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No bail granted to US woman accused of insider trading

first_img More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content Show Comments ▼ A FEDERAL magistrate refused to grant bail on Monday to a California woman charged with leaking inside information about technology companies.Prosecutors accuse Winifred Jiau of selling inside information about publicly traded companies, including computer chipmakers Marvell Technology Group and Nvidia to hedge funds, including the founder of a New York fund that prosecutors did not identify. Prosecutors allege Jiau sold information through an expert network firm, in exchange for more than $200,000 of payments funneled through that firm.Federal prosecutors are also involved in talks that could lead to a possible “disposition” of charges filed against a former executive with expert network firm Primary Global Research. No bail granted to US woman accused of insider trading whatsapp center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Monday 3 January 2011 11:10 pm Share whatsapplast_img read more

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Shareholders to decide fate of De La Rue

first_img Tags: NULL Shareholders to decide fate of De La Rue by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp whatsappcenter_img Tuesday 4 January 2011 8:05 pm Show Comments ▼ KCS-content Oberthur’s overtures to De La Rue’s shareholders have just begunTHE fate of British money-printer De La Rue lies in its shareholders’ hands this week, as Oberthur Technologies tries to sell them on its takeover bid of 905p, worth £895m in total.Oberthur, which is being advised by Lazard & Co and HSBC, upped the stakes yesterday by claiming that De La Rue has lost its biggest client, without which some analysts have said it would be worth only 620p per share.Shareholders will have to decide whether to hold out for more when they could take a safe bet at £9.Oberthur has tried to boost its appeal further by promising not to take jobs abroad if it gets control of the UK firm, which prints sterling banknotes for the Bank of England.In its statement yesterday, it said: “Oberthur intends to maintain the production of all sterling banknotes in the UK.” However, the company would not make a commitment on the production of passports. Unite the union said in December that it was opposed to the French takeover. De La Rue’s biggest shareholders include Capital World Investors, which owns 15 per cent, Prudential, which has 12 per cent, and Capital Research and Management, which owns nine per cent of its stock. The company is advised by JP Morgan Cazenove and Rothschild. last_img read more

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CITY FEAST FOR TROOPS AT SQUARE MILE SALUTE

first_img Show Comments ▼ CITY A.M. is proud to announce its backing for a City-wide initiative to support a trio of veterans’ charities this week.The campaign, which will raise money for Help for Heroes, the Royal British Legion and ABF THe Soldiers’ Charity, will culminate in a spectacular five-course banquet in Guildhall on 10 February, with 12 world-class chefs cooking up the food.The good news is that there are still a few tables available for a cool £3,500, with GFT already among the firms spending to support the troops. The bad news is that you will have to maintain a heroic appetite to fully appreciate the culinary delights on offer. The chefs include Michel Roux, the Queen’s chef Mark Flanagan, Martyn Nail of Claridge’s and John Williams of the Ritz.They will all be involved in a feast of immense proportions presided over by the Academy of Culinary Arts, from the caviar available during the initial reception to petit fours cooked by a master chocolatier.London mayor Boris Johnson will be doing the rounds during drinks. He told The Capitalist: “I call on bosses and workers across the City to chivvy up your colleagues, friends and family to book those tables and dig deep into your pockets” to support the troops.And it’s not just during table purchases that attendees will have a chance to donate. The feast will be followed by a charity auction, assisted by Top Gear’s Jeremy Clarkson, to feature prizes ranging from a three-night stay at the Fairmont Monte Carlo during the Grand Prix, with a special viewing area on the famous Fairmont Hairpin, to a week on Necker Island, Richard Branson’s paradise get-away.Lawson Muncaster, managing director of City A.M., will be speaking at The Automobile Club this week about supporting the troops through the event. He said: “We’re delighted to be part of an event that brings the Square Mile’s luminaries together for a great cause.”HAPPINESS BUBBLEWith today named by psychologists as “Blue Monday” – the most miserable day of the year – City workers might feel in need of a little boost as they traipse around the streets on their lunch break.Luckily, the charity ActionAid has stepped up to provide a “happiness bubble” in Finsbury Circus all day today, a heated structure containing a plethora of free food, music, massages and general cheer.The idea stems from a survey of 1,000 people asking them what makes them happy. It turns out “helping someone who needs you” comes top, with “winning money” coming in at eight. So much for the thrills of bonus season. Share CITY FEAST FOR TROOPS AT SQUARE MILE SALUTE whatsapp KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Sunday 16 January 2011 9:50 pm Tags: NULLlast_img read more

