BSkyB ordered to pay out legal costs June 23, 2009 THE Competition Appeal Tribunal (CAT) has ordered BSkyB to pay the government and Competition Commission’s legal costs associated with the broadcaster’s appeal to keep its 17.9 per cent stake in ITV. BSkyB is fighting an ongoing battle to retain the stake, which it bought for £940m in 2006. The deal blocked a potential takeover of [...]
Banks launch overdraft bid in the Lords June 23, 2009 A LEGAL case to determine whether banking overdraft fees can be challenged on grounds of fairness kicked off in the House of Lords yesterday, with seven banks and one building society fighting to overturn an earlier ruling against them. The lenders are contesting a judgement by the Court of Appeal that charges imposed by the [...]
Report warns on failing firms June 23, 2009 A staggering 111 businesses are expected to fail every day in 2010, according to the latest Industry Watch report by BDO Stoy Hayward, out today. The report predicts that low interest rates and policy measures aimed at boosting the economy will not halt the rate of UK business failures until at least 2011. Meanwhile rising [...]
Mirror announces job cuts June 23, 2009 Trinity Mirror has announced that it is seeking voluntary redundancies from employees at its national newspapers as it cuts costs to tackle challenging trading conditions. The scheme will run to the end of this year, but the company did not disclose the number of jobs it aims to cut nor the savings it hopes to [...]
Travelzest boss to step down June 23, 2009 Chris Mottershead has quit his position at the helm of specialist tour operator Travelzest, despite confirmation that the firm has dropped an investigation into a potential misappropriation of funds on his part. Travelzest said Mottershead’s suspension had been lifted. The company said the allegation of misappropriation was “unsubstantiated” and apologised for any upset and distress.
OECD jobless to hit 57m in 2010 June 23, 2009 New forecasts from the Organisation of Economic Cooperation and Development (OECD) show unemployment rising to nearly 10 per cent on average next year, compared to the 7.8 per cent forecast in April. This would mean that more than 57m people would be unemployed in the OECD by the end of 2010.
THE LONDON REPORT June 23, 2009 The FTSE 100 closed down 0.1 per cent yesterday, falling just 4.03 points to 4,230.02 in a choppy session, with thin volumes exacerbating movements, after losing 2.6 per cent on Monday. The index has gained more than 22 per cent since hitting a six-year low in March, but is still down 4.6 per cent on [...]
NEW YORK REPORT June 23, 2009 THE S&P 500 rose yesterday as investors hunted for bargains a day after a steep sell-off, but another delay for Boeing’s 787 Dreamliner kept the Dow in the red. Shares that led the market down on Monday, when the market suffered its worst one-day loss in two months, were among the positive influences, including banks, [...]
Murray stretched as gutsy Kendrick gives Scot a scare June 23, 2009 IF Andy Murray had been under any illusion that his Wimbledon campaign would be a mere procession to the final then he was rudely snapped out of it yesterday by Robert Kendrick. World No3 Murray may have beaten his American opponent 7-5, 6-7 (3-7), 6-3, 6-4 to reach round two, but not before his title [...]
Brit Elena shows teary Keothavong how to do it June 23, 2009 BRITISH women’s No2 Elena Baltacha provided the silver lining after seeing all her compatriots, including No1 Anne Keothavong, dumped out in the first round. Baltacha, who reached the third round in 2002, sprung a major upset by beating world No33 Alona Bondarenko 3-6, 6-3, 6-4. The Scot, ranked No106, punished an error-ridden performance from her [...]
