No blue skies for the Nikkei stock market this summer July 19, 2010 DESPITE the bearish fundamentals plaguing the Japanese currency, the yen has proved remarkably resilient over recent months, boosted first by safe-haven inflows as a consequence of the European sovereign debt crisis and then from the deterioration in the US recovery. This strength in the yen has had a detrimental effect on the health of Japanese [...]
International Power in GDF merger talks July 19, 2010 BRITISH energy firm International Power (IP) confirmed it had revived merger talks with GDF Energy yesterday, sending its share price soaring. The companies have restarted long-running talks over France’s GDF buying up new shares in IP. Previous talks collapsed in January after the firms failed to agree terms. GDF, already one of the world’s largest [...]
Aerospace giants set to check in at Farnborough July 18, 2010 AEROSPACE firms will gather in Farnborough today to launch the industry’s largest trade show. Boeing kick-started the show yesterday with the highly anticipated arrival of its Dreamliner jet. The 787 carrier, which has suffered from crippling production delays, landed after a nine-hour flight from Seattle to an awaiting crowd just outside of London. Boeing’s Dreamliner [...]
WINNERS & LOSERS July 18, 2010 A WEEKEND is a long time in sport, as this lot will attest. But while for some it was a few days to remember, others may wish they had never set foot out of the house. WINNER – PAUL THE OCTOPUS So popular is the psychic cephalopod that his German keepers have snubbed a cash-plus-animals bid [...]
Virgin close to legal action over media JV July 15, 2010 VIRGIN?Media is almost certain to take legal action over a controversial video-on-demand venture backed by the BBC. Project Canvas is a joint venture between media giants including BT, TalkTalk and ITV that will offer video streamed over users’ broadband connections. It has come under fierce criticism by Virgin and Sky, who say it is bad [...]
PERSONAL FINANCE NEWS July 15, 2010 BP: ONCE IN A LIFETIME OPPORTUNITY At last, some good news for BP. Its stock has sunk so low – closing yesterday at 401.75p – that investors are jumping at the chance to snap up cheap stakes in the oil giant. Clients of Barclays Stockbrokers have been piling into the stock – a third of [...]
The rising star of online retail July 15, 2010 YOU’VE just given birth and one of the first things your husband asks you to do is to sign a cheque for your new boutique (Powder, based in Crouch End. ) That was Sarah Curran’s experience of the first hours of motherhood to son Jake, now seven-years old. It is no surprise that Curran says [...]
Ocado reels as rival IPO fails July 14, 2010 OIL and gas group Fairfield Energy last night pulled its upcoming stock market flotation in a move that further undermines the chances of online grocer Ocado floating at a sky-high valuation of £1bn. Fairfield was hoping to raise £330m as part of its flotation but on Tuesday it became clear that the group’s advisers were [...]
Pru director could step down soon July 14, 2010 PRUDENTIAL’S senior independent director has told colleagues he will step down from the board once a replacement is found, according to reports last night. James Ross, a director at the Pru since 2004, may retire and trigger a larger board shake-up at the insurer following its failed £23.5bn bid for AIA. A spokesperson for Prudential [...]
BSkyB in talks to launch Arabic news channel with private Abu Dhabi investor July 14, 2010 BRITISH pay-TV company BSkyB is in talks with a private Abu Dhabi investor to launch a round-the-clock Arabic language news channel under the Sky News brand. The new channel, which could launched within 24 months, would be run as a 50-50 joint venture, providing coverage of news across the Middle East and North Africa and [...]