Election all nighter? Nobody in the City partying like it’s 2008 November 6, 2012 IF New York is the City That Never Sleeps, perhaps London ought to be referred to as the City That Elected Not To Party last night. The Capitalist was extremely disappointed at the lack of US election all-nighters held in the City, particularly from the likes of Bank of America Merrill Lynch and Morgan Stanley [...]
Morgan Sindall boss departs on profit warning November 6, 2012 CONSTRUCTION group Morgan Sindall yesterday announced its chief executive would stand down as it warned on trading levels for this year. The boardroom shake-up saw chief executive Paul Smith resign with immediate effect, and executive chairman and former chief executive John Morgan appointed in his place. Senior independent director Adrian Martin will take up the [...]
Brit chip giants Imagination and ARM buy American rival November 6, 2012 BRITAIN’S two biggest chip designers, ARM Holdings and Imagination Technologies, yesterday spent $410m (£256.5m) carving up US challenger MIPS. ARM is leading a consortium spending the lion’s share of the money – $350m – on buying a warchest of 580 patents from the Silicon Valley company. The remaining $60m has been spent by Imagination on [...]
AngloGold halts operations at Mponeng mine due to sit-in November 6, 2012 OUTPUT at South Africa-focused AngloGold’s Mponeng mine ground to a halt yesterday as striking miners staged a sit-in. The gold miner has been forced to halt mining and processing activity, just two days after protesting employees returned to work. The strike that has plagued AngloGold since the end of September is still rumbling on, with [...]
Bowleven up on Petrofac oil alliance November 6, 2012 SHARES in Aim-listed oil and gas explorer Bowleven soared yesterday as it agreed an alliance with Petrofac to develop a project offshore Cameroon. Petrofac will provide the Africa-focused explorer, through its subsidiary Euroil, with up to $500m (£313m) towards the first stage of development and up to $60m towards well costs to develop the Etinde [...]
Knight and Barber join TfL November 6, 2012 FORMER banking advocate Angela Knight and outgoing TUC head Brendan Barber have been confirmed as new members of the Transport for London board. The pair will be joined by Brian Cooke, the former chairman of London TravelWatch and supporter of Boris Johnson. The Mayor said yesterday the trio will bring “considerable expertise” to the board when [...]
VW sells $2.5bn in a convertible note mega deal November 6, 2012 EUROPE’S biggest car manufacturer Volkswagen sold one of the largest convertible bonds on record yesterday, tipping the scales at €2.5bn (£2bn). The firm, which sells Audis and Porsches, lined up three heavyweight banks, Deutsche Bank, Bank of America Merrill Lynch and Credit Suisse, to sell the bond to investors around the globe. The bond, which [...]
Luxury carmaker BMW starts to feel pain despite rise in profits November 6, 2012 BMW, the world’s largest premium carmaker, warned yesterday it was starting to feel the pain of a sickly European market, overshadowing strong quarterly results and a forecast record annual profit. Chief executive Norbert Reithofer said conditions were weakening, after the German company posted a 14 per cent rise in third-quarter profit that beat analysts’ forecasts. [...]
British Airways helps boost IAG traffic by 3.2 per cent in October November 6, 2012 INTERNATIONAL Airlines Group yesterday posted a strong rise in October traffic, as a robust performance from British Airways made up for weakness at Spanish sister firm Iberia. Traffic, measured in revenue passenger kilometres, rose by 3.2 per cent versus October 2011, while passenger load factor – a measure of how well it fills its planes [...]
Low cost airlines Aer Lingus and EasyJet deliver passenger gains November 6, 2012 LOW COST carriers EasyJet and Aer Lingus posted passenger growth for October yesterday, though both showed signs of slowing momentum. EasyJet said passenger traffic rose 6.2 per cent to 5.25m in October, but this growth is lower than the seven per cent increase seen over the past year. The carrier’s load factor, a measure of [...]
