U.S. investment bank JP Morgan has held talks with potential partners about forming a consortium to break up British bank HBOS, the UK's Telegraph newspaper reported on its Web site. National Australia Bank, named by the Telegraph as a potentially interested party, played down the report, while a UK industry source said HBOS had not
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British Airways is buying its French code-share partner L’Avion for GBP 54 mln (EUR 68 mln), in a deal that includes GBP 26 mln (EUR 33 mln) of cash in its business. L’Avion is a privately owned airline that operates two Boeing 757 aircraft between Paris Orly and Newark airport. Following completion of the deal,
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Euro bounced sharply higher from the 1.5640 support area where we had indicated we would cover our short euro positions yesterday, but unfortunately, it did not reach the 1.5590-1.5610 strong support area where we had indicated we would establish new long positions. The bounce since 1.5628 NY lo on Thursday failed at the 1.5738 level
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The Cyprus Stock Exchange announced that it has accepted the listing of 116,159 Capital Securities of Marfin Popular Bank Public Co (CPB) of nominal value EUR1000 each with a stable annual rate of 6.50% for the first four three-month periods. Then, the interest rate will be revised at the beginning of each period and would
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EU Competition Commissioner Neelie Kroes congratulated Cyprus on its State aid control, noting that there ''has been a remarkable downward trend since joining the EU.'' In a lecture organised by Cyprus Chamber of Commerce entitled ''The role of the Competition Policy in the EU today,'' the Dutch Commissioner pointed out that with such a strong,
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Innovation activity in Cypriot enterprises has recorded a decrease during the period 2004-2006 compared to the period 2002-2004. According to the results of the Innovation Survey carried out by the Statistical Service (CyStat) among enterprises with 10 or more employees, 39.6% of Cypriot enterprises had some form of innovation activity during the period 2004 –
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The issues of illegal immigration and political asylum in Cyprus, were discussed at a joint meeting the Cypriot Ministers of Justice and Public Order and Interior, Kypros Chrysostomides and Neoclis Sylikiotis, respectively, held in Brussels with the Vice President of the European Commission, Responsible for Justice, Freedom and Security, Jacques Barrot. During the meeting, the
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By Matt Falloon LONDON, July 25 (Reuters) – British economic growth is expected to slow a little bit more in the second quarter and analysts say it won't be long before the economy flatlines or even starts to shrink. Economists polled by Reuters expect GDP growth in the second three months of the year to
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Rising costs and depressed demand could reshape Britain's retail industry over the next 10 years, with bankruptcies and job losses set to rise as companies struggle to adapt, a report showed on Friday. The cost of running a retail business is set to explode over the next decade as tighter environmental regulations, higher energy prices
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New York State sued UBS on Thursday, accusing the Swiss bank of committing a "multi-billion dollar fraud" by steering broker clients into auction-rate securities that became impossible to sell once the credit market tightened. The lawsuit, filed by New York State Attorney General Andrew Cuomo, accuses UBS of deceptively selling auction-rate securities as cash equivalents.
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