Eurozone action helps stem bank losses June 29, 2012 The FTSE 100 rose this morning as a string of measures aimed at patching up the Eurozone injected more confidence into markets. Leaders of the bloc agreed to take emergency action to bring down Italy and Spain’s surging borrowing costs, create a single supervisory body for eurozone banks, and enable the bloc’s ESM bailout fund [...]
EU deal to help banks June 29, 2012 Eurozone leaders agreed to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis. The measures, agreed after 14 hours of intense talks that pitted Rome [...]
Nike profits dip June 29, 2012 Nike reported an eight per cent fall in fourth-quarter profits to $549m (£354m), despite them expecting a lift from the Olympics. The company battled with a cost increase for labour and material and offset this by raising their product prices. Their fourth quarter revenues rose 12 per cent to $6.5bn, which was below expectations. Overall [...]
Credit Suisse makes profit in second quarter June 29, 2012 Credit Suisse made a profit in the second quarter, including at its under-fire investment bank, it said on Friday, in an unscheduled statement that underscores the pressure it is feeling to restore confidence in its battered shares. Credit Suisse shares have slumped to 20-year lows this week following a rebuke from the Swiss National Bank [...]
Melrose agrees $2.3bn Elster acquisition June 29, 2012 British buyout group Melrose announced on Friday an agreed deal to buy German utility-meter maker Elster Group for £1.4bn ($2.3bn) in its first major deal for four years. Melrose, which buys underperforming manufacturing businesses and turns them around before selling them, said it would pay $20.50 for each Elster American depositary share, at a 43 [...]
AB InBev in $20bn deal for Modelo June 29, 2012 Anheuser-Busch InBev, the world’s biggest brewer, said it would swallow the half of Grupo Modelo it does not already own for $20.1bn in the latest of a string of deals by big brewers looking for growth in emerging markets. The owner of Budweiser and Stella Artois beers said on Friday it had reached agreement with [...]
From boom to bezzle: this banking scandal will run and run June 29, 2012 CAN it get any worse for Britain’s banks? Well, yes. Much, much worse. Not only is Barclays merely the first firm to settle when it comes to the despicable Libor scandal – others are also being investigated – but the FSA is about to announce that it will penalise a number of banks for a [...]
Becklash: Stars and fans hit out at Olympic snub June 28, 2012 TEAM GB football manager Stuart Pearce was facing a backlash last night after controversially omitting former England captain David Beckham from his final squad for London 2012. Ex-players Gary Lineker and Robby Savage criticised the decision, while some fans vowed to boycott Team GB matches, having bought tickets in the hope of seeing Beckham’s international [...]
Rosol stuns Nadal to clear Wimbledon route for Murray June 28, 2012 WORLD No100 Lukas Rosol hailed his performance as a miracle after producing one of the biggest upsets in grand slam tournament history to eliminate second seed Rafael Nadal. The Czech’s stunning 6-7 (9-11), 6-4, 6-4, 2-6, 6-4 victory makes him the first since 2005 to defeat Nadal at such an early stage of a grand [...]
Should Beckham have been picked? June 28, 2012 YES Frank Dalleres Sports Editor How many with tickets for Team GB matches bought them hoping to see a fairytale end to David Beckham’s career? Loads. And how many will now clamour for more than a million spare seats in the hope of witnessing Micah Richards instead? Not too many, you suspect. Yes, Beckham should [...]
