Unilever is hoping for a good hair day

first_imgThe acquisition of the firm behind household names such as V05 and TRESemme marks the single biggest Unilever acquisition in almost a decade.The new brands will complement Unilever’s existing portfolio, which includes Dove, Clear and Sunsilk in hair care, and Vaseline in skincare. It will also enhance Unilever’s presence in key emerging markets such as Mexico.Moreover, the deal will bolster Unilever’s flagging hair care sales in its core US market. In the last year Alberto Culver generated sales of $1.6bn and earnings of $250m.It is also likely to herald as-yet unspecified cost savings. Unilever is hoping for a good hair day Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof whatsapp Unilever yesterday announced it will buy US hair and skin care specialist Alberto Culver in a deal worth $3.7bn (£2.34bn). Execution Noble called the deal “more evidence of a strategically and financially sound re-investment philosophy at Unilever” and Charles Stanley reiterated its “accumulate” recommendation in the wake of the news.The acquisition follows a yet-to-be completed deal to buy Sara Lee’s body care division for $1.3bn. The firm’s largest value acquisition was the massive $20.3bn acquisition of Bestfoods in 2000. Chief executive Paul Polman said: “Personal care is a strategic category for Unilever and growing rapidly. “Ten years ago it represented 20 per cent of our turnover; strong organic growth has driven it to now reach over 30 per cent, with strong positions in many of the emerging markets.”Unilever shares closed up 1.28 per cent on the back of the news yesterday. whatsapp Share Monday 27 September 2010 8:42 pm Show Comments ▼ KCS-content Tags: NULLlast_img read more

StanChart hires 4,000 staff in Asia

first_imgTuesday 9 November 2010 9:11 pm Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution StanChart hires 4,000 staff in Asia Standard Chartered yesterday revealed it will create 4,000 jobs in Asia, fuelling fresh fears that London is missing out on a global banking jobs boom.A StanChart spokesman told City A.M. the majority will be based in Singapore, with some in Indonesia.The announcement came as David Cameron and George Osborne arrived in Beijing to promote UK exports to China. Meanwhile business secretary Vince Cable, also part of the China convoy, claimed banks threatening to quit the UK over regulation and tax are merely sabre-rattling.He said banks reconsidering their domicile is “a familiar negotiating technique,” albeit one that should “be taken seriously”. “You have got to balance that against our national interest. Banks have to be safe and that means that the regulations have to take into account the potential problems created by cash bonuses,” he told Bloomberg TV.Cable was responding to RBS chairman Sir Philip Hammond who warned banks could be forced out of Europe as a result of draconian new rules, which include strict capital requirements. HSBC also slammed UK?and EU?policies last Friday.Last month City A.M. revealed Barclays is weighing up the costs of quitting its UK base. Standard Chartered has also considered its position but has no immediate plans to relocate. center_img Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Share whatsapplast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img whatsapp WHAT THE OTHER PAPERS SAY THIS MORNING KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald FINANCIAL TIMESIRISH BANKS FACE LOANS SELL OFFIreland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will have to sell tens of billions of euros worth of legacy loans in a matter of months. FSA FORCES RISE IN PROBES BY EXPERTSThe City watchdog is forcing a record number of financial services companies to hire outside experts to investigate their inner workings, prompting complaints over the rising costs of regulation. Since April, the Financial Services Authority has ordered 90 companies to commission and pay for “skilled persons reports” into areas such as capital adequacy, governance and complaint handling.PANEL SET UP TO DRIVE PROPERTY SAVINGSTop property professionals have been approached by the government to advise on a strategy to drive cost savings across its £370bn real estate portfolio. Leading real estate bankers and advisers have been invited to sit on a panel of experts to help the Cabinet Office gain efficiencies across the government estate. RUSSIANS TO GAIN US URANIUM FOOTHOLDA Russian state-owned company is set to control up to half of US uranium output by the middle of the decade, after American authorities gave the go-ahead to the partial takeover of Uranium One of Canada by ARMZ. The deal is a sign of how, after a three-decade hiatus in new reactor projects, the US has lost control of key parts of the nuclear supply chain.THE TIMESFIGHT AGAINST BRIBERY BECOMES WAR WITHOUT FRONTIERSThe Serious Fraud Office is targeting foreign companies suspected of paying bribes under new laws that significantly increase the regulator’s international reach. Richard Alderman, the director of the agency, said that the SFO would use sweeping powers under the new Bribery Act to pursue non-British multinationals that use bribes to secure contracts, even if their illicit deals have little or no connection to the UK.FEE TO HELP BANKS WAS SET TOO LOW, SAYS AUDIT OFFICEThe Government will be criticised for not charging Lloyds and Royal Bank of Scotland a high enough fee for the giant insurance scheme for their toxic loans. The criticism will be contained in a report this week on the scheme by the National Audit Office. The Daily TelegraphBERNANKE’S QE3 FACES STIFF RESISTANCEBen Bernanke, chairman of the Federal Reserve, was expected to open the way for a third blast of bond purchases in a 60 Minutes interview, but any such move is likely to face resistance from Fed hawks and mounting criticism in Congress. Transcripts suggest that Mr Bernanke is sufficiently worried about the risk of an economic relapse next year – and a slide towards deflation – that he is already mulling further “credit easing” or QE3 as it is dubbed. QATAR SHARES HIT TWO-YEAR HIGH ON WINNING WORLD CUP BIDQatar’s stock market index surged to a two-year high yesterday, the first trading day after the Gulf state won the bid to host the 2022 football World Cup. The Qatar Exchange index closed up 292 points at 8,477.32 points.THE WALL STREET JOURNALEUROPEINDIA PRESSES FOR ACCESS TO KEY BLACKBERRY DATAIndia’s government is in discussions with companies that use Research in Motion’s BlackBerry to gain access to employees’ secure communications when seen as necessary, said a top Indian official. Home Secretary GK Pillai also dismissed reports that the smartphone maker’s services will be blocked if the government’s surveillance demands aren’t met by the end of January.SPAIN REOPENS AIRSPACESpanish airports and airlines were operating at full capacity on Sunday after the government reopened the country’s airspace and forced striking air-traffic controllers to return to work. The government decreed a state of alarm after controllers throughout the country walked off the job on Friday afternoon. whatsapp Tags: NULL Share Show Comments ▼ Sunday 5 December 2010 11:42 pmlast_img read more

