FOOTBALL-CRAZY PWC GETS STUCK IN ON ENGLAND’S WORLD CUP BID October 28, 2009 GOOD news for the multitude of football fans in the City: the team behind England’s bid to host the 2018 FIFA World Cup have secured themselves a powerful ally. PricewaterhouseCoopers, the accountancy giant, today announces it is the first sponsor to officially back the bid, responsible for working on crucial aspects of the proposal such [...]
The long arm of US litigation is reaching over the Atlantic October 27, 2009 A COURT case launched in New York this month by shareholders from England, France and the Netherlands against French media company Vivendi, alleging fraud, has struck fear into European executives worried that they too might find themselves on the receiving end of US litigation. It is rare for the American courts to allow foreign shareholders [...]
TOP BANKER HIRED TO SPLIT UP ROCK October 27, 2009 SENIOR UBS banker Robin Budenberg is set to be named today as the new chief executive of UK Financial Investments (UKFI), the Treasury unit that manages the government’s holdings in UK banks. Budenberg’s first job will be to oversee the break up of Northern Rock into a “good” and a “bad” bank – a plan [...]
Postal strife hurts Barratt October 27, 2009 PROPERTY group Barratt Developments yesterday voiced concerns that national postal strikes might affect the take-up of its £720m rights issue. Barratt Developments issued a notice to shareholders urging them to promptly take up their share entitlement, or use another courier service to return their applications. In a statement to the stock market yesterday, the company [...]
OUT OF OFFICE October 27, 2009 MOTHERLAND Having swept the awards at last year’s Edinburgh Fringe Festival, Motherland, a play recounting the true stories of women affected by the Iraq and Afghanistan conflicts, is currently enjoying a three week run in London. The cast of four women play 16 different characters – mothers, daughters, wives and lovers of soldiers sent off [...]
TUC mediates more talks on postal strikes October 26, 2009 CRUNCH talks to avoid further postal strikes enter their second day this morning, as Royal Mail bosses and Communication Workers Union (CWU) leaders thrash it out at the TUC headquarters in London. The talks come after two days of industrial action from postal workers last week, which threw businesses into turmoil, drew criticism from politicians [...]
Post strike costs London 500m as talks restart October 25, 2009 POSTAL strikes are set to cost London more than £500m in lost business, the London Chamber of Commerce (LCCI) will reveal today. The news comes as fresh talks open up between Royal Mail and the Communication Workers Union (CWU), mediated by Brendan Barber, the general secretary of the Trades Union Congress. CWU members walked out [...]
Lloyd Webber diagnosed with cancer October 25, 2009 ANDREW Lloyd Webber has been diagnosed with prostate cancer, a publicist for the composer and theatre tycoon confirmed yesterday. “The condition is in its very early stages,” said the publicist. “Andrew is now undergoing treatment and expects to be fully back at work before the end of the year.” Lloyd Webber is best known for [...]
THE LONDON REPORT October 22, 2009 The FTSE 100 closed one per cent, or 50.49 points, lower yesterday at 5,207.36, as weaker crude and metals weighed on energy stocks and miners. The index has rallied more than 50 per cent since hitting a low in early March, and is up 17 per cent this year. Energy stocks suffered with crude slipping [...]
Q&A: INTERIORS October 22, 2009 ALAN WAXMAN MANAGING DIRECTOR AT DEVELOPER LANDMASSQ.Dear Alan, I have just bought a wreck of a house and have a budget of £1m to do it up so that I can live in it. Where do I start?A.When developing a property you need to decide whether you are going to oversee the project yourself or [...]