I recreated all my favourite TV tropes, from crawling through pipes to being two kids in a trenchcoat
Trinity Mirror sees signs of stabilisation November 12, 2009 NEWSPAPER group Trinity Mirror said yesterday that it has seen a slowdown in the rate of revenue declines, and that it was confident of meeting expectations for 2009. The publisher of the Daily Mirror and a host of other national and regional titles said underlying advertising revenue had fallen 20 per cent in the first [...]
Resolution’s hunt for deals gathers pace November 12, 2009 RESOLUTION, the insurance-focused takeover vehicle owned by entrepreneur Clive Cowdery, says it is still hungry for acquisitions, boosting shares in possible target Legal & General. Resolution reiterated its aim to buy two more major insurers within 15 months following its takeover of Friends Provident, saying upcoming regulatory changes made consolidation “both desirable and inevitable” in [...]
BT sees slide in profits but lifts cost cuts November 12, 2009 BT GROUP yesterday reported a 45 per cent drop in first-half profits, but upped its full-year guidance and said it had seen improvements at its troubled Global Services (GS) division. The telecoms giants said that cost cutting measures had enabled it to report a two per cent increase in second-quarter earnings to £1.43bn, and free [...]
SFO launches probe into Dynamic hedge fund November 12, 2009 THE Serious Fraud Office has launched a criminal investigation into Dynamic Decisions Capital Management, a Mayfair-based hedge fund. Dynamic Decisions’ flagship Growth Premium Master fund went into liquidation in May amid claims its net asset value had plummeted from $550m (£332.9m) to $20m. The SFO said it was looking into the investment activities of the [...]
Maersk expects $1bn loss after freight rates dip November 12, 2009 DANISH shipping and oil group AP Moller-Maersk yesterday reported a deeper-than-forecast net loss for the first nine months of the year, hit by a global slump in freight, and said it would lose $1bn (£603m) in 2009. The full-year 2009 outlook, unchanged from three months ago, points Maersk — the world’s biggest container shipping line [...]
3i tumbles as asset value disappoints November 12, 2009 PRIVATE equity giant 3i marched back into first half profit yesterday but saw its shares drift downwards as its net asset value undershot expectations. Britain’s oldest buyout firm, which invests in companies as diverse as Interflora and Ministry of Sound, said the underlying value of its portfolio rose 2.5 per cent between April and September, [...]
CITY’S FINEST TURN OUT IN STYLE TO HONOUR THE WOMEN OF THE FUTURE November 12, 2009 CORPORATE party-goers have been busy this week with a string of shindigs in a row, and last night saw the City’s female contingent descending upon the Marriott hotel in Grosvenor Square for the Women of the Future awards. The ladies weren’t short of powerful supporters, either – even Tory leader David Cameron showed up to [...]
BA AND IBERIA SEAL MERGER November 12, 2009 BRITISH Airways last night sealed a £4bn merger deal with Spanish carrier Iberia to create an aviation giant. The two loss-making companies said they had reached a preliminary agreement for the tie-up that will see BA shareholders take 55 per cent of the combined group, with Iberia holding the remaining 45 per cent. BA chief [...]
Hedgies to face EU pay curbs November 12, 2009 THERE was growing anger in London’s hedge fund community last night, after it emerged that the European Union plans to treat funds like banks by forcing them to defer up to 60 per cent of managers’ variable pay. According to a draft version of the Alternative Investment Fund Managers (AIFM) directive seen by City A.M., [...]
BA merger is a wake-up call for London November 12, 2009 CONGRATULATIONS to Willie Walsh, British Airways’ chief executive, for having pulled off a better than expected deal in his merger talks with Iberia. BA shareholders will own 55 per cent of the new company, while Iberia’s will hold 45 per cent; that is better than the 53-47 per cent split many had expected. Even though [...]
