Wembley ‘big incentive for London clubs’ August 26, 2010 ARSENAL chief executive Ivan Gazidis believes a Wembley final will provide extra motivation for London clubs to go all the way in the Champions League after British sides learned their fates yesterday. Newcomers Tottenham got the plum draw they hoped for with a group that includes last season’s winners Inter Milan, while Chelsea and the [...]
Chote is still best man for the OBR August 26, 2010 THE highly respected Institue of Fiscal Studies (IFS) has been a thorn in the side of government – both Conservative and Labour – for as long as I can remember. During the Gordon Brown era it constantly pulled up the then chancellor for overpromising on the public finances and earlier this week it savaged the [...]
Migration stats cause rift August 26, 2010 THE LATEST migration figures have become a battleground for the coalition government, after Conservative minister Damian Green used the 20 per cent jump in net entrants to illustrate the need for a cap on migration. Immigration minister Green said yesterday the figures “show why we must tighten our immigration system in order to reduce net [...]
Credit Suisse hired for AIA IPO August 26, 2010 Months after advising Prudential on its failed $35.5bn (£23bn) bid for AIA, Credit Suisse has been hired to help the Asian business float on the Hong Kong stock exchange. Credit Suisse joins Bank of America Merrill Lynch, Goldman Sachs, Morgan?Stanley, Citigroup and?Deutsche Bank on AIA’s initial public offering (IPO), whose basic features will be worked [...]
Dana attempts to delay takeover August 26, 2010 Dana Petroleum will try and stall KNOC’s plans for a hostile takeover today by holding back details of its planned £240m purchase of North Sea assets. Dana hopes that by leaving the information out of its interim results, KNOC will remain bound by insider trading rules.
Balls sees economic hurricane August 26, 2010 Labour leadership candidate Ed Balls will today pit his financial wits against the coalition government, by claiming an “economic hurricane” is about to hit the UK in a speech at Bloomberg HQ. Balls is set to tell the chancellor George Osborne he is a “growth denier” who is ignoring signs of a global slowdown.
WHAT THE OTHER PAPERS SAY THIS MORNING August 26, 2010 FINANCIAL TIMES BANKS BACK SWITCH TO RENMINBI FOR TRADE A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China. HSBC and Standard Chartered are offering discounted transaction fees and other financial incentives to companies that choose [...]
Selling prices accelerate at a record pace August 26, 2010 SHOP price inflation accelerated in August at its fastest rate since February 1992, the CBI revealed yesterday, raising the ugly spectre of persistently rising prices and creating even more of a headache for the Bank of England. In its August distributive trades survey, the business lobby reported that a net 58 per cent of firms [...]
HP trumps Dell in latest $1.8bn bid for rival 3PAR August 26, 2010 THE FIGHT for data storage firm 3PAR accelerated last night as Hewlett Packard upped its bid to $27 a share, valuing the business as $1.8bn (£1.2bn), just hours after 3PAR accepted a $24.30 offer from Dell. US shares in 3PAR shares rose to $27.90 in extended-hours trading after HP’s announcement, suggesting investors are hoping for [...]
Dow crashes below crucial 10,000 level August 26, 2010 THE Dow Jones closed below the psychologically-crucial 10,000 level yesterday as investors shrugged off better than expected US jobs figures to focus on an expected downgrade for US GDP today. The US blue chip index fell 0.7 per cent to 9986.81 – its lowest level since 6 July ahead of today’s GDP growth for the [...]
