Article Abstract:
Eurotunnel has carried out financial restructuring of 4.7 billion pounds sterling of the company's debt which totals 9.1 billion pounds sterling debt. This should avoid the need for a second restructuring but shareholders are unlikely to receive a dividend over the short term. The company's bank creditors will acquire a 45.5% stake in Eurotunnel, swapping debt for equity. Other financial instruments are being used to reduce the pressure of debt such as debt exchanged for loan notes.
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Article Abstract:
Investment scams may involve asking for an advance payment for goods and services that do not exist. Aliases can be created and bank accounts set up, and banks themselves can be set up with nominee directors. Keeping a distance from victims is one way to avoid detection. Victims may not complain due to embarrassment. One victim can be defrauded of a large amount of money rather than several victoms defrauded of small amounts. Intermediaries can be used to contact victims.
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Article Abstract:
RTZ will merge with CRA to form a company with sales of 5.7 billion pounds sterling. The new company will have a 76.5% stake held by RTZ. A merger is seen as nore tax efficient than a takeover and is likely to have a better impact on the morale of CRA employees, according to Bob Wilson, chief executive of RTZ. The merger should lessen the volatility of RTZ's earnings since the commodity mix will be changed. There should also be savings from a combined exploration budget.
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