Gupta argues over evidence May 29, 2012 A number of people other than Rajat Gupta could have leaked confidential information about Procter & Gamble’s sale of its Folgers coffee unit in 2008, Gupta’s lawyer implied to the jury at his insider-trading trial yesterday. Gupta, who was arrested last October, has pleaded not guilty and argues that the prosecution’s evidence is circumstantial.
Better weather prompts retail rebound in May May 29, 2012 SHOPPERS hit the high street in force this month after April’s washout, industry data showed yesterday, and retailers expect sales to remain strong through June. Sales were higher this month than in May of last year according to 43 per cent of retailers, while just 23 per cent reported a fall – leaving a positive [...]
Facebook escapes blame over botched listing but banks disliked May 29, 2012 FACEBOOK’S recent IPO debacle has had a mixed impact on the perception of the US brands involved. YouGov’s BrandIndex clearly registers the negative buzz surrounding alleged mismanagement of the Facebook IPO. Our Buzz score is driven from the net of those that say they have heard negative buzz about a brand compared with those who [...]
Top economist: prepare for Grexit May 29, 2012 It is sensible to make contingencies to insulate the UK from any Eurozone breakup, the Bank of England’s chief economist Spencer Dale said yesterday, stressing the importance of fostering the gradual economic recovery which he believes is now underway. “The Eurozone is our largest trading partner, and there are strong financial links,” he explained to [...]
Japanese jobless numbers climb May 29, 2012 Japan’s jobless rate rose in April but the availability of jobs improved, government data showed yesterday, supported by hiring for reconstruction-related jobs in the earthquake-battered north east. The seasonally adjusted unemployment rate rose to 4.6 per cent from 4.5 per cent in March, compared with economists’ median forecast of 4.5 per cent, figures from the [...]
Barclays jumps the gun on sunny high street sale stats May 29, 2012 Whoops! The British weather and bank holidays are often blamed for economic under- performance, even when it’s not especially bad. So yesterday when the CBI issued its latest take on the state of distributive trades, a statement from Richard Lowe, head of retail and wholesale at Barclays, promptly followed blaming the rain: “The biblical weather [...]
Keep the royal flag flying high May 29, 2012 The City of London Corporation is giving away 250 Union Jack flags to wave from office windows as the Queen visits the City next Tuesday as part of the Jubilee celebrations. Businesses interested in getting hold of the 1.5 by one metre polyester flags need to email TC-PublicRelationsAdmin@cityoflondon. gov.uk, specifying their address. “We’re asking them [...]
BG Group sells Brazilian firm for over £1bn May 29, 2012 BG Group yesterday confirmed that it has signed binding agreements to offload its majority stake in South American firm Comgás for 3.4bn Brazilian reais (£1.1bn). The deal, originally announced earlier this month, will see its 60.1 per cent stake in the São Paulo-based gas distributor sold to Brazilian energy conglomerate Cosan. “This transaction, when completed, will [...]
Network Rail faces big fines for its track record on train delays May 29, 2012 NETWORK Rail has been threatened with a fine of at least £24m unless it makes more of an effort to cut cancellations and delays on long-distance routes. The Office of Rail Regulation watchdog yesterday demanded that Network Rail speed up its plans to fix “unacceptable” levels of delays, which could put it in breach of [...]
HGS investor tries to block poison pill May 29, 2012 A HUMAN Genome Sciences shareholder has filed a lawsuit against the board and requested a Maryland court to temporarily restrain the company from using a “poison pill” in response to GlaxoSmithKline’s hostile $2.6bn (£1.66bn) takeover offer. Human Genome adopted the stockholder rights plan earlier this month in an attempt to ward off GlaxoSmithKline in what [...]
