WIN RESHUFFLES BOARD September 14, 2009 SIR Win Bischoff takes over from Sir Victor Blank as chairman of Lloyds Banking Group today. The former Citigroup chairman is expected to launch a boardroom reshuffle that will axe non-executive directors left over from the HBOS takeover and see several departures from the executive board. One of Bischoff’s first tasks will be to oversee [...]
Heidelberg in 2.5bn issue to ease debts September 14, 2009 HEIDELBERGCEMENT has unveiled a large capital raising that is likely to raise around €2.5bn (£2.2bn), as the German cement firm scrambles to slash its €11.3bn debt mountain. The firm said it plans to boost its capital by 50 per cent by issuing 62.5m new shares in a rights issue of one new share for each [...]
Cadbury boss will fight Kraft takeover September 14, 2009 Dairy Milk maker Cadbury is set to ramp up its defence against Kraft’s £10.2bn takeover bid when chief executive Todd Stitzer addresses investors and analysts at Sanford Bernstein’s London offices tomorrow. Stitzer is also understood to be considering bringing forward the confectionary group’s third quarter results in a bid to reassure investors of the company’s [...]
Saudi wealth lures Barclays September 14, 2009 BARCLAYS is planning to push into the private banking arena in Saudi Arabia to take advantage of the concentration of high net worth individuals in the region’s largest economy. Soha Nashaat, chief executive of Barclays private banking in the Middle East and North Africa, said Saudi Arabia was “massive in terms of percentage of GDP [...]
Goldshield is in buyout talks September 14, 2009 GOLDSHIELD, the generic drugs firm, yesterday confirmed it is in advanced talks with AIT, a buyout alliance that includes the firm’s former chief executive, over a possible takeover. AIT, formed of pharma firm Neopharm and Goldshield’s ex-boss Ajit Patel, said earlier it was carrying out due diligence on the group. Patel left the firm in [...]
Shock as Del Potro ends Federer reign September 14, 2009 SIXTH seed Juan Martin del Potro stunned world No1 Roger Federer to win his first Grand Slam in an epic US Open final last night. The Argentinian 20-year-old twice came from a set down to end Federer’s five-year reign of glory at Flushing Meadows and deny him a 16th major title. The Swiss star, arguably [...]
Clijsters completes dream comeback September 14, 2009 KIM CLIJSTERS completed an amazing return to Grand Slam tennis with victory at the US Open – and then admitted that winning wasn’t part of the plan. The Belgian, 26, was playing in her first major after coming out of a 27-month retirement in August. And she created history by becoming the first ever wild [...]
Eduardo dive ban scrapped in Uefa U-turn September 14, 2009 ARSENAL striker Eduardo last night declared himself happy that “the truth” had come out after European chiefs Uefa performed a remarkable U-turn and overturned his two-match ban for diving. The Croatia international’s tumble over Celtic goalkeeper Artur Boruc during last month’s Champions League play-off clash, which Arsenal won 5-1 on aggregate, earned him a penalty [...]
Ancelotti laughs off European pressure September 14, 2009 CHELSEA manager Carlo Ancelotti insists his survival at Stamford Bridge does not depend on delivering the club’s first European Cup. Ancelotti, who has lifted the trophy twice as a player and twice as a coach, begins his first Champions League campaign as Blues boss tonight against Porto. The Italian’s European pedigree was one of the [...]
Top-flight clubs approve tougher financial rules September 14, 2009 CLUBS could be banned from making transfers if the Premier League judges them to be in danger of falling into administration, under sweeping financial changes announced yesterday. The new rules, which were agreed by top-flight chairmen this week and are already in effect, require clubs to submit annual audited accounts and future financial plans. If [...]
