WHAT THE OTHER PAPERS SAY THIS MORNING July 26, 2010 FINANCIAL TIMES fears over china’s bad loans China’s banks are facing serious default risks on more than one-fifth of the Rmb7,700bn ($1,135bn) they have lent to local governments across the country, according to senior Chinese officials. In a preliminary self-assessment carried out at the request of the country’s regulator, China’s commercial banks have identified about [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 25, 2010 THE SUNDAYS The Sunday Telegraph FUND CHIEF SLAMS OFWAT One of Britain’s leading investors in the UK’s water industry has said that Ofwat is “dysfunctional” and should be merged with the electricity regulator, Ofgem. Neil Woodford, leading fund manager for Invesco Perpetual, said that the water regulator did not understand the equity market and that [...]
WH Ireland to hire new boss July 25, 2010 STOCKBROKER WH Ireland has taken on former Toscafund fund manager Paul Compton as its new chief executive, in an attempt to turn the ailing business around. Compton joins the firm at a torrid time for the small-cap broking industry. WH Ireland said on Friday that it had fallen into the red over the first half [...]
GM plots listing July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]
GM plots IPO to reduce government stake July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]
Calls for Voda chair’s head July 21, 2010 A powerful investor group has called for the head of veteran Vodafone chairman Sir John Bond. The Ontario Teachers’ Pension Plan (OTTP), which has a 0.42 per cent stake in the telecoms giant, has demanded a radical shake-up at board level and says it will vote against his re-election. Though the OTTP stopped short of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 20, 2010 FINANCIAL TIMES STUDY POINTS TO PENSION GAP AMONG EXECUTIVES Executives at FTSE 100 companies earn retirement benefits that cost roughly twice as much as those offered to those in the FTSE 250, according to a study released on Wednesday. The study, prepared by actuarial consultants Lane, Clark & Peacock, looks at the way FTSE 250 [...]
Lookers eyes record results boosted by spare parts division July 7, 2010 CAR dealership Lookers is on course for record half-year results with the recent recession boosting demand for new and used cars, the firm said yesterday. The Manchester-based company said all its business divisions were currently performing ahead of plan, during the first half of the year despite disruption from January’s snow. Lookers, which has 5,500 [...]
Drama in the Deep South July 7, 2010 FORD COUNTY BY JOHN GRISHAM ARROW PAPERBACK, £7.99 BY ZOE STRIMPEL John Grisham, trusty friend of travelling businessmen for 20 years, is the definition of “best-selling author”. But what distinguishes him from the slews of so-called best-selling thriller writers, many of them attempting to be just like him, is the watertight quality of his writing [...]
New car sales enjoy a 20pc surge in 2010 July 6, 2010 THE car industry continued its steady recovery, reporting a 10.8 per cent year-on-year rise in new registrations. Registrations topped 195,000 in June, the 12th successive monthly increase. The figures were helped by a 25 per cent increase in sales in the fleet market and large-scale orders from businesses. This helped to offset the end of [...]