US retail sales rose in May, driven by surging cost of petrol at the pumps June 11, 2009 US RETAIL sales rose for the first time in three months in May and the number of workers filing new claims for jobless benefits last week hit the lowest level since January, suggesting the recession was abating. The Commerce Department said that sales at U.S. retailers rose 0.5 per cent last month, lifted by strong [...]
Sir Alex is a transfer master June 11, 2009 MANCHESTER UNITED are undoubtedly losing one of their greatest players of all time in Cristiano Ronaldo, but manager Sir Alex Ferguson rarely gets his big transfer decisions wrong. Ferguson demands total commitment from his players and it is easy to understand if he has decided that this is the right time to sell Ronaldo. The [...]
BLOCKBUSTER YEAR June 11, 2009 BOLLYWOOD investment firm The Indian Film Company (IFC) saw profits double over the past year, despite the economic slowdown and the terror attacks in Mumbai. IFC said full year net profit increased by 98.5 per cent to £3.89m, on revenue which rose 257 per cent to £40.9m. The group released eight films over the year, [...]
United agree to let Ronaldo join Real in 80m switch June 11, 2009 ONE of the longest-running transfer sagas of recent years edged close to conclusion yesterday when Manchester United accepted a world record-shattering £80m bid from Real Madrid for Cristiano Ronaldo. United said they gave Real permission to discuss personal terms with Ronaldo, 24, after the Fifa World Player of the Year informed the Old Trafford hierarchy [...]
Saad credit lines shut down June 11, 2009 FEARS were growing yesterday that Saad Group’s holdings in a raft of companies could be sold-off, as western banks began to shut down credit lines to the company and its billionaire chairman, Maan al-Sanea. Concerns escalated after the central bank in the United Arab Emirates instructed local banks to suspend lending to the troubled Saudi [...]
Chinalco says Rio to blame for failed deal June 11, 2009 CHINESE metals conglomerate Chinalco yesterday said Rio Tinto was to blame for the failure of the pair’s mega-deal – not the Australian government. Australia had an “open and welcoming” attitude to its failed $19.5bn (£11.7bn) bid to invest in Rio Tinto, Chinalco President Xiong Weiping said yesterday. The deal collapsed last week because of factors [...]
London & Stamford Property in raising to snap up assets on cheap June 11, 2009 LONDON & Stamford Property, the vehicle launched to exploit Britain’s property bust, yesterday said it was planning to raise new equity to take advantage of the slump in prices. The Aim-listed firm said it is looking to raise an unspecified sum to bolster its remaining £90m of equity and £150m undrawn credit facility to bankroll [...]
The writing was always on the wall for Setanta June 11, 2009 YOU have to admire the sheer tenacity of Setanta’s founding pair, Michael O’Rourke and Leonard Ryan. A lesser team would have let the floundering business die peacefully by now; these two are determined to keep it on life support until the bitter end. Yesterday, I spoke to several analysts to canvass opinion on the broadcaster’s [...]
Pinsents warns of cuts June 11, 2009 PINSENT Masons, the UK legal giant, has joined the ranks of law firms cutting jobs by laying out a seven-point plan to staff which proposes part-time work, a pay freeze and redundancies. Managing partner David Ryan has told employees he has worked to avoid job cuts but “minimal” redundancies are going to be necessary. He [...]
Redpath comes in for Ryan June 11, 2009 RUGBY UNION: Former Scotland international Bryan Redpath has been named the new head coach at Gloucester after Dean Ryan left the club “by mutual consent” yesterday. Underfire Ryan quit Kingsholme after seven years in charge and now leaves his former assistant Redpath to pick up the pieces from a disappointing Guinness Premiership season.
