Knight Capital supports Nasdaq offer to boost compensation pot August 30, 2012 US broker Knight Capital has backed an improved compensation pot of $62m (£39.2m) from the Nasdaq stock exchange over losses incurred after the botched Facebook float in May, it was revealed yesterday. The broker was threatening to sue Nasdaq over the errors, which caused market makers like Knight to lose millions after a glitch meant [...]
Acquisitive Carlyle Group snaps up DuPont car paint for $4.9bn August 30, 2012 DUPONT yesterday struck a deal to sell its slow-growing car paint business to private equity Carlyle Group for $4.9bn cash as it seeks to focus on higher-growth areas such as agriculture and nutrition. The sale caps a nearly eight-month-long auction of the car paint unit, which has 11,000 employees and is expected to generate revenues [...]
Ofcom adamant on 4G launch August 30, 2012 Telecoms watchdog Ofcom will stick to its guns on launching 4G mobile internet in the UK this year, in spite of disquiet from some mobile network operators. “We are ready for any potential litigation of our decision to allow this and we will robustly defend our position if required,” a spokesman said yesterday. The comment [...]
Ex-NOTW lawyer arrested August 30, 2012 The former legal manager at News Group Newspapers, which used to run the defunct News of the World newspaper, is understood to have been arrested by cops investigating phone hacking allegations. Tom Crone, 60, was arrested at his home on suspicion of conspiring to intercept communications and was being interviewed at a south London police [...]
ICG issues second sterling bond August 30, 2012 Debt fund manager Intermediate Capital Group (ICG) has launched an eight year sterling bond aimed at retail investors. The issue is the firm’s second foray into the bond issuing world having launched a similar product in December 2011. The bond has a fixed coupon paying 6.25 per cent and will mature in 2020. Canaccord Genuity [...]
Worried China could buy more Eurozone debt August 30, 2012 CHINESE Premier Wen Jiabao welcomed yesterday’s visit by German chancellor Angela Merkel by saying he was prepared to do more to help the Eurozone, yet admitted that Europe’s woes remain a headache for much of the global economy. And even China’s comparatively strong position took a knock when Moody’s sent out a warning over the [...]
Eurozone confidence continues to dive as retail slump deepens August 30, 2012 EUROPEAN business and consumer confidence deteriorated notably in August, according to the economic sentiment indicator (ESI), released yesterday by the European Commission. The headline ESI dropped 1.8 points in the Eurozone, leaving it at 86.1, following its sharp decline across most of the last two years – 100 represents the long-term average. The euro area [...]
Hollande backs bond buying as he visits Spanish Prime Minister August 30, 2012 FRENCH President Francois Hollande yesterday added his support to suggestions that the EU could buy bonds from its struggling member countries, as he made his first visit to Spain since taking power. “When you see such wide gaps in yields, that could be a justification for an intervention in the name of monetary policy,” Hollande [...]
Draghi pulls out of another engagement August 30, 2012 MARIO Draghi, president of the European Central Bank, yesterday pulled out of a public debate with top EU officials Olli Rehn and Michel Barnier at the European Parliament, which had been due to go ahead on Monday. They will now meet behind closed doors instead.
Hays sees no end to British hiring slump August 30, 2012 SHARES in Hays fell 8.8 per cent yesterday as the recruiter warned that the hiring slump in Britain and abroad will continue into next year. “Our markets over the last 12 months have got progressively more difficult and a number of them do not have any momentum in them today,” chief executive Alistair Cox said [...]
