Stelios ends brand dispute with easyJet October 11, 2010 EASYJET celebrated yesterday after settling a bitter court battle with founder Sir Stelios Haji-Ioannou that will see it hold on to the orange “easy” branding in a deal that is expected to net Stelios more than £80m in royalties over the next ten years. The four-month dispute ended after the two sides agreed a revised [...]
BA and union edge closer to new peace deal October 11, 2010 BRITISH Airways (BA) and the union representing its cabin crew are moving closer to a peace deal, with a branch of the union claiming a deal could be reached as early as this week. “We did have talks with BA and (conciliation service) Acas last Friday, we did make some progress and we hope to [...]
THE CAPITALIST October 11, 2010 ONCE more, the hedge fund community unites for a good cause – this time not by shelling out enormous sums of money while being wined and dined at a charity gala dinner, a la Arki Busson, but by writing a book designed as a warning to policymakers all over the globe. Tonight will see swanky [...]
Wall Street flat as earnings awaited October 11, 2010 US stocks drifted in the lightest trading volume of the year yesterday as few dared to place bets ahead of key companies’ results later this week. Expectations the Federal Reserve will flood markets with even more cash have been fully priced in to the market, so investors are now focused on third-quarter earnings season, with [...]
Battersea Power Station owner agrees loan break October 11, 2010 REAL Estate Opportunities (REO), the owner of London’s iconic Battersea Power Station, has announced it has won a reprieve from its creditors while it finds an outside investor. Note holder Oriental Property, which used to own the site, and other creditors have agreed to give the site a payment holiday on bonds worth in the [...]
Songbird edges closer to acceptance for open offer October 11, 2010 CANARY Wharf-owner Songbird Estates yesterday said it had received the backing of shareholders representing 95.3 per cent of the new ordinary shares under an open offer designed to raise £140m. The new ordinary shares are expected to shortly commence dealing on the Alternative Investment Market as the company, which counts Qatar Holdings and China Investment [...]
Hunting growth on the frontiers as the West sinks deep into solipsism October 11, 2010 PLAMEN Monovski doesn’t immediately come across as an aggressive investor in some of the world’s least explored markets. He sits almost demurely at a table overlooking a sunny, 12th-floor view of the City, sipping a cappuccino and speaking in genteel, accented tones, often punctuated by a mild smile. But don’t be fooled. Monovski has been [...]
London float for Russian internet firm October 11, 2010 A Russian internet service provider part-owned by billionaire Alisher Usmanov is floating on the London market to raise an estimated $500m-$750m (£314.7m-£472.1m). Usmanov and other investors in Mail.ru Group plan to offer up to 15 per cent of the group’s share capital, giving it a market value of about $5bn, a source close to the [...]
Ex-Hawkpoint boss Briance joins Edmond de Rothschild October 11, 2010 INVESTMENT banker Richard Briance has ambitious plans for the expansion of the Edmond de Rothschild group’s UK operations, after taking his new role at the helm of the firm. Briance, who was formerly chief executive and then deputy chairman of corporate finance advisory boutique Hawkpoint, has joined Edmond de Rothschild as its new UK chief [...]
Sales leap for Travis Perkins as it warns of looming spending cuts October 11, 2010 Builders’ merchant and DIY retailer Travis Perkins yesterday announced higher sales, but pointed to signs that government spending cuts had begun to bite. Travis, which trades from more than 1,200 branches under Travis Perkins, Keyline, Wickes and other brands, said turnover at branches in its merchanting division open at least a year increased 10.3 per [...]
