Pressure on Murdoch mounts ahead of News Corp meeting October 14, 2012 RUPERT Murdoch is facing increasing pressure to split his role as chief executive and chairman of News Corp ahead of the media giant’s annual meeting tomorrow, with several investors set to vote for Murdoch to step down from one or both roles. Shareholder advisory body Pirc joined calls for a division of powers at News [...]
Concordia ship captain to face Italian hearing October 14, 2012 THE captain of the stricken Costa Concordia cruise ship will attend pre-trial hearings this week where experts will present analysis of the events that led to the vessel hitting a rock off the Italian coast in January, killing 30 people. The luxury cruise liner has been sitting half-submerged on the sea floor near the Tuscan [...]
US and French bodies set to charge Google October 14, 2012 GOOGLE is facing new probes from prosecutors on both sides of the Atlantic, with US and French officials set to add to an EU investigation into the web giant. The French information commissioner’s office, CNIL, is this week set to reveal the outcome of a months-long probe into Google over its use of personal data [...]
Retailers and card companies gear up for new clash on fees October 14, 2012 VISA, Mastercard and a group of retailers plan to ask a judge this week to approve a landmark settlement of a lawsuit over credit card fees, setting the stage for a battle with Wal-Mart and hundreds of other merchants who say it is a bad deal. Announced in July, the $7.2bn (£4.5bn) settlement is intended [...]
Goldman to swing to profit October 14, 2012 US BANKS are expected to report strong revenue figures this week, in part thanks to the boost to the mortgage market from the Federal Reserve’s latest round of money printing. Goldman Sachs will report its third quarter results tomorrow, and is expected to turn 2011’s third quarter loss of $393m (£245m) into a solid profit [...]
M&A stifled by the failure of firms to plan beyond deals October 14, 2012 COMPANIES undergoing mergers & acquisitions are jeopardising their growth prospects by giving “little or no focus” to the nuts and bolts of post-merger life, according to a new study by Eversheds published today. Almost half (43 per cent) of companies questioned by the international law firm blamed the failure to address “post deal integration” when [...]
Season of mellow fruitfulness and energy price rise myths October 14, 2012 I LOOKED out at the frost on my lawn yesterday and thought about the joys of autumn. The golden leaves falling from the trees, the mist on your breath on long walks, log fires in a local pub and, most predictable of all, the seasonal skewering of us consumers by the energy suppliers. Yes, last [...]
Time to banish all your Black Monday blues October 14, 2012 AS this week marks the anniversary of Black Monday, the tempestuous stock market crash of 19 October 1987, The Capitalist took a metaphorical stroll down memory lane with some of those who rode out the storm. It seems that for those who lived through what is often considered the worst stock market crash in living [...]
Win champagne Spot the City landmark October 14, 2012 THERE is just over a week to go until the St John’s Ambulance flagship black-tie City quiz evening, which will be raising funds for the life-saving work of the charity. The event is a fabulous evening of champagne, fine dining and general knowledge challenges, including a three-course dinner, created by Mossiman’s, and a selection of [...]
Income growth at lowest level since late 2010 October 14, 2012 CONSUMERS came in for a hammering in September, data from Lloyds TSB showed today, as annual income growth hit its lowest level since December 2010. Real discretionary spending power dived 0.9 per cent last month, after 2.2 per cent growth in August, leaving consumers with around £100 a year less to spend on non-essential items, [...]