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The ex-butcher who knows how to cut it fine

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads whatsapp KCS-content whatsapp The ex-butcher who knows how to cut it fine Monday 24 January 2011 7:40 pmcenter_img Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com HAVING started his career in a butcher’s shop in Wolverhampton, Ranjit Singh Boparan has a lifetime of experience in food firms – and knows how to cut things fine. Boparan’s £342m bid for Northern came two hours after the Takeover Panel’s original deadline of 5pm on Friday, after he negotiated a last-minute extension with the watchdog. His advisers, Rothschild and Goldman Sachs, had worked into the night for the week leading up to the deadline in order to table a suitable offer for Northern Foods’ board. Boparan has built his food empire through acquisitions in recent years, and now turns over in excess of £1bn a year. While his main business lies in supplying poultry products to supermarkets including Tesco, Saisnbury and Marks & Spencer under the name 2 Sisters Limited, he has also found success from bolting on other food firms. He snapped up the Harry Ramsden’s fish restaurant chain from caterer SSP in 2009, and also owns fish supplier Five Star after rescuing it from administration last March. According to Boparan Holdings’ latest papers filed with Companies House, the firm made £33.9m profit in the year to August 2009. A dividend of £12m was paid to the firm’s two directors – Boparan himself and his wife Baljinder. The couple have featured on the Sunday Times Rich List for several years, with their net worth most recently estimated at £180m. Share Tags: NULLlast_img read more

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Sterling jumps as Sentance sounds alarm over rates

first_img Share whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment Guru Wednesday 2 February 2011 7:00 am whatsapp Sterling rose to its highest in three months against the dollar today after comments by Bank of England’s Andrew Sentance in an interview with City A.M. warning of the consequences of failing to raise interest rates.The Bank’s policy making committee is moving toward his view with Martin Weale also coming out in favour of a rise, while Deputy Governor Charles Bean warning the central bank may be forced to hike if commodity prices rise further. Sentance told City A.M: “The longer we delay (monetary tightening) the more there is a risk that interest rate rises when they come will have to be larger, and then there will be a bigger risk of a shock to confidence.”He said if the inflation “genie” came out of the bottle the UK would face a “hard and painful” task to reassert price stability.Sterling rose 0.5 percent on the day to $1.6232, its strongest since 5 November, after the comments. Meanwhile new figures showing construction activity had bounced back in January also served to pile more pressure for rate rises. center_img Sterling jumps as Sentance sounds alarm over rates John Dunne Show Comments ▼ More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comlast_img read more

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Asset managers warn on EU rules

first_img LONDON’S asset management industry body said yesterday it was “not convinced” proposed new EU regulation of financial trading platforms would improve the markets.The Investment Management Association (IMA), whose members manage £3.37 trillion of assets, said plans to define venues as organised or multilateral trading facilities were too broad. In its submission to the EU Markets in Financial Instruments Directive (MiFID) consultation, IMA wholesale director Guy Sears said: “Rules for non-equity markets should be specific to each instrument and should not necessarily be modelled on equity markets.” Sears said he understood why the EU wanted a clear definition for “the waterfall of market service providers caught by MiFID”, but was “not convinced the new category of organised trading venue…will result in a better market structure”. “The OTF concept is too widely drawn, and the meaning of ‘organised’ unclear,” Sears said. Asset managers warn on EU rules whatsapp KCS-content whatsapp Monday 7 February 2011 9:05 pmcenter_img Tags: NULL Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeStyleVamp10+ Normal People Who Astonishingly Look Like CelebsStyleVampvirimi.com14 Efficient Arm Workouts To Build Might & Muscle – Virimivirimi.comBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadacutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comwomengetfreebies.comGet free samples sent to your home. 100% free. Sign up Nowwomengetfreebies.comAmoMediaRich Guy Mocks Disabled Waiter, Regrets It ImmediatelyAmoMediaBuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestination5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®Mold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search Ads Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Sharelast_img read more

