http://www.execdigital.co.uk/ Business news for executives in the UK - Lead stories, case studies and interviews from global industries, including construction, manufacturing and energy. The U.S. Federal Reserve is brokering discussions between Wells Fargo & Co and Citigroup over which of the banks will buy Wachovia's assets, people familiar with the matter said on Sunday. http://www.execdigital.co.uk/Fed-said-brokering-deal-for-Wachovia_8066.aspx http://www.execdigital.co.uk/Fed-said-brokering-deal-for-Wachovia_8066.aspx Mon, 06 Oct 2008 14:22:06 GMT Exec Digital UK BNP Paribas agreed to scoop up assets in Belgium and Luxembourg of banking and insurance group Fortis for 14.5 billion euros (11.2 billion pounds) to become the euro zone's biggest deposit bank. http://www.execdigital.co.uk/BNP-Paribas-scoops-up-Fortis-assets-in-credit-crunch_8067.aspx http://www.execdigital.co.uk/BNP-Paribas-scoops-up-Fortis-assets-in-credit-crunch_8067.aspx Mon, 06 Oct 2008 14:22:06 GMT Exec Digital UK Low-cost airline easyJet followed arch-rival Ryanair by reporting a 20 percent rise in September passenger volumes, but shares fell across the sector amid growing concerns about the economy. http://www.execdigital.co.uk/EasyJet-traffic-up-but-global-jitters-hit-shares_8082.aspx http://www.execdigital.co.uk/EasyJet-traffic-up-but-global-jitters-hit-shares_8082.aspx Mon, 06 Oct 2008 14:22:05 GMT Exec Digital UK Eli Lilly and Co has agreed to acquire ImClone Systems Inc for $6.5 billion (3.7 billion pounds), potentially bringing to a close one of the most colourful corporate sagas in biotech history. http://www.execdigital.co.uk/Eli-Lilly-agrees-to-buy-ImClone-for-3-7-bln-pounds_8089.aspx http://www.execdigital.co.uk/Eli-Lilly-agrees-to-buy-ImClone-for-3-7-bln-pounds_8089.aspx Mon, 06 Oct 2008 14:22:05 GMT Exec Digital UK Coface, a credit insurer, confirmed on Monday it had withdrawn cover to suppliers of JJB Sports , dealing a fresh blow to the sporting goods retailer. http://www.execdigital.co.uk/Credit-insurer-withdraws-cover-to-JJB-suppliers_8088.aspx http://www.execdigital.co.uk/Credit-insurer-withdraws-cover-to-JJB-suppliers_8088.aspx Mon, 06 Oct 2008 14:22:04 GMT Exec Digital UK British Airways shareholders are likely to receive around 60 percent and Iberia investors 40 percent of a new airline when they merge, Iberia's biggest shareholder, Caja Madrid, said on Monday. http://www.execdigital.co.uk/Iberia-investor-says-BA-merger-swap-around-60-40_8087.aspx http://www.execdigital.co.uk/Iberia-investor-says-BA-merger-swap-around-60-40_8087.aspx Mon, 06 Oct 2008 14:22:03 GMT Exec Digital UK The government promised on Monday to protect ordinary savers in the face of global financial turmoil but shares in the country's banks fell sharply amid fears the government would seek partial ownership in return for support. http://www.execdigital.co.uk/Government-says-won-t-leave-ordinary-savers-unprotected_8073.aspx http://www.execdigital.co.uk/Government-says-won-t-leave-ordinary-savers-unprotected_8073.aspx Mon, 06 Oct 2008 14:22:02 GMT Exec Digital UK More European governments followed Germany's lead on Monday offering guarantees to savers in a frantic effort to calm fears among investors over the worst financial crisis in 80 years. http://www.execdigital.co.uk/Germany-s-Hypo-tests-European-bank-stability-vow_8056.aspx http://www.execdigital.co.uk/Germany-s-Hypo-tests-European-bank-stability-vow_8056.aspx Mon, 06 Oct 2008 14:22:02 GMT Exec Digital UK The FTSE tumbled 5.4 percent by midday on Monday, with banking