WHAT THE OTHER PAPERS SAY THIS MORNING October 5, 2010 FINANCIAL TIMES HEDGE FUND MANAGER ENTERS BEAR MARKET A disgraced hedge fund manager is to sell one of the world’s most valuable collections of teddy bears at a London auction later this month. Paul Greenwood, who pleaded guilty to fraud charges last year, will sell his £1.2m collection of Steiff teddy bears at Christies International [...]
Tottenham at loggerheads with Coe over Olympic track October 5, 2010 TOTTENHAM are on collision course with Lord Coe over the Olympic Stadium after it emerged yesterday their bid to move into the arena does not include keeping the running track. Coe, a key figure in bringing the 2012 Games to London and chairman of the Organising Committee, has insisted that preserving the stadium’s ability to [...]
Goldman sees its first half profits slide October 5, 2010 GOLDMAN Sachs yesterday revealed profits at its London operations fell to less than £1bn for the first half of the year. The bank posted a $1.47bn (£925m) profit, compared to $2.72bn last year, with revenues tumbling from $4.42bn in the first half to just $7.34bn. The bank revealed it paid the Treasury $600m in the [...]
Ernst & Young is falling behind its big four rivals October 5, 2010 ERNST & Young (E&Y) has reported flat revenue growth across its global offices, falling behind big four rivals Deloitte Touche Tohmatsu and PwC. The accounting giant posted $21.3bn (£13.3bn) in global revenue, marking a slight decrease from 2009 when global income came to $21.4bn. The firm’s results place it behind Deloitte and PwC, which both [...]
Rio’s deal with BHP on iron ore hits a hurdle October 5, 2010 MINING group Rio Tinto has made no decision on its planned $116bn (£72.9bn) Australian joint venture with BHP Billiton, it said yesterday after claims that the deal could be terminated. “The Rio Tinto board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore [...]
Hicks and Gillett set to block fresh offers to buy Liverpool October 5, 2010 UNPOPULAR owners Tom Hicks and George Gillett faced the wrath of Liverpool supporters again last night after it was revealed they are to set to oppose two fresh bids to buy the club. The Liverpool board met yesterday to discuss proposals from two consortiums – one believed to be from Asia and the other from [...]
Tesco talks up economy as profit lifts October 5, 2010 TESCO said yesterday that the UK was unlikely to slide back into recession as it reported a 12.5 per cent increase in first half profit to £1.6bn. The world’s third largest retailer said it had been boosted by the strength of Asian markets, offsetting “modest” UK sales growth in the 26 weeks to 8 August. [...]
Tesco October 5, 2010 SIR Terry Leahy effectively signs off with yet another set of results which shows Tesco is negotiating choppy economic waters in a calm and assured way. While UK sales growth of three per cent is far from stellar, growing Asian markets have helped to keep the ship moving forward. Analysts point to the surprise forecast [...]
Russian grocer O’key planning a £315m London share offer October 5, 2010 RUSSIA’S third biggest food retailer O’key plans to raise up to $500m (£315m) in a London share offer to fund expansion, making it the latest Russian firm to revive IPO plans. O’key, which operates a 52-store chain, will launch a global offering of global depositary receipts (GDRs), with each GDR representing one share, by the [...]
‘England’s greatest Tests lie ahead’ October 5, 2010 ENGLAND captain Andrew Strauss believes the current side has the potential to be even better than the iconic Ashes winners of 2005. Strauss, who scored two centuries in that landmark series, will lead the class of 2010 in Australia this winter as they look to retain the urn. And he says that it is how [...]
