Liverpool granted extension on debt pile after nightmare season May 9, 2010 PREMIER League club Liverpool, put up for sale by its US owners last month, has been granted an extension on its debt pile under a deal brokered by its new chairman. A minimum 12-month extension had been granted on £237m of loans from Royal Bank of Scotland, giving loss-making Liverpool until the end of next [...]
British Land assets rise by a quarter May 18, 2010 BRITISH Land has seen the value of its portfolio shoot up, off the back of a rapid rebound in real estate values. The developer of some of the UK’s biggest malls and offices said its assets increased by 27 per cent, the first full-year mark-up in its portfolio since the UK property bubble burst. “In [...]
Banks drag FTSE down even lower June 2, 2010 BRITAIN’S top share index fell yesterday, led down by banks, but finished well off session lows on fresh hopes for economic recovery after strong US pending home sales data. The FTSE 100 closed 11.98 points or 0.2 per cent lower at 5,151.32, having dropped as low as 5,072.53. The index fell 0.5 per cent on [...]
Banks drag FTSE down even lower June 2, 2010 BRITAIN’S top share index fell yesterday, led down by banks, but finished well off session lows on fresh hopes for economic recovery after strong US pending home sales data. The FTSE 100 closed 11.98 points or 0.2 per cent lower at 5,151.32, having dropped as low as 5,072.53. The index fell 0.5 per cent on [...]
Amex and Permira join forces to bid for RBS’ WorldPay payment division May 17, 2010 AMERICAN Express has teamed up with UK private equity firm Permira to bid for Royal Bank of Scotland’s (RBS) payment-processing arm. French software firm Atos Origin has also joined the private equity consortium of CVC Capital Partners and Welsh Carson Anderson & Stowe to bid for RBS’s Global Merchant Services (GMS) unit, which includes the [...]
ABB pounces with surprise Chloride offer June 8, 2010 CHLORIDE, the UK power protection group that is being courted by Emerson, yesterday shocked the markets by announcing it has tied up a £860m deal with Switzerland’s ABB. ABB is offering 325p a share, plus the payment of a 3.3p dividend, and its bid easily beats an earlier rejected offer of 275p a share from [...]
Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Ex-OFT expert brought in to probe banks June 16, 2010 SIR John Vickers, the former boss of the Office of Fair Trading, has been appointed to lead a wide-ranging review into the future shape of the banking industry. Announcing the appointment in the Commons, chancellor George Osborne said Vickers would be asked to investigate the best “size, scale and function” of banks in the future. [...]
Taxpayer is in profit on RBS April 19, 2010 ROYAL Bank of Scotland shares have jumped higher than the price the government was forced to buy them up at to save the bank from going under. As things stand the tax payer would make a profit of £180m on the 84 per cent government stake. It is thought the spike in share price was [...]