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| Thursday, 16 November, 2000, 14:17 GMT How to spend �40m ![]() Pop superstar Sir Elton John once spent nearly �40m in 20 months. How can you get through that amount without blowing it all on flowers, wigs and jewellery? While giving evidence in a multi-million pound contract battle in the High Court, Sir Elton John revealed himself to be a veteran shopaholic. Between January 1996 and July 1997, the singer frittered away �290,000 on flowers alone. But what would �40m buy in the hands of another? On the rails
In the wake of the Hatfield crash, the company has set aside �100m for a re-railing programme - �40m would pay for about 100 miles of track repairs. But it would make less of a dent on the �150m earmarked for compensation to rail companies for track closures and delays caused by speed restrictions. Political purse This year's election has been the most expensive in American history, with campaign expenses up about 50% on the 1996 race. A mere �40m is peanuts in the race to claim the top job - the Republican contender, George W Bush, raised a record $100m (�70.2m) to fund his bid for the presidency. The battle between Hillary Rodham Clinton and Rick Lazio to win the New York senate seat alone cost $80m (�56m). Bargain basement
With bids typically running at around the �100m mark - well short of the nearly �1bn spent on the Greenwich attraction - he would no doubt welcome a pledge of �40m. Wheeling deals An e-commerce investor with �40m to spend could pick up a 26% stake in lastminute.com this week, with shares trading at about 80p.
In comparison, �40m would buy but a fraction of the low-cost airline Easyjet, which hopes to take off on the London Stock Exchange this week. With an initial share price of 310p, the UK-based company is valued at more than �770m. Going for a song
The online music service this week agreed to pay the record company $53.4m (�37.1m). MP3.com has now secured a licensing agreement which allows it to use songs owned by Universal - artists signed to the label include Sir Elton, Eminem and Jimi Hendrix. In return, the music giant has the right to buy a stake in the online company, whose website MyMp3.com allows computer users to listen to CDs over the internet. Petrol
Prices rose again this week amid worries over low oil stocks in the US, fears of a cold winter, and uncertainty over Iraqi exports. Crude oil is currently trading at more than $35 a barrel in Asia and New York, while in London the price topped $33 a barrel. Although protesters may salivate at the thought of �40m to pour into fuel tax concessions, in reality that sum would make little difference at the pumps. To cut petrol duty by 1p a litre would cost the Treasury around �500m - a sum even Sir Elton may well struggle to part with one go. |
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