WHAT THE OTHER PAPERS SAY THIS MORNING July 12, 2009 THE SUNDAYSThe Sunday TelegraphFOCUS DIY CHAIN FACES TOUGH CREDIT REVIEWA review of Focus DIY’s financial position will be delivered by Ernst & Young (E&Y) to the group’s lenders this Friday to help them to decide whether to continue backing the DIY retailer. Although the lenders, GMAC and HBOS, have agreed in principle to renew a [...]
A banker’s bash at philosophy is short on logic July 8, 2009 GOOD VALUEBy Stephen GreenALLEN LANE, £20 SAMUEL JOHNSON famously opined about watching a dog walk on its hind legs: it is not done well, but you are surprised to find it done at all. Something of the same reaction seems to be behind the excitement generated by this book. It is laudable that Green, the [...]
G8 warns of signifcant risks to economy July 8, 2009 WORLD leaders believe that the global economy still faces “significant risks” and may need further help, according to a draft document drawn up yesterday at the Group of Eight (G8) summit. The document cautions that “significant risks remain to economic and financial stability” while “exit strategies” from pro-growth packages should be unwound only “once recovery is assured”. [...]
Meriwether fails again as his hedge firm JWM shuts down its main fund July 8, 2009 JOHN MERIWETHER, the hedge fund veteran whose last firm Long Term Capital Management (LTCM) spectacularly collapsed just over 10 years ago, is closing his main hedge fund at JWM Partners. His Relative Value Opportunity II hedge fund, which invested in bonds, has run aground after losing 44 per cent of its value over the last [...]
Zhirkov seals 18m switch to Chelsea July 7, 2009 CHELSEA’S newest recruit Yuri Zhirkov has admitted that accepting a switch to Stamford Bridge was an easy decision. The versatile Russia international, 25, who can play anywhere down the left flank, signed a three-year contract yesterday after sealing his £18m move from CSKA Moscow. Zhirkov said he could not have rejected the dream transfer, having [...]
Ancelotti: Terry not for sale July 6, 2009 CARLO ANCELOTTI issued ambitious Manchester City with a chilling warning on his first day in charge at Chelsea yesterday, insisting: “John Terry is not for sale.” Terry has been the subject of sustained interest from mega-rich City, who are preparing a third audacious swoop for the England captain this week in the region of £35m. [...]
PEPSICO LOOKS FOR RUSSIAN FIZZ July 6, 2009 PepsiCo pledged yesterday to invest $1bn (£616m) in Russia over three years. It said it was confident in the Russian market, which is still growing despite the financial crisis. Russia is critical for PepsiCo, which is looking to boost profits as recession and changing consumer habits limit sales growth in the US.
Luxury retailers set to face six per cent sales drop worldwide July 5, 2009 SALES of luxury items are set to fall by six per cent across the globe, according to an exclusive report by Verdict Research. Global luxury expenditure is expected to fall to €211bn (£180bn) in 2009. In particular Japan is expected to suffer a 14.6 per cent drop and the US a 12.1 per cent drop. [...]
Aggression the key to our domination, says Venus July 1, 2009 DEFENDING champion Venus Williams believes her and sister Serena’s monopolisation of Wimbledon is down to one trait: aggression. Between them they have won the title in seven of the last nine years and are firmly on course to improve that record this weekend. Defeat for either of the Californians in today’s semi-finals would constitute one [...]
Chelsea set to land 17m Zhirkov June 29, 2009 FOOTBALL: Russia midfielder Yuri Zhirkov is set to become new Chelsea boss Carlo Ancelotti’s first signing this week. Ancelotti takes up his post tomorrow, when Zhirkov, who can also play at full-back, is expected to fly to London to complete a £17m move from CSKA Moscow.