‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Canada open to selling Chrysler stake to Fiat May 30, 2011 Canada is open to selling its 1.7 per cent stake in Chrysler directly to Italy’s Fiat, but will wait to see what price the US government gets for its shares in the automaker before deciding, Canada’s finance minister Jim Flaherty said yesterday. Fiat took operational control of Chrysler as part of the Detroit-based automaker’s US [...]
RTL signs Indian joint venture May 30, 2011 RTL Group and Indian media conglomerate Reliance Broadcast Network Limited yesterday announced a joint venture agreement to launch a series of new TV channels in India. The initial investment will include two English-speaking channels; a reality channel with international content and a channel primarily targeting male viewers with action-oriented content. The joint venture will source [...]
Adidas braced for sales dip May 30, 2011 SPORTSWEAR giant Adidas said it is braced for further blows to its sales in Japan if there are more power cuts over the summer. The German company said that although the earthquake and nuclear crisis at the Fukushima plant “could have been worse” the state of the country’s power network was unclear. Adidas has said [...]
Why risk assets need another shot in the arm May 30, 2011 Equity markets have been caught in a gloomy place for much of May. Despite some gung-ho risk-on days, the overall trend for risk assets has been lower. Sean Corrigan from Diapason Commodities Management still thinks we might not be through the worst of the energy sell-off. But he says risk assets are looking for another [...]
Kensington and Chelsea has most £1m plus house buyers in London May 30, 2011 THE borough of Kensington and Chelsea saw the highest number of £1m plus property sales in London last year, according to figures revealed today by specialist private bank Investec. A total of 4,530 properties sold for over £1m in 2010 with 912 of them sold in Kensington and Chelsea alone. City of Westminster saw 790 [...]
Shock lift for Russia’s rates May 30, 2011 RUSSIA’S central bank surprised markets yesterday by hiking its overnight deposit rate by a quarter of a percentage point, to 3.5 per cent. Its other rates were held steady, as expected, the key refinancing rate sticking to 8.25 per cent and the repo rate at 5.5 per cent. “The decision was made taking into account [...]
Leighton set to chair Pace May 30, 2011 UK BUSINESS veteran Allan Leighton is set to take up the chairmanship of struggling TV set-top box maker Pace over the next few days. Leighton has been lined up to replace Mike McTighe, who has been chairman since 2006. His appointment will be announced by the company this week, City A.M. can confirm. The news [...]
Fortis unveils $700m plan for Vermont electricity company May 30, 2011 CANADIAN utility Fortis unveiled its $700m (£425m) purchase of the Central Vermont Public Service Corporation (CVPS) yesterday, as the firm charges ahead with its ambitious growth plans. Fortis will pay $35.10 per share in cash for New York-listed CVPS, as well as taking on $230m of the firm’s debts. The purchase price represents a 44 [...]
European Commission probes May 30, 2011 EU regulators opened in-depth probes yesterday into two takeover bids in the computer hardware sector involving two Asian companies and two US peers, saying it was concerned the deals would reduce the number of rivals. US-based Seagate Technology has said it wants to buy Samsung’s loss-making hard disk drive unit for $1.4bn (£849m). Western Digital [...]
Korea sees Edwards expand May 30, 2011 Vacuum pump company Edwards shrugged off its failed London float attempts yesterday with the opening of a new manufacturing site in South Korea. Business secretary Vince Cable and British ambassador Martin Uden took part in the opening ceremony yesterday, as part of Cable’s tour around the country to meet with government ministers and UK companies [...]
