CDS market opening up March 23, 2010 THE Greek debt crisis and the role played by Goldman Sachs has forced legislators internationally to work on new rules to regulate the $450 trillion (£299 trillion) privately traded derivatives markets. Governments want regulators to have access to trade information in the markets, including positions held by large counterparties. Depository Trust & Clearing (DTCC) will [...]
Eat chewing over sale March 23, 2010 Eat sandwich chain owner Penta Capital is in early stage talks with a single party to sell at least part of the business, which provides a popular eating spot for City workers. The chain, which was set up 14 years ago by Niall and Faith MacArthur then sold to Penta, now has more than 100 [...]
Daimler charged with bribery March 23, 2010 Daimler was charged yesterday by US prosecutors with bribing foreign officials in order to win business deals.
Tory lead increases by 1 point March 23, 2010 The Conservative lead in the upcoming election remains at four points, according to the YouGov/Sun daily poll. The Tories are on 37 per cent (up one per cent), Labour is on 33 per cent (up one per cent) and the Liberal Democrats are on 18 per cent (down two per cent). There has been little [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 23, 2010 FINANCIAL TIMES POKER PROVES TOUGH GAMBLE FOR 888 888 Holdings took a near 30 per cent hit on poker revenues last year, but the online gambling operator said it was confident of tapping into its well of social players and predicted a return to poker growth in the second half of 2010. Poker was the [...]
Network Rail, British Gas set to strike March 23, 2010 NETWORK Rail and British Gas joined the ranks of British Airways (BA) yesterday after staff at the two companies voted in favour of a strike action. Network Rail sat down with the Rail, Maritime & Transport (RMT) union yesterday to come to an agreement over a proposal by the rail operator to cut 1,500 maintenance [...]
EX-GOLDMAN CHAIR TO HEAD MF GLOBAL March 23, 2010 JON Corzine, a one-time Goldman Sachs chair and former New Jersey governor, was yesterday named as the new chief executive officer of MF Global Holdings, a futures and options broker that has lost money for the last four quarters. MF Global shares soared nine per cent on the news that Corzine, 63, would replace Bernard [...]
Boots refuses to back Hewitt after lobbygate March 23, 2010 ALLIANCE Boots is refusing to back special consultant Patricia Hewitt, after she was sensationally suspended from the Labour Party over the cash for lobbying scandal. A spokesperson for the leading pharmacy chain said her contract was “still in place” and that it was being “reviewed regularly”, but she would not confirm that the former health [...]
L&G looks to new climes as profit returns March 23, 2010 LEGAL & General is casting its eyes to emerging markets for more joint ventures after a forecast-smashing set of final results saw the insurer swing back into the black. The group delighted investors with a surprise 33 per cent boost to its final dividend, which brought the total payout to 3.84p. Higher mortality rates and [...]
Good news, but uncertainties persist March 23, 2010 LEGAL & GENERAL was in a bullish mood yesterday, charging back into the black with a £1.2bn pre-tax profit under IFRS standards thanks to a barnstorming performance at its UK risk business. Worries over capital levels were also eased, after net cash generation rose 118 per cent to £699m, ahead of the £450m target announced [...]
