Managers buy out Searcys June 21, 2010 SEARCYS, the operator of the restaurant at the top of the iconic Gherkin tower, has been bought out by its management team in a deal valuing the business at around £8m. The deal will see the upmarket restaurant group return to private ownership three years after it was bought by Alternative Hotel Group (AHG), the [...]
High Speed 1 rail link is put up for auction June 21, 2010 BRITAIN yesterday put the rights to operate the country’s high-speed railway connec tion from London to the Channel Tunnel up for sale. The sale of the 68-mile High Speed 1 line will be fronted by transport minister Philip Hammond and is aimed at helping to boost public funds. He said the successful bidder would become [...]
IS THE FAST RAIL LINK A GOOD INVESTMENT OPPORTUNITY? June 21, 2010 HOWARD WHEELDON | BGC BROKERS This is undoubtedly a good investment opportunity. It is a modern, successful infrastructure project. It is not just the bottom line which has to be watched but also the needs of the passenger by whoever takes it over. Objectively High Speed 1 has been a success story. ALAN CLARKE | [...]
Chinese Yuan news boosts the FTSE 100 but BP and defence stocks decline June 21, 2010 BRITAIN’S top shares rose yesterday, boosted by China’s move to allow a flexible yuan which lifted investors’ risk appetite and bolstered the demand outlook for commodities, underpinning gains in miners and banks. The FTSE 100 ended 48.27 points higher, or 0.9 per cent, at 5,299.11, after it closed 0.1 per cent lower on Friday to [...]
Tech shares lead bearish sentiment on Wall Street June 21, 2010 STOCKS once again succumbed to late-day selling in light trading yesterday as hopes China’s newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing’s intentions. The market’s overall bearish tone eroded the initial optimism around the benefits of the yuan move. Stocks pulled back as investors questioned the effectiveness of [...]
Miners agree rise in royalty payout… June 21, 2010 RIO Tinto and BHP Billiton hiked their royalty payments to the Western Australian government yesterday, in an important step towards merging their operations in the region. The companies have agreed to pay 5.625 per cent of sales revenue in royalties, up from 3.75 per cent, starting on 1 July. The companies will also make a [...]
AUSSIE EXECS’ PLANE WRECK FOUND June 21, 2010 THE wreckage of an aircraft carrying one of Australia’s richest men which crashed in the Congo has been found by search teams – but there were no survivors. Millionaire Ken Talbot and the entire board of directors of iron ore mining firm Sundance Resources have been missing since the twin turboprop Casa C212 plane lost [...]
Australia and China in £6bn of mining deals June 21, 2010 AUSTRALIA and China signed ten commercial deals worth more than $8.8bn (£6bn) yesterday, strengthening the country’s ties in the mining and energy sectors. The agreements see state-owned China Development Bank undertaking to provide financing for several major mining projects, including a $1.2bn loan for an iron ore development. The deals were agreed in Canberra as [...]
Chancellor to declare the winners and losers June 21, 2010 WITH tax rises and spending cuts expected in today’s Budget, many equity strategists are advising investors to steer clear of stocks heavily reliant on UK-based revenues. Instead, contracts for difference (CFD) traders should target equities with international and private sector exposure. The emergency Budget is likely to focus on tax rises instead of detailed spending [...]
…as Australia gives date for merger probe June 21, 2010 THE Australian Competition and Consumer Commission (ACCC) yesterday extended the deadline for its probe into Rio Tinto and BHP Billiton’s proposed joint venture in Western Australia to 22 July. The ACCC published the “proposed date” on its website after repeatedly delaying a report on its findings into the US$116bn (£78bn) deal, which would see Rio [...]