and mining stocks hammered as officials across the globe scrambled to contain the fallout from the escalating crisis in financial markets. http://www.execdigital.co.uk/FTSE-slides-as-fear-mounts_8076.aspx http://www.execdigital.co.uk/FTSE-slides-as-fear-mounts_8076.aspx Mon, 06 Oct 2008 14:22:02 GMT Exec Digital UK The country's largest insurer Aviva will stay away from acquisitions this year as it waits for more visibility on financial markets, its chief executive said in a newspaper interview. http://www.execdigital.co.uk/Aviva-to-stay-away-from-acquisitions-in--08_8070.aspx http://www.execdigital.co.uk/Aviva-to-stay-away-from-acquisitions-in--08_8070.aspx Mon, 06 Oct 2008 13:39:04 GMT Exec Digital UK ImClone Systems has agreed to be acquired by Eli Lilly for about $6.1 billion (3.5 billion pounds) after rebuffing a sweetened takeover offer from Bristol-Myers Squibb , sources familiar with the situation said on Monday. http://www.execdigital.co.uk/ImClone-seen-set-to-be-acquired-by-Eli-Lilly_8069.aspx http://www.execdigital.co.uk/ImClone-seen-set-to-be-acquired-by-Eli-Lilly_8069.aspx Mon, 06 Oct 2008 13:07:03 GMT Exec Digital UK The government will not put pressure on the Bank of England to cut interest rates but is prepared to take big steps with economic policy to stem the credit crisis, Chancellor Alistair Darling said on Sunday. http://www.execdigital.co.uk/Government-won-t-tell-Bank-to-cut-rates_8068.aspx http://www.execdigital.co.uk/Government-won-t-tell-Bank-to-cut-rates_8068.aspx Mon, 06 Oct 2008 13:05:04 GMT Exec Digital UK German and French officials denied on Sunday that they were set to endorse a common fund to bail out European banks after Italian Prime Minister Silvio Berlusconi was quoted as saying all three nations would back it. http://www.execdigital.co.uk/Germany-and-France-deny-plans-for-European-bank-fund_8071.aspx http://www.execdigital.co.uk/Germany-and-France-deny-plans-for-European-bank-fund_8071.aspx Mon, 06 Oct 2008 09:54:32 GMT Exec Digital UK The FTSE 100 index is seen opening down as much as 4.4 percent on Monday, according to financial bookmakers, tracking a slide in Asian markets as the financial crisis intensified over the weekend. http://www.execdigital.co.uk/FTSE-seen-opening-down_8065.aspx http://www.execdigital.co.uk/FTSE-seen-opening-down_8065.aspx Mon, 06 Oct 2008 09:00:26 GMT Exec Digital UK J Sainsbury , the third-biggest supermarket group, is expected to report a 3 9 percent rise in second-quarter underlying sales on Wednesday, a pick up from the first quarter, but lagging rivals http://www.execdigital.co.uk/Sainsbury-sales-seen-picking-up_8064.aspx http://www.execdigital.co.uk/Sainsbury-sales-seen-picking-up_8064.aspx Mon, 06 Oct 2008 07:31:48 GMT Exec Digital UK UBS AG's chairman, Peter Kurer, will earn less than 10 million Swiss francs (5 million pounds) this year, he told Swiss newspaper Sonntag on Sunday. http://www.execdigital.co.uk/UBS-chairman-reported-to-earn-less-than-5-million-pounds_8063.aspx http://www.execdigital.co.uk/UBS-chairman-reported-to-earn-less-than-5-million-pounds_8063.aspx Mon, 06 Oct 2008 07:31:48 GMT Exec Digital UK The fate of German lender Hypo Real Estate hung on the outcome of a showdown on Sunday between Chancellor Angela Merkel's government and banks over who would foot the bill for a bailout. http://www.execdigital.co.uk/Germany-and-banks-duel-over-Hypo-Real-rescue_8062.aspx http://www.execdigital.co.uk/Germany-and-banks-duel-over-Hypo-Real-rescue_8062.aspx Mon, 06 Oct 2008 07:31:47 GMT Exec Digital UK