Experian cuts successful as profits rocket May 20, 2009 EXPERIAN, the credit information group, yesterday cheered markets by unveiling a bumper 11 per cent jump in net profit to $486m (£313m), aided by an $80m cost cut drive. The Dublin-based firm upped its cost cutting targets by another $20m to $150m as it announced its results for the year to the end of March, [...]
Experian cuts successful as profits rocket May 20, 2009 EXPERIAN, the credit information group, yesterday cheered markets by unveiling a bumper 11 per cent jump in net profit to $486m (£313m), aided by an $80m cost cut drive. The Dublin-based firm upped its cost cutting targets by another $20m to $150m as it announced its results for the year to the end of March, [...]
Fed’s pessimism is a blow to US shares May 20, 2009 US stocks fell yesterday, led by financials in a late-stage sell-off, after the Federal Reserve gave a more pessimistic view on the economy, tempering hopes for a quick recovery. The Fed cut its 2009 forecast for gross domestic product and raised its outlook for unemployment, tempering the recent optimism that the economy might be turning [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 17, 2009 THE SUNDAYSTHE SUNDAY TELEGRAPHINDEPENDENT BEGS A MONTH TO SORT OUT DEBTIndependent News & Media (INM) is close to a standstill pact with its bondholders which would give the company a month’s breathing space to reorganise its debt. The future of the owner of The Independent newspaper has been in serious doubt after the group failed [...]
Trio of bidders go head to head in war for stake in broker Panmure Gordon May 14, 2009 HEDGE fund millionaire Bertrand des Pallieres went head to head with private equity firm BlueGem and a mystery bidder last night in the fight for a large stake in Panmure Gordon, one of the City’s oldest stockbrokers. Final proposals were due in by yesterday evening, in time for a board meeting at Panmure today to [...]
Rates left on hold as MPC split looms September 5, 2008 Bets were rising yesterday that the Bank of England meeting to determine the direction of interest rates was one of the most fraught on record. In the end the Monetary Policy Committee (MPC) decided to leave rates on hold at five per cent, but with members Danny Blanchflower and Charlie Bean going head to head [...]
InBev plans £1bn deal September 3, 2008 Belgian brewer InBev is planning to put its South Korean beer business up for sale, sources said yesterday. The move is an effort to shed a noncore asset and raise what could be roughly £1bn for its purchase of US brewer Anheuser-Busch. Deutsche Bank and JPMorgan Chase will run the auction for the business, called [...]
Sterling hits a record low against euro September 2, 2008 Pressure mounts as the Treasury prepares to slash the UK’s economic growth forecasts Gloomy comments by Alistair Darling, the Chancellor of the Exchequer, were yesterday blamed for pushing the pound to an all-time low against the euro. Sterling reached a 12-year low against the currencies of its major trading partners after Darling said the economy [...]
Atticus sees £2.7bn losses as downturn hits it hard September 2, 2008 Atticus, the high-profile New York hedge fund involved in the failed Barclays bid for ABN-Amro, has lost more than $5bn (£2.8bn) this year after its funds were battered by steep falls in financial stocks. The activist fund saw assets under management fall to around $14bn at the end of July, down from $20m last year [...]
Dresdner Kleinwort set for job cuts after Commerzbank seals the deal September 2, 2008 Dresdner Kleinwort employees were bracing themselves for a round of sweeping job cuts yesterday, after German bank Commerzbank completed a deal to buy Dresdner Bank from insurers Allianz at the weekend. Dresdner Kleinwort, led by CEO Stefan Jentzsch and his team employs about 5,500 staff in the UK, with 2,000 of those based in the [...]