The top team must drive a hard bargain with News Corporation June 15, 2010 THE eight independent directors charged with looking after interests of BSkyB shareholders are an experienced stellar bunch. But the group will come under scrutiny because they may be perceived as being too close to News Corporation head Rupert Murdoch who was chairman of Sky until 2007, and was replaced by his son James. The gang [...]
Apollo weighs higher Brit bid June 13, 2010 BRIT INSURANCE, the Lloyd’s of London outfit, has its largest investors’ backing to demand an improved takeover offer from US private equity giant Apollo, City A.M. understands. The FTSE 250-listed insurer on Friday knocked back a cash approach from Apollo worth £785m, or 1,000p per share, arguing it “significantly undervalues” the company. Apollo was last [...]
Jungles, sea and history in old Malaysia June 13, 2010 A 100-mile ferry-ride across the South China Sea is Langkawi, one of the world’s most idyllic spots for sunbathing, swimming in crystal green waters framed by lush jungle, and the total luxury of a world-class beach resort. It’s gorgeous – but probably quite similar to retreats in Thailand, Indonesia, the Caribbean, Costa Rica, Mauritius…you get [...]
TRAVEL NOTES June 13, 2010 Summer savings in Mauritius Escape unreliable British weather with a trip to this heavenly Ayurvedic retreat in Mauritius, currently offering savings to the tune of £1,525 per person. If you stay seven nights you get a reduced room rate as well as a free daily round of golf. Seven days from £1,455 per person. Includes [...]
City investors round on Pru June 8, 2010 AT LEAST two of Prudential’s top 10 shareholders will meet with the company’s directors to demand a change of management after its failed bid for AIA, according to a report last night. Legal & General Investment Management and Fidelity, who between them control nearly eight per cent of the insurer, are understood to want a [...]
Forget south africa; the world cup is coming to bishopsgate June 8, 2010 ROYAL Bank of Scotland has clearly been keeping an ear out for all the sage words of wisdom dropping from the sky over the World Cup. The four-yearly event is one of the most sought-after corporate hospitality gigs in the calendar, but RBS, mindful of that taxpayer bailout it received during the crisis, isn’t biting. [...]
See the World Cup in world-class style June 8, 2010 FEVER PITCH, FULHAM You won’t miss a second of build-up if it’s up to World Cup pop-up bar Fever Pitch in Fulham. Open since May and closed after the final, this is the place to enjoy the action on nine screens spanning 360 degrees while sipping a pretty decent selection of beer. The 400-capacity venue [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 7, 2010 FINANCIAL TIMES ROCKHOPPER set for $40m CASh CALL Rockhopper, the first explorer to find oil on the Falkland Islands, is priming a £40m cash call that could be launched this week. The Aim-quoted oil company, one of three small UK wildcat explorers drilling for Falklands oil, has been working with broker Canaccord Adams to sound [...]
Sunny skies help retail sales in May June 7, 2010 SUNNY weather and preparations for the World Cup helped retail sales rise on a like-for-like basis in May, but nervous consumers are still holding off on purchases of big-ticket items, the latest survey from the British Retail Consortium (BRC) reveals today. On a like-for-like basis, retail sales values rose 0.8 per cent in May on [...]
BSkyB in £160m deal for Virgin Media channels June 4, 2010 BSkyB has agreed to buy Virgin Media’s basic channels as the two former fierce rivals develop strategies to compete with the soon-to-arrive free Internet-connected TV services. The satellite group BSkyB will pay up to £160m cash to expand its portfolio of basic pay TV channels, which will include Living, Bravo and Virgin1. It will also [...]