Thieves have hijacked sensitive data on millions of Deutsche Telekom mobile phone customers, the German company has acknowledged in its second major security scandal this year. http://www.execdigital.co.uk/D-Telekom-seeks-stolen-data-on-17-mln-mobile-users_8060.aspx http://www.execdigital.co.uk/D-Telekom-seeks-stolen-data-on-17-mln-mobile-users_8060.aspx Mon, 06 Oct 2008 07:31:47 GMT Exec Digital UK European Union Competition Commissioner Neelie Kroes said on Sunday there was a discriminatory element to unlimited guarantees on bank deposits and that she expected Ireland to modify its guarantee plans. http://www.execdigital.co.uk/EU-finds-fault-with-blanket-deposit-guarantee_8059.aspx http://www.execdigital.co.uk/EU-finds-fault-with-blanket-deposit-guarantee_8059.aspx Mon, 06 Oct 2008 07:31:47 GMT Exec Digital UK Prime Minister Gordon Brown established a National Economic Council on Friday to coordinate economic policies across government and help people cope with the fallout from the financial crisis. http://www.execdigital.co.uk/Brown-creates-economic-council_8058.aspx http://www.execdigital.co.uk/Brown-creates-economic-council_8058.aspx Mon, 06 Oct 2008 07:31:47 GMT Exec Digital UK Belgium and Luxembourg were talking to several would-be buyers for troubled financial group Fortis and will send a strong signal before markets open on Monday, Belgian Prime Minister Yves Leterme said. http://www.execdigital.co.uk/Belgian-PM-talking-to-private-groups-on-Fortis_8057.aspx http://www.execdigital.co.uk/Belgian-PM-talking-to-private-groups-on-Fortis_8057.aspx Mon, 06 Oct 2008 07:31:47 GMT Exec Digital UK The government will not put pressure on the Bank of England to cut interest rates but is prepared to take big steps with economic policy to stem the credit crisis, Chancellor Alistair Darling said on Sunday http://www.execdigital.co.uk/Government-won-t-tell-Bank-to-cut-rates_8055.aspx http://www.execdigital.co.uk/Government-won-t-tell-Bank-to-cut-rates_8055.aspx Mon, 06 Oct 2008 07:31:46 GMT Exec Digital UK Network Rail’s Chairman, Sir Ian McAllister, is to step down following criticism of the state-backed company’s performance http://www.execdigital.co.uk/Network-Rail-shake-up-will-see-top-chiefs-leave_8038.aspx http://www.execdigital.co.uk/Network-Rail-shake-up-will-see-top-chiefs-leave_8038.aspx Fri, 03 Oct 2008 09:27:52 GMT Exec Digital UK There is renewed hope for global economy today, October 2, as the Senate passes US$700 billion bank bailout plan http://www.execdigital.co.uk/US-Senate-passes-bailout-plan_8014.aspx http://www.execdigital.co.uk/US-Senate-passes-bailout-plan_8014.aspx Thu, 02 Oct 2008 09:22:43 GMT Exec Digital UK Prices fell 1 7 per cent last month, the 11th in a row month, and are now 12 4 percent lower than a year ago http://www.execdigital.co.uk/House-prices-falling-at-record-pace--says-Nationwide_8013.aspx http://www.execdigital.co.uk/House-prices-falling-at-record-pace--says-Nationwide_8013.aspx Thu, 02 Oct 2008 09:19:27 GMT Exec Digital UK Xstrata has scrapped plans to bid for its rival Lonmin due to “unprecedented uncertainty” in financial market http://www.execdigital.co.uk/Xstrata-cancels-Lonmin-bid_7992.aspx http://www.execdigital.co.uk/Xstrata-cancels-Lonmin-bid_7992.aspx Wed, 01 Oct 2008 08:54:17 GMT Exec Digital UK The financial system is in utter chaos this morning, September 30, after the US Congress dramatically rejected a bailout plan designed to restore confidence to crippled banks http://www.execdigital.co.uk/Financial-system-in-chaos_7970.aspx