London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Investor backs Bumi as battle reaches climax February 19, 2013 BUMI yesterday inched closer towards defeating Nat Rothschild at the long-awaited boardroom battle tomorrow, as institutional share-holder Standard Life Investments spoke out in favour of the board. Standard Life Investments, which owns 2.17 per cent of the share capital of Bumi, said it would vote against co-founder Rothschild’s board proposals at the meeting. He has [...]
Einhorn could win Apple suit February 19, 2013 A US judge said yesterday that David Einhorn’s hedge fund had shown a “likelihood of success” if his legal attack against Apple goes forward, though he made no immediate ruling on whether to block next week’s shareholder vote on a proxy proposal. Einhorn wants to stop a vote on one of Apple’s shareholder proposals, which [...]
Spanish builder goes bankrupt February 19, 2013 SPANISH real estate company Reyal Urbis filed for insolvency yesterday after failing to renegotiate debt with its creditors, the latest victim of Spain’s property market crash. The move takes the property developer closer to becoming Spain’s second-largest bankruptcy after Martinsa Fadesa, which defaulted in 2008. Dozens of property companies have collapsed in Spain, where house [...]
Markets reach five-year highs February 19, 2013 MARKETS hit their highest levels for five years yesterday, as optimism on further big M&A deals and bullish German sentiment ignited confidence. The Dow Jones index rose to 14,035.67, the highest level seen for more than five years, while the FTSE 100 reached its highest level since the financial crisis struck, reaching 6,379. The pound [...]
Linklaters scores Singapore law licence but 19 firms miss out February 19, 2013 SINGAPORE has granted four international law firms the right to practice in the city state, in only the second round of licences to be awarded since it liberalised its legal system in 2008. Linklaters, Sidley Austin, Gibson Dunn & Crutcher and Jones Day all won approval to practice Singapore law including corporate, project finance and [...]
Dell’s profits fall ahead of $24bn buyout deal February 19, 2013 DELL’S profits fell by almost a third in the final quarter of 2012, the company revealed last night, in what may well be its final public report before the computer maker is taken private. The firm, which is set to be bought out by founder Michael Dell and private equity company Silverlake Partners for $24bn [...]
Our pensions time bomb is the worst in the world February 19, 2013 UK WORKERS are worryingly under-prepared for retirement, data out this morning has revealed, with many predicted to run out of savings just seven years after leaving work. The UK came at the top of a table of the world’s worst savers, with the average Briton facing a financial shortfall of 63 per cent over the [...]
Eurotunnel’s ferry deal runs into competition headwinds February 19, 2013 THE COMPETITION Commission yesterday raised concerns that Eurotunnel’s purchase of defunct SeaFrance’s ferries could drive up fares for passengers. Eurotunnel bought three of SeaFrance’s four boats for €60m (£52m) last year with the aim of launching its own English Channel ferry service. The Office of Fair Trading referred the deal to the watchdog. The Competition [...]
Higher bonuses can’t halt fall in lawyer payouts February 19, 2013 LAWYERS saw their total pay pack- ages fall by five per cent last year, as rising bonus payouts failed to stem the drop in average salary. Total remuneration for lawyers in 2012 came in at £139,040, down from £146,500 in 2011 according to recruiters Laurence Simons. Though bonuses edged up very slightly to £35,000, it [...]
UK trade bodies call for solution to energy crisis February 19, 2013 ENERGY groups yesterday called for more technological investment to solve the UK’s looming crisis after warnings from regulators a future squeeze on production will cause price hikes for consumers. The chief executive of energy watchdog Ofgem, Alistair Buchanan, yesterday warned a fall in the UK’s power production over the next few years would lead to [...]
