Business and City in Brief
Wednesday 14 October 1992
bond threat A holder of a small number of Heron International's Swiss bonds has started legal action to get his money back. But Heron denied the move was a threat to talks on restructuring its pounds 1bn debt which, it said, were proceeding well.
Banking sources said detailed proposals on the restructuring were expected to be presented to the banks by Heron on Tuesday.
Networks inquiry
Oftel, the telecommnications watchdog, has announced an investigation into the Cellnet and Vodafone networks to give 'an independent measure of performance from the customer's point of view'. Results will be published quarterly.
Rail link backed
Bankers to Olympia & York's troubled Canary Wharf complex said they were open to all options on funding a planned Underground rail link to rescue the project.
Title exchange
Emap has been given the go- ahead to buy the Northampton Mercury Company from United Newspapers in an exchange of titles worth pounds 11.35m. United Newspapers will acquire Emap's South West Wales Newspapers business.
F&C shuffle
James Ogilvy has replaced Oliver Dawson as chairman of Hypo Foreign & Colonial Management (Holdings). Michael Hart takes over from Mr Dawson as chairman of F&C Management. Mr Dawson remains as the group's chief investment officer.
Happy taxpayers
A survey for Inland Revenue by Research International has shown that 65 per cent of taxpayers are satisfied, and 10 per cent dissatisfied, with the overall service.
CBI energy call
The Confederation of British Industry says a Brussels plan for an energy/carbon tax will delay action to curb global warming and has urged the Government to step up energy- saving.
Steel plea
European steel makers, hit by low demand and weak prices, have called for EC intervention to save 50,000 jobs. They want new limits on Eastern European imports and a Community plan to cut excess capacity.
Housing slows
New US housing completions fell 7.3 per cent in August to a seasonally adjusted annual rate of 1.132 million units.
Stop trucking
The European Community is to start legal action against Italy for giving preferential tax breaks to local trucking firms.
World Markets
New York: Although profit- taking trimmed the advance the Dow Jones Average was showing a 27.01 points gain to 3,201.42 by the close.
Brussels: The BEL 20 index was up 7.30 points at 1,099.84.
Frankfurt: The DAX index rose 32.96 to 1,465.50.
Madrid: The general index fell 1.23 points to 192.68.
Milan: A general strike added to caution. The MIB index fell 5 points, 0.64 per cent, to 778.
Zurich: The Swiss Market Index rose 12 points to 1,893.5.
Johannesburg: The all-share index ended 21 points down at 3,002. The gold index bounced off a seven-year 797 low to close 11 points off at 806.
Hong Kong: The Hang Seng index rose 30.53 to 5,756.10.
Paris: The CAC-40 index gained 30.04 points to 1,685.09.
Sydney: The All Ordinaries index fell 6.1 points to 1,456.9.
Tokyo: Renewed speculation of a cut in interest rates helped push the Nikkei 225 index up 188.66 points to 17,490.67.
London: Report, page 25.
- 1 Mhairi Black speech: SNP MP puts finger on problem with Labour Party
- 2 Autumn Veatch: Teenage girl survives plane crash and walks for days through wilderness to safety
- 3 Big Lebowski festival founder arrested on suspicion of smoking marijuana in bowling alley car-park
- 4 South Korean professor 'beat former student, forced him to drink human urine, and eat faeces' over two years, say local police
- 5 Snapchat streams Mecca live as thousands share incredible images of holiest city in Islam
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Mhairi Black speech: SNP MP puts finger on problem with Labour Party
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Autumn Veatch: Teenage girl survives plane crash and walks for days through wilderness to safety
-
Big Lebowski festival founder arrested on suspicion of smoking marijuana in bowling alley car-park
-
Snapchat streams Mecca live as thousands share incredible images of holiest city in Islam
-
Primark security guard 'physically removed' baby daughter from mother as she breastfed
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Forget French and Mandarin - Arabic is the language to learn
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Tube strike: The train driver's letter that may change your mind on this week's walkout
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'Mini ice age' coming in next fifteen years, new model of the sun's cycle shows
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Brianne Altice: Utah High School English teacher jailed after admitting sexually abusing three male teenage students
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Thank God George Osborne is finally making young people pay for the crash – they caused it after all
-
David Cameron drops plans to relax fox hunting ban after SNP vowed to inflict first government defeat
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