Business and City in Brief

Heron faces

bond threat A holder of a small number of Heron International's Swiss bonds has started legal action to get his money back. But Heron denied the move was a threat to talks on restructuring its pounds 1bn debt which, it said, were proceeding well.

Banking sources said detailed proposals on the restructuring were expected to be presented to the banks by Heron on Tuesday.

Networks inquiry

Oftel, the telecommnications watchdog, has announced an investigation into the Cellnet and Vodafone networks to give 'an independent measure of performance from the customer's point of view'. Results will be published quarterly.

Rail link backed

Bankers to Olympia & York's troubled Canary Wharf complex said they were open to all options on funding a planned Underground rail link to rescue the project.

Title exchange

Emap has been given the go- ahead to buy the Northampton Mercury Company from United Newspapers in an exchange of titles worth pounds 11.35m. United Newspapers will acquire Emap's South West Wales Newspapers business.

F&C shuffle

James Ogilvy has replaced Oliver Dawson as chairman of Hypo Foreign & Colonial Management (Holdings). Michael Hart takes over from Mr Dawson as chairman of F&C Management. Mr Dawson remains as the group's chief investment officer.

Happy taxpayers

A survey for Inland Revenue by Research International has shown that 65 per cent of taxpayers are satisfied, and 10 per cent dissatisfied, with the overall service.

CBI energy call

The Confederation of British Industry says a Brussels plan for an energy/carbon tax will delay action to curb global warming and has urged the Government to step up energy- saving.

Steel plea

European steel makers, hit by low demand and weak prices, have called for EC intervention to save 50,000 jobs. They want new limits on Eastern European imports and a Community plan to cut excess capacity.

Housing slows

New US housing completions fell 7.3 per cent in August to a seasonally adjusted annual rate of 1.132 million units.

Stop trucking

The European Community is to start legal action against Italy for giving preferential tax breaks to local trucking firms.

World Markets

New York: Although profit- taking trimmed the advance the Dow Jones Average was showing a 27.01 points gain to 3,201.42 by the close.

Brussels: The BEL 20 index was up 7.30 points at 1,099.84.

Frankfurt: The DAX index rose 32.96 to 1,465.50.

Madrid: The general index fell 1.23 points to 192.68.

Milan: A general strike added to caution. The MIB index fell 5 points, 0.64 per cent, to 778.

Zurich: The Swiss Market Index rose 12 points to 1,893.5.

Johannesburg: The all-share index ended 21 points down at 3,002. The gold index bounced off a seven-year 797 low to close 11 points off at 806.

Hong Kong: The Hang Seng index rose 30.53 to 5,756.10.

Paris: The CAC-40 index gained 30.04 points to 1,685.09.

Sydney: The All Ordinaries index fell 6.1 points to 1,456.9.

Tokyo: Renewed speculation of a cut in interest rates helped push the Nikkei 225 index up 188.66 points to 17,490.67.

London: Report, page 25.

Start your day with The Independent, sign up for daily news emails
ebookA unique anthology of reporting and analysis of a crucial period of history
peopleMathematician John Nash inspired the film Beautiful Mind
Richard Blair is concerned the trenches are falling into disrepair
newsGeorge Orwell's son wants to save war site that inspired book
Life and Style
Audrey Hepburn with Hubert De Givenchy, whose well-cut black tuxedo is a 'timeless look'
fashionIt may be a paradox, but the industry loves it
Arts and Entertainment
The pair in their heyday in 1967
Life and Style
fashionFrom bathing dresses in the twenties to modern bikinis
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Guru Careers: Software Developer / C# Developer

£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...

Neil Pavier: Management Accountant

£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...

Sheridan Maine: Commercial Accountant

£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...

Laura Norton: Project Accountant

£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine