G20 closes in on bonus deal September 22, 2009 THE WORLD’S financial superpowers are nearing a compromise on bonuses which would satisfy both the US and counterparts in France and Germany, with the G20 summit in Pittsburgh due to begin tomorrow. Mandarins from the G20 powers are thrashing out a co-ordinated solution to the remuneration question, that would see banks required to pay a [...]
TURNER IN FRESH ATTACK ON CITY September 22, 2009 LORD Turner, chairman of the Financial Services Authority, last night accused those who plan to ignore lessons from the “near death experience” of the market meltdown of being the real enemies of the City. In a controversial speech to the Lord Mayor’s banquet at Mansion House, Turner repeated his previous claim that “not all financial [...]
BUILDERS GO CAP IN HAND FOR 850M September 22, 2009 HOUSEBUILDERS Barratt and Redrow are today expected to tap shareholders for a total of £850m to shore up balance sheets that have been battered by the property slump. Barratt is set to unveil plans to raise £700m in a placing and open offer through its house broker UBS. And rival Redrow is expected to launch [...]
CBI: Crisis is averted but risks remain September 22, 2009 THE CBI will today say that economic Armageddon has been averted and that growth is on the cards, although it will warn over the perilous state of the government’s finances. Speaking at today’s CBI economic forecast, director-general Richard Lambert will say that the risk of a 1930s-style recession in the UK has now faded. The [...]
Imperial Tobacco says trade is in line with its expectations September 22, 2009 IMPERIAL TOBACCO, the world’s fourth-biggest cigarette group, yesterday said trading in its financial year to the end of September was in line with its expectations. The group, which makes Lambert & Butler cigarettes, also said its integration of acquisition Altadis is on track to deliver expected cost savings. Analysts expect the group to issue earnings-per-share [...]
C&W launches deal with Ryanair September 22, 2009 Cable & Wireless announced yesterday that it has signed a five-year, €15m (£13.5m) contract to manage budget airline Ryanair’s European telecoms network, which covers 180 airports, as well as bases, data centres and corporate offices in 26 countries. Ryanair’s self-service check-in kiosks will also run on the C&W network.
Google wins EU court backing September 22, 2009 An adviser to the European Union’s top court yesterday backed Google in a row with luxury goods maker LVMH over internet advertising, saying that the search firm had not infringed trade mark rights by allowing companies, such as shoe stores, to pay to place their name next to search results for brands that they sell. [...]
BA boss pledges emission cuts September 22, 2009 Willie Walsh, the chief executive of British Airways, yesterday pledged that the entire aviation industry would see its carbon dioxide emissions slashed to half of 2005 levels by 2050. He said the proposals were the “best option for the planet”, although air fares could rise.
SPORT IN BRIEF September 22, 2009 Fury could help Haye’s Valuev bidBOXING: Britain’s David Haye is eager to spar with heavyweight prospect Tyson Fury as he steps up preparations for his WBA title bout with giant Nikolai Valuev. The former undisputed cruiserweight champion meets the 7ft 2ins Russian in Germany on November 7 and wants the help of 6ft 8in, 21-year-old [...]
Sri Lanka defeat hosts SAin opener September 22, 2009 SRI LANKA shocked hosts South Africa by winning the opening Champions Trophy encounter in a rain-affected match at Centurion. The heavens opened in the 38th over with South Africa way behind on the Duckworth-Lewis method, handing Sri Lanka a deserved 55-run win and two points. Tillakaratne Dilshan’s rapid century helped Sri Lanka set a daunting [...]
