BEST OF THE BROKERS August 11, 2009 VODAFONENomura said that Vodafone’s European assets declined 2.7 per cent faster than its main rivals in the June quarter and the underperformance has increased over the past year. The broker is concerned that its forecasts assume a sudden return to stable revenue share next calendar year. It fears this is too optimistic and retains its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2009 FINANCIAL TIMES DEUTSCHE BANK BACKS €300M SAL OPPENHEIM INJECTIONDeutsche Bank has backed a €300m ($423m) injection of capital for Sal Oppenheim as the two banks continue their talks over a possible equity shareholding. Sal Oppenheim, a 220-year-old institution that claims to be Europe’s largest biggest independent private bank, said the equity injection was made by [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2009 FINANCIAL TIMES BBC ARM WINS COURT RULING ON 2ENTERTAINBBC Worldwide, the BBC’s commercial arm, has won a court case against the administrators of Woolworths over the value of their 2Entertain joint venture. The decision at the High Court in London is likely to face an appeal by Deloitte, the administrators, who are fighting to maximise [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2009 FINANCIAL TIMES BBC ARM WINS COURT RULING ON 2ENTERTAINBBC Worldwide, the BBC’s commercial arm, has won a court case against the administrators of Woolworths over the value of their 2Entertain joint venture. The decision at the High Court in London is likely to face an appeal by Deloitte, the administrators, who are fighting to maximise [...]
Razorfish bought by Publicis for $530m August 9, 2009 FRENCH advertising group Publicis yesterday agreed to buy Razorfish advertising agency from technology giant Microsoft for $530m (£317m) in cash and stock. Publicis beat off around eight interested companies for Microsoft’s unit, including the UK’s WPP plc and Japanese firm Dentsu. The Paris-based group’s chief executive Maurice Levy said the price paid was the result [...]
Razorfish bought by Publicis for $530m August 9, 2009 FRENCH advertising group Publicis yesterday agreed to buy Razorfish advertising agency from technology giant Microsoft for $530m (£317m) in cash and stock. Publicis beat off around eight interested companies for Microsoft’s unit, including the UK’s WPP plc and Japanese firm Dentsu. The Paris-based group’s chief executive Maurice Levy said the price paid was the result [...]
NOMURA WALL CANDY IMPRESSES ART-LOVING FORMER LEHMANITES July 29, 2009 AND SO it emerges that Lehman Brothers is preparing to sell 650 of its prized modern and contemporary artworks at auction in the States this winter, hoping to raise a total of $1m for its creditors. (Not that the piddling amount will contribute much to levelling its $250bn debt pile, but every little helps, as [...]
UK stocks keep on rallying buoyed by energy climbers July 27, 2009 BUOYANT energy stocks and miners helped Britain’s top share index rise for a record-equalling 11th straight session, though gains were limited by falls on Wall Street after corporate earnings disappointed. The FTSE 100 was up 9.52 points, or 0.2 per cent at 4,586.13, hitting its highest closing level since 5 January. The index has risen [...]
London lures businesses despite high tax regime July 19, 2009 WITH the news that major global corporations such as McDonald’s are planning to move their European headquarters from London to Geneva, readers may wonder how worried we should be about losing critical business mass to other European cities. Business tax is indeed one of the battlegrounds of international competitiveness. Even before the 2008 crisis we [...]
McDonald’s to swap London for Geneva July 12, 2009 FAST food giant McDonald’s yesterday confirmed it was joining the growing list of multinational companies to have quit the UK and relocate their European headquarters. The US chain, which runs 1,200 restaurants in Britain, plans to move from its current headquarters in East Finchley, north London, to Geneva by the end of the year. McDonald’s [...]