US housing collapse: lessons for the UK May 26, 2009 IF you thought Britain’s house price collapse has been dramatic, wait until you look at America’s. The latest US house price figures reveal that the once booming city of Phoenix, Arizona, has suffered an astonishing 53 per cent collapse in prices since their peak in June 2006. Prices in Las Vegas are also down by [...]
Provident: no to clawback May 26, 2009 ONE of the companies that suffered a dramatic shareholder revolt over executive pay earlier this month has said it has no plans to claw back directors’ pay. Provident Financial, the specialist lender which got into trouble with shareholders after it awarded a 19.6 per cent pay rise to its chief executive Peter Crook and a [...]
Shell set for a shake up May 26, 2009 SHELL is preparing for a massive shake-up under its incoming chief executive Peter Voser. The changes are expected to include the merging of the gas and power, and exploration and production divisions of the company. The news comes as gas and power boss Linda Cook unexpectedly stood down under “mutual consent”.
Facebook in $200m deal May 26, 2009 FACEBOOK chief executive Mark Zuckerberg said last night that Russian internet investment group Digital Sky Technologies (DST) had made a $200m (£126m) investment in the social networking site. DST will receive a 1.96 per cent stake in preferred stock, valuing the company at $10bn – $5bn less than when Microsoft bought its stake in 2007.
GM ON THE BRINK OF BANKRUPTCY May 26, 2009 CAR giant General Motors (GM) was last night teetering on the brink of bankruptcy, as it failed to win enough support for a $27.2bn (£17bn) debt-for-equity deal with its bondholders. Creditors had until midnight US time last night to accept a deal which would give them 10 per cent in a restructured GM, in return [...]
AT A GLANCE May 26, 2009 &9679; Of the previous three European Cup finals to be held at the Stadio Olimpico, two have been won by English sides (both Liverpool) and two have needed penalties to find a winner, including one of Liverpool’s wins &9679; United are the first defending champions to reach a Champions League final since Juventus in 1997 [...]
European champions set to claim 100m windfall May 26, 2009 VICTORY in tonight’s Champions League final is worth more to Manchester United than mere sporting glory – the winners stand to make a cool £100m. The figure takes into account prize money, more lucrative sponsorship deals and television rights, an increase in squad value and a boost to season ticket sales. Even if they lose [...]
United should have the edge in a feast of stylish football May 26, 2009 WHEN it comes to defining the ‘beautiful game’, it really doesn’t come any sexier than Barcelona versus Manchester United. With Europe’s two best sides locking horns and less than the width of a cigarette paper separating them, tonight’s Champions League showdown in Rome is set to be the most exciting for many, many years. Unlike [...]
Adebayor: I want to stay at Arsenal May 26, 2009 ARSENAL striker Emmanuel Adebayor insists he remains committed to staying in north London, despite seeming destined to move on this summer. Adebayor missed Sunday’s victory over Stoke with an injury some conspiracy theorists thought convenient, and admits he is flattered by interest from AC Milan. “If a club like Milan are interested in me then [...]
Guilty Ashley issues apology for relegation ‘catastrophe’ May 26, 2009 NEWCASTLE owner Mike Ashley last night sensationally apologised to the club’s fans for the mistakes which led to the “catastrophe” of relegation from the Premier League. The sportswear magnate issued a club statement acknowledging the errors of his ways which contributed to the club’s losing their top-flight status after 16 years. At the same time, [...]