Floods to be Australia’s most expensive disaster

first_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Floods to be Australia’s most expensive disaster Monday 17 January 2011 3:55 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp alison.lock AUSTRALIA’S devastating floods are likely to be the country’s most expensive disaster on record, the national treasurer said yesterday.Record rainfall, which has flooded an area three times the size of the UK, may leave Queensland state alone with a A$10bn (£6.2bn) damage bill, while Australian GDP is expected to fall by one per cent.And analysts warned that the long-term impact on industry wold lead to higher and more volatile prices for coal, steel, nickel and other commodities.“It looks like this is possibly going to be, in economic terms, the largest natural disaster in our history,” said Australian treasurer Wayne Swan. Aberdeen Asset Management, which holds Australian stocks in its Asia Pacific fund, said share prices had been hit.“Australian equities have slipped against regional and global benchmarks, led down by the consumer staples sector which is anticipated to be hit harder than others by the flooding. Behind this is interrupted demand, the write-off of this season’s crops and imminent food scarcity,” it said in a briefing.Just 15 per cent of Queensland’s coalmines were at full production yesterday, the Queensland Resources Council said, estimating that lost sales totalled A$2.3bn. Nearly two-thirds of global exports of coking coal, used to make steel, come from Australia and coal and steel prices have spiked in anticipation of shortages.Steel has risen 37 per cent since early November to a two-year high of $783 a tonne, while coking coal is trading at $300 per tonne, up from standard levels of $215 per tonne, consultancy CRU said. Experts estimate it could reach $350 to $500 per tonne. Aberdeen said mines may struggle to make up lost production as they were already operating at full capacity before the floods.“The knock-on effects are felt most by Chinese customers who are now scrambling for alternative supplies. Affected contracts cover around 65 per cent of Queensland coal exports,” the briefing said.Thermal coal, another key manufacturing input, has also seen exports slashed.“Taken at its worst, the present immediate cut in export can be considered as 78 per cent of state capacity, or about 35 per cent of the country’s recent export level. This represents about seven per cent of global exports,” said Societe Generale analyst Emmanuel Fages. He said the industry would take up to six months to recover, leaving the market “tighter, hence higher and more volatile” in the long term. “Once this consolidation episode over, we think that the real impact of the floods is ahead of us,” he said. “Any further shock will lead to rapid price spikes. “We expect a nervous market featuring higher average prices and higher volatility,” he said. center_img Share whatsapp Show Comments ▼ Tags: NULL last_img read more

3i pays £18m for MIM

first_img Share 3i pays £18m for MIM Show Comments ▼ Private equity group 3i has paid £18.3m to Mizuho Corporate Bank for its debt management business Mizuho Investment Management (MIM)Mizuho Investment Management specialises in the management of funds raised to invest in corporate debt, providing investment advisory services in return for fees.MIM has raised eight funds, totalling over £4bn, since 2005 and had £3.7bn assets under management at 31 March last year.3i said in a statement: “MIM has a high quality loan portfolio and an established fund raising track record with a diverse investor base.”3i’s existing debt management activities will be merged with MIM to form a distinct business line, 3i Debt Management, with assets under management of around £4bn.Jeremy Ghose, chief executive of MIM, will become managing partner and chief executive of 3i debt management and will join 3i’s leadership team.Andrew Golding, 3i Partner and head of the banking team, will take the role of managing director. John Dunne whatsapp Wednesday 16 February 2011 3:02 am whatsapp Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Tags: NULLlast_img read more

