Claims Direct, the ambulance-chasing compensation company, yesterday urged shareholders to reject a ...
Claims Direct, the ambulance-chasing compensation company, yesterday urged shareholders to reject a £19.4m takeover offer from a buyout team led by founder Tony Sullman.
The company's independent directors David Hankinson and David Hickey advised investors to take no action regarding the 10p-a-share bid from former taxi driver Mr Sullman and Claims Direct's deputy chairman Colin Poole.
Mr Sullman and Mr Poole, who netted £50m when Claims Direct floated last July, own 42.8pc of the shares and are bidding £11.1m for the remainder.
The Daily Telegraph
The break-up of AT&T descended into chaos yesterday when the US telephone company confirmed that it had received a hostile $58 billion (£41 billion) bid for its cable TV arm and British Telecom threatened to veto the restructuring plan.
Michael Armstrong, AT&T's chairman and chief executive, is in the process of splitting the company into as many as five stand-alone parts. The jewel in the crown is likely to be AT&T Broadband, the cable television and high-speed Internet business that Mr Armstrong founded in the late 1990s.
Halifax is to lobby for laws that will make it illegal to take longer than five days to switch current accounts.
The former building society is calling for a Private Member's Bill on current accounts, after the publication yesterday of less stringent voluntary proposals by DeAnne Julius, a former member of the Monetary Policy Committee.
Ms Julius recommended a five-day target to move account details, but proposed five weeks for the transfer of standing orders and direct debits, where third parties such as BT and Centrica are involved. She also called for £50 fines to be levied against banks that failed to meet the target, and recommended that current account customers be sent annual statements giving details of charges and interest.
Hopes that the slowdown in the German economy could be coming to an end received a modest boost on Monday with the release of some unexpectedly strong economic data.
Industrial production in the euro-zone's biggest economy rose by a seasonally adjusted 0.9 per cent in May, compared with April's 1.4 per cent decline. Most analysts had expected no change in the month.
The increase was largely driven by a 5.6 per cent increase in output in the construction sector, with manufacturing rising by a more modest 0.4 per cent.
The Financial Times
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