BRIEFS | LEGAL NEWS November 2, 2010 PARTNERS FACE PROCEEDINGS Former partners at Halliwells, which collapsed this summer, could face legal action. Joint administrators Dermot Power and Shay Bannon sent what has been dubbed a “letter of death” to ex-partners, saying that they could face proceedings related to claims including unpaid capital contributions and breach of duty. The administrators are investigating various [...]
Oracle snaps up Art Tech in a $1bn deal November 2, 2010 ORACLE plans to buy e-commerce software company Art Technology Group for $1bn in cash to compete with other large technology vendors like IBM which have been expanding their software lineups. Oracle’s $6-per-share bid, announced yesterday, represents a 46 per cent premium over ATG’s close of $4.10 on Nasdaq. Analysts said the acquisition, due to close [...]
Recession… what recession? November 1, 2010 Buoyant manufacturing figures from the UK, the US and China boost hopes for global recovery Factories continued to fire back to life last month, with manufacturing in the UK, the US and China rebounding more strongly than economists had expected. In the UK, the manufacturing sector kicked off the fourth quarter on a high note, [...]
Tube strike to start at 7pm today November 1, 2010 MILLIONS of commuters face yet another struggle to get home this evening as a third 24-hour strike on the London Underground begins. Transport for London (TFL) warned yesterday the underground network will begin to grind to a halt from around 5pm this evening as Tube workers wind down services in preparation for the strike, which [...]
Private sector recovery still on track November 1, 2010 WHAT a day for the global economy. In Britain, China and America, manufacturing surveys surged ahead, in every case beating consensus estimates and suggesting strong private sector growth over the next few months. Yesterday’s jump in the global purchasing managers indices were undoubtedly the most bullish indicator I have seen in a long time. The [...]
AT A GLANCE | HOW TO BEAT THE STRIKE – DISRUPTION STARTS THIS EVENING November 1, 2010 TUBE Disruption is likely to most journeys, but London Underground will run as many trains and keep as many stations open as possible. Check www.tfl.gov.uk for the latest situation on your line and at your station before you travel. Volunteers will be on hand at key stations to give alternative travel options and otherwise assist [...]
Labour pulls ahead in polls November 1, 2010 The Labour party has pulled ahead of the Conservative party for the first time in three years, according to the latest ComRes opinion poll. The party is now on 37 per cent, two points ahead of the Conservatives. The most recent survey shows the party picked up three points from the previous poll taken just [...]
Phones 4U up for sale November 1, 2010 Deutsche Bank is believed to have drawn up a shortlist of bidders for a sale of phone company Phones 4U, including private equity giant Blackstone Group and BC Partners. The company, founded by John Caudwell in 1987 and sold in 2006 to Providence Equity Partners and Doughty Hanson for £1.5bn, could now be sold for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 1, 2010 FINANCIAL TIMES LEASE FEARS FOR OFFSHORE WIND FARMS Wind farm operators building offshore risk having their leases terminated without compensation if oil and gas companies decide they need the seabed plot for exploration, drilling or pipelines. Industry executives are warning that the lease terms, issued by the Queen’s Crown Estate, could threaten the funding of [...]
Serco makes humiliating rebate U-turn November 1, 2010 SERCO, the FTSE 100 outsourcing firm, was forced into a grovelling apology yesterday for demanding money back from suppliers, despite promising the government it would not do so. In September Serco financial director Andrew Jenner wrote to the company’s 193 biggest suppliers saying that “like the government, we are looking to determine who our real [...]
