Clegg under fire after calls for infrastucture spending September 14, 2011 DEPUTY Prime Minister Nick Clegg’s proposals to boost the economy by prioritising infrastructure spending were rejected by several economists and business leaders yesterday. Clegg’s plans for speeding up spending on projects like Crossrail and boosting the M25’s capacity “will not bring about growth,” warned Mark Littlewood from the Institute of Economic Affairs (IEA). “What we need [...]
Clarke challenges EU on plans for a unified European contract law September 14, 2011 JUSTICE secretary Ken Clarke yesterday poured scorn on EU plans to harmonise contract law across Europe, calling the initiative “unnecessary, disproportionate and damaging”. In a wide-ranging speech, during which he outlined an “action plan” to promote UK legal services across the globe, Clarke said efforts to establish a unified law across the single market would [...]
PUBS WAR CAN WAIT AS JOE LEWIS EXPECTS NEW GREAT-GRANDCHILD September 14, 2011 ALL EYES remain on financier Joe Lewis, whose surprise appearance in London on his superyacht Aviva ten days ago has been satisfactorily explained by this week’s hostile move to take control of pub chain Mitchells & Butlers. Case closed. Or is it? As ever with the enigmatic Bahamas-based billionaire, the truth is rather more surprising [...]
Danone dairy chief to run Louis Vuitton September 14, 2011 LOUIS Vuitton, the star brand within the world’s biggest luxury group LVMH, yesterday unveiled a succession plan which will see a former Danone executive, Jordi Constans, take the executive reins as of 2013. Yves Carcelle, 63, chief executive of the French leather goods maker since 1990, will remain on the executive board of LVMH and [...]
Cairn gets the nod from shareholders September 14, 2011 ENERGY explorer Cairn yesterday came a step closer to completing its $6.5bn (£4.1bn) Indian asset sale, after its shareholders gave their blessing to the disposal. The FTSE 100-listed firm has been trying to sell Cairn India, which operates oil fields off the coast of Rajasthan, for more than a year but has encountered numerous roadblocks [...]
Brevan leads listed hedgies September 14, 2011 BREVAN Howard’s BH Macro fund is the best performer of UK listed hedge funds, adding 15 per cent to its net asset value in the year to date, Numis analysts said yesterday. Performances across the sector were mixed but still helped insulate investors from stock market turbulence. All but the Dexion Equity Alternative outperformed the [...]
Ryanair hits out at Aer Lingus September 14, 2011 RYANAIR attacked the board of Irish airline Aer Lingus yesterday, demanding it ask shareholders their views on three issues in a bid to rebuild value at the company. Ryanair, currently one of the biggest shareholders in Aer Lingus, said investors should decide whether they receive an €0.20 per share special dividend to compensate for the [...]
Entertainment One soars on bid interest September 14, 2011 SHARES in Entertainment One leapt by up to 25 per cent yesterday after the Peppa Pig owner confirmed it was mulling a sale, adding almost £75m to the company’s market capitalisation. Entertainment One said yesterday it was “considering its strategic options… in response to interest it has received from various parties”. Though a spokesperson for [...]
Barratt posts its first profit in three years September 14, 2011 BARRATT Developments, the UK’s biggest housebuilder, hailed its first underlying profit in three years yesterday, helped by higher selling prices, and expects to make further progress despite a sluggish housing market. The group reported a full-year profit before tax and exceptional items of £42.7m compared with a loss of £33m in 2010, beating market estimates. [...]
Galliford Try’s earnings jump September 14, 2011 CONSTRUCTION and housebuilding firm Galliford Try has posted a 34 per cent jump in full-year adjusted pre-tax profit, beating expectations, driven by its focus on southern England. Galliford, whose projects this year include restoring London’s St Pancras Chambers and the athletes’ village at the Olympic Park, said pre-tax profits for the financial year came in [...]
