UNITED KINGDOM

Tata Motors ahead in race to buy Ford's British brands

IBTimes Logo
Tata Motors, a group company of India's leading tea-to-truck business conglomerate is reportedly ahead in the race to acquire ailing U.S. automaker Ford Motor Co.'s British luxury car brands Land Rover and Jaguar which was put up for sale earlier this year.
IBTimes Logo

UK Government criticised for under selling Qinetiq

The British Government has come under yet more criticism today after the National Audit Office (NAO) said that it could have got the taxpayer “more money” from the partial sale of defence firm Qinetiq. Qinetiq was sold by the Ministry of Defence (MoD) to US based private equity group Carlyle in 2003 for £42 million.
More news
IBTimes Logo

N. Rock gets more approaches, but pitched low

Stricken British bank Northern Rock (NRK.L) has received more rescue proposals, but warned that one of them contemplated an offer well below Tuesday's closing price, sparking a new slide in its shares on Wednesday.
IBTimes Logo

T-Mobile says to sell iPhone without contract

Deutsche Telekom's T-Mobile will allow customers in Germany to buy Apple's iPhone without having to sign a T-Mobile contract after rival Vodafone obtained a court injunction against it.
IBTimes Logo

Dubai Ports IPO raises $5 billion

Dubai raised almost $5 billion selling a stake in port operator DP World in the Middle East's largest IPO, setting the scene for perhaps the biggest test for the emirate's two-year-old bourse where the shares will trade.
IBTimes Logo

Fed in focus as credit fears spread

World stocks rebounded on Tuesday and the dollar fell sharply, hitting new record lows against the euro and Swiss franc, as speculation swirled that the U.S. Federal Reserve would meet to cut interest rates.
IBTimes Logo

JC Flowers submits offer for N.Rock: source

U.S. buyout firm JC Flowers submitted an offer for Northern Rock, according to a person familiar with the situation, as shares in the stricken British bank tumbled on fears that any offers will be low. JC Flowers' proposal includes an offer to Northern Rock shareholders at a nominal value, the person told Reuters.
IBTimes Logo

China banks approach Singapore for StanChart Bank stake

Three major Chinese banks revealed have unofficially looked into acquiring a stake in UK-based Standard Chartered Bank, approaching Singapore's state investment agency for discussions about acquiring its 17 percent stake in the bank, according to a report.
IBTimes Logo

StanChart shares jump on China stake interest report

Temasek, the Singapore state investment agency, has rebuffed an approach from China's three leading banks for its 17 percent stake in UK-based Standard Chartered, a report said on Monday, sending shares in Standard Chartered more than 5 percent higher.
IBTimes Logo

UK says may offer help to Northern Rock bidders

Britain said it may offer financial help to potential rescuers of Northern Rock, even though this would need to be approved by the European Union, as it emerged proposals put forward so far were pitched low. Northern Rock shares tumbled over 20 percent to a new low on Monday after the bank said interest from potential suitors valued it at materially below Friday's share price.
IBTimes Logo

Saudi may order 24 Eurofighter jets

Saudi Arabia could order 24 Eurofighter Typhoon combat jets from BAE Systems for about 1.5 billion pounds ($3.06 billion), the Middle East Economic Digest (MEED) reported on Friday.
IBTimes Logo

BHP says direct Rio bid might be future option

Mining giant BHP Billiton, whose multi-million-dollar takeover plan has been rejected by Rio Tinto's management, may consider taking an offer directly to Rio's shareholders in the future, BHP's chief said on Saturday.
IBTimes Logo

N.Rock suitors mull options as deadline arrives

At least four bidders are set to submit plans for stricken bank Northern Rock on Friday but its future could remain uncertain for months as the British government gauges the political fallout of its options.
IBTimes Logo

Rio seen unlikely to counter bid for BHP

Rio Tinto is reportedly considering a counter-bid for BHP Billiton as a defense against a $140 billion takeover proposal from its bigger mining rival, but analysts said such a move was unlikely. Rio was considering a broad array of potential options to fight off BHP, including a so-called Pac-Man defense, selling assets and other moves that could raise shareholder value, according to reports
IBTimes Logo

Barclays $2.7 bln writedown less than feared

Barclays Plc, Britain's third-biggest bank, unveiled a 1.3 billion pound ($2.7 billion) writedown for losses on securities linked to the U.S. subprime housing crisis, less than was feared. In a surprise trading update on Thursday, the Barclays Capital investment bank unit said it would write down 500 million pounds for the July-September quarter and 800 million pounds for October.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.