Monday, October 19, 2009
Posted by About this Blog at 10:20 AM
Stagecoach signals fresh interest in Nat Express
National Express said it remained open to a tie-up with Stagecoach, its bus and train operator rival, in spite of pushing ahead with plans for an emergency rights issue.
National Express confirmed yesterday that Stagecoach had approached chairman John Devaney over the weekend proposing an all-share £1.7bn merger.
Kroll aims to bring investigative powers to credit ratings industry
Jules Kroll, the man who reinvested the detective agency as the modern multinational corporate security firm, now intends to apply his powers of deduction to the credit ratings industry.
Mr Kroll plans to start a business to challenge the bit three credit rating agencies in the first quarter of next year. The company, which aims to have $100m (£60m) in annual turnover by the end of its third year, will specialist in giving second-opinion ratings on complex securitised products.
BAA to open appeal
BAA is today due to appeal against a Competition Commission order to sell three of its UK airports, as it emerges that passenger numbers are set to fall for a second consecutive year for the first time since the second world war.
The airport operator, which owns seven UK airports including Heathrow, is appealing against a March commission decision that its market dominance meant it should sell Gatwick, Stansted and either Edinburgh or Glasgow.
Deadline extension likely for Yell restructuring
Yell is likely to require an extension on the deadline for its lenders to agree plans to restructure its £3.8bn debt pile.
The man behind Donington Park’s plans to stage next year’s British Grand Prix said he was confident of raising the £135m bond need to fund the renovation of the circuit ahead of the final deadline on Friday.
London sales boost
The weak pound and wealthy foreign shoppers contributed to a bounce in retail sales in the capital last month, two new studies have shown.
Pace gets ready
Consumer demand for high-definition television has been one of the few constants in the recession. But in the opinion of the head of Pace, the set-top box maker, a “supercycle” that will change the way we watch our main source of entertainment is beginning.
Diamonds on way back
De Beers’ flagship mines in Botswana are operating at about 80 per cent of capacity, signalling a marked improvement in the international diamond market less than a year after demand for the gems collapsed.
Fulham’s sales goal
Fulham Football Club has struck a marketing deal with the sister company of Boston Red Sox baseball franchise, in one of the more unusual pairings between an English and American sports team.
Under the deal, Fenway Sports Group will market the UK club in the US and sell the sponsorship rights to its shorts beginning with the 2011 season. It is also exploring selling the naming rights to Craven Cottage, Fulham’s stadium.
Labels: FT Update