Hackers under suspicion for Amazon crash December 12, 2010 WEB giant Amazon last night became the latest suspected victim of a cyber attack by supporters of WikiLeaks. The firm’s website was out of action for more than half an hour during one of the most lucrative shopping days in the run-up to Christmas. The firm’s operations in the UK, France, Germany and Spain were [...]
Italian vote spooks bonds December 12, 2010 THE prospect of political turmoil in Italy is spooking sovereign debt markets, pushing the yield on Italian bonds back towards the highs seen just before Ireland agreed to apply for a bailout. With Italian prime minister Silvio Berlusconi facing a no-confidence vote tomorrow after thousands came out in protest against him over the weekend, investors [...]
Roger Carr backs 50p tax rate for high earners – for now December 12, 2010 ROGER Carr, the new president of the CBI, has said that, on a personal basis, he backs the 50p tax rate for higher earners at the present time. Carr, speaking to City A.M. yesterday, said that, like most business people, he wanted lower taxes eventually to encourage more people to be entrepreneurial. But that during [...]
Bank exposure to Ireland and southern Eurozone above forecast December 12, 2010 BANKS’ total exposure to Ireland and the southern rim of the Eurozone in the second was greater than previously thought, according to data from the Bank for International Settlements published yesterday. The data showed UK banks had the highest exposure to Ireland at the end of the second quarter. UK banks’ exposure was $187.5bn (£119bn), [...]
CBI wants a smoother run to retirement December 12, 2010 THE Confederation of British Industry has called on government to answer businesses’ concerns over scrapping the UK’s default retirement age of 65. Businesses fear the plans will force them to “retire” employees through performance-based dismissal – a long and demoralising process that could cause tribunal claims to soar. The CBI has proposed five changes to [...]
Iceland Foods could be target for Middle Eastern consortium December 12, 2010 GROCERY giant Iceland is a potential target for a powerful consortium of Middle Eastern businessmen who are interested in snapping up the assets of failed Icelandic banks Landsbanki and Glitnir. The two banks own 76 per cent of the food chain, which could become the target of a bidding war. The firm’s management already have [...]
General Electric set to agree bid for UK services firm Wellstream December 12, 2010 US conglomerate General Electric (GE) is said to have agreed a £755m-plus takeover of the UK oil and gas services group Wellstream. Wellstream previously rejected GE’s offer of 750p, which valued the UK firm at £755m, as too low. However, the latest deal, agreed in the last few days, is reportedly higher than 750p a [...]
Transfield makes £358m takeover bid December 12, 2010 THE AUSTRALIAN contractor Transfield Services plans to buy Easternwell, a well services business, for $566m (£358m) and will sell new shares to help fund more than half the deal. The acquisition of the well servicing and construction firm will give Transfield more high-value work, the company said early today. Easternwell works in the mining, oil [...]
BHP Billiton tried to block Rio’s China deal, says cable December 12, 2010 MINING firm BHP Billiton pressured the Australian government to prevent rival Rio Tinto teaming up with Chinese company Chinalco, according to a diplomatic cable released to the Australian media at the weekend. The country’s then-treasurer Wayne Swan told US diplomats last year that BHP had lobbied the government to delay any decision on the $19.5bn [...]
Retailers expect a merrier Christmas December 12, 2010 RETAILERS are expecting a more prosperous Christmas than last year – fuelled by shoppers buying goods ahead of the looming VAT hike in January. Almost two thirds of traders said they expected sales to be at least the same or better than last year, according to a survey by the British Retail Consortium (BRC). Stores [...]
