Banks with politics got bailouts December 21, 2009 US banks that spent more money on lobbying were more likely to get government bailout money, according to a study released yesterday. Banks whose executives served on Federal Reserve boards were more likely to receive government bailout funds from the Troubled Asset Relief Programme, according to the study from Ran Duchin and Denis Sosyura, professors [...]
Kroenke nears Arsenal threshold December 21, 2009 US sports and real estate entrepreneur Stan Kroenke has bought another 25 shares in Arsenal football club, taking him close to the threshold for a mandatory takeover offer. The Premier League club said in a statement to the London Stock Exchange yesterday that Kroenke bought the shares for £8,500 each on 17 December, giving him [...]
SALES CHILLED December 21, 2009 HEAVY snow and freezing temperatures have deterred Christmas shoppers from hitting the High Street for some last minute purchases. According to data firm Experian, the number of shoppers on 19 on 20 December was 6.9 per cent lower than for the same weekend last year. Central London was one hot spot, with the West End [...]
Avanti raises funds to grow December 21, 2009 SATELLITE company Avanti yesterday raised £282m through a combination of shares and debt facilities to fund growth in providing broadband to inaccessible markets. The company, which sells broadband using satellite technology to remote and rural locations, will use the money to launch its second satellite in 2012. Avanti current rents space on other satellites, and [...]
Vodafone gives details of its £35 a month iPhone offering December 21, 2009 VODAFONE will make its move in to the iPhone market on 14 January, becoming the fourth UK network to sell the sought-after handset. It will offer customers a free handset for £35 a month on a two-year contract. Vodafone joins Orange, Tesco and O2, which had the original exclusive deal with Apple for the handset’s [...]
DUBAI FOR NOW? December 21, 2009 DUBAI WORLD yesterday disappointed creditors by making little progress on securing a standstill on $22bn of debt, as a key creditor meeting saw less than half the expected attendees showing up. Dubai World said the meeting was an overview and that creditors need to form a panel for talks to proceed, but gave few details.
Nat Express driving on to better times December 21, 2009 BUS and rail operator National Express claimed to be back on track – reporting a stable fourth quarter with profits set to be in line with forecasts. The company said underlying revenues at its UK bus division had been boosted by four per cent thanks to a shake-up in fares and new marketing drives. National [...]
Fate uncertain for Lederman December 21, 2009 TURQUOISE chief executive Eli Lederman’s fate is hanging in the balance after his firm yesterday confirmed its tie-up with the London Stock Exchange’s Baikal dark pool trading platform. Lederman is understood to be in ongoing talks with the LSE over his potential role after the deal completes in February, though no decision has yet been [...]
WHAT DOES THE FUTURE HOLD FOR NATIONAL EXPRESS? December 21, 2009 ED WOOLFITT | GALVAN RESEARCH “Following what can only be described as a near catastrophic year for National Express, the underlying revenue trend has stabilised in Q4, in line with the previously reported performance. The trading statement presents National Express in a better light with cost efficiencies offsetting areas of revenue weakness.” DAVID JONES | [...]
Minerva slips as bidder hits out at board December 21, 2009 PROPERTY group Minerva saw its shares dip yesterday after its biggest shareholder, Nathan Kirsh, who has launched a hostile bid, accused the board of damaging the company’s prospects. Kirsh, who owns 29.9 per cent of Minerva through his investment vehicle KiFin and has mounted a takeover bid worth £85m, said: “The actions taken by the [...]
