Bank of America elite in line for record bonuses January 8, 2010 AN elite of Bank of America investment bankers are likely to receive record bonuses this year, the company has admitted. The bank, which repaid $45bn (£28bn) to the US government after being bailed out, had been limited to how big a bonus pot could be offered. But now the lender has moved to restore substantial [...]
Ecclestone in bid to buy Saab January 8, 2010 FORMULA 1 tycoon Bernie Ecclestone has been revealed as a major player in a bid to take over beleaguered Swedish car maker Saab. The billionaire has teamed up with Luxembourg-based investment company Genii Capital to look at a potential offer. Saab has been put up for sale by owner GM as part of a major [...]
Factory prices rise January 8, 2010 THE prices of goods leaving UK factories rose at a faster pace than expected in December, according to official figures. UK producer prices rose by 0.5 per cent last month the data from the Office for National Statistics (ONS) showed. It took the annual rate of output price inflation to 3.5 per cent – the [...]
UK cracks up in the big freeze January 7, 2010 ARCTIC conditions intensified yesterday as the UK faced its coldest night of the winter so far with the temperature dropping as low as –5C in central London as the worst cold snap to hit the country for thirty years continued. More travel chaos for commuters was predicted amid the freezing temperatures, with the Met Office [...]
Analysis | Current and planned gas storage capacity in Europe January 7, 2010 The extent of snow coverage in the UK is vividly shown in this NASA satellite image, taken yesterday, as temperatures continued to plummet
No frillers win fight of skies January 7, 2010 RYANAIR blew away the competition over Christmas, flying nearly five million passengers in December – 12 per cent more than last year. And total passengers for 2009 reached the dizzy heights of 65m, jetting past the 58m recorded the previous year. The budget airline’s biggest rival EasyJet notched up a 9.3 per cent year-on-year rise [...]
Asian nations laugh at our incompetence January 7, 2010 IT’S all rather sad. While we count the laughably high costs of a little snow, obsess about minor policy differences in?Westminster and argue over whether our economic performance in 2010 will be poor or very poor, our real rivals are bouncing back, growing at full speed and creating jobs by the millions. I’m referring, of [...]
Aberdeen set to snap up RBS funds for £85m January 7, 2010 ABERDEEN asset management is expected to announce today that it will spend some £85m to acquire around half of the asset management arm of ailing Royal Bank of Scotland. Aberdeen will buy a £13bn portfolio of funds of funds and hedge funds and is expected to finance the move with a share placing. Meanwhile, RBS [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 7, 2010 FINANCIAL TIMES SPAIN AIMS TO BRING EU STATES INTO LINE The European Union should apply “corrective measures” against member states that fail to meet their obligations under a new 10-year plan to improve the bloc’s competitiveness, José Luis Rodríguez Zapatero, Spain’s premier, said. In a proposal likely to stir controversy among other EU governments, Mr [...]
Cadbury dips below Kraft offer price January 7, 2010 CADBURY shares breached the psychologically-important level of Kraft’s hostile bid price for the first time yesterday, as pressure for the US food giant to increase its offer substantially starts to wane. Cadbury’s stock dipped to an intraday low of 767.5p on the London Stock Exchange yesterday, well below the 771p at which Kraft’s cash-and-shares bid [...]
