Greencore seeks bid partner February 17, 2011 GREENCORE has leapt back into the Northern Foods fight, after meeting with the Northern board to warn them of a further bid backed by private equity, people familiar with the situation said yesterday. Greencore has kept the identity of its potential private equity partner close to its chest, refusing to tell even the Northern board [...]
ALSO OUT THIS WEEKEND February 17, 2011 FILM BIG MOMMA’S: LIKE FATHER, LIKE SON Martin Lawrence wheels out his fat suit once more. CONFESSION Japanese psychological drama about a vengeful bereaved mother. JUSTIN BIEBER: NEVER SAY NEVER (3D) Never. Never never never never never. In a million years. DVD THE SOCIAL NETWORK The founding of Facebook, one of last year’s best. RED [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 17, 2011 FINANCIAL TIMES BALLS WARNS KING ON BANK CREDIBILITY Ed Balls, shadow chancellor, has criticised Mervyn King, Bank of England governor, saying he should step out of the political arena and stop tying his credibility to the coalition’s “extreme” deficit-reduction plans. In an interview with the Financial Times, Balls drew comparisons between King’s stance and the [...]
BP spill could have been avoided February 17, 2011 BP had workers on the doomed Deepwater Horizon rig who could have prevented the missteps that led to the massive Gulf of Mexico oil spill, but they were not consulted, the White House oil spill commission said yesterday. In an expanded report on the causes of the BP drilling disaster that killed 11 workers and [...]
Landis+Gyr hires CS and Lazard February 17, 2011 Swiss smart meter company Landis+Gyr has hired Credit Suisse and Lazard Ltd to advise on a sale of the company, people familiar with the matter said yesterday. Landis+Gyr, which could be worth well over $1bn, is expected to draw interest from multi-industry conglomerates such as General Electric, Danaher, Johnson Controls and Honeywell International, as well [...]
Sentance hits out at Bank over inflation February 17, 2011 PRIOR warnings over spiralling inflation are “being borne out by events,” according to Bank of England rate setter Andrew Sentance, who yesterday accused his Bank colleagues of seriously understating the threat of rising prices. Sentance’s fiercely hawkish words preceded a rise in sterling, also aided by a positive business survey for the UK’s thriving manufacturing [...]
Bahrain chaos sends oil up February 17, 2011 FOUR people have been killed in Bahrain and 230 injured as the military took control of the kingdom’s capital, Manama, in a violent crackdown on widespread unrest. The chaos sent the price of Brent crude oil to a 28-month high of $104 a barrel yesterday, while gold also rallied. Following Egyptian protesters’ successful removal of President [...]
UK bankers flee to Switzerland to avoid taxes February 17, 2011 BRITISH bankers migrating to Switzerland surged by almost a third last year, as its low personal and business taxes lured workers to the alpine territory. A total of 383 British citizens working in banking and financial services moved to Switzerland in 2010 – marking a 28 per cent increase on 2009, according to official figures [...]
New regulator draws on old hands for external members February 17, 2011 THE government yesterday appointed four external members to the board of a new regulator that is meant to replace the FSA and prevent future financial crashes – the Financial Policy Committee (FPC). It also released a new consultation paper on the committee that some said showed it had scaled down its ambitions for the regulator and [...]
NEW COMMITTEE: THE BASICS February 17, 2011 Q.WHAT IS THE FINANCIAL POLICY COMMITTEE (FPC)? A.The Financial Policy Committee is one of three bodies the coalition government is creating to replace the Financial Services Authority (FSA) and the tripartite regulatory system. The new system will be introduced in 2013, when the FPC will sit inside the Bank of England, opposite the Monetary Policy Committee. It [...]
