CRH bonds to yield much higher rate
CRH's planned sale of €500m of bonds due in 2019 may be priced to yield 325 to 335 basis points more than the benchmark mid-swap rate, according to a banker involved in the transaction. The bond coupon will increase by 125bps if the company loses its investment-grade status, the banker said. (Bloomberg)
Havok wins award for its technology
IRISH technology company Havok, which provides interactive software solutions for the global games and entertainment industries, has won the award for Best Middleware in 'Game Developer' magazine's Front Line Awards for its Havok Physics technology. Now in their 14th year, the Front Line Awards honour the best tools in the game development industry.
Britain consults on new Thames airport
THE British government is to hold a formal consultation on UK aviation -- including controversial plans for a new airport in the Thames Estuary. The study, to begin in March, will look at options for "maintaining the UK's aviation hub status". Downing Street said no decisions had been made, but London Mayor Boris Johnson backs the Thames airport idea. David Cameron has ruled out expanding Heathrow, but his deputy Nick Clegg is said to be opposed to the estuary idea.
Seven charged over the 'Perfect Hedge'
SEVEN people were charged with a scheme to reap nearly $62m (€50m) in illegal profits on trades on Dell shares, the latest salvo in a sweeping probe of suspicious trading at hedge funds. The FBI in New York arrested four people on Wednesday and authorities announced previously secret charges against three others, making this case one the largest in the office's long-running probe of insider trading. Dubbed the 'Perfect Hedge', the probe has examined suspected sharing of confidential business information with hedge fund managers and analysts. Galleon Group hedge fund tycoon Raj Rajaratnam was arrested as part of the investigation and is now serving an 11-year prison term.