Citigroup hit by US cyber attack April 3, 2011 THE e-mails and names of customers of Citigroup, Walgreen and other large US companies were exposed in a massive and growing data breach, after a computer hacker penetrated online marketer Epsilon. In what could be one of the biggest such breaches in US history, diverse companies that did business with Epsilon stepped forward over the [...]
Glencore gets a green light in Hong Kong April 3, 2011 HONG Kong has given Glencore permission for the Asian leg of its float, according to sources close to the commodities giant. The commodities and trading giant, which is valued at $60bn (£37bn), received a letter on Friday giving it the go-ahead for its Hong Kong listing as part of a dual London-Hong Kong listing plan [...]
Richard Desmond mulls Mail merger April 3, 2011 THE owners of the Daily Express and the Daily Mail are said to have held informal talks about a potential merger of the national newspaper titles. According to Sky News, Richard Desmond (r), the chairman of the Express owner, Northern & Shell, and Lord Rothermere, chairman of Daily Mail & General Trust, discussed the idea [...]
SUEK set to join FTSE 100 in June IPO April 3, 2011 RUSSIAN coal giant SUEK is likely to join the FTSE 100 when it floats in a London IPO in June. The group’s intention to tap investors for around $1bn (£623m) this summer was first revealed in City A.M. last Thursday. With a valuation of between $5bn and $10bn, the group – the Siberian Coal Energy Company in [...]
Financial firms say business is back on track April 3, 2011 FINANCIAL services firms have reported business that is only slightly below normal levels for the first time since the financial crisis, a survey reveals today. However, this partly reflects lower expectations of what constitutes “normal trading”, according to PricewaterhouseCoopers (PwC), which conducted the survey alongside the Confederation of British Industry (CBI). New regulation threatens to burden [...]
Ophir Energy plans $2bn London float or stake sale April 3, 2011 AFRICA-focused oil company Ophir Energy, which is backed by Indian steel magnate Lakshmi Mittal, is preparing for a $2bn (£1bn) float in London. The company, which has a portfolio of oil fields across Africa, plans to raise up to $500m by selling a quarter of its shares before the summer to fund the development of [...]
Stalemate in Libya as Gulf markets rally April 3, 2011 KEY oil town Brega was at the centre of clashes in Libya yesterday, as rebels fought Gaddafi’s troops for control of the eastern settlement and coalition warplanes launched targeted attacks. Fighting in Brega has been at a stalemate for several days, with Western air power failing to give insurgents the upper hand in clashes. A [...]
Japan nuclear leaks could take months to halt April 3, 2011 JAPAN’S government yesterday warned that it could take months to stem radiation leaks from the damaged Fukushima Daiichi nuclear plant, as the plant’s operator said attempts to seal the latest reactor leak had so far failed. A crack in the concrete pit at Fukushima’s number 2 reactor was confirmed at the weekend, and radiation readings [...]
M&S to add to retail gloom April 3, 2011 MARKS and Spencer, the retail bellwether, is likely to add to the sense of impending doom on the High Street when it reports a sharp drop in sales later this week. Analysts expect like-for-like sales of general merchandise – which exclude food – to have fallen by a “grisly” six per cent in the fourth [...]
ECB should hike rates – but don’t forget Spain April 3, 2011 It is all but certain that the ECB will raise rates this week. It has been itching to do so for some time. Now that the moment has arrived what will the move actually mean for the Eurozone and the global economy? The simple answer is probably not very much. The move has been well [...]
