BEST OF THE BROKERS June 3, 2009 VODAFONE GROUPCitigroup analysts returned from travelling with Vodafone managers to meet investors and were no less positive on the structural opportunity at the group than before. The broker remains a “buy” on the stock with a target price of 118p, but argues that targets could be increased, perhaps in November. The focus remains on shareholder [...]
Magna takeover of GM to complete by September June 3, 2009 MAGNA INTERNATIONAL looks set to close its takeover of GM Europe by September, it said yesterday, as the white knight clarifies the details of its takeover. Magna agreed to buy the European arm of bankrupt car firm General Motors (GM) at the weekend, as its US parent filed for Chapter 11. The Canadian carparts maker [...]
BNP Paribas on hunt for exec June 3, 2009 THE HUNT for someone to run one of Europe’s largest asset managers has begun after Richard Wohanka stepped down as chief executive of Fortis Investments ahead of its merger with the fund management operations of French lender BNP Paribas. Wohanka leaves the company before a tie-up expected to create the fifth-largest asset management business in [...]
Network Rail bosses set to get bonuses June 3, 2009 RAIL OPERATOR Network Rail said yesterday it would pay its executives bonuses, despite a furore over pay in blue chip companies, and a possible licence breach at the company. Directors will share £1m between them as the rail regulator, the Office of Rail Regulation (ORR), investigates claims of a licence breach on its west coast [...]
Pietersen leads England to win June 2, 2009 CRICKET: England laboured to an unconvincing six-wicket win over Scotland in last night’s World Twenty20 warm-up match at Trent Bridge. Test skipper Kevin Pietersen steered England to victory with an unbeaten 53 off 39 balls and slogging the match-winning six over mid-wicket. England’s unfamiliar bowling attack, missing injury concerns James Anderson and Graeme Swann, largely [...]
Mosley slams Ferrari claim June 2, 2009 FORMULA ONE: FIA president Max Mosley has hit back at Ferrari’s claims that F1 will be the poorer for new teams who want to come on board. Ferrari, and Renault boss Flavio Briatore, claimed any new teams would lower the standard of the sport, with the Italian team suggesting it would be more appropriate to [...]
Prepare for a feast of entertainment June 2, 2009 WHILE all eyes are naturally on England’s bid to reclaim that precious little urn from the Australians this summer, there is a small matter of a worldwide tournament taking place on home soil, which has almost gone unnoticed. Following the success of the inaugural competition in South Africa two years ago, the world’s biggest hitters [...]
Show what you’re made of, Edwards urges Lions June 2, 2009 BRITISH and Irish Lions coach Shaun Edwards has urged the tourists to make a statement of intent in tonight’s clash with Super 14 side the Golden Lions. Edwards is demanding an improvement on Saturday’s lukewarm win against a Royal XV when the Lions take the field for their second tour match in South Africa. “We [...]
Hand of Stone smites Murray’s French bid June 2, 2009 BRITISH No1 Andy Murray admitted having no answer to the sheer power of 12th seed Fernando Gonzalez after seeing his dream of French Open glory die at the quarter-final stage. Murray slugged his way back into the match after dropping the first set but wilted in his attempt to contend with the brute force of [...]
Citigroup to end payouts to its departed executives June 2, 2009 CITIGROUP is to halt the severance payments it makes to departed executives, including its former head of investment banking Michael Klein. Senior figures at the Wall Street bank were promised severance packages paid in cash instalments when they parted company with Citigroup last year, including $42m (£25.3m) in cash and stock to be paid to [...]
