Google faces EU anti-trust investigation November 30, 2010 THE EU has launched a formal investigation into Google after a series of anti-trust complaints. A number of competitors have complained that Google bumps them down its search rankings in order to maintain its market dominance. A German firm owned by arch rival Microsoft has also complained about Google’s advertising terms and conditions. Google denies [...]
Tax blitz on strong lager November 30, 2010 SUPER strength lager will be hammered by higher taxes, Downing Street said yesterday. Beer containing more than 7.5 per cent alcohol will face extra duties from autumn 2011. The March budget is expected to reveal the details. The government will also look to reduce tax on beers that contain less than 2.8 per cent alcohol. [...]
CITY VIEWS: WILL TAXING BEER REDUCE BINGE DRINKING? November 30, 2010 GRAEME MATTHEWS | SYTNER GROUP “No – personally I believe that would not affect the supermarkets and other sellers. You can buy champagne for £15 a bottle at the moment – at the end of the day the consumer is the one that controls the market. And any tax will only really hit the minority [...]
No let-up for Londoners as snow and frost cause chaos November 30, 2010 LONDONERS are expected to face another day of travel mayhem today, with the snowy weather forecast to continue until the end of the week. Transport for London said last night that no disruption to the Tube service was currently forecast, but conditions could change overnight. London Overground trains were disrupted yesterday and are unlikely to [...]
Xcite Energy sets up share rights plan November 30, 2010 NORTH sea oilfield developer Xcite Energy yesterday revealed a defensive shareholder rights plan to ensure existing company owners can repel a hostile takeover bid if needed. The plan allows existing shareholders to buy new Xcite shares equal to the amount they already own at a substantial discount if another party tries to acquire 20 per [...]
Gazprom and Shell put differences aside with new cooperation pact November 30, 2010 RUSSIA’s state-run gas firm Gazprom and Royal Dutch Shell yesterday signed an agreement to work together – despite an acrimonious dispute over the Sakhalin-2 field. The two gas giants have now agreed to cooperate on exploring for oil in western Siberia and Russia’s Far East, as well as on distribution projects in Europe. Only four [...]
Balfour Beatty launches £1bn fund November 30, 2010 Construction firm Balfour Beatty is in the early stages of diversifying into fund management with plans to set up a £1bn infrastructure fund. The new fund, which Balfour itself will invest in, will be headed by Rob Gregor, formerly head of European infrastructure at AMP Capital Investors, and be chaired by Andy Friend, formerly chief [...]
China boost for Morgan Stanley November 30, 2010 Morgan Stanley yesterday received long-awaited Chinese government approval to sell its 34.3 per cent stake in China International Capital Corp (CICC), paving the way for the US group to set up a fresh venture in the country. China’s securities regulator said it had approved a transfer of more than five per cent of CICC shares. [...]
Electra plans £100m bond offering November 30, 2010 FTSE-listed investment trust Electra Private Equity said yesterday that its full-year net asset value had risen 19 per cent to a record 2,050p, driven by asset sales and the increased valuation of existing portfolio companies, and it launched a bond offering to raise £100m that it said would enable it to further capitalise on buying [...]
AIG returns to debt markets November 30, 2010 Bailed-out insurer American International Group (AIG) returned to the debt market yesterday after more than a two-year absence, offering a large premium to attract investors as it works to shed government support. AIG sold $500m in January 2014 and $1.5bn in December 2020 senior unsecured notes.
