The Guardian:
• American billionaire now owns 28.9% stake in Gunners• Kroenke yet to reveal intentions over club's ownershipStan Kroenke has purchased another 10 shares in Arsenal's parent holding company, at a cost of some £85,000, to edge closer towards the takeover threshold. The Denver-based sports magnate now controls a stake of som (Read More)
The Guardian:
• Critics argue bank profits show lack of competition• State-backed Lloyds cash call will pay City £300m Lord Myners, the City minister, has warned of growing discontent among shareholders and company directors over the high level of fees investment banks charge for their services.He said if things did not improve, the gove (Read More)
The Guardian:
The return of bank bonuses has angered bishops and spread to the venerable churches of the Square Mile itselfThe idea of high-octane, bonus-driven City bankers shooting the breeze about moral values has always been about as likely as turkeys sitting down for a wattle-wag about how much they are all looking forward to the fe (Read More)
The Guardian:
• HandMade Kids aims to tap into lucrative television and merchandise market • Intellectual property deal includes characters created by Sarah FergusonThe British film company HandMade is bringing a welcome windfall to the Duchess of York with a deal to turn her red-headed storybook characters into TV stars.The protagonists (Read More)
The Guardian:
City welcomes switch of focus to core mining activities as group aims for 25% cut in overheadsTarmac, a leading supplier of building materials, is up for sale again as part of a new shake-up at mining group Anglo American in the wake of last week's failed merger moves by rival Xstrata.The British aggregates specialist is to (Read More)
The Guardian:
Wall Street investment banker nicknamed 'Bid 'em up Bruce'The banker Bruce Wasserstein, who has died aged 61, cast a long shadow in the financial services industry. With his longtime friend and sometime business colleague Joseph Perella, he demonstrated that the most valuable assets of an investment bank are the people who (Read More)
The Guardian:
• Forcing landlords to buy beer from their owners is not anticompetitive, watchdog rules• Investigation was sparked by super-complaint by the Campaign for Real AleAn attempt to stop pub landlords being forced to buy beer from the companies which own their pubs has been rejected by the Office of Fair Trading.The OFT told the (Read More)
The Guardian:
Reinhard Mohn, who has died at the age of 88, turned a small-town German printer and publisher into one of the world's largest media conglomerates under his great-great-grandfather's name of Bertelsmann, while studiously preserving his own and his company's private status. There could have been no greater contrast than that (Read More)
The Guardian:
Move reignites speculation Qatari royal family could be planning a takeover bid for Sainsbury'sOne of Barclays's three major Middle Eastern investors is cutting its stake in the bank, a move that has reignited speculation of a takeover bid for J Sainsbury.Qatar Holdings announced it is exercising around 50% of the warrants (Read More)
The Guardian:
• Xstrata abandons proposal before Takeover Panel deadline• Anglo American biggest FTSE faller, dropping 3.7%Anglo American has declared the idea of a merger with Xstrata "dead and buried" after its rival decided not to launch a bid.Xstrata abandoned the proposal earlier today, five days before a put-up-or-shut-up deadline (Read More)
Wall Street Journal:
Xstrata said it has no intention to mount a takeover bid for fellow mining company Anglo American, which rebuffed its proposal for a merger to create a new mining giant in June. (Read More)
Wall Street Journal:
Xstrata said it has no intention to mount a takeover bid for fellow mining company Anglo American, which rebuffed its proposal for a merger to create a new mining giant in June. (Read More)
paidContent.org:
Wall Street investment banker Bruce Wasserstein died this afternoon, just days after being hospitalized for an irregular heartbeat. At the time of his death, Wasserstein, 61, was chairman and CEO of Lazard, as well as chairman of private equity firm Wasserstein & Co. While he may be better known for his role in some of the (Read More)
Wall Street Journal:
David Yermack, a finance professor at New York University’s business school, says doling out new stock options to target company CEOs in the midst of merger talks is like a “bribe” to get them to go along with the deal. But that may not be such a bad thing, he says.Yermack was reacting to this page one article in Monday’s W (Read More)
The Guardian:
Sale could raise the cash Xstrata needs to make firm offer for Anglo American by 20 October deadlineGlencore, the secretive Swiss-based commodity trader, is edging closer to a deal that could see it buy a Colombian coal mine from Xstrata for more than $2bn (£1.2bn), according to bankers in London.The prospect of a deal coul (Read More)