BAA chair robbed at knifepoint May 26, 2011 Sir Nigel Rudd and his wife Lesley were said to be shaken but recovering yesterday after being held up in their Belgravia home by men armed with knives who stole valuables. The men, wearing stockings over their heads, held up the Rudds when they returned to their £7m home at about midnight on Monday after [...]
UBS rebuffs a Swiss exit May 26, 2011 UBS has no plans to move its headquarters out of Switzerland, chief executive Oswald Gruebel said yesterday in response to a flurry of reports that the bank could re-domicile under pressure from Swiss regulators. But he did not deny reports that UBS is looking into a way of hiving off its investment bank or other [...]
LSE’s Rolet criticises hostile bid May 26, 2011 London Stock Exchange chief executive Xavier Rolet poured scorn on Canada’s Maple Group yesterday after it said it would pursue a hostile bid for the Toronto Montreal Exchange (TMX). Rolet dismissed the revised offer as almost identical to what the TMX board rejected last week and warned that any deal would leave the Canadian exchange [...]
G8 countries to warn Greece over its massive debt burden May 26, 2011 THE G8 leaders raised the alarm yesterday about government debts weighing down the world economy but pledged at a meeting in France to find funds to help new Arab democracies. Japan’s deputy chief cabinet secretary, Tetsuro Fukuyama, told reporters the G8 agreed Greece must do more to sort out its finances and work with the [...]
Terra Firma debt talks go slow May 26, 2011 Guy Hands’ private equity firm Terra Firma is making slow progress on refinancing a complex €5.1bn (£4.4bn) securitised loan in its German property group Deutsche Annington, as details of the bondholders’ voting rights emerge, City A.M. learned yesterday. Terra Firma has started the process of refinancing the debt despite it maturing only in 18 months. [...]
Support for Conservatives dips as optimism for economy fades May 26, 2011 UK SUPPORT for the Conservative Party has fallen slightly but most people do not believe the Labour opposition is ready to govern, blaming it for the country’s economic woes, an opinion poll showed yesterday. The May Reuters/Ipsos Mori Political Monitor showed Labour up two points since last month on 42 per cent, while support for [...]
CITY VIEWS: ARE YOU OPTIMISTIC ABOUT THE G8 SOLVING THE GREEK CRISIS? May 26, 2011 LUKE WILDS | PICKTHORN “Well, Greece needs a stronger economic policy and the solution needs to come from within the country. As they are in the EU we’re obliged to help them but we can’t keep bailing them out.” MARCUS RICCOBONI | RSA “No, I think we should leave them alone as we can’t continue [...]
Borthwick revels in Sarries success May 26, 2011 FORMER England captan Steve Borthwick claims his success with Saracens this season has helped ease the pain of his international exile. The 31-year-old is no longer part of Martin Johnson’s England set-up but has played a key role in hauling the London club into tomorrow’s Premiership final. He said: “Every player wants international recognition but I [...]
Minerva gets £194m cash takeover bid May 26, 2011 TROUBLED property developer Minerva yesterday confirmed it has received a preliminary cash offer valuing it at £194m. The bid for the Walbrook developer is from a consortium of firms led by Jamie Ritblat’s Delancey Real Estate Asset Management. One Minerva investor told City A.M. the bid is “an interesting offer”, saying: “Something has to happen [...]
The property dynasty May 26, 2011 JAMIE Ritblat has long emerged from the strong shadow of his property tycoon father John. He became a well-known name in the City in his own right after his successful management buyout of the publicly owned Delancey Real Estate Asset Management firm in 2001. He has since been behind a string of high profile property [...]