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Liz Murdoch to join News Corp board after TV deal

first_imgMonday 21 February 2011 11:40 am whatsapp Liz Murdoch to join News Corp board after TV deal whatsapp Share Rupert Murdoch has paved the way for his daughter Elisabeth to join News Corp as a senior executive on Monday by buying her television production company Shine in a £415m deal.Liz Murdoch founded UK-based Shine, which makes shows such as Masterchef and Merlin, in 2001.Rupert Murdoch, whose News Corp owns broadcaster Fox and publishes newspapers including the Wall Street Journal and the UK’s News of the World, said he expected her to join the board of News Corp on completion of the deal.Liz Murdoch will report to Chase Carey, deputy chairman of News Corp, sidestepping her brother James, who is responsible for News Corp’s European and Asian assets, and is widely seen as heir apparent to his soon-to-be 80 year old father’s empire.Claire Enders of Enders Analysis said the move would increase competition in the succession race but it did not herald Murdoch senior stepping down.“The importance of putting his daughter on the board is that he obviously would like to have the option of one of his children taking over as chief executive, and they will no doubt perform a whole lot better breathing down each others’ necks,” she said. “But I don’t think that’s a precursor to him stepping down.”Rupert Murdoch has been involved in News Corp’s bid to take full control of BSkyB, a politically charged transaction against a backdrop of a phone-hacking scandal at his News of the World newspaper.News Corp and Shine signed a non-binding letter of intent and will now proceed with the regulatory filings required for the deal, they said in a joint statement.They will continue to negotiate the final terms of the deal, which is pending approval from both boards, the audit committee and the receipt of an independent fairness opinion.The companies did not provide an expected date for the deal to close. center_img Show Comments ▼ Tags: NULL alison.lock last_img read more

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CITY VIEWS: SHOULD STATE BENEFITS FOR THE ELDERLY BE RINGFENCED??

first_img CITY VIEWS: SHOULD STATE BENEFITS FOR THE ELDERLY BE RINGFENCED?? KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Show Comments ▼ Tags: NULL Sharecenter_img whatsapp PETER HESKETH | INSURANCE BROKER“I strongly believe pensioners who need benefits should get them. But there are those who just don’t need them and so in some cases they should be revised and means tested.”ALEX KENNEDY | INSURANCE BROKER“Top earners work for over 20 years and pay a considerable amount of tax- putting a lot of money into the system. So why shouldn’t they be entitled to benefits once they retire?”PAMIR DOTAN | LAB49 CONSULTING FIRM“The retirement benefits you are entitled to should relate to how much you earned throughout your working life and also relate to your personal finances.” whatsapp Tuesday 22 February 2011 7:59 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndolast_img read more

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Europe rushes to sell debt

first_imgTuesday 22 February 2011 8:09 pm Share whatsapp whatsapp KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Europe rushes to sell debt FEBRUARY has been the busiest month for European sovereign debt issuance since March 2010, according to data from Thomson Reuters.With only a few days in the year’s shortest month left to go, the data shows that sovereigns have been packing their debt sales into the first quarter, with $21.3bn (£13.1bn) issued so far and Germany planning a €7bn (£5.9bn) auction today. January also saw a rush of issuances, with sovereigns placing £20.3bn versus nothing in December 2010.Portugal was also due to hold an auction this week, but backed out after its last auction saw yields on five-year debt rise to a punitive 6.4 per cent – the highest since 1988 – and forced the European Central Bank to intervene to the tune of €711m.Spain has held the biggest sale so far in 2011, having sold €6bn of 10-year notes in January at a 5.5 per cent yield, but that is due to be eclipsed by Berlin’s auction today. Show Comments ▼ Tags: NULLlast_img read more

