Cavendish hit by GB cycling curse November 19, 2012 CYCLING: Britain’s Mark Cavendish escaped with bruising after a collision with a car while training in Italy yesterday. The incident came two weeks after Tour de France champion Bradley Wiggins and British Cycling head coach Shane Sutton suffered similar crashes.
United stars out of Turkey trip November 19, 2012 FOOTBALL: Manchester United manager Sir Alex Ferguson has left out a host of key players from the squad to play away at Galatasaray tonight in the Champions League, having already qualified for the knockout stages. Wayne Rooney is absent alongside top scorer Robin van Persie. Captain Patrice Evra, Rio Ferdinand and Ryan Giggs also have [...]
Vettel fearing a final day failure November 19, 2012 FORMULA ONE: World champion Sebastian Vettel fears his quest for a third successive title could be scuppered in this week’s decisive final race by a recurring alternator fault. Red Bull team-mate Mark Webber did not finish Sunday’s US Grand Prix because of the issue, which has also forced Vettel to retire twice this year. The [...]
Firms shunning syndicated loan offer for bonds November 19, 2012 UK businesses’ use of syndicated loans has plunged to the lowest levels since 2009, as more and more firms use corporate bond markets to access financing, figures out yesterday show. Syndicated loan volumes for UK corporate borrowers, which measures money lent by a group of lenders to one borrower, now stands at $45.3bn (£28.5bn) for [...]
Fund managers complain that megamergers have little value November 19, 2012 CITY investors take a dim view of the value of megamergers and blame investment bankers for weakening the IPO market with unrealistic valuations, a new survey out today claims. A poll of fund managers from 200 major City investment houses found 72 per cent believed megamergers such as that of Glencore and Xstrata offer little [...]
Lloyds offloads Irish loan book November 19, 2012 Lloyds Banking Group has taken a 90 per cent loss on £1.47bn of troubled Irish real estate loans after selling them to US firm Apollo Global Management. The sale for £149m will not have a material impact because the value of the loans had been largely written down previously, Lloyds said yesterday. The end of [...]
City of London revenues jump November 19, 2012 Financial services group City of London yesterday said a 169 per cent rise in half year revenues had lifted its profits by a quarter. The firm, which recently raised £1.3m through a share placing, lends to small businesses and said the pullback of traditional bank lending had been a boon for the firm. Chief executive [...]
Gains for NB Private Equity November 19, 2012 NB Private Equity, the Dutch private equity fund listed in London, yesterday said its net asset value had increased 3.6 per cent in the last nine months. The increase was led by realised gains of $21.8m (£17.6m) from sales of private equity holdings in its portfolio. The firm also revised up its unaudited NAV figure [...]
RSM Tenon says watchdog has stepped back November 19, 2012 BELEAGUERED accountancy firm RSM Tenon yesterday warned its most recent turnover figures had disappointed management expectations, but the firm was still making impressive profits. The company, which announced it is cutting 400 staff to trim costs and turn around the business, said in its interim management statement yesterday that revenues in the first quarter were [...]
Accountants expect bonuses to fall after mixed financial results November 19, 2012 ACCOUNTANTS in the UK are expecting their bonus pots to fall this year according to research released yesterday, after profits per partner at the big four firms fell by up to five per cent. Both bonuses and overall remuneration are expected to fall by around two percent, mirroring the decline of the past two financial [...]
