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Friday newspaper round-up: Sun4u, Vedanta Resources, BP
Thu, 09 Feb, 2012
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Friday newspaper round-up: Sun4u, Vedanta Resources, BP
Fri, 13 Aug 2010, 05:39:00
Around 1,200 holidaymakers have been left stranded in Spain and elsewhere following the collapse of tour operator
Sun4u
. The Birmingham-based firm announced it had ceased trading on its website. It is understood that the firm was a victim of the ash cloud crisis earlier this year, says the Times.
Vedanta Resources
, the Indian mining company, is set to move into the oil business within the next few days if it can finalise a deal for a majority stake in Cairn India. The deal with Edinburgh-based Cairn Energy, which has a 62 per cent stake in the Indian subsidiary, could be announced as early as this morning, according to the Independent.
BP
has agreed to pay a record $50m (£32m) fine for failing to fix alleged safety problems at its Texas City refinery in the wake of an explosion in 2005 that killed 15 men, writes the Telegraph. Oleg Deripaska is urging City investors to back his war against a fellow Russian oligarch over the world's biggest nickel miner, saying that he could double its value if he won control. Mr Deripaska wants to put a new board, a new management team and a new legal structure in place at
Norilsk Nickel
and he has embarked on a series of international roadshows to drum up support, reports the Times.
General Motors
, whose bankruptcy in 2009 marked the nadir of a crisis in the US car industry, readied itself for a return to the stock market by declaring itself restored to financial health and installing a new chief executive to woo Wall Street, says the Independent.
Google
's android mobile phone operating system is set to pip
Research in Motion
to second place in the global market by the end of this year, more than 18 months earlier than expected, writes the Independent. More families will lose their homes, charities warn, as the Government prepares to reduce the amount of financial support it provides to borrowers by as much as £200 a month, reports the Telegraph.
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