Forex swaps debate rages November 30, 2010 PROMINENT asset managers and a key derivatives trade group are urging the US Treasury to exempt foreign exchange swaps and forwards from new derivatives regulations that would require central clearing under a revamp of US financial rules enacted in July. But exchanges that stand to benefit from the shift and two Democratic US senators say [...]
Google could bid up to $6bn for Groupon November 30, 2010 Google is poised to make its biggest ever acquisition, with a bid of up to $6bn (£3.85bn) expected for local advertising website Groupon. The two companies are believed to be negotiating a price somewhere between $5bn (£3.2bn) and $6bn – far ahead of the $3.1bn Google paid for DoubleClick.com and eclipsing the $1.65bn handed over [...]
News Corp is mulling sale of MySpace November 30, 2010 NEWS Corp has admitted it is considering a sale of its embattled MySpace social network after spending millions relaunching it as an entertainment site. Chief operating officer Chase Carey said he would be open to discussions over a sale or partnership, with web giants Yahoo and AOL linked to a deal. It is not clear [...]
WikiLeaks founder says he has explosive bank dossier November 30, 2010 THE founder of WikiLeaks, the website that earlier this week published a raft of damaging diplomatic and military cables, says he is poised to leak tens of thousands of documents he said could take down “one or two” top US banks. Julian Assange would not confirm which banks he has in his sights but has [...]
Telegraph may hide content behind paywall November 30, 2010 Telegraph Media Group could soon hide its free online content behind a paywall. Executives at the Telegraph publisher are drawing up plans to follow Rupert Murdoch’s News International in charging for online content. It is understood the Telegraph will offer a combination of free and paid-for content, although no final decisions have been made. The [...]
Google November 30, 2010 IF GOOGLE pays $6bn for Groupon, it will be a staggering achievement for the start-up’s founders. The firm, which was valued at $1.35bn in Spring of this year, is expected to pull in revenues of $500m this year: that means Google’s offer is worth a staggering twelve times sales. But normal rules don’t apply in [...]
Flybe listing to take off in December November 30, 2010 REGIONAL airline Flybe yesterday announced plans to list in London in December in a bid to raise £60m. The initial public offering (IPO) would value the budget carrier, Europe’s largest regional airline, at about £240m and marks another stride in its ambitious growth strategy. “We are delighted to bring Flybe to the market. The company [...]
Finnair cancels over 300 flights due to strikes November 30, 2010 THE cabin crew at Finnair launched a crippling strike yesterday, prompting Finland’s flag carrier to cancel more than 300 flights and warn it would post another loss this year. Nordic carrier SAS, which owns the Blue1 airline, was also affected. Some 1,800 of Finnair’s and Blue1 cabin crew employees started a strike at 11am after [...]
Spending hits ten-year low in households November 30, 2010 FAMILY spending in the UK has fallen to a ten year low, according to government figures released yesterday. The average weekly spend dipped to £455 per household last year, down from £471 in 2008, said the Office for National Statistics (ONS). The figures reflect households tightening their belts amid recession, as the economy shrunk by [...]
Bernanke says US needs to hire more November 30, 2010 AMERICA faces severe problems if it cannot get more people back to work, the chairman of the Federal Reserve (Fed) argued in a speech last night. Chairman Ben Bernanke warned that “social and economic consequences” make it vital for the US to reduce its level of unemployment. In October unemployment was measured at 9.6 per [...]
