Success for UK in fight to curb Brussels rules September 12, 2013 BRITAIN took a vital step towards curtailing the power of European financial regulators yesterday after a court ruled EU efforts to curb short selling gave away too much power to Brussels. A high ranking legal opinion from the European Court of Justice (ECJ) said the bid by EU-wide financial watchdog the European Securities and Markets [...]
Carney vows he will get tougher on high inflation September 12, 2013 INFLATION must be a priority for the Bank of England, its new governor told MPs yesterday, promising to do a better job of forecasting future price rises. Mark Carney also said he would be “vigilant” in making sure Britain’s booming housing market does not get out of control and cause another bust. And the governor [...]
Twitter’s float reminds us why we must privatise the Royal Mail September 12, 2013 COUNT on Twitter, that most modern of communication companies, to steal the thunder of the Royal Mail, an organisation founded by Henry VIII and now aiming to reinvent itself as a privatised, modern parcel delivery firm. For most of yesterday, the Royal Mail was the big story: the coalition confirmed the firm would be sold [...]
What the other papers say this morning – 13 September 2013 September 12, 2013 FINANCIAL TIMES Cameron crackdown on music piracy David Cameron has appointed a former music industry executive as his adviser on intellectual property, setting the stage for a government crackdown on copyright infringement. Mike Weatherley, MP for Hove and Portslade and former finance director for Pete Waterman’s entertainment businesses, will take on the newly created role [...]
Dell finally goes private as vote on deal passes September 12, 2013 STRUGGLING PC manufacturer Dell has been taken private, after investors gave the nod to a $25bn (£16bn) deal led by founder Michael Dell. Shareholders voted to accept Michael Dell’s offer of $13.88 a share yesterday at a special shareholder meeting. “I am pleased with this outcome… As a private enterprise, with a strong private equity [...]
Lehman claims roll on in Europe September 12, 2013 DESPITE collapsing nearly five years ago to the day, Lehman Brothers’ creditors are moving closer to recovering their claims, according to PwC. Lehman’s European arm has paid £652m to administrators who are tasked with attempting to resolve one of the most complex bankruptcies in history. However, this is only 2-3 per cent of what the [...]
US-Russia talks on Syria begin September 12, 2013 The US and Russia began high-stakes talks yesterday on Moscow’s plan for Syria to surrender its chemical weapons as Damascus applied to join a global ban. Talks in Geneva are part of a diplomatic push that prompted President Barack Obama to put on hold his plans for US air strikes in response to a chemical [...]
Hilton checks in with $1.25bn flotation plans September 12, 2013 STOCK market investors got the chance to book into Hilton Worldwide again yesterday after its owners announced plans to release it from private hands with a market float The hotel chain’s owners, Blackstone, will sell the business in a public offering of shares hoping to net $1.25bn (£790m), it announced yesterday. Deutsche Bank, Goldman Sachs, [...]
Vodafone seals 11th hour vote to pass Kabel Deutschland deal September 12, 2013 TELECOMS giant Vodafone has secured the support of three quarters of Kabel Deutschland’s shareholders, reaching the level required for a sale to go ahead. Vodafone offered €87 (£73.23) per share, along with a €2.50 dividend to Kabel Deutschland’s investors. Shareholders that have not yet taken Vodafone’s offer will be able to between the 17 [...]
New report points to delays and abuse of UK entrepreneur visa September 12, 2013 A HUGE backlog of entrepreneur visas has overwhelmed the UK’s immigration system, according to a report published yesterday by the independent chief inspector of borders and immigration. John Vine’s report found that the number of applications for entrepreneur visas rose by 1,520 per cent between February and December last year. The backlog was highest at [...]
