|Bid||13.26 x 0|
|Ask||13.30 x 0|
|Day's range||13.05 - 13.56|
|52-week range||10.91 - 15.29|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
China's Huawei has been excluded from a Czech tender to build a tax portal after the country's cyber watchdog warned of possible security threats posed by the telecoms supplier, documents showed on Wednesday. Huawei faces international scrutiny over its ties with the Chinese government and allegations that Beijing could use Huawei's technology for spying, which the company denies. The U.S. Justice Department has also charged Huawei with conspiring to violate U.S. sanctions on Iran and with stealing robotic technology from T-Mobile US Inc.
A leading MP is calling for answers over the sale of Johnston Press (LSE: JPR.L - news) after it went through a pre-pack administration that looks set to tip responsibility for its pensions into a lifeboat scheme. Frank Field, chair of the Work and Pensions select committee, has written to The Pensions Regulator (TPR) to ask about its involvement in discussions with the company behind 200 newspapers including The Scotsman, the i, and the Yorkshire Post. Mr Field said it was "difficult to understand" how the new owners were able to acquire the business without taking responsibility for pension schemes.
The new owner of newspaper publisher Johnston Press (LSE: JPR.L - news) says it is business as usual for its 200 titles, including the i and The Scotsman, despite union concerns over jobs and pensions. JPIMedia - a consortium of Johnston Press creditors - took over late on Saturday (Shenzhen: 002291.SZ - news) in a so-called pre-pack administration. Johnston Press had thrown in the towel just hours earlier after admitting defeat in its efforts to refinance £220m of debt due to be repaid in June next year.
Financially struggling British newspaper group Johnston Press (LSE: JPR.L - news) , publisher of The Scotsman and The Yorkshire Post, has been bought by its bondholders after filing for bankruptcy protection. "The transaction provides the group with a substantially de-levered balance sheet, new capital and a strong platform for its staff, operations and publications," JPIMedia, a company formed by the bondholders, said on Saturday (Shenzhen: 002291.SZ - news) . Johnston Press, which also publishes the "i" national newspaper, said in July it was exploring debt restructuring, before putting itself up for sale last month and then announcing on Friday that it would be bought by some its creditors.
Britain's Johnston Press (LSE: JPR.L - news) , publisher of The Scotsman, The Yorkshire Post and "I" newspapers, said on Friday it would file for administration, a form of creditor protection, and then be sold to its bondholders, allowing it to continue to trade. Last month Johnston Press put itself up for sale after it reviewed its finiancial situation, which included a large debt repayment due next year. It said administration and subsequent sale to a group of companies controlled by the holders of the bonds was the best remaining option.
Britain's pensions lifeboat is fighting to receive a bigger payout from a restructuring of the engineering arm of Monarch, the airline which collapsed into bankruptcy last year. Sky News has learnt that the Pension Protection Fund (PPF (Shenzhen: 300258.SZ - news) ) plans to vote in support of a company voluntary arrangement (CVA) proposal at a meeting of Monarch Aircraft Enginering's (MAEL) creditors on Friday, subject to the amendment of a proposed dividend. The PPF, which is owed £7.5m by MAEL, accounting for roughly 7% of the vote, is understood to be pushing for a dividend of 4.3p in the pound, equating to a payout of just over £100,000.
LONDON, Oct (Shenzhen: 000069.SZ - news) 8 (Reuters) - Legal & General said on Monday it had agreed a deal to insure 2.4 billion pounds ($3.14 billion) in pension risk with the Nortel Networks UK Pension Plan, adding its deal pipeline was at a record high. The deal with Nortel allows the scheme to exit the Pension Protection Fund, Britain's pension scheme 'lifeboat', where the scheme languished after Nortel went into administration in 2009.
The engineering arm of Monarch Airlines is this week scrambling to put together a financial restructuring deal amid the threat of a possible winding-up petition from the taxman. Sky News has learnt that Her Majesty's Revenue & Customs (HMRC) has drawn up plans to take action against Monarch Aircraft Engineering (MAEL) over an unpaid tax bill, the size of which was unclear on Thursday evening. The move raises questions over the future of a business which employs more than 800 people and provides critical services to Britain's aviation sector, working with airlines including Cathay Pacific, easyJet, Norwegian, Virgin Atlantic and Wizz.
Administrators to Toys R Us UK and a pack of American hedge funds could be heading for a £35m legal tussle which will dictate the amount of money recovered by the pensions lifeboat. Sky News has learnt that Moorfields, which has been sifting through the wreckage of the UK's biggest toy retailer since it collapsed in February , has instructed lawyers to assess the validity of a $50m charge held by the hedge funds over the British chain. The funds, which ten months ago included big industry names such as SilverPoint Capital and BlueMountain Capital Management, are part of a group of secured creditors known as the TAJ Noteholders which provided a $375m loan to Toys R Us's US parent company after it filed for Chapter 11 bankruptcy protection in September last year.
Sports Direct, the British sportswear retailer controlled by tycoon Mike Ashley, has snapped up House of Fraser from the department store group's administrators for 90 million pounds ($115 million). Billionaire Ashley, who also owns English Premier League soccer club Newcastle United, said on Friday his ambition was to transform House of Fraser "into the Harrods of the High Street" - a reference to the Qatari-owned luxury department store in London that was once owned by House of Fraser.
Mothercare (Other OTC: MHCRF - news) will on Thursday take the extraordinary step of rehiring the chief executive it sacked last month as it unveils a rescue plan involving the closure of 50 high street shops. Sky News has learnt that the struggling retailer will announce alongside its full-year results that Mark Newton-Jones is to rejoin it just 36 days after his unexpected exit. Mr Newton-Jones was ousted in early April by chairman Alan Parker, who has himself since left the business.
Britain's pensions lifeboat has drafted in advisers to prepare for a rescue financial restructuring at Mothercare (Other OTC: MHCRF - news) that is certain to spark further high street job losses. Sky News has learnt that the Pension Protection Fund (PPF (Shenzhen: 300258.SZ - news) ) is taking advice from PricewaterhouseCoopers (PwC) ahead of a crucial week for the struggling retailer. The appointment is significant because the PPF will have the largest vote on a Company Voluntary Arrangement (CVA) which is expected to be unveiled next week alongside Mothercare's full-year financial results.