Andy Coulson wins fee appeal November 28, 2012 Andy Coulson, the former director of communications for David Cameron, yesterday won a legal battle against the owner of the Sun and the now-defunct News of the World, where Coulson was an editor. News Group Newspapers will now have to pay Coulson’s legal fees related to allegations of illegal activity after he successfully appealed a [...]
Telefonica cuts debt with swap November 28, 2012 Spain’s Telefonica said yesterday it would slash €776m (£626m) from its €50bn debt after receiving 97 per cent uptake in a swap of preference shares for stocks and bonds. The cash raised will take the Spanish telecoms group closer to its year-end leverage target of 2.35 times operating income. The firm, which must slash debt [...]
Ford set to delay new minivans November 28, 2012 Ford may delay the next versions of the Galaxy and S-MAX minivans as it plans to shut a factory in Genk, Belgium, where the vehicles are made, German magazine Auto Motor und Sport reported yesterday. Ford said on 24 October that it plans to close the Genk factory employing about 4,300 workers by the end [...]
United Utilities gets boost from higher pricing November 28, 2012 UNITED Utilities yesterday said price rises had enabled it to report higher revenues yesterday, keeping the UK’s largest listed water utility on track to meet its targets. Revenue increased 3.8 per cent to £823m in the six months to the end of September, thanks to a 5.8 per cent price increase permitted by British water [...]
Talvivaara production under scrutiny after mine restart stalls November 28, 2012 NICKEL miner Talvivaara yesterday postponed the restart of mining in Sotkamo, Eastern Finland by half a year to mid-2013, raising concern over its future metals production. The Finnish company, which pioneered a technique to extract nickel using bacteria, has been hit by a series of problems in the past year, including waste water leakage, production [...]
Smith & Nephew buys skin heal firm in bid to dominate sector November 28, 2012 MEDICAL technology firm Smith & Nephew yesterday continued its push into the wound healing market by striking a $782m (£487.5m) deal to buy a US company specialising in spray-on treatment for cuts and grazes. The FSTE 100 listed company will buy the assets of Texas-based Healthpoint Biotherapeutics in a $782m all cash deal as it [...]
Telford quadruples profit on the back of Olympics success November 28, 2012 EAST London developer Telford Homes yesterday reported a fourfold increase in pre-tax profits driven by a step up in demand for its properties on the back of the Olympics. The group has sold £60m of new homes at its Stratford Plaza development near Westfield shopping centre which is due to be completed in 2015. Some [...]
Canada says it is still examining options on potential CNOOC bid November 28, 2012 THE Canadian government is still mulling its options as deadlines near on two proposed foreign takeovers of domestic energy companies, but an official offered no clues on when or how Ottawa would announce the hotly debated decisions. Andrew MacDougall, spokesman for Prime Minister Stephen Harper, did not comment on a report that the federal government [...]
Saudi postpones aviation licences November 28, 2012 Saudi Arabia’s General Authority for Civil Aviation (GACA) has postponed awarding new carrier licenses until the end of this year as it needs more time to evaluate the bids, it said in an emailed statement yesterday. The winning bids were expected by the end of November. “(GACA) needs more time to choose the best operating [...]
Groupon chief offers to resign November 28, 2012 Groupon chief executive officer Andrew Mason, under fire for a plunging share price and tapering growth, said yesterday he would agree to step down if needed, as the struggling company’s board prepared to debate whether he remains the right leader. Mason, responding to reports that the board of directors will discuss his performance during a [...]