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AssetCo chief defeated as it raises £16m

first_img Share Tags: NULL whatsapp ASSETCO’s shareholders raised £16m in emergency funding yesterday after a court ruling forced its chief executive to comply with the plan.Shareholders were granted an injunction that required John Shannon, also AssetCo’s largest shareholder, to vote in favour of a plan to place 160m shares at 10p per share, two thirds of its closing share price on Monday.“The net proceeds will be used to address the company’s short term liquidity and funding issues, to assist in the restructuring of the group’s indebtedness and to provide working capital for the future development of the group,” it said in a statement.Its shares closed 8.45 per cent lower yesterday at 14.19p.AssetCo, which provides fire engines to the London Fire Brigade, said a range of shareholders took part in the placement. Investors North Atlantic Value, Gartmore and Utilico Investments, which held a combined 17.5 per cent of AssetCo before the placing, had said they were willing to provide £10m between them towards it if the company appointed a new executive chairman. The resolutions yesterday voted in Tudor Davies of touch sensor products maker Zytronic, to take that role.Sources close to the deal told City A.M. shareholders had grown “fed up” with dealing with Shannon, who led a management buyout of AssetCo in 2005. Shannon had promised to support investors but on Monday refused to vote for the plans, plunging the placement into doubt and causing AssetCo’s shares to be suspended from trading. Shannon had also supported AssetCo’s sale to Bahraini investment firm Arcapita, which shareholders rejected last week.TIME LINE | FIRE FIGHTING AT ASSETCO23 December 2010AssetCo sells three firms – Supply 999, Todd Research and AS Fire & Rescue Equipment – for £5.25m.27 January 2011Share price rises on rumours that it may be in sale talks with shareholder JO Hambro.31 January 2011Share price jumps 18.4 per cent after the board confirms it is in takeover talks with a company, but not J O Hambro. It appoints Evolution Securities to advise it. 8 February 2011AssetCo admits it is struggling to fund £4m of short term debt as its £50m long term debt facility was taking longer than expected to refinance.14 February 2011Its shares fall almost 25 per cent as it admits it had been forced to end talks with its potential buyer to concentrate on meeting its funding issues. 21 February 2011AssetCo’s nominated adviser Arden Partners proposes it raise £8m from shareholders as well as refinance existing debt facilities.23 February 2011AssetCo says it will obtain waivers from its banks and creditors on breaches of its debt facilities to allow the fundraising to go ahead. 3 March 2011It proposes a share placement of 160m shares of 10p each to institutional investors to be completed by 21 March.14 March 2011AssetCo’s board rejects an unnamed preliminary bid revealed to be from Bahraini private equity fund Arcapita. AssetCo describes the approach as “opportunistic” and says its principal banker RBS has loaned it £1.45m. 18 March 2011AssetCo’s creditors ask for early payment following the bid rejection. AssetCo says major shareholders agree to supply up to £10m if needed until the share placement is made.21 March 2011Three shareholders – North Atlantic, Gartmore and Utilico – agree to supply £3.33m each, on condition that Tudor Davies replaces Tim Wightman as chairman.AssetCo shares suspended after chief executive John Shannon says at a meeting he may not vote for the planned fundraising. AssetCo says the company may go into administration if the fundraising does not go ahead.22 March 2011Court grants shareholders an injunction specifying that Shannon must vote for the proposals. Meeting is reconvened, all resolutions are approved and £16m is raised. More From Our Partners Feds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com AssetCo chief defeated as it raises £16m center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle Show Comments ▼ whatsapp KCS-content Tuesday 22 March 2011 8:49 pmlast_img read more

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