US equities fall on interest-rate fears June 10, 2009 US stocks fell last night on worries that rising interest rates could put a damper on consumer and business spending, but stocks pared losses late in the session on a bond-market rebound. The market had extended losses after a 10-year Treasury note auction sparked a sell-off in bonds, pushing yields briefly above 4 per cent [...]
FOCUS ON HBOS: HOW A LANDMARK DEAL WENT BAD May 17, 2009 OctoberBlank and Lloyds chief executive Eric Daniels call HBOS chief executive Andy Hornby to discuss the possibility of a takeover, as HBOS struggles with its burdensome property assets. 15 September 08Gordon Brown approaches Blank at a cocktail party and assures him that competition law will not be an obstacle to any potential takeover of HBOS. [...]
Eurozone data brings cheer May 21, 2009 THE eurozone’s services and manufacturing sectors contracted less than expected in May as firms saw the pace of decline in new orders ease, hinting the worst of a deep recession may be over, surveys showed yesterday. Markit’s Eurozone Flash Services Purchasing Managers Index (PMI) rose to 44.7 in May from 43.8 last month, beating the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 2, 2009 FINANCIAL TIMES M&B SEEKS TO FEND OFF INVESTOR REBELLIONMitchells & Butlers is prepared to head off a potential rebellion by offering its two largest shareholders board representation. Drummond Hall, M&B chairman, is understood to be in talks with Joe Lewis, the Bahamas-based billionaire, and Elpida, the investment vehicle for Irish horseracing tycoons JP McManus and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2009 FINANCIAL TIMES SCRAPPAGE INCENTIVES REVIVE CAR DEMAND Car sales rose in several big European and Asian markets last month, lifted largely by government scrapping incentives aimed at reviving consumer demand. The numbers give weight to the notion that stimulus measures are pulling the global motor industry out of its deep downturn, but carmakers and industry [...]
West Ham taken over by Icelandic banks as Gudmundsson era ends June 8, 2009 WEST HAM’S new owners CB Holding have reassured fans that manager Gianfranco Zola and assistant Steve Clarke are going nowhere. And the asset management company – made up of several Icelandic banks – insist Zola will be given money to spend this summer. CB Holding acquired the Premier League club yesterday in a takeover estimated [...]
Oil stocks push FTSE 100 lower for second day in row June 3, 2009 THE large cap index lost 2.1 per cent yesterday, dented by weakness in commodity stocks, banks and index heavyweight Vodafone, which traded ex-dividend. At the close, the FTSE 100 was down 93.60 points at 4,383.42, albeit above the session low of 4,359.33. Oil producers were the standout losers, retreating after recent gains in line with [...]
Oil stocks push FTSE 100 lower for second day in row June 3, 2009 THE large cap index lost 2.1 per cent yesterday, dented by weakness in commodity stocks, banks and index heavyweight Vodafone, which traded ex-dividend. At the close, the FTSE 100 was down 93.60 points at 4,383.42, albeit above the session low of 4,359.33. Oil producers were the standout losers, retreating after recent gains in line with [...]
OTHER SUMMER HIGHLIGHTS June 14, 2009 Matisse, Thyssen-Bornemisza Museum, MadridUNTIL 20 SEPTEMBERwww.museothyssen.orgIn 1917 Matisse moved from Paris to Nice where he forged his unique style, of which this show is a celebration. It was a naturalistic, muted period that produced paintings “unjustly disparaged by avante-garde critics,”according to the museum’s artistic director. Highlights of this 70-work strong show include the intimate and [...]
Barclays bet makes Abu Dhabi 1.5bn June 2, 2009 AN Abu Dhabi-based sovereign wealth fund sold more than 11 per cent of Barclays yesterday, pocketing a £1.5bn profit less than seven months after making its £3.5bn investment. In an incredibly fast turn-around, Credit Suisse placed around £3.5bn of instruments – which were due to convert to Barclays shares by the end of the month [...]