Yell investors put pressure on its lenders September 13, 2009 AILING directories publisher Yell is sounding out its shareholders for a rights issue of up to £500m, it emerged yesterday, as the company seeks to refinance its £3.8bn debt mountain. But investors will only support an equity raising if banks agree to relax the terms of a debt repayment programme, it is understood. In June, [...]
Thomson Reuters buys Abacus September 13, 2009 Thomson Reuters has said it is to buy tax-software firm Abacus Enterprise from Deloitte, in a deal expected to be worth around $45m (£27m). The group has snapped up the London firm, which supplies tax products to half the firms in the FTSE 100, as part of ongoing expansion of its professional services activities. Thomson [...]
Taiwanese Ponzi fraudster dies September 13, 2009 Financier Danny Pang, who was accused by US securities regulators of perpetrating a massive Bernard Madoff-style “Ponzi” scheme on mainly Taiwanese investors, has died, a family spokesman said on Saturday. Pang, 42, was taken to a California hospital near his home on Friday and later died, spokesman Charles Sipkins said. The cause of death was [...]
Boyer Allan co-head nets 23m September 13, 2009 Nicholas Allan, co-founder of hedge fund firm Boyer Allan, has raked in a small fortune during the financial crisis, it has emerged. Allan was paid £23m in 2008, as the credit crunch took hold, after making well-considered investment decisions that delivered profits to his investors. Allan, who owns a second home in Devon, is not [...]
France Telecom under pressure September 13, 2009 French Economy Minister Christine Lagarde yesterday called for bosses at France Telecom to meet urgently to tackle a wave of suicides at the former state monopoly. A spokesman for the Labour Ministry over the weekend said Labour Minister Xavier Darcos will meet chief executive Didier Lombard early this week to see what can be done [...]
Public rail is the future: poll by RMT September 13, 2009 RAIL union RMT will today release a poll showing 70 per cent of the public support the renationalisation of the railways, weeks before National Express’ East Coast Main Line franchise is set to be brought back under public control. Only 23 per cent of the 1017 people questioned support continued privatisation in the industry, the [...]
Knight Frank payouts fall as profits dip September 13, 2009 ESTATE agent Knight Frank yesterday insisted it was looking ahead to a “period of stability” after revealing a near 50 per cent fall in full-year pre-tax profits. The group, which advised on Nomura’s move to Watermark Place – the City’s biggest property deal this year – revealed underlying group profits had fallen to £33.2m in [...]
…but well-known bosses fail to make it this year September 13, 2009 SOME prominent women who appeared in last year’s Financial News 100 Women list have not been included in this year’s edition. Clara Furse stepped down earlier this year after eight years as chief executive of the London Stock Exchange and as a result exits the list. Investment fund manager Nicola Horlick has also lost her [...]
Regulators in force in City women list… September 13, 2009 MARGARET Cole and Verena Ross lead a quartet of women from the financial regulation sector making their first appearances on the Financial News’ list of 100 most influential women in finance, released today. The pair, both from the Financial Services Authority, are joined by Jane de Lozey from the Serious Fraud Office and Barbara Ridpath [...]
BILL OF THE WEEK September 13, 2009 HERE, ladies and gentlemen, is a Thursday night blow-out any alcohol connoisseur would be proud of. Our six diners ate baked sea bass, lamb biryani, tandoori prawns and duck on their trip to Mint Leaf Lounge in the heart of the City, though the wine and cocktail selection was where the real damage was done.They [...]
