America’s Cup start delayed February 8, 2010 SAILING: The opening race of the 33rd America’s Cup between Swiss holders Alinghi and American challengers BMW Oracle was postponed yesterday due to a lack of favourable winds. The crews were forced to wait off the coast of Valencia for four hours until the race was eventually called off and rescheduled for tomorrow. This year [...]
Super Steyn stuns India February 8, 2010 CRICKET: Dale Steyn produced an outstanding display of pace bowling to help South Africa take control of the first Test with India in Nagpur. Steyn blitzed through the Indian batting line-up to finish with figures of 7-51 as the hosts collapsed from 221-4 to 233 all out in reply to South Africa’s 558-6 declared. Virender [...]
London ‘leading the UK out of recession’ February 8, 2010 LONDON is leading the UK out of recession, new economic data has suggested. The Purchasing Managers Index (PMI) shows that the capital was the strongest performer last month. The index for London, based on a survey of 1,200 manufacturing and service sector firms, was at 60.6. Any number above 50 is a sign that the [...]
Santander plans London flotation February 8, 2010 SPANISH banking giant Santander may list its British and US operations on the stock market to free up cash for expansion. Abbey, Alliance & Leicester and the savings arm of Bradford & Bingley could return to the market at a joint value of £15bn under the plan, which is one of a number of capital-raising [...]
Xstrata resumes dividends despite profit drop February 8, 2010 MINING group Xstrata is re-introduce dividend payments despite reporting a fall in full-year profits. The company’s pre-tax profits fell to $1.87bn (£1.2bn) in 2009 – down from $6.05bn the previous year. One-off costs and lower commodity prices hit the company’s profits. But it said the medium-term outlook for commodity demand remained “very promising”. Xstrata scrapped [...]
Ethel Austin plunges into administration February 8, 2010 CLOTHING retailer Ethel Austin has gone into administration. The 300-strong chain will continue trading as normal whilst a search is made for a new buyer, administrators MCR said. Redundancies have not been ruled out and MCR admitted there were “no guarantees” that a buyer could be found in the hard-hit retail sector. Administrators blamed the [...]
Eurozone’s tough time continues February 8, 2010 THE eurozone faces another difficult week amid mounting worries over budget deficits in Greece, Spain and Portugal. Finance ministers from the G7 countries meeting in Canada at the weekend insisted on a European solution to the problems rather than an IMF rescue. “We told our partners we had to solve the problem ourselves,” said Jean-Claude [...]
BofA and SEC back to court February 8, 2010 BANK OF AMERICA (BofA) is set to return to court in New York today to find out if its settlement with the Securities and Exchange Commission (SEC) will be approved. It is round two for the bank, as a similar deal between the SEC and BofA was rejected six months ago by district judge Jed [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 8, 2010 THE SUNDAYS The Sunday Telegraph MANDELSON ATTACKS US AND EUROPE The full scale of world tension between governments over the way to deal with the banking crisis has been revealed today after Peter Mandelson, the business secretary, said that neither America nor the European Union had shown global leadership on the issue. As the G7 [...]
Rise of Texas is a lesson for London February 8, 2010 HERE is an intriguing question which says a lot about modern America but which everybody here in London always gets wrong. Which US state is home to most big companies? New York, surely, host to Goldman Sachs, News Corporation and Pfizer? Or could it be California, home of Apple, Intel and Walt Disney? Wrong, on [...]