Euro zone business activity bounces back

first_img John Dunne Euro zone business activity bounces back Eurozone manufacturing and service activity in February hit the highest level since July 2006, according to figures released today.The Eurozone composite output index compiled by the Markit research firm rose 1.4 points from January to 58.4 points this month. It said the latest reading “signalled the strongest monthly expansion since July 2006 and one of the strongest growth rates in the near 13-year history of the survey.”Service business activity alone rose to 57.2 points from 55.9 points in January, with manufacturing output at 61.1 points, up from 59.4 points for a 10-month high, Markit said in a statement.The eurozone manufacturing sector purchasing managers index, a forward looking measure, hit 59 points, its highest since June 2000, up from from 57.3 points.A reading above 50 indicates activity is expanding.Markit said the figures showed “growth has accelerated sharply since hitting a low last October, with manufacturing continuing to lead the renewed upturn in February… the service sector has also seen an improved performance.” Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Share Tags: NULL whatsapp whatsapp Monday 21 February 2011 5:49 amlast_img read more

Apple investors reject Jobs succession plan call

first_img Apple investors reject Jobs succession plan call Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Apple shareholders have rejected demands that the company disclose a succession plan for ailing chief executive Steve Jobs.But investors at its annual meeting approved a proposal that the world’s most valuable technology company should adopt majority votes for board directors. With co-founder and chief executive Jobs sidelined indefinitely with an undisclosed medical condition, restive investors have demanded more information about the company’s future.Shareholders voted down a proposal to outline its plan for who will succeed Jobs.However, they passed a requirement for a majority vote before appointing unopposed board directors, in a key victory for influential shareholder Calpers, the largest US pension fund.Investor advisory firm Institutional Shareholder Services had thrown its weight behind a shareholder proposal to force Apple to disclose a succession plan.The voting results were preliminary, and no details were yet available.Tim Cook, Jobs’ top lieutenant, took the spotlight as shareholders dug for answers not just about Jobs, but also the company’s succession plan, what it might do with its $60bn (£37.1bn) cash pile, and what devices may follow the iPad and the iPhone in coming years. Wednesday 23 February 2011 3:14 pm Share Show Comments ▼center_img whatsapp alison.lock whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULLlast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img WHAT THE OTHER PAPERS SAY THIS MORNING KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Share Show Comments ▼ Wednesday 23 February 2011 9:19 pm whatsapp FINANCIAL TIMESN IRELAND’S ECONOMIC WOES BOOST TERROR GROUPS, WARN OFFICIALSThe parlous state of Northern Ireland’s economy is acting as a recruiting sergeant for dissident republican groups, senior police and security figures warned, raising questions about the pace of spending cuts in the region. The province’s power-sharing executive has been told to find savings of £1.6bn during four years, while David Cameron has said that he wants to reduce its huge reliance on public sector jobs.INVESTORS WARN ON BRIBERY ACT DILUTIONAny dilution of the Bribery Act would be bad for Britain’s reputation as a centre for investment, according to some of the world’s largest institutional shareholders. In a letter to Jeremy Heywood, the Downing Street permanent secretary, the International Corporate Governance Network has asked for reassurance that the act will be implemented.WORKSPACE AND BLACKROCK IN £100M PROPERTY JOINT VENTUREWorkspace Group, the London property company, is to establish a £100m joint venture with BlackRock, the fund manager, to buy high-yielding property in areas of the market ignored by many real estate investors. Workspace typically buys then turns former industrial and office buildings into more modern premises.COST-CUTS BEHIND REXAM GROWTHThe chief executive of Rexam said the consumer packaging company behind Carlsberg and Ref Bull cans was set to become “boringly predictable” again following a difficult period that forced it into a £350m rights issue. Cost cutting helped Europe’s biggest maker of beverage cans lift annual underlying operating profits by a fifth.THE TIMESBBC CHIEFS STILL COLLECTING BONUSES DESPITE BANThe BBC is still secretly paying hundreds of thousands of pounds in bonuses to executives, despite a public pledge that it would scrap them. A number of top managers have received payments totalling nearly £500,000 in the past two years as part of ongoing contracts.ESPORTA IN PLAY AS RIVALS SHOW INTERESTThe French bank that owns the Esporta health club chain is understood to be considering its options for the business after receiving unsolicited approaches from rival operators. Interest in the Société Générale-owned chain is believed to have been sparked by the bank’s decision last autumn to test the water on a possible £200m sale and leaseback of 17 of Esporta’s tennis-based clubs.The Daily TelegraphFED MEMBER CALLS FOR WALL STREET BANKS TO BE BROKEN UPKansas City Federal Reserve Bank President Thomas Hoenig has called for Wall Street’s financial giants to be broken up to avoid another another crisis. “I am convinced that the existence of too-big-to-fail financial institutions poses the greatest risk to the US economy,” Hoenig said. “They must be broken up.”F1 TO LOSE $100M FROM BAHRAIN GRAND PRIX CANCELLATION Formula One is expected to lose around $100m (£60m) in revenues due to the cancellation of the season-opening Bahrain Grand Prix, according to new data. Information from F1’s trade guide, Formula Money, show that the teams are expected to lose an estimated $40m from missing Bahrain, with Ferrari set for the biggest fall at $11m.THE WALL STREET JOURNALGOLDEN SHARE AN OPTION FOR EADS Germany’s government is weighing a variety of ways to preserve its influence at Airbus parent EADS, including a partial purchase of Daimler AG’s stake in the European aeronautics company or creating a so-called golden share, but faces numerous hurdles in pursuing any of them. The German cabinet met yesterday to discuss how to remain a counterweight to French power at EADS. GOOGLE PENALISES OVERSTOCK FOR SEARCH TACTICSGoogle has penalized Overstock.com in its search results after the retailer ran afoul of Google policies that prohibit companies from artificially boosting their ranking in the Internet giant’s search engine. Overstock’s pages had recently ranked near the top of results for dozens of common searches. whatsapp Tags: NULLlast_img read more

