Royal Mail locked in last-ditch talks October 19, 2009 ROYAL MAIL was last night in eleventh hour talks with its unions in a desperate bid to avoid nationwide walk-outs which are set to cripple the Christmas post. It is the latest move from both sides to end a dispute over modernisation at the service. Tensions are running so high that there are even fears [...]
MPs to question Harman in sex in the City hearing October 19, 2009 Sexism in the City will be in the spotlight once again today when the Treasury Committee continues to take evidence for a new inquiry into the treatment of women in the Square Mile. Minister for Women and Equality Harriet Harman is scheduled to speak as well as Sarah McCarthy-Fry, exchequer secretary for the Treasury and [...]
Standard Life names Nish as its new chief October 19, 2009 STANDARD Life has put an end to months of speculation over who will take over from veteran chief executive Sir Sandy Crombie by naming finance director David Nish as his successor. Nish, 49, had been seen as the most likely candidate to take the job since it emerged that veteran Crombie was to retire from [...]
BAA: anti-trust ruling is biased October 19, 2009 A COMPETITION ruling forcing BAA to sell airports was “riven” with the appearance of bias, the airports group told an appeal hearing yesterday. BAA, majority owned by Spanish infrastructure company Ferrovial, was ordered in March to sell London’s Gatwick and Stansted, as well as either Edinburgh or Glasgow. BAA’s lawyer told the appeals tribunal that [...]
Half of all PEdeals distressed October 19, 2009 HALF of all private equity deals are now being completed under distressed conditions, according to accountants KPMG. But the firm said this is not a surprisingly high level “given the hype around distressed balance sheets”. Michael McDonagh, a partner at the firm, said there were only 17 deals above £10m over the last quarter and [...]
Yell extends due date for debt talks October 19, 2009 Debt-laden publisher Yell Group said yesterday it had extended the deadline for lenders to agree to its refinancing plans, which include a rights issue of at least £500m. The Yellow Pages publisher said it had received an initial favourable response from its creditors, but that it needed to extend the deadline to 26 October. “This [...]
Stagecoach mulls merger with Nat Exp October 19, 2009 British bus and rail operator Stagecoach’s proposed takeover boosted shares in rival National Express but gains were capped by fears that regulatory hurdles and debt deadlines could scupper a deal. Analysts said a tie-up would make a lot of sense for debt-laden National Express and help Stagecoach’s earnings but some suggested National Express might instead [...]
FTSEgiven boost by strong gains in energy and mining October 19, 2009 Britain’s top shares added 1.8 per cent yesterday, lifted by gains in miners and energy issues as commodity prices rose on an improved demand outlook and investors looked towards further earnings news from the United States. The FTSE 100 ended 91.30 points higher at 5,281.54, a new peak for 2009 on the 22nd anniversary of [...]
After-bell earnings from Apple impress October 19, 2009 US stocks rose to fresh 12-month highs yesterday as optimistic investors rode a wave of solid quarterly earnings, which continued after the session’s close when Apple’s shares jumped on its results. Earnings from companies, including Gannett, which beat analysts’ expectations, and positive broker commentary on Caterpillar further encouraged investors looking for confirmation the economy is [...]
BORIS ATTACKS BANKS IN U-TURN October 19, 2009 BORIS Johnson is prepared to haul bankers into City Hall to berate them over bonuses after he threw away his cheerleader outfit and attacked the City’s culture of “greed”. In a massive U-turn that followed months of outspoken defence of banks and the City, Boris said he would take a harder line with the industry. [...]
