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Business News

Britain and France want bank tax to fund climate change plan

Double trouble for banks as both EU and FSA call for new levies and rules

Inside Business News

Citigroup sued by Terra Firma over EMI deal  new

Saturday, 12 December 2009

British private equity firm Terra Firma accused Citigroup Inc of fraud and sued the bank for billions in damages in connection with Terra Firma's purchase of music business EMI Group in 2007, court documents filed yesterday in New York showed.

Moody's lifts UK's credit rating gloom – for now

Saturday, 12 December 2009

Britain's credit rating is secure for now but could be cut if the Government fails to show it can rebuild the public finances by 2013, Moody's said yesterday, in the first public statement from a major credit rating agency since Wednesday's pre-Budget report.

Gartmore price cut by a third as appetite for flotations recedes

Saturday, 12 December 2009

Gartmore has been forced to slash its flotation price by a third after the crisis in Dubai hit investor confidence and threatened to derail its flotation on the London Stock Exchange next week.

National Savings pulls bond deals after unprecedented demand

Saturday, 12 December 2009

National Savings & Investments, the Government-backed savings bank, has taken two of its most attractive products off the market several weeks early after unprecedented demand.

HMV cuts losses as rivals fall victim to slump

Saturday, 12 December 2009

HMV Group expects its Waterstone's book chain to get a late pre-Christmas shopping boost following the collapse of Borders UK, as the failed bookseller's closing-down sale comes to an end. But the owner of the HMV entertainment retailer will get a much bigger uplift next year if the Borders chain of 45 stores, with annual sales of more than £200m, disappears as expected.

Stan Chart adds heavy hitting non-execs

Saturday, 12 December 2009

Standard Chartered, the emerging markets bank, yesterday unveiled a boardroom shake-up designed to ensure it comes in line with the Walker review on banking governance.

Apple hits back in Nokia patent war

Saturday, 12 December 2009

The bitter row between Nokia and Apple escalated yesterday when Apple responded to a lawsuit alleging it had infringed on the Finnish handset giant’s patents with a countersuit.

Whitbread poised to buy Coffeeheaven

Saturday, 12 December 2009

Whitbread, the owner of Costa Coffee, has confirmed it is in talks to acquire Coffeeheaven International for £32m as it aims to expand its existing presence in Central and Eastern Europe.

Ukraine seeks urgent $2bn loan from IMF

Saturday, 12 December 2009

Ukraine has asked the International Monetary Fund for an emergency loan of $2bn (£1.2bn).

Business Diary: 12/12/2009

Saturday, 12 December 2009

Stand up if you've got good ideasStaff at Metro, the Associated Newspapers freesheet, have apparently received an odd email from John Leitch, one of their directors. He wants them to know that the height of their boardroom table has been raised so that meetings can henceforth be held with participants standing up. Makes people more productive, apparently.

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