Two month ban for Maradona outburst November 15, 2009 ARGENTINA coach Diego Maradona has been banned from any participation in the sport for two months and fined almost £15,000 for his foul-mouthed outburst at reporters. Maradona, who had been criticised in the press for his side’s lacklustre performances, erupted after Argentina sealed their place at next year’s World Cup with a 1-0 win in [...]
Yell set to take 3.8bn debt restructure to court October 28, 2009 TROUBLED directories publisher Yell will today say that it is prepared to ask the courts to push through the restructuring of its £3.8bn debt mountain, after it failed to secure agreement from enough of its lenders. Yell had until 5pm last night to get the required 95 per cent support from its 300 lenders for [...]
The FSA must make sure that its tough new approach doesn’t backfire November 24, 2009 FINANCIAL services firms have come under the increasingly intense gaze of the Financial Services Authority (FSA) in recent months. Its supervisory approach has changed dramatically as a result of the credit crisis. The upshot of this is that the risks for somebody who is FSA authorised, or is an “approved person” at an FSA authorised [...]
NatEx bidders need more time October 11, 2009 National Express is this week expected to give the Cosmen-CVC consortium a further two weeks to complete the due diligence required for it to secure loans for its £765m bid for the transport group. The consortium is said to have requested the deadline extension after NatEx complained about its tactics in gathering data, including offering [...]
NatEx bidders need more time October 11, 2009 National Express is this week expected to give the Cosmen-CVC consortium a further two weeks to complete the due diligence required for it to secure loans for its £765m bid for the transport group. The consortium is said to have requested the deadline extension after NatEx complained about its tactics in gathering data, including offering [...]
New figures reveal China’s growth burst November 1, 2009 HOPES of economic recovery in China were boosted by news yesterday that the country’s manufacturing sector grew at the fastest rate in 18 months in October. The purchasing managers index released by the state-sanctioned China Federation of Logistics and Purchasing rose to 55.2, nearly a full point higher than in September. This marked the eighth [...]
Bank plan could cost 40bn November 1, 2009 THE Government may have to find a further £40bn to fund the continuing restructuring of Lloyds, RBS and Northern Rock, it emerged yesterday. The biggest injection will be into RBS, which might receive as much as £26bn as a result of participating in the government’s toxic insurance scheme. Lloyds Banking Group will need up to [...]
Bank plan could cost 40bn November 1, 2009 THE Government may have to find a further £40bn to fund the continuing restructuring of Lloyds, RBS and Northern Rock, it emerged yesterday. The biggest injection will be into RBS, which might receive as much as £26bn as a result of participating in the government’s toxic insurance scheme. Lloyds Banking Group will need up to [...]
ANTI-BRIBERY RULES TO GET EVEN TOUGHER November 24, 2009 TOM EPPSPARTNER, RUSSELL JONES & WALKER BEFORElast week, some might have suspected the wave of criminal investigations into corporate corruption over the last 12 months was a blip. The inclusion of the Bribery Bill in the Queen’s Speech, however, should convince everybody that such investigations are here to stay. The bill, which is understood to [...]
BP and CNPC sign a huge Iraqi oil deal November 3, 2009 OIL major BP and China’s CNPC yesterday signed Iraq’s first major new oil deal since the 2003 US invasion, snapping up a lucrative development contract for the Rumaila oilfield – one of the world’s biggest. The 20-year contract for the southern oilfield is the first of several deals Iraq expects to sign in the coming [...]