| CATEGORY: PRESS ROUND-UP SHORT SECTOR: TRAVEL & LEISURE |
Thursday's newspaper round-up: Stagecoach, Arena Leisure, Tiscali |
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Thu 28 Sep 2006
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LONDON (SHARECAST) - Stagecoach has threatened to pull out of bus operations in major British cities if the Government proceeds with plans to give local authorities sweeping new powers over services, reports the Times.
Lord Hesketh, the former Conservative minister and racecourse owner, has called for a radical rethink of the planned sale of the Tote as the Government weighs up a £300m offer from a consortium led by Arena Leisure for the state-owned bookmaker, says the Independent.
The British arm of Tiscali, the troubled Italian broadband group, is preparing to cut hundreds of jobs, with up to 40 per cent of the workforce being chopped, says the Times.
GlaxoSmithKline won a partial victory on dual pricing yesterday from a European court following its attempt to stop Spanish wholesalers re-exporting the company's drugs at big profits, writes the Independent.
Russia’s dispute with Shell over the future of the Sakhalin-2 project took an ominous twist last night when President Putin demanded government action against companies that break licensing agreements, says the Times.
Sandy Crombie, the chief executive of Standard Life, has signalled that he could stay on beyond his retirement age, reports the Telegraph.
Wolverhampton & Dudley Breweries, an underbidder in the £100 million auction of 98 Mitchells & Butlers pubs, said that it continued to “look very hard” at every acquisition opportunity, reports the Times.
Entrepreneur Sir Philip Green has considered – but rejected for the moment – a sale of pension assets and liabilities to an insurance-like vehicle that would take the risk off the balance sheet of his company, the Arcadia retail group, reports the FT.
Lord Hesketh, the former Conservative minister and racecourse owner, has called for a radical rethink of the planned sale of the Tote as the Government weighs up a £300m offer from a consortium led by Arena Leisure for the state-owned bookmaker, says the Independent.
The private equity house 3i has backed a €100m (£67m) buy-out of a private Spanish company whose equipment reduces the need for traditional scaffolding, says the Telegraph.
The fugitive former chief executive of Comverse Technology Kobi Alexander has been captured in Africa, where he is being held pending extradition to the United States, according to the Times.
Accenture, the second biggest supplier to the National Health Service’s information technology programme, is expected to walk away from contracts with the service worth more than £2bn, writes the FT.
Arcelor Mittal, the world’s biggest steel company, trumpeted the strength of the newly merged business yesterday by proposing a guaranteed minimum dividend that will mean that the Mittal family collects a $780 million (£413 million) payout next year, writes the Times.
Negotiations aimed at forming an alliance between General Motors, Renault and Nissan will continue into next month despite speculation that the talks were on the edge of collapse, reports the Telegraph.
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