FTSE 100 Live: Stocks to tumble as interest rate decision looms; Oil falls as ‘economic catastrophe’ avoided
CITY VIEWS: IS THE GOVERNMENT’S RENEWED ASSAULT ON BONUSES JUSTIFIED? September 28, 2009 MARK HUNTER INVESTIT“The bonus culture is the thing that differentiates London as a financial centre. We do need checks in place but the City has been through the mill on that. There is an issue with the public and bonuses but it is perception rather than reality.”GORDON MILNE SAVILE GROUP“It is not justified and it [...]
LABOUR CONFERENCE NEWS September 28, 2009 Prime Minister Gordon Brown promised new legislation to curb bankers’ bonuses was forthcoming. Chancellor Alistair Darling accused Tories of “playground politics” and said their policies would have turned a recession into a depression. Business secretary Lord Mandelson said Labour were “underdogs” but could win the general election. Just one in three Labour MPs believe they [...]
Plus grows its market share September 28, 2009 PLUS Markets Group yesterday said its first half losses more than doubled due to weak capital markets activity and litigation costs, despite growing its share of UK equity trading to over 10 per cent last month as it continued to win business from rivals. Plus, which last week concluded a £5m equity fundraising with Middle [...]
Three bids made for Churchill Mining as it denies BHP link September 28, 2009 COAL group Churchill Mining yesterday said it had received three separate approaches yesterday, but denied speculation that one of its suitors was mining giant BHP Billiton. Two of the approaches were for the possible acquisition of specific projects, the Aim-listed group said, while the third was a potential offer for the whole company, which has [...]
KOREAN MOVE FOR HSBC TOWER September 28, 2009 THE HSBC Tower could be sold to South Korea’s National Pension Service (NPS) after it expressed an interest in buying the Canary Wharf building. No detailed talks have yet taken place, but NPS is believed to be in competition with a consortium of Malaysian investors to purchase the tower for up to £800m.
Virgin Media heads for UK share listing September 28, 2009 CABLE operator Virgin Media said yesterday it would launch a secondary listing on the London Stock Exchange to widen its appeal to British and European investors. The move, which will allow investors to buy the stock in sterling, sent its shares up 5.8 per cent at $13.12 (£8.26) on the Nasdaq exchange in New York. [...]
ITV told to broaden search for new chair September 28, 2009 SOME shareholders in ITV, the beleaguered commercial television station, have told the board they want it to consider people from outside the media sector when it comes to the hiring of a new chairman. The media group has been thrown into disarray by a public squabble over its attempts to hire a new chairman and [...]
Farepak starts to send cheques out, three years after its collapse September 28, 2009 Administrators acting for the collapsed Christmas hamper firm Farepak yesterday said they have started sending out cheques to customers who were left out of pocket by the group’s demise. BDO Stoy Hayward, which is acting as liquidator, said cheques worth a total £240,000 have been sent to 6,000 customers who placed orders in the company’s [...]
Arsenal’s profits rise as property is snapped up September 28, 2009 PROPERTY entrepreneurs Raymond Mould and Patrick Vaughan yesterday swooped on Highbury Square, the residential property project being developed by Arsenal football club. The duo, who head up Aim-listed property group London & Stamford, have purchased 146 apartments plus 98 garage spaces for £41.4m. The deal comes to the aid of Arsenal, which has been struggling [...]
Xerox shares plummet on ACS takeover September 28, 2009 SHARES in photocopying giant Xerox fell by more than 14 per cent yesterday after it said it would buy Affiliated Computer Services (ACS) in a cash and stock deal worth $6.4bn (£4bn). The group said it was looking to diversify and move into data management and IToutsourcing. Xerox, which is the biggest supplier of digital [...]
