Fortis unveils €13.2bn rights issue to help fund ABN bid

Members of the Royal Bank of Scotland consortium yesterday took significant strides forward in the massive fundraising exercise required to finance their break-up bid for Amsterdam-based ABN Amro.

	Headhunting high-flyers
	Saturday Interview: Susan Thompson is prepared to travel anywhere at any time to recruit top people for the airline industry, reports Ron Clark

Sterling interbank lending rates slip as credit turmoil eases

Sterling interbank lending rates eased significantly yesterday, raising hopes that there might be a way through the credit market turmoil without too much further damage.

Loonie calling the tune as dollar plunges

Investors yesterday continued to dump the dollar, pushing the euro to a record high and placing the Canadian dollar, popularly known as the loonie, at a higher value than the US dollar for the first time in 31 years.

Don’t tell Black Cats boss Merv has switched

Business Diary: One Robert Page of Luton wrote to the Financial Times this week with a query about Newcastle United’s shirt sponsor. “How long before ‘Northern Rock’ is changed to ‘Bank of England’?” he asked.

Union attacks Standard Life over Resolution bid threat

Unite, the trade union seeking statutory recognition from Standard Life, yesterday attacked the life and pensions giant over its threat to gatecrash the £8bn merger of Resolution and Friends Provident.

Airbus warns strong euro could mean extra cost cuts

Airbus warned yesterday that the euro’s march higher could force the company to seek an extra 1bn euro (£698m) in cost cuts or savings.

Bernard Brogan earnings top £2m

Bernard Brogan, the Motherwell-based fuel distributor, has enjoyed another surge in pre-tax profits – topping the £2m mark for the first time and capping more than a dozen years of impressive growth.

Sovereign to review performance of Diamant Drilling

Sovereign Oilfield Group is to undertake a strategic review of one of its drilling subsidiaries that is perfoming below the firm’s expectations.

	King defends actions before Treasury Select Committee
	Bank of England Governor Mervyn King yesterday defended his handling of the credit market crisis which led to the run on Northern Rock.

Hunter’s d2 clothing chain posts trading loss

D2, the clothing chain owned by Sir Tom Hunter, has posted the first trading loss in its eight-year history. The entrepreneur remains upbeat about its future prospects, however, following a management restructuring.

Currie attracts external investment

New York-based investment firm Crestview Partners and investment vehicles associated with Lord Jacob Rothschild have been invited to buy in to the Edinburgh-based investment house as junior partners.

ABN chief softens stance towards Royal

ABN Amro chief executive Rijkman Groenink, who was a surprisingly outspoken critic of Royal Bank of Scotland's consortium break-up bid for his charge, demonstrated money talks by taking a much more neutral stance at a shareholder meeting yesterday.

Strong economic growth reduces chance of rate cut

The chance that the Bank of England would cut interest rates to help prevent turbulence in credit markets causing economic slowdown receded after a slew of data suggested consumers and manufacturers alike were in good heart.

Scot Trout poised to net ‘very healthy’ profits

Fish processor Scot Trout dipped heavily into the red last year after losing a contract with Sainsbury and suffering the impact of price rises and disrupted supplies.

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