http://www.execdigital.co.uk/Financial-system-in-chaos_7970.aspx Tue, 30 Sep 2008 09:21:03 GMT Exec Digital UK The Government officially nationalised the bulk of Bradford & Bingley this morning, September 29, seizing £50 billion of assets and taking measures to ensure depositors will not lose out http://www.execdigital.co.uk/B-B-finally-nationalised_7952.aspx http://www.execdigital.co.uk/B-B-finally-nationalised_7952.aspx Mon, 29 Sep 2008 09:37:18 GMT Exec Digital UK Speculation intensified today, September 27, that the buy-to-let mortgage provider Bradford & Bingley will have to be nationalised if no private buyer is found http://www.execdigital.co.uk/Government-planning-to-nationalise-B-B-_7946.aspx http://www.execdigital.co.uk/Government-planning-to-nationalise-B-B-_7946.aspx Sat, 27 Sep 2008 16:33:19 GMT Exec Digital UK Robert Dudley is today, September 26, expected to attend what could be his last board meeting as head of TNK-BP http://www.execdigital.co.uk/Hunt-for-new-TNK-BP-chief-heating-up_7927.aspx http://www.execdigital.co.uk/Hunt-for-new-TNK-BP-chief-heating-up_7927.aspx Fri, 26 Sep 2008 09:33:25 GMT Exec Digital UK Profits at the world's biggest insurance market, Lloyd's of London, have been hit by a softening in the market and the rising cost of claims http://www.execdigital.co.uk/Insurer-s-profits-hit-by-claims-costs_7909.aspx http://www.execdigital.co.uk/Insurer-s-profits-hit-by-claims-costs_7909.aspx Thu, 25 Sep 2008 10:05:57 GMT Exec Digital UK Bradford & Bingley shares take a battering as the bank is downgraded to BBB http://www.execdigital.co.uk/B-B-downgraded_7863.aspx http://www.execdigital.co.uk/B-B-downgraded_7863.aspx Wed, 24 Sep 2008 09:11:49 GMT Exec Digital UK Andy Hornby, the HBOS Chief Executive, has moved to reassure staff worried about job cuts in the wake of the rescue takeover by Lloyds TSB http://www.execdigital.co.uk/HBOS-CEO-moves-to-ease-redundancy-fears_7839.aspx http://www.execdigital.co.uk/HBOS-CEO-moves-to-ease-redundancy-fears_7839.aspx Tue, 23 Sep 2008 08:56:20 GMT Exec Digital UK Alistair Darling will today, September 22, tell the Labour Party Conference that Labour will take 'any steps' deal with the volatility in global markets http://www.execdigital.co.uk/Darling-pledges-to-stabilise-economy-_7811.aspx http://www.execdigital.co.uk/Darling-pledges-to-stabilise-economy-_7811.aspx Mon, 22 Sep 2008 09:53:11 GMT Exec Digital UK The consortium of Blackstone, Carlyle Group and Providence Equity has dropped its bid for the publishing and events group http://www.execdigital.co.uk/-1-9bn-leveraged-Informa-bid-is-dropped_7803.aspx http://www.execdigital.co.uk/-1-9bn-leveraged-Informa-bid-is-dropped_7803.aspx Sun, 21 Sep 2008 09:32:25 GMT Exec Digital UK A New York bankruptcy judge has approved the £700 million acquisition of US investment bank the Lehman Brothers http://www.execdigital.co.uk/Barclays-Lehman-deal-approved-by-Judge-_7802.aspx http://www.execdigital.co.uk/Barclays-Lehman-deal-approved-by-Judge-_7802.aspx Sat, 20 Sep 2008 13:04:55 GMT Exec Digital UK The City regulator, the FSA, has issued ban on speculators who could break the banks http://www.execdigital.co.uk/FSA-s-short-selling-ban_7781.aspx http://www.execdigital.co.uk/FSA-s-short-selling-ban_7781.aspx Fri, 19 Sep 2008 09:14:04 GMT Exec Digital UK Gordon Brown makes dramatic pledge following the rescue of Britain's biggest mortgage lender HBOS by Lloyds TSB http://www.execdigital.co.uk/PM-to--clean-up--financial-system_7772.aspx http://www.execdigital.co.uk/PM-to--clean-up--financial-system_7772.aspx