Commerzbank stalls over unpaid bonuses lawsuit September 30, 2009 COMMERZBANK will not be able to delay indefinitely a lawsuit by former employees seeking bonuses they claim were guaranteed but withheld, a lawyer acting for the staff said. The bank yesterday said it had won a 28-day extension to prepare a defence against 72 employees of Dresdner Kleinwort, now part of the German bank, who [...]
UBS upbeat as Swiss regulator warns of curbs September 30, 2009 SWITZERLAND’S two global banks UBS and Credit Suisse may face tighter regulation than other domestic and international competitors, the country’s banking regulator FINMA said yesterday. But the bank hit back, as chief financial officer John Cryan said underlying performance was getting better. “I’m more bullish on UBS than I have been for a couple of [...]
Aer Lingus gets set for winter September 30, 2009 Aer Lingus caused a ruckus in the City yesterday, as the budget airline collared workers around London Bridge to take part in a snowball fight stunt. Unsuspecting City workers were pulled away from their lunch break to play in the fake snow, in a bid to advertise the airline’s winter flights. City staff were given [...]
IndigoVision profits rocket up September 30, 2009 IndigoVision, the Edinburgh-based video security firm announced a 30 per cent increase in its pre-tax profits for the full year of £3.3m. The company, which develops and makes internet-based video security systems used in airports, casinos and border crossings worldwide, is recommending a dividend of 5p per share. IndigoVision has staff in 22 countries, with [...]
Microsoft wins $400m appeal September 30, 2009 Microsoft, the US software business, has been cleared of a patent infringement that would have seen it pay out $388m (£242m) in damages if upheld. A federal judge overturned an earlier ruling which said that the software company had infringed a patent held by anti-piracy software company Uniloc, freeing it from paying what would have [...]
Kroenke one step closer to Arsenal goal September 30, 2009 US SPORTS tycoon Stan Kroenke yesterday inched closer to his dream of taking over Arsenal Football Club, after its board confirmed that he had upped his stake to 28.7 per cent. The owner of the Denver Nuggets basketball team bought a further 80 shares in the Premiership club for £680,000, nudging him closer to the [...]
Smiths is cautious on forecast September 30, 2009 SMITHS, the technology company which makes airport X-ray scanners and mechanical seals on medical equipment, yesterday said its underlying annual profit fell 21 per cent but beat forecasts. The group said its outlook for the rest of the year was cautious. “Although statisticians are pointing towards a number of signs suggesting economies are beginning to [...]
Bharti Airtel and MTN talks collapse again due to dual-listing disagreement September 30, 2009 TALKS between Indian operator Bharti Airtel and South African MTN Group to create the world’s third-largest mobile operator collapsed for the second time in a year yesterday. Bharti, India’s largest mobile operator, blamed the South African government for the latest breakdown in a deal which faced close scrutiny from regulators and politicians. South Africa was [...]
Travis Perkins remains cautious about next year as says no signs of recovery September 30, 2009 BUILDERS’ merchant and home improvements group Travis Perkins yesterday said group nine-month turnover fell 11 per cent, as volumes showed no sustained improvement and pricing pressure persisted. However, the group, which has branches across the UK under Travis Perkins, Wickes and other brands, said trading for the past three months was ahead of its expectations. [...]
Clipper says it is in talks over further investment September 30, 2009 CLIPPER WINDPOWER said yesterday it was in talks with potential investors that could lead to a “significant investment” in the company, which is the only listed wind group in the UK. The talks, with a number of “industrial multinationals and financial investors”, could result in a new partner taking anything from a substantial minority position, [...]
