What the other papers say this morning – 09 September 2013 September 8, 2013 FINANCIAL TIMES Capital warning from bank reformer The chief architect of Britain’s post-crisis regulatory reforms believes banks’ capital levels should be double the level recommended two years ago by the government-appointed commission that he led. Sir John Vickers told the Financial Times that in a “blue-skies” world banks’ core tier one capital ratios would now [...]
PwC prepares for new normal as revenues rise September 8, 2013 ACCOUNTANCY giant PwC has said it is adjusting to a “new normal”, where the economy grows more slowly and the group faces the prospect of losing out on audit work. The Big Four company, which today posted a three per cent rise in revenues to £2.69bn for the year to the end of June, said [...]
George Osborne to say Britain’s burgeoning recovery proves austerity was the right policy September 8, 2013 THE CHANCELLOR will today argue that spending cuts were the right policy and have helped get the UK back on the right track. George Osborne faced criticism for his plan to reduce the budget deficit, and argues the latest economic figures vindicate his approach. “The pace of fiscal consolidation has not changed, government spending cuts [...]
Uncertainty for Vodafone ahead of Kabel Deutschland deadline September 8, 2013 VODAFONE said last night it will not back down on its requirement that 75 per cent of Kabel Deutschland shares be tendered before the €7.7bn (£6.5bn) purchase of the German cable company goes ahead, as the crucial deadline looms on Wednesday, “There’ll be no change to the conditions set out in our earlier announcement,” Vodafone [...]
Investor ire over Bakrie-linked firm’s bid for oil September 8, 2013 SHAREHOLDERS in a Jakarta-listed energy firm with ties to the Bakries are calling for answers after the company made a $225m (£144m) offer for oil and gas assets that investors claim are also linked to the family. Energi Mega Persada (EMP), in which the Bakrie family holds a minority stake, has announced plans for a [...]
Assad denies chemical weapons use as US presses for Syria strike September 8, 2013 SYRIAN President Bashar al-Assad denied that he was behind a chemical weapons attack on the Syrian people, as the White House yesterday pressed ahead with the uphill effort of persuading Congress to approve a military strike to punish Assad. The Obama administration faces a crucial test vote set for Wednesday in the US Senate and [...]
Zoopla hires bankers to draw up options for sale September 8, 2013 PROPERTY search website Zoopla yesterday said it had hired investment bankers from Credit Suisse as it eyes a float or potential sale of the business. The company, which is controlled by Daily Mail General Trust, is understood to have commissioned the bank to draw up a list of proposals to determine the future of the [...]
Kitchen King lines up advisers for flotation September 8, 2013 THE OWNER of household appliances website AO.com – previously known as Appliances Online – is understood to have hired banks to work on a £300m flotation on the London Stock Exchange. John Roberts, the founder of DRL Limited, which owns AO.com, has reportedly hired Jefferies and JP Morgan to prepare the company for a listing. [...]
Bottom Line: Don’t get overexcited at the first signs of life September 8, 2013 THERE’S two ways to look at London’s initial public offering (IPO) market in light of the torrent of floats (about 15 at the last count) coming to market. One, that this is the natural release of pent up demand as market sentiment improves. Or two, that slightly frothy markets have got everyone a bit too [...]
PwC boss sees reasons to be cheerful in flat markets September 8, 2013 Chairman Ian Powell tells Marion Dakers about how the accountancy firm is seeking new sources of growth I’M slightly concerned,” says Ian Powell. “I thought that the activity in the transfer window was tense, and we have not gotten off to the best of starts.” The chairman of PwC UK might be harbouring doubts about [...]
