Heritage to sell remaining interest in Kurdistan to Genel November 12, 2012 Heritage Oil said this morning it planned to sell its remaining 49 per cent interest in a field in Kurdistan to Genel Energy to repay a $294m (£185m) loan. Heritage will sell its stake in the Miran gas field in a deal that will see it exiting Kurdistan and focusing on a new project in [...]
BBC’s senior news executives step aside November 12, 2012 Two senior BBC news executives stepped aside this morning, just a day after the chairman said the broadcaster needed a radical overhaul. Director of BBC News Helen Boaden and her deputy Steve Mitchell stepped aside, following director-general George Entwistle’s resignation on Saturday to take the blame for airing false child sex abuse allegations against a [...]
Housebuilders report steady trading November 12, 2012 Housebuilders Taylor Wimpey, Redrow and Bovis Homes this morning said trading remained steady, despite challenging market conditions in the UK. Taylor Wimpey said sales in the second half of this year were similar to the same period in 2011. The housebuilder added that it welcomed the government’s NewBuy scheme, and that it had generated “strong [...]
Japan economy declines by annualised 3.5 per cent November 12, 2012 Japan’s economy shrank by 3.5 per cent year on year over the three months to September, official data showed this morning. Japanese GDP fell by 0.9 per cent over the three months, and was in line with expectations. While US growth showed a modest uptick in the third quarter, Japan and the Eurozone economies are [...]
BBC under fire November 12, 2012 THE BBC was thrown into disarray yesterday as it attempted to limit the fallout from the scandal that saw director-general George Entwistle resign over the weekend. BBC Trust chairman Lord Patten, who appointed Entwistle to the top role at the corporation, said the future of the BBC was at stake if the broadcaster did not [...]
Bonuses slashed again as City of London set for collapse to third place in financial league table November 12, 2012 THE UPCOMING bonus season is set to be the worst in over a decade, according to figures out today – with City payouts set to collapse even further in the next five years. London has also now fallen behind New York and is about to be overtaken by Hong Kong in terms of the number [...]
London business activity dives as growth dwindles November 12, 2012 THE UK looks set to crash back into contraction in the fourth quarter, as data out today reveals a fall in business activity in London and across the country. The collapse in London is especially worrying – it dived on the Lloyds purchasing managers’ index (PMI) business survey from 52.1 to 49.1 – a 42-month [...]
It is time for the BBC to allow its viewers freedom to choose November 12, 2012 WHAT a mess. The BBC, Britain’s most powerful and influential media company, is in crisis; the resignation of its director general hasn’t been enough to halt the chaos. Radical changes are needed to reform, strengthen and preserve the BBC; if Lord Patten, the chairman of the BBC Trust, doesn’t want to introduce them then he [...]
UK vow to fight EU crackdown on bonus pay November 12, 2012 BRITAIN is set for another row with the EU over financial services, as the government plans to reject plans for a cap on bankers’ bonuses at a key meeting today. European leaders want bonuses – including cash and shares – to be capped at three times basic salary, with the cash component limited to the [...]
What the other papers say this morning November 12, 2012 FINANCIAL TIMES KKR launches funds for individuals KKR – the private equity group immortalised as the Barbarian at the Gate – is launching two investment funds to be distributed to individuals by Charles Schwab, the US brokerage. It is the latest sign of the pressure on private equity firms to become more like traditional asset [...]
