t promise” that the US won’t go over a looming fiscal [...]
Virgin Media in plea to modify internet fund December 2, 2012 AN OVERHAUL of the government’s multi-million pound superfast broadband initiative could be on the cards under Maria Miller, the new culture secretary. Virgin Media is today writing to Miller with a list of recommendations for the government’s criticised £150m urban broadband fund – which was set up by George Osborne to boost internet speeds for [...]
Time running short for deal to extend West Coast rail contract December 2, 2012 VIRGIN Trains and the Department for Transport are set to finally sign a deal to give the rail operator a temporary extension to its West Coast Main Line franchise this week. The franchise contract is due to run out on Sunday, and both sides have agreed in principle that Virgin can run the route for [...]
Happy Bday SMS! Txts turn 20 2day but less msgs being sent December 2, 2012 TWENTY years ago today the first text message – “Merry Christmas” – was sent. The greeting was sent by Neil Papworth, an engineer working for Sema Group in the UK and a member of a team developing SMS software for Vodafone. Today, upwards of seven trillion text messages are sent every year, more than 200,000 [...]
