Retail sales fall in May as pain worsens May 28, 2009 SHOPPERS are belt-tightening again, according to data released yesterday which shows that high street sales fell by more than expected in May. New figures from employers’ organisation the CBI showed that some 17 per cent more retailers reported a fall, rather than a rise, in sales during May. The data suggests that April’s rise, which [...]
Defensives beat a retreat as investors hedge their bets June 9, 2009 THE FTSE 100 ended flat yesterday, with commodity stocks tracking gains in raw material prices as the dollar eased but cigarette makers and pharmaceutical companies fell. The index closed down by 0.43 points at 4,404.79 in a choppy session, after losing 1.2 per cent on Monday. The weaker dollar boosted metal prices, which in turn [...]
BlackRock nears BGI takeover June 9, 2009 BLACKROCK looks set to seal the deal to buy Barclays Global Investors (BGI) as early as today, sources say. The deal would merge the two giant firms to create the world’s biggest money manager. The US bank is expected to pay Barclays up to $13bn (£8.1bn) in a mixture of cash and shares. It is [...]
Fears over Barclays sell-off drag the FTSE 100 down June 2, 2009 THE FTSE 100 ended down 0.7 per cent yesterday, hurt by banks after a major shareholder sold its holding in Barclays, although improving US pending home sales lent some support. The index closed 29.17 points lower at 4,477.02, giving up some of the previous session’s 2 per cent rise. Barclays topped the FTSE 100 losers’ [...]
FOCUS ON: IPSWICH, SUFFOLK May 21, 2009 GREEN FARM, NEAR STOWMARKET, IP14 3REPrice: Offers in excess of £975,000If you’re looking for the property that has everything then this is it. Believed to date from the 16th century, this listed barn conversion comes complete with swimming pool, tennis courts, and even a carp lake/boating pond. Inside, the house has recently been modernised but [...]
FORGET CANNES: CANARY WHARF’S FILM FESTIVAL IS COMING TO TOWN August 12, 2009 CANARY Wharfers should dust off their finery: there’s a film festival coming to town. OK, so it’s not quite Cannes – there’ll be no red carpet, much to the disappointment of preen-happy financiers, and designer dresses and tuxes are far from obligatory. But the Canary Wharf Film Festival, taking place between 3 and 7 September, [...]
FORGET CANNES: CANARY WHARF’S FILM FESTIVAL IS COMING TO TOWN August 12, 2009 CANARY Wharfers should dust off their finery: there’s a film festival coming to town. OK, so it’s not quite Cannes – there’ll be no red carpet, much to the disappointment of preen-happy financiers, and designer dresses and tuxes are far from obligatory. But the Canary Wharf Film Festival, taking place between 3 and 7 September, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]
BGI suitors aim to scupper CVC iShares deal May 17, 2009 FUND management firm Blackrock and Bank of New York Mellon are believed to have tabled bids for Barclays’ BGI unit, valued at around $10bn (£6.6bn). The division is up for sale as part of a “go-shop” clause within an already agreed deal for BGI subsidiary iShares, due to be sold to private equity house CVC [...]