CBOE set to open London hub for trading on Vix index futures September 6, 2012 CBOE, which runs the oldest and largest US stock-options exchange, is planning to open a base in London for its fast-growing futures market as it tries to woo more clients from abroad. CBOE Futures Exchange will establish its first non-US hub in a London data centre next year, it said in a statement yesterday. The [...]
Moshi Monsters proves popularity with adults September 6, 2012 IT seems it is not just kids who look on in wonder when they see a Moshi Monster or a JCB digger – judges of this year’s Private Business Awards are clearly pretty impressed too. The awards, which celebrate UK’s private businesses, last night named construction and agricultural equipment maker JCB as the country’s top [...]
Top-earning rap stars bump up profits with business ventrues September 6, 2012 THEY say the music industry is dying, but despite – or perhaps because of – tough times for record sales, savvy musical entrepreneurs are finding new niches to apply their business acumen. Rap mogul Dr Dre, aka Andre Young, topped this year’s Forbes’ “Cash Kings” hip hop rich list not with a big tour, or [...]
Direct Line’s Geddes needs to sell himself or face failure September 6, 2012 LONDON’S capital markets have been cheered a little by news that Alisher Usmanov, the Russian tycoon that owns a large shareholding in Arsenal football club, intends to raise $4bn (£2.5bn) for mobile phone operator Megafon in the next few weeks. There have been too few IPOs this year and so anything that livens up the [...]
KfW in Deutsche Post share sale September 6, 2012 Bank of America Merrill Lynch and Rothschild yesterday raised €1bn through the sale of a stake in Deutsche Post for the German state development bank KfW. KfW will remain Deutsche Post’s largest shareholder after the placement with a holding of about 25.5 per cent, and has promised not to sell more shares for 90 days [...]
Delta expects profitable third quarter September 6, 2012 Delta Air Lines said yesterday it expects a “solidly profitable” third quarter even as rising fuel prices pressure margins. The US carrier said it expects an operating margin of nine per cent to 11 per cent for the third period, about one point lower than an earlier expectation, because of higher fuel costs, it told [...]
BA eyes Asian carriers as it ditches Qantas September 6, 2012 BRITISH Airways has ditched its long-running partnership with carrier Qantas to stop it from affecting International Airline Group’s (IAG) balance sheet, it is understood. A source familiar with the situation suggested that Qantas’ recent financial struggles were the reason for IAG’s wholly-owned subsidiary British Airways to leave the 17-year partnership. The joint business between British [...]
Surfwear firm Billabong riding high after rival takeover bid September 6, 2012 AUSTRALIAN surfwear company Billabong International yesterday received a takeover approach by a second suitor, identified as Bain Capital by sources familiar with the matter. The new bid is valued around A$694m (£448m) and matches an existing bid from private equity suitor TPG Capital. Billabong said a new party offered “around A$1.45” a share and has [...]
UK rail franchise Southern hits Go-Ahead’s full-year profits September 6, 2012 UK TRANSPORT group Go-Ahead yesterday posted a drop in full-year profit, as its rail businesses felt the heat. Full-year profit for the year to 30 June came in at £94.2m, down from £97.6m the year previously, despite a rise in revenue to £2.4bn, an increase of 5.5 per cent from last year. Over the year, [...]
Auditors welcome plans to cut red tape for small businesses September 6, 2012 A GOVERNMENT plan to slash red tape for small businesses was welcomed by auditors when it was announced yesterday by the Department for Business, Innovation and Skills (BIS). Over 100,000 businesses could be released from the requirement to undergo a statutory audit, potentially saving small firms millions of pounds. The rules will make firms eligible [...]
