What the other papers say this morning - 20 September 2013


Buyout to keep Caesars afloat
The Las Vegas-based casino operator said this week it was seeking to raise almost $5bn in bonds and loans to refinance its commercial mortgage-backed securities and a chunk of junior debt. Apollo Global Management and TPG bought Caesars, at the time known as Harrah’s, in early 2008, paying $30bn – of which $25bn was debt.

Paulson warns of regulatory conflict Hank Paulson has warned that competing financial regulations could “devolve into financial protectionism”, serving narrow national interests of companies and regulators while hurting the public. The former US Treasury secretary said reforms put in place after the 2008 crisis could lead to “walling off markets, constricting cross-border access to capital and conflicting requirements for global firms” while supporting “regulators, exchange, clearing houses or national financial institutions”.

Billionaire gives £75m to scholarship
A Canadian billionaire has given £75m to ensure the future of the century-old Rhodes scholarship programme at Oxford university, which counts former US President Bill Clinton and six Commonwealth prime ministers among its most prominent alumni. The donor, John McCall MacBain, owns one of the world’s largest classified advertising empires.


Halliburton fined over Deepwater
Halliburton has been fined for destroying evidence connected to its role in the BP Deepwater Horizon disaster. The American company will pay $200,000 for destroying the results of a computer simulation of the cement seal that it provided to the British oil giant.

Camelot favourite to run Irish lottery
Camelot is being tipped as a frontrunner to take over the Irish National Lottery as it prepares to lodge its bid for a 20-year licence. The Times understands that the bid will be submitted by the noon deadline today by Ontario Teachers’ Pension Plan, Camelot’s Canadian owