Nils Pratley

Nils Pratley

Nils Pratley

 

UK govt bails out bank

Nils Pratley

You might have expected Northern Rock to sound apologetic as queues formed outside its branches and its website was overwhelmed. Here is a bank that lent aggressively and tried to grab a big share of the mortgage market. Now its business model has been exposed as fragile and its brand damaged, perhaps beyond repair.

FTSE hits landmark 6 000

Nils Pratley

The FTSE 100 (the Financial Times/London Stock Exchange list of the top 100 companies) spent much of last week above 6 000 points for the first time since March 8 2001, achieving the latest landmark in one of the most remarkable post-war stock market recoveries. It didn't quite last -- the closing level was 5 999,4.

Marriage for 'beauty not money'

Nils Pratley

SABMiller has won its fight to buy Bavaria, a Colombian-based brewer regarded as the last major prize in the global beer industry's pursuit of growth in South America. SAB's shares moved sharply higher as investors applauded an apparent bargain price of $7,8-billion, almost $1-billion below some market estimates of Bavaria's value.

Have the fans met their match?

Nils Pratley

His 60-year career has spanned fast food and nursing homes, and involved some bizarre court cases. He has generally adopted a "never explain" approach to the many controversies he has provoked during his climb to the top. Now Malcolm Glazer is determined to buy Manchester United soccer club — regardless of what the fans think.

Glazer woos Ferguson

Nils Pratley

Sir Alex Ferguson will be offered a beefed-up role at Old Trafford by Malcolm Glazer as part of the American tycoon's attempt to reverse fans' hostile reaction to his takeover plans. Glazer and his advisers are understood to have been shocked by the level of opposition from groups such as Shareholders United to their ambition to buy Manchester United.