Danish bank announces rights issue in bid to resist having to accept state aid November 1, 2009 DENMARK’S second biggest bank, Jyske Bank, intends to raise nearly 1.2bn Danish crowns (£144m) by issuing new stock to its existing shareholders, it announced yesterday. The bank, which accounts for around seven per cent of the Danish banking market, hopes the rights issue will strengthen its capital base and fend off the need for government [...]
Airlines slam departure tax hike as prices go up November 1, 2009 THE cost of flying increased yesterday, as the first of two rises in UK airport departure tax was introduced. Business and first class travellers have been hit hardest with the air passenger duty, with the tax on premium journeys over 6,000 miles goeing up to £110 from £80. Duty on short flights has gone up [...]
Withdrawing the stimulus early would be mistake November 1, 2009 So not bad at all! Historically the two most volatile months for stocks – October and September – have passed in the most benign fashion. September crackled by rounding off the FTSE 100’s best ever quarterly performance and in October the index has been almost flat. No gremlins there but of course investors now want [...]
BAEBIDDINGWAR November 1, 2009 BAE Systems, the defence giant, will bid this week for the first stage of a £4bn contract to build armoured reconnaissance vehicles for the British army. The bid for the order to replace the Scimitar scout vehicle, vulnerable to roadside bombs, will pit BAE against US rival General Dynamics. The winner of the bid will [...]
Magna wants Demel as Opel boss November 1, 2009 Canadian car parts maker Magna wants Herbert Demel, the head of its Austrian car development and assembly plant, to become head of Opel. Carl-Peter Forster, the current head GM Europe, had been touted to become the head of Opel’s operating business with Demel assuming management of the Opel holding company.
Barclays extends its sponsorship November 1, 2009 Barclays agreed to extend its sponsorship of the Singapore Open until “at least” 2012 and keep the prize money at $5m (£3bn) while expanding the field, tournament organisers said yesterday. As Briton Ian Poulter was sinking the winning putt for a one-stroke victory on the 72nd hole of this year’s tournament, Barclays were finalising the [...]
Russia warns on Ukraine gas November 1, 2009 Vladimir Putin the Russian Prime Minister warned the European Union yesterday that gas supplies via Ukraine may be disrupted because of another pay dispute with Kiev. Putin said he wanted to “draw attention to signals, including those sent through official channels to Kiev, concerning possible payment problems for the delivery of Russian gas”.
E-trader acquires Koodos November 1, 2009 Online bulk and surplus stock firm E-trader has bought discount fashion website Koodos for an undisclosed sum. The purchase adds a designer fashion brand to E-Trader’s existing Stockshifters.com website, where retailers and manufacturers sell bulk stock to trade buyers. E-trader was founded by fashion entrepreneur Harold Tillman, who still owns a 2.5 per cent stake [...]
Aim advisers continuing to lose custom November 1, 2009 ADVISERS are continuing to lose Aim-listed clients, according to the latest report by Hemscott and Seymour Pierce, published today. The Aim Advisers Rankings Guide for the quarter to 5 October shows auditors, financial PR advisers, solicitors, nominated advisers (Nomads), stockbrokers and registrars all experienced client shrinkage, though Seymour Pierce remained upbeat. “I think this report [...]
Northern Rock break-up is good for competition November 1, 2009 Leaving the debate over who should be the first “President of the EU” aside, the EU Commission’s recent decision to allow the break-up of Northern Rock into separate “good” and “bad” banks was a major step forward to restoring healthy competition in the banking sector. Restructuring Northern Rock and selling off its viable parts will [...]
