Newspaper article The Evening Standard (London, England)

Shares Celebrate Macquarie Decision to Drop LSE Bid; IN BRIEF

Newspaper article The Evening Standard (London, England)

Shares Celebrate Macquarie Decision to Drop LSE Bid; IN BRIEF

Article excerpt

AUSTRALIAN investors have breathed a sigh of relief at Macquarie Bank's decision to drop its [pounds sterling]1.5 billion bid for the London Stock Exchange.

Shares in the investment bank, rose as much as 3.9% in Sydney today after yesterday's announcement. Macquarie Bank, known in Sydney as "the millionaire factory" for its Midas touch, has posted nine years of record earnings by building a business that bundles toll roads, radio stations and airports into funds for investors. The bank had planned to use the LSE as a "cornerstone investment", but investors feared the deal would incur too much debt for the bank.

RadioShack boss resigns over CV 'accuracy' doubts

THE embattled president and chief executive of US electronics retailer RadioShack, David Edmondson, has quit following questions about the accuracy of his CV. Leonard Roberts, RadioShack's chairman and Edmondson's predecessor as chief executive, said the move was needed to restore company credibility. …

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