AnaCap eyes RBS branch sale November 22, 2012 ANACAP Financial Partners, a private equity backer of Aldermore Bank, has emerged as a new bidder in the race to snap up the 316 branches that RBS is being forced to sell. AnaCap is understood to have indicated to RBS that it is interested. The European Commission is forcing RBS to sell off the branches [...]
BP formalises tie-up terms November 22, 2012 OIL MAJOR BP, Rosneft and its parent Rosneftgaz yesterday formalised terms for their tie-up. The deal, announced last month, involves BP selling its 50 per cent stake in TNK-BP to Kremlin-controlled Rosneft, in exchange for $12.3bn (£7.7bn) and a 18.5 per cent stake in the state-backed producer. The Russian government approved BP’s purchase from Rosneftgaz [...]
Do you think David Cameron should veto the EU budget? November 22, 2012 JOHN BLOOR ALIUM No. It will isolate us from Europe at a crucial time and I still believe we need to embrace them” DEREK MILLER RETIRED CIVIL SERVANT Yes. The budget as it stands is ridiculous in the current environment considering that the EU hasn’t exactly been doing very well.” SEBASTIAN MOORE SETEL Yes. At [...]
Cobham extends BHP contract November 22, 2012 Defence technology group Cobham has won a A$65m (£42m) contract extension with BHP Billiton to transport miners in and out of remote mines in Australia. Cobham has provided services to companies operating in the Pilbara region since 2003. Earlier this month, Cobham issued a profit warning due to declining revenues from the US defence market. [...]
Deutsche chief criticised November 22, 2012 German politicians accused Deutsche Bank’s co-CEO Anshu Jain of “chickening out” after the bank decided to send his chief compliance officer in his place to a parliamentary hearing on Libor manipulation next week. “Mr Jain is chickening out,” said Green party politician Gerhard Schick, and it is “unacceptable”. Deutsche Bank will instead send Stephan Leithner.
EU signals nod for telecoms deal November 22, 2012 European Union anti-trust regulators are set to brief national authorities next week on Hutchison’s planned takeover of Orange Austria, in a move likely to signal EU approval for the deal. The Austrian competition regulator, the BWB, said it and all the other EU national regulators had been invited to a meeting in Brussels on 27 [...]
City lauds DMGT Northcliffe sale as shares leap November 22, 2012 DAILY Mail & General Trust (DMGT) saw shares soar yesterday as the publisher reported a 10 per cent rise in annual profits. The company, best known for owning the Daily Mail newspaper, now sees four-fifths of its profit in its business-to-business (B2B) publishing division, after it sold off its regional newspaper division on Wednesday. The [...]
Panasonic and Sony struck by Fitch downgrade to junk status November 22, 2012 RATINGS agency Fitch downgraded the debt ratings of technology giants Sony and Panasonic to “junk” status, yesterday, citing weakness in their consumer electronics and TV operations and further diminishing the lustre of the once-great Japanese brands. The cut to below investment grade, the first by a ratings firm, comes as the floundering companies face weak [...]
Ofcom announces proposals for white space mobile broadband November 22, 2012 CITY-WIDE Wi-Fi networks could be launched by the end of next year, the communications regulator said yesterday, as it published proposals to free up unused parts of the airwaves for internet signals. Ofcom said that it was opening a consultation on “white spaces” – the gaps in between bands of spectrum used to broadcast TV. [...]
Market falls in love with Cupid as cold feet over growth ends November 22, 2012 INVESTORS cuddled up to dating website operator Cupid yesterday, with news that the company was proceeding ahead of expectations sending its shares up 5.5 per cent. The company – which is rumoured to be a takeover target for US dating giant Match.com – said recent acquisitions were trading in line with plans, and that revenues [...]
