CORPORATE MANSLAUGHTER CASE ADJOURNED February 23, 2010 THE trial of the first UK company charged under the 2007 Corporate Manslaughter Act was yesterday adjourned for legal arguments. Cotswold Geotechnical Holidays is accused over the death of 27 year-old employee Alex Wright who died in September 2008 when a trench collapsed on him. Company director Peter Eaton (pictured centre) also faces a charge [...]
Heineken tips 2010 as tough as sales slide February 23, 2010 HEINEKEN has forecast lower beer consumption and limited price increases this year. The prediction came as the brewing giant yesterday reported 2009 results in line with expectations. Heineken, like other brewers, suffered from recession-hit consumers drinking less beer. Chairman Jean-François van Boxmeer said: “The global economic environment will continue to lead to lower beer consumption [...]
Drinks and pubs group in call for a beer tax freeze February 23, 2010 THE British Beer & Pub Association (BBPA) has called on the UK government to ditch its proposed tax hike on beer estimating it will save thousands of jobs across the sector. The BBPA said that by scrapping the proposed two per cent tax hike the government is proposing ahead of March’s budget meeting, 7,500 jobs [...]
Luminar chief stepping down after 23 years February 23, 2010 NIGHTCLUB group Luminar will see a management changeover next month when chief executive Stephen Thomas intends to step down. Thomas announced yesterday that music industry man Simon Douglas will replace him at the helm of the company he founded in 1987. Thomas will officially step out of his title as chief executive next week and [...]
Dragon Oil diversifies as it looks to expand February 23, 2010 Dubai based oil and gas explorer Dragon Oil, plans to invest $870m (£562m) in oil and gas projects over the next two years, it said in a statement yesterday. The London-listed company is targeting annual output growth of 10-15 per cent through 2012 as it seeks expansion in the Middle East, North Africa and Central [...]
BEST OF THE BROKERS February 23, 2010 BRITISH AMERICAN TOBACCO Morgan Stanley advises investors to “overweight” British American Tobacco shares ahead of tomorrow’s full year results. Says pricing strength, cost savings, improved economic conditions and a reduced hit from currency transactions will mean “solid” earnings per share growth. Raises target price to 2,350p, and highlights favourable industry operating conditions. N BROWN UBS [...]
Brookfield to make $2bn move on General Growth February 23, 2010 CANADIAN group Brookfield Asset Management is understood to be preparing a $2bn (£1.3bn) bid for a 30 per cent stake in General Growth Properties, the bankrupt mall owner. The offer would trump an approach by Simon Property Group and rescue Chicago-based General Growth from Chapter 11 solvency with Brookfield as its largest shareholder. Simon Property, [...]
Japanese are looking overseas for returns February 23, 2010 FACED with the lowest interest rates in the G10, even the Japanese are abandoning the yen. In search of higher yields and better growth prospects, they are looking overseas to higher-yielding assets in emerging markets and piling in to Toshin funds, which allow retail investors to invest in high-yielding currencies. This week an estimated ¥3.9bn [...]
THREE EVENTS TO SHAKE UP THE WORLD February 23, 2010 FOLLOWING weeks of turbulence, FX appears to have found temporary support. So this week I want to consider three unlikely, but not improbable, scenarios that could have a radical impact on the markets this year. GREECE IS THE TIP OF THE ICEBERG The news that Greece used complex swaps to improve its budget finances put [...]
You’d be mad to ignore the loonie February 23, 2010 IT’S tough being Canada. Whatever you do, you are always going to be compared to the superpower next door. And even when you go and host a major sporting event, people only snipe. But you would be wrong to underestimate the land of lumberjacks and Labatt’s. For the past few months, the Canadian dollar has [...]
