Global stocks fall on Greece October 3, 2011 SHARES in US and European banks were pummelled yesterday after Greece’s admission that it may miss deficit targets set out under its bailout plan increased fears of another global recession. The STOXX Europe 600 Banking Index fell 2.8 per cent, with French banks BNP Paribas and Société Générale among the worst hit. FTSEurofirst 300 index [...]
Tory plan could fuel sub-prime debt October 3, 2011 FORTUNATELY, nobody really expected a flurry of pro-growth reforms in George Osborne’s keynote speech yesterday, which means that few will have been disappointed by the notable lack of new supply-side policies. The doubling of the qualification period for unfair dismissal claims had been widely trailed. There was a softening of the war against carbon, which [...]
American Airlines falters October 3, 2011 SHARES of American Airlines parent AMR Corp plunged as much as 41 per cent yesterday on growing fears the third-largest US airline is headed for bankruptcy, although the carrier said Chapter 11 is “not our goal”. The stock’s decline to its lowest price since 2003 outpaced the share losses of rivals, who also suffered on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 3, 2011 FINANCIAL TIMES M&S ASKS SUPPLIERS TO AID STORE REVAMPS Marks and Spencer has asked its top clothing suppliers for a multimillion-pound contribution to its store revamp plans and a step-up in advertising. At a gathering on Friday of M&S’s top 60 clothing and homewares suppliers, Marc Bolland, chief executive, asked them for a one-off contribution [...]
Carlyle in $3.9bn joint buyout October 3, 2011 Carlyle Group and Hellman & Friedman have agreed to buy contract research company Pharmaceutical Product Development for $3.9bn (£2.5bn) in cash, in one of the largest leveraged buyouts of the year. The purchase, announced yesterday, is a rare win for private equity firms at a time when the European debt crisis and worries about the [...]
RBS property sale may fail October 3, 2011 A £1.4bn deal between Royal Bank of Scotland and Blackstone to rid the bank of some of its troubled property loans may fail, robbing the industry of a template for similar transactions, three sources said. The deal required debt funding from third parties of about 60 per cent and was part of a move by [...]
London 2012 cleaners told to help shop drug cheats October 3, 2011 Games support staff to be mined for intelligence in unprecedented Olympics anti-doping crackdown CLEANERS and security staff will be asked to keep tabs on athletes at London 2012 in what organisers are confident will be the biggest crackdown on drug cheats in Olympic history. Games chiefs plan to carry out a record 5,000 tests at [...]
Chelsea would struggle to fill a bigger stadium October 3, 2011 CHELSEA’S decision to buy out the fans’ co-operative that owns the freehold to its Stamford Bridge stadium, the turnstiles and the pitch, must mean only one thing: the club is serious about moving from the home it has occupied for more than 100 years. The club has toyed with the idea of moving for years. [...]
Olympic spotlight won’t daunt me, insists sprint hope Williams October 3, 2011 TEENAGE sprint sensation Jodie Williams insists she’s not in the least bit daunted at being billed as the next golden girl of British track and field. The 17-year-old, privately funded by millionaire Barrie Wells and his Sports Foundation which has also aided the career of former world champion Jessica Ennis, already has a clutch of [...]
Vaughan: Three-Test series for South Africa just isn’t enough October 3, 2011 FORMER England captain Michael Vaughan fears the future of Test cricket has been jeopardised by limiting South Africa to just three five-day matches against Andrew Strauss’s all conquering side next summer. Under the astute leadership of Strauss and head coach Andy Flower, England have risen to No1 in the Test rankings following a prolonged period [...]
