Shrinking economy shakes market but Wolseley grows June 30, 2009 WEAKER than expected consumer confidence figures in the US drove some shares lower yesterday, with banks, miners and food retailers leading the fallers. The FTSE 100 shed one per cent, or 44.82 points, to close at 4,249.21. But the index is up 8.2 per cent on the quarter, the best such performance since the final [...]
CITY EYE June 30, 2009 BALLET dancers put in some legwork at their last rehearsal before last night’s performance of Swan Lake, which was put on in the lavish interior of St Paul’s Cathedral as part of this year’s City of London festival – an extravaganza of free jazz and world music concerts, walks, talks, exhibitions, street-theatre and dance performances, [...]
SAILORS IN FOR FRUGAL FESTIVITIES AT COWES June 30, 2009 THE emails are starting to come in thick and fast, peddling weird and wonderful offers for the annual Cowes week sailing regatta in August. Given the fact that a headline sponsor has yet to be found to replace Skandia, which pulled out last year, you get the distinct feeling that this year’s Cowes will be [...]
BEST OF THE BROKERS June 30, 2009 ARRIVAInvestec was disappointed by Arriva’s trading update, which showed a weakening in all areas of the business, especially the Cross Country rail franchise. The broker said that further deterioration in trading is likely to emerge in time and it expects to downgrade its estimates. Despite a poor share price performance, Investec remains cautious on the [...]
Magna and Opel talks delayed June 30, 2009 Talks between Canadian auto parts supplier Magna and the European Opel dealership association, Euroda have been postponed by roughly two weeks to 22 July, Euroda Vice-Chairman Albert Still said yesterday. Still declined to comment on whether the delay to hold meetings over greater dealer influence in a future Magna-Opel group was due to a snag [...]
Roaming mobile bills cheaper June 30, 2009 Making a telephone call, sending a text message or reading emails on a mobile phone from across the European Union will cost less from today. The tariff cuts, which complete a European Union ruling from 2007, were proposed by the EU’s executive arm at the end of 2008 and won approval by the European Parliament [...]
Pfizer offers competition remedy June 30, 2009 US drugmaker Pfizer has offered remedies aimed at tackling concerns that its $68bn (£41bn) planned takeover of rival Wyeth may be anti-competitive, the European Commission said yesterday. The Commission, which polices competition in the 27-country European Union, said in a daily list of planned mergers under scrutiny that it had extended the deadline for its [...]
CITY MOVES WHO’S SWITCHING JOBS June 30, 2009 TalkTalkThe broadband provider has appointed David Cooper as chief information officer. Cooper will be responsible for the firm’s IT systems and, in particular, will oversee the integration of those systems with Tiscali UK, which it acquired in May for £236m. He previously worked at BT during the 1980s and 1990s, and most recently spent seven [...]
Monitise signs 8m deal with Visa International June 30, 2009 SHARES in mobile banking and payments service provider Monitise lifted by 28 per cent to 6.75p yesterday, after it said that it had signed a five-year strategic agreement with Visa International worth $13m (£7.9m). Monitise said Visa International, the world’s largest retail electronic payments network, would also subscribe to a rights issue of 73.2m new [...]
Shortfalls on pensions hit high in June June 30, 2009 PENSION deficits in the UK’s 200 largest private final-salary schemes almost doubled in June to their highest level since January 2006 thanks to plummeting yields on corporate bonds, according to consultancy Aon. Aon said pension deficits rose from £40bn to £73bn last month. Pension funds invest heavily in corporate bonds as a means of generating [...]
