Euro crashes as investors baulk at debt laden states February 4, 2010 SHARES across the eurozone tumbled yesterday as investors reacted to fears over spiralling Spanish, Portuguese and Greek debt. The euro plunged to a seven-month low against the dollar as investor fears over mounting public debt undermined confidence in the ability of the European countries to fund their budget shortfalls. The head of the International Monetary [...]
CPS to decide if it will charge six politicians February 4, 2010 SEVERAL MPs and members of the House of Lords will today find out whether they are to face criminal charges over their expenses claims. The Crown Prosecution Service, which has been studying the evidence against six parliamentarians, will announce its decision at 11am. Labour MPs Eliot Morley, Jim Devine and David Chaytor have been under [...]
‘Prescriptive theory just an excuse’ February 4, 2010 IRATE is not a word that springs to mind frequently during a chat with the affable Mark Cueto. The very epitome of laid-back, he seems the kind who would meet the clamping of his car with a good-natured shrug. But the England wing bristles and takes a deep breath when one particular subject is brought [...]
EMI’s survival in doubt as its February 4, 2010 EMI Group, the beleaguered record label behind artists such as Coldplay and Katy Perry, suffered a £1.6bn loss last year. The British company, which is owned by financier Guy Hands’ Terra Firma private equity operation, was hit by a huge impairment charge of £1.03bn. It is understood two thirds of the damage came from EMI’s [...]
Mastercard misses forecasts February 4, 2010 Higher-than-expected costs and rebates caused MasterCard’s quarterly earnings to fall short of Wall Street forecasts yesterday, driving shares of the world’s second biggest credit card network down 10.3 per cent to $222.1. The shares hit a two-and-a-half-month low despite a 23 per cent jump in fourth-quarter profit. A weak US dollar and rebound in global [...]
It’s D-Day for Terry as boss Fabio flies in February 4, 2010 JOHN TERRY will finally discover whether he will remain as England captain today following showdown talks with boss Fabio Capello. The Chelsea defender is set for talks with the Italian coach after stories emerged at the weekend of an alleged affair with an ex-partner of England colleague and former Chelsea team-mate Wayne Bridge. Capello touched [...]
Glaxo to cut more jobs as it aims to slash spending February 4, 2010 GLAXOSMITHKLINE (GSK) is set to cut hundreds of research and development jobs as it cuts costs and abandons some areas of research — including depression — joining a growing band of big drugmakers taking a knife to previously sacrosanct drug discovery work. GSK, which employs 16,000 in the UK, has already cut more than 2,000 [...]
New Pompey owner applies for stay of execution February 4, 2010 PORTSMOUTH have appealed for next week’s potentially fatal winding-up hearing to be delayed after being taken over by Hong Kong businessman Balram Chainrai. Chainrai’s company Portpin was yesterday confirmed as the financially-stricken club’s fourth owner in the space of six months. The 51-year-old took charge after previous owner Ali Al-Faraj defaulted on a loan repayment, [...]
Toyota lifts profit forecast despite recall February 4, 2010 JAPANESE car maker Toyota upgraded its full-year profit forecast yesterday even as it emerged it would suffer $2bn (£1.3bn) in extra costs as a result of recalling millions of cars around the world. The automobile manufacturer lifted its 2009 forecast from a loss to a £550m profit, defying bad news over faulty accelerator pedals. For [...]
Centrica cuts energy bills for homeowners February 4, 2010 Britain’s biggest household energy supplier British Gas became one of the first utilities to cut gas prices for residential customers yesterday with owner Centrica announcing a seven per cent cut. The price cut, which partly reflects lower gas wholesale prices, will affect eight million households and save the average gas customer £55 per year, British [...]
