How to stay cool on the snow THE weather’s cold, but you want to spend all day on the slopes, right? Luckily the latest gear will keep you toasty in spite of the elements. And the 2012-13 season includes enough new gadgets to help even novice skiers look like pros – and measure your progress along the way. For a jacket that [...]
Banking shares rise on FTSE 100 as UBS fined $1.5bn The blue chip index moved towards nine-month highs this morning, as optimism of a US budget deal boosted the FTSE 100. Financial shares were in the spotlight, as Swiss bank UBS agreed a $1.5bn (£940m) fine for manipulating the Libor benchmark. The redress was in line with expectations, and UBS shares were trading around 0.3 [...]
Nissan to build new car at Sunderland plant Japan’s Nissan will invest around £250m to build a new luxury car at a plant in England, creating around 1,000 jobs. The carmaker will build a new model of its Infiniti luxury brand in Sunderland from 2015. The Sunderland plant is Britain’s largest car plant and one of the most productive in Europe. Britain’s largely [...]
MPC predicts above-target inflation in 2013 December 19, 2012 Inflation will remain above the Bank of England’s target for the next year, the Monetary Policy Committee December meeting minutes revealed this morning. Consumer price inflation defied expectations to remain at 2.7 per cent in November, official figures showed yesterday, due to a greater-than-expected contribution from university tuition fees and higher food prices. “Inflation was [...]
Sportingbet sees trading uptick December 19, 2012 Bid target Sportingbet said this morning that trading had picked up in the last part of the year, as the negotiations over William Hill’s joint takeover look set to come to an end. In a statement before the gaming group’s AGM, Sportingbet said that it would meet its current expectations for the full year ending [...]
Lloyd’s of London sees Sandy claims of up to $2.5bn December 19, 2012 The Lloyd’s of London insurance market said this morning that Hurricane Sandy claims are between $2bn and $2.5bn (£1.25 and £1.55bn). Lloyd’s said that it would be able to pay out with “minimal impact” on its members’ capital, and it wouldn’t affect the central fund – a reserve fund used to meet claims if a [...]
UBS hit with £940m fine for Libor-rigging December 19, 2012 Swiss bank UBS has been hit with a CHF1.4bn (£943m) fine to resolve Libor rigging allegations. The penalty agreed with US, UK and Swiss regulators is more than three times the $450m (£277m) fine levied on Barclays in June, also for rigging the Libor benchmark rate used to price financial contracts around the globe. UBS [...]
US backlash grows over weapons sales December 18, 2012 WALL Street investors yesterday moved to distance themselves from America’s powerful gun industry amid growing public anger following the deadly shooting at Sandy Hook elementary school in Connecticut. In a pivotal move throwing Wall Street financiers into the heart of the US gun debate, private equity titan Cerberus Capital Management said it would sell the [...]
Bumi investors want Takeover Panel to get a move on December 18, 2012 FEW corporate situations have been quite as embarrassing for the reputation of the City of London as the preposterous mess that is currently Bumi. Bumi’s origins date back to the creation of a special purpose vehicle called Vallar, led by Nat Rothschild, that raised £600m in June 2010 for the purpose of investing in the [...]
Orange tops complaints list after broadband hike December 18, 2012 A CONTROVERSIAL decision from mobile firm Orange to start charging some customers extra for its broadband service has seen complaints about the operator rocket, figures from industry watchdog Ofcom have revealed. The regulator’s data for the third quarter of the year, published yesterday, showed that Orange saw the highest level of complaints out of any [...]