Business and City in Brief
Wednesday 14 October 1992
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.
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.
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.
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.
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.
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.
New US housing completions fell 7.3 per cent in August to a seasonally adjusted annual rate of 1.132 million units.
The European Community is to start legal action against Italy for giving preferential tax breaks to local trucking firms.
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.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
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