Thu, 18 Sep 2008 14:41:54 GMT Exec Digital UK Lloyds TSB seals £12 2bn HBOS deal http://www.execdigital.co.uk/Britain-s-first-superbank_7756.aspx http://www.execdigital.co.uk/Britain-s-first-superbank_7756.aspx Thu, 18 Sep 2008 09:37:47 GMT Exec Digital UK Gatwick, the UK's second-largest airport, has been put up for sale by its owner BAA http://www.execdigital.co.uk/BAA-puts-Gatwick-Airport-put-up-for-sale_7739.aspx http://www.execdigital.co.uk/BAA-puts-Gatwick-Airport-put-up-for-sale_7739.aspx Wed, 17 Sep 2008 09:23:44 GMT Exec Digital UK Halifax Bank of Scotland (HBOS) looks to reassure investors over its funding, as shares slump for the second day in a row http://www.execdigital.co.uk/HBOS-shares-slump-for-second-day_7738.aspx http://www.execdigital.co.uk/HBOS-shares-slump-for-second-day_7738.aspx Wed, 17 Sep 2008 09:17:48 GMT Exec Digital UK Inflation in August has surged to the highest level since April 1992 http://www.execdigital.co.uk/Inflation-surges-to-4-7-percent_7722.aspx http://www.execdigital.co.uk/Inflation-surges-to-4-7-percent_7722.aspx Tue, 16 Sep 2008 10:41:08 GMT Exec Digital UK Global stock markets plunged after it emerged that Lehman Brothers had filed for bankruptcy following the breakdown of rescue talks http://www.execdigital.co.uk/Markets-dive-following-Lehman-bankruptcy_7696.aspx http://www.execdigital.co.uk/Markets-dive-following-Lehman-bankruptcy_7696.aspx Mon, 15 Sep 2008 10:56:07 GMT Exec Digital UK Business Secretary John Hutton has said there is no evidence the UK is in recession http://www.execdigital.co.uk/Hutton---No-evidence-for-recession-_7690.aspx http://www.execdigital.co.uk/Hutton---No-evidence-for-recession-_7690.aspx Sun, 14 Sep 2008 12:24:40 GMT Exec Digital UK Standed holidaymakers have a way home after the collapse of tour operator XL http://www.execdigital.co.uk/Britons-return-to-UK-following-XL-demise_7685.aspx http://www.execdigital.co.uk/Britons-return-to-UK-following-XL-demise_7685.aspx Sat, 13 Sep 2008 11:27:19 GMT Exec Digital UK Britain’s third biggest package tour operator, XL Leisure, has plunged into administration, grounding all of its flights and leaving some 85,000 passengers stranded overseas http://www.execdigital.co.uk/XL-collapse-causes-traveller-chaos_7668.aspx http://www.execdigital.co.uk/XL-collapse-causes-traveller-chaos_7668.aspx Fri, 12 Sep 2008 09:42:19 GMT Exec Digital UK A package of measures designed to help people struggling with rising gas and electricity bills are set to be unveiled http://www.execdigital.co.uk/PM-to-unveil-energy-measures_7645.aspx http://www.execdigital.co.uk/PM-to-unveil-energy-measures_7645.aspx Thu, 11 Sep 2008 09:17:38 GMT Exec Digital UK Manpower survey finds outlook for UK jobs market is weakest for almost a decade with employers “freezing” new recruitment http://www.execdigital.co.uk/Jobs-outlook-weakest-for-nine-years_7571.aspx http://www.execdigital.co.uk/Jobs-outlook-weakest-for-nine-years_7571.aspx Tue, 09 Sep 2008 09:40:25 GMT Exec Digital UK Credit crunch catches up with everyone but the top bosses http://www.execdigital.co.uk/CEO-pay-defies-crunch_7549.aspx http://www.execdigital.co.uk/CEO-pay-defies-crunch_7549.aspx Mon, 08 Sep 2008 09:39:11 GMT Exec Digital UK The Trades Union Congress have suggested that people earning more than £100,000 should pay higher tax rates http://www.execdigital.co.uk/Tax-should-be-higher-for-rich--says-TUC_7540.aspx http://www.execdigital.co.uk/Tax-should-be-higher-for-rich--says-TUC_7540.aspx Sun, 07 Sep 2008 10:48:22 GMT Exec Digital UK