Yields on Irish and Portuguese bonds jump after bailout plans November 1, 2010 BORROWING costs for Dublin and Lisbon jumped yesterday after investors were spooked by EU plans to force bondholders to share in the pain in the event of another sovereign debt crisis. Last week, EU leaders signed up to German chancellor Angela Merkel’s plan to deal with any repeat of Greece’s debt crisis, which stipulates that bondholders must [...]
ENRON MAN APPEALS November 1, 2010 A THREE-JUDGE panel yesterday heard an appeal by imprisoned former Enron chief executive Jeffrey Skilling that could result in his freedom, a new trial or a reduced sentence. The appeal is Skilling’s latest chance to reduce his 24-year prison sentence after being convicted over one of the biggest fraud cases of the last decade.
Harry fears a sloppy start will scupper his Italian job November 1, 2010 TOTTENHAM vs INTER MILAN TOTTENHAM manager Harry Redknapp has urged his players to go for the jugular from the off against Champions League holders Inter Milan this evening. White Hart Lane is set to host its biggest European night in 26 years and Redknapp knows a repeat of the sluggish start in the San Siro [...]
AIB kicks off search for chief executive November 1, 2010 Allied Irish Banks (AIB) has put the sale of its British businesses on hold after failing to get any decent bids, its new chairman said yesterday, meaning the government may have to take an even larger share in the lender. Dublin is already set to take a stake of over 90 per cent in AIB [...]
Irish ruling paves way for €73bn of loan purchases November 1, 2010 THE Irish High Court has slapped down a challenge by property developer Paddy McKillen, paving the way for Ireland’s National Asset Management Agency (NAMA) to continue buying billions of euros worth of loans from distressed banks. Lawyers for McKillen, who owns a string of luxury hotels including Dublin’s Clarence Hotel and London’s Claridge’s, had argued [...]
Republicans set to win in US elections November 1, 2010 DEMOCRATS are widely forecast to lose control of the House of Representatives today as Americans go to the polls in the US midterm elections, but President Barack Obama’s party could hang on in the Senate. Polls put the Republican lead at between six and 15 per cent, with Democrats especially vulnerable in the south. The [...]
Listing of Petronas division could raise as much as $5bn November 1, 2010 STATE-owned Malaysian oil and gas group, Petronas could raise up to $4.8bn (£2.9bn) from an initial public offering (IPO) of shares in its newly formed chemicals subsidiary, more than double earlier market estimates. The prospectus for the IPO of Petronas Chemicals Group reveals shares will be priced at between MS$4.50 and MS$5.20. But the group [...]
MOSS DEBUTS FINAL TOPSHOP COLLECTION November 1, 2010 Supermodel Kate Moss celebrated the launch of her final seasonal collection for British retail chain Topshop (owned by Philip Green, left) last night with a party at its flagship London store at Oxford Circus. The final collection includes “Biba-esque” floral printed day dresses, shift dresses with cross stitch panels, a pair of midnight blue velvet [...]
Ryanair profit rises despite volcano losses November 1, 2010 Ryanair, the low cost airline, yesterday announced profits of €452m (£392m) for the half year to 30 September, an increase of 17 per cent on the same period in 2009. The profits came on the back of a 23 per cent increase in revenues to €2.2bn. The airline increased its prediction for full-year net earnings, [...]
Airline security expert Smiths sees a boost in its share price November 1, 2010 Shares in Smith Group, a company which manufacturers security equipment for airports, leapt 3 per cent yesterday to 1,232p on speculation that airports will have to increase security measures for cargo planes following the Yemeni bombs. Smiths makes explosives detectors which are widely used in America, where regulations that came into force on 1 August [...]
