BoA to shed real estate assets August 16, 2011 Bank of America is in exclusive talks to sell the bulk of Merrill Lynch’s boom-time real estate investments to Blackstone for up to $1bn (£607m). The sale is still weeks away and would comprise between $800m and $1bn of unwanted property investments in Europe, the US and South America. The sale is part of the [...]
ABN Amro sells private bank arm August 16, 2011 ABN Amro is selling its Swiss private banking operation to Union Bancaire Privee for an undisclosed price. The deal, announced yesterday, will see UBP complete the purchase in the fourth quarter of the year. ABN Amro had €11bn (£9.6bn) in client assets under management at the end of this year’s first quarter. The acquisition will [...]
UK’s inflation springs back again to 4.4pc August 16, 2011 STUBBORN inflation bounced back up in July, official figures revealed yesterday, hitting 4.4 per cent in the consumer price index (CPI) – up from 4.2 per cent in June. Yet despite being forced to write another letter to chancellor George Osborne – explaining why inflation has remained more than one per cent above target for [...]
New evidence set to reignite tabloid phone hacking row August 16, 2011 RUPERT Murdoch must have been “confused or misinformed” over the role of Harbottle & Lewis in the phone hacking investigation, the law firm claimed yesterday in an intervention that looks set to reignite the row. The firm dismissed Murdoch’s claims that a 2007 report it carried out suggested phone hacking was not widespread at News [...]
Npower slaps its customers with big hike in energy bills August 16, 2011 UTILITY group npower is raising household energy bills by 12.2 per cent from October, putting increased pressure on consumer spending already dampened by the rising cost of living. The utility said the increases, which work out to 37p extra per day for dual-fuel customers, were due to volatile trading conditions in wholesale energy markets compounded [...]
Markets cool over Google’s Motorola bid August 16, 2011 MARKETS were yesterday digesting the implications of Google’s shock $12.5bn (£7.6bn) bid for Motorola Mobility. Google slumped 3.4 per cent, continuing the cool reception after the announcement on Monday. However, investors across the sector appeared to be cautiously optimistic, with hopes that the bid will help to mitigate the adverse effects of future patent battles. In [...]
BlackBerry brand survives riots association August 16, 2011 LAST week saw one story dominate the news and although the bulk of the focus was on the rioters, the areas and buildings being looted, the police and the politicians the one brand that was continually being talked about was BlackBerry. It seemed that BlackBerry Messenger was the communication method of choice for the rioters, [...]
Blockbuster deal boosts global technology M&A past $125bn August 16, 2011 GOOGLE’S $12.5bn (£7.6bn) Motorola bid has lifted the global technology M&A total for the year to a lofty $125.7bn – the highest level of activity in the sector since before the financial crisis. Qatalyst Partners, fronted by dotcom godfather Frank Quattrone, has moved up to fifth in the tech advisory league-table after working on four [...]
BBC arm sells its magazines in £121m deal August 16, 2011 BBC Worldwide has sold its iconic magazines portfolio, severing its 88-year tie to the Radio Times. It has agreed to sell BBC Magazines, whose 62 titles worldwide include Gardens Illustrated and CBeebies, to Exponent Private Equity. It has also disposed of its 50 per cent shareholding in Indian joint venture Worldwide Media to media firm [...]
Sportingbet in sale talks over Turkish website August 16, 2011 SHARES in Sportingbet surged seven per cent yesterday after rival GVC Holdings said it is in exclusive talks regarding the possible purchase of Sportingbet’s Turkish business. Investors hope the sale, which will fetch around £35m, could smooth the way for Ladbrokes to take over Sportingbet. Ladbrokes made a preliminary offer for Sportingbet in June, but [...]