Vincent Tchenguiz’s Peverel in administration

first_img Vincent Tchenguiz’s Peverel in administration Show Comments ▼ Embattled tycoon Vincent Tchenguiz’s property management company Peverel has entered administration after failing to repay a loan.Bank of America Merrill Lynch demanded repayment within 24 hours of a £124.6m loan plus £11.4m in accrued interest, another Vincent Tchenguiz company, Consensus Business Group, said in a statement.The demand, on March 10, came just a day after Vincent and his brother Robert Tchenguiz were arrested with seven other people for a Serious Fraud Office investigation into the collapse of Iceland’s Kaupthing Bank.“As a consequence, the Board of Peverel Group Ltd, a guarantor to the loan, had no choice but to appoint an administrator,” CBG said in a statement.CBG chairman Vincent Tchenguiz said he believed Bank of America Merrill Lynch’s demand was a “direct result of the very public commencement of the Serious Fraud Office’s investigation into events surrounding the collapse of Kaupthing bank.”“We have been in consensual discussions with Bank of America Merrill Lynch, since late 2009, about the financial structure of the Group and we regret that their sudden actions have forced this Group in to administration,” he said.A CBG spokesman said the loan was originally with Aztec Acquisitions, and guaranteed by Aztec Opco Developments, a holding company of Peverel Group Ltd.Accounts filed in January this year showed Aztec Opco breached its £116.6m of loan covenants in 2009, but had been hoping to restructure it since then.CBG said Peverel was part of a residential business group that owns about 284,000 residential freeholds, manages about 196,500 residential units and manages the freehold asset of about 64,000 residential units.“The structure carries some £2bn of debt and £2bn of associated fixed rate and RPI (retail price index) swaps,” CBG said.The debt was provided by Allied Irish Bank; Bank of America Merrill Lynch; Bayerische Landesbank; Citibank; Deutsche Bank; Lloyds Banking Group; Prudential UK; Royal Bank of Scotland; and UBS together with bond holders in a securitisation.Vincent Tchenguiz bought Peverel from its U.S. owner Holiday Retirement Corporation in 2007, funding the purchase with £500m finance from Merril Lynch, before the US bank was taken over by Bank of America. whatsapp whatsapp center_img Share Tags: NULL Monday 14 March 2011 4:24 pm alison.lock last_img read more

UK unemployment falls

first_img Show Comments ▼ UK unemployment falls Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald UK unemployment fell by 17,000 in the three months to the end of February to 2.48m, according to official figures.The Office for National Statistics (ONS) said the jobless rate among men had fallen, but had risen among women.Youth unemployment stood at 963,000, with the jobless rate for young people remaining above 20%.The number of people claiming jobseeker’s allowance fell by 700 between February and March to 1.45m, the ONS said. Wednesday 13 April 2011 4:54 amcenter_img More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com whatsapp whatsapp John Dunne Tags: NULLlast_img read more