Monday, 15th March 2010
TRANSPORT Secretary Andrew Adonis yesterday condemned a planned strike by British Airways (BA) cabin crew as “totally unjustified” and warned they could destroy the flagship airline.
He called on...
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Monday, 15th March 2010THE Capitalist travelled in style to Sandown Park racecourse for the Grand Military Gold Cup, where the City types in attendance were busy whetting their appetite for this week’s Cheltenham... [Read more]
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Monday, 15th March 2010SO, we know now where England will be based for this summer’s World Cup in June and July. Fabio Capello’s guys will set up their training camp in the small town of Rustenburg, 70 miles from... [Read more]
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Monday, 15th March 2010DAVID BECKHAM’S World Cup dream was shattered in Milan last night after suffering a horrific Achilles tendon injury which could keep him out for six months. The 34-year-old had to be stretchered off... [Read more]
Reckitt Benckiser (RB-)
MPs’ expenses – more to come, says whistleblower. EXCLUSIVE
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- ALL the opinion polls are giving the same message: Britain is on course for a hung parliament, with no political party in overall control come May. Given that this election ought to be a shoo-in for... [Read more]
- SHADOW Chancellor George Osborne has joined forces with US economist Jeffrey Sachs to warn about the dangers of not acting fast on the deficit. The two say delaying action on reducing the deficit... [Read more]
- Liberal Democrat leader Nick Clegg has quashed suggestion of a pre-election coalition with Labour or the Tories. “I am not the kingmaker,” he said. [Read more]
- Chancellor Alistair Darling has revealed next week's Budget will not include any new spending cuts but he has refused to rule out tax rises. Darling said the package on March 24 will focus mainly on... [Read more]
- Guardian Media Group is set to take a big hit on its investment in publisher Emap, with an impairment of up to £150m. The group, which is undertaking a buy-back of about £100m of its £700m debt, is... [Read more]
- BA cabin crew will go on strike for three days from 20 March and for four days from 27 March, union official have confirmed. Unite called the walkout after talks to settle a dispute over pay and... [Read more]
- INDUSTRIAL production in the 16 countries in the eurozone increased by much more than expected in January. The 1.7 per cent growth between December and January was a record jump in the monthly data... [Read more]
- LEHMAN Brothers used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has... [Read more]
- FASHION retailer SuperGroup has said it will go ahead with its stock market listing and expects to receive a valuation of £395m. The company – which has the Superdry brand sported by celebrities... [Read more]
- LIBERTY could be taken over in a deal of up to £70m after more than one potential buyer has emerged. The Regent Street department store told the stock market today that it had received approaches... [Read more]
- EDUCATION technology group Promethean World and its owners are set for a £400m listing on the London Stock Exchange. The Blackburn-based company and private equity firm Apax Partners – which owns a... [Read more]
- NIGHTCLUB group Luminar has seen its trading badly dented by freezing winter weather. Clubber numbers have dwindle leaving sales down 9.9 per cent in the year to 25 February. The company, which owns... [Read more]
- LONDON is no longer the world’s leading financial centre, according to a highly rated survey The Global Financial Centres report yesterday slashed its rating to equal that of New York. It is the... [Read more]
- THE Tories yesterday insisted the City had faith in George Osborne, after our City A.M. reader panel said Ken Clarke would make a better chancellor. Shadow business secretary Clarke was the first... [Read more]
- SIR Brian Pitman, one of the most respected bankers of his generation, has died aged 78. Pitman, who was latterly chairman of Virgin Money, led Lloyds Bank for 18 years before retiring almost a... [Read more]
- ONCE again, the European Union has got it wrong. It doesn’t have a clue about regulating hedge funds, private equity or other financial products and players. Brussels is tilting at windmills,... [Read more]
- Labour crept up two points on the Conservatives, according to the YouGov daily tracker poll published today. The Tories, led by David Cameron, remain unchanged on 37 per cent, while Gordon Brown’s... [Read more]
- JP Morgan Chase and Citigroup helped cause the illiquidity that led to the collapse of Lehman Brothers by making new demands for collateral, the failed US investment bank, a court-appointed examiner... [Read more]
- THE bitter war of words between the US and Europe over hedge fund regulation reached new heights yesterday. The EU reacted furiously to criticism of its plans to clamp down on hedge funds. US... [Read more]
- INSIDER trader Malcolm Calvert, has been jailed for nearly two years after being found guilty of a crime that destroys confidence “in a clear and fair market.” The former Cazenove partner made more... [Read more]
- A SECOND bid to buy Manchester United from the Glazer family is brewing, City A.M. has learned. A group of wealthy City figures are desperate to wrest control of the club with a bid worth around £1.... [Read more]
- Alistair Darling says his budget on 24 March will not be a “giveaway.” He said the budget, Labour’s last chance to set out its plans for the economic recovery, before an expected 6 May election, will... [Read more]
- KEN Clarke would make a better chancellor than George Osborne, according to our panel of City A.M. readers. Clarke, who held the job between 1993 and 1997 and is now shadow business secretary, topped... [Read more]
- SUPERMARKET chain Morrisons saw a 21 per cent surge in profits last year to £767m. The company, Britain’s fourth largest grocer, raised its full year dividend 41 per cent to 8.2 pence a share on the... [Read more]
- INSURER Old Mutual said yesterday it would reduce its exposure to the US, selling its life business and listing its US asset-management arm as it revealed a fall in pre-tax profit. The Anglo-South... [Read more]
- JOHN Lewis will hand its staff a 15 per cent bonus after reporting a surge in annual profits. The retailer made a profit before the staff bonus and tax of £306.6m in the year to the end of January –... [Read more]
- HSBC has confirmed that a theft of data by a former employee affected up to 24,000 Swiss client accounts. The bank had previously said "less than 10 clients" were compromised after a former HSBC... [Read more]
- BRITISH Petroleum (BP) has begun its long-awaited venture into the Brazilian offshore market after agreeing to buy $7bn (£4.6bn) worth of assets from Devon Energy. Devon’s largely unknown but... [Read more]
- HOME retail Group – which owns Argos and Homebase – has tipped its pre-tax profit for the year to come in at £290m The figure is slightly ahead of market forecasts for the year to 27 February.... [Read more]
- PUB chain Wetherspoon today announced the end of a year-long dividend freeze after successfully completing its debt refinancing. Shareholders will receive a 12p dividend on 1 April for the year to... [Read more]
- AIRLINES in emerging markets will lead a global rebound in air traffic, as commercial carriers worldwide see collective losses halve this year, according to an airline trade body. The International... [Read more]
- BMW’S cost cutting measures have begun to gain traction as the German premium automaker posted a better-than-expected 2009 profit despite lower vehicle production. BMW said yesterday its pre-tax... [Read more]
- TECHNOLOGY that allows superfast broadband to be transmitted using telegraph poles is being trialled. If successful the scheme could be rolled out to allow London commuters in key towns to increase... [Read more]
- ARBUTHNOT Banking Group yesterday hit out at the government for crippling smaller banks with a “one-size-fits-all” approach to punitive regulatory policy. Arbuthnot has avoided the Bank Payroll Tax... [Read more]
- BUDDING entrepreneurs consider this: you co-found a business and, after a while, you realise the culture isn’t right for you. What do you do? John Paskin abandoned his first dream of becoming an... [Read more]
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