Axe relegation, says McGeechan October 18, 2012 RUGBY UNION: Coaching great Sir Ian McGeechan, leading a review of elite rugby in England, has called for promotion and relegation to be scrapped from the Premiership.
Shake-up for domestic format October 18, 2012 CRICKET: County Championship matches will start on Sundays while the Clydesdale Bank will change from a 40- to 50-over format from 2014.
Barclays increases PPI provision by £700m October 18, 2012 Barclays has set aside a further £700m to cover Payment Protection Insurance (PPI) claims, after experiencing higher than expected claim volumes since the end of June. It takes its overall provision to £2bn from £1.3bn. UK banks have set aside more than £10bn to cover claims relating to the mis-selling of PPI. PPI policies were [...]
Nat Rothschild October 18, 2012 In today’s article ‘Nat Rothschild shared £10m Bumi expenses’ we stated that Nat Rothschild had personally received $4.9m in expenses from Bumi and used the money to purchase a private jet. This was incorrect and the payment was reimbursement for third party expenses, approved by Bumi’s audit committee and in fact structured in such a [...]
FTSE 100 at one-month highs October 18, 2012 The leading blue chip index was up this morning to a one-month high, with miners leading the pack once again. Evraz, Kazakhmys, Vedanta and Antofagasta all rose on the FTSE 100 in early trading, cheered by early signs of improvement in the economy of China. On the FTSE All-Share, insurer CPP Group rose 10.71 per [...]
UK retail sales rise in September October 18, 2012 UK retail sales rose last month as Britons stocked up on new winter clothing and school uniforms, according to data out today. Sales volumes including petrol jumped 0.6 per cent last month, after dipping 0.1 per cent in August, the Office for National Statistics said this morning. Year on year, retail sales were 2.5 per [...]
Man Group reports $2.2bn outflows in third quarter October 18, 2012 Hedge fund Man Group reported $2.2bn (£1.3bn) in outflows over the three months to September, up from $1.4bn over the previous quarter. The outflows were concentrated in lower margin product lines, said Man. The group said this morning total assets rose 14 per cent over the three months to the end of September to $60bn, [...]
China grows at slowest pace in three and a half years October 18, 2012 The Chinese economy grew 7.4 per cent over the three months to September, the slowest quarter of growth since the financial crisis. Industrial production, retail sales and investment figures were slightly up on forecasts, according to the National Bureau of Statistics (NBS). The economy grew buy 7.7 per cent in the first nine months of [...]
BP eyes $28bn deal as oligarchs bow out October 17, 2012 A GROUP of oligarchs last night bowed out of buying British oil major BP’s stake in embattled Russian joint venture TNK-BP, opening the way for BP to begin talks on a multi-million pound deal in a Russian state oil producer. Russian consortium AAR last night called time on its troubled relationship with BP over joint venture [...]
Plot to bomb Fed Reserve foiled October 17, 2012 THE FBI last night arrested a man after he allegedly planned to blow up the New York Federal Reserve Bank. Officers swooped on the 21-year-old Bangladeshi national following an elaborate sting operation that involved an undercover agent providing him with a fake 1000-pound bomb. The FBI say Quazi Mohammad Rezwanul Ahsan Nafis travelled to the United States in [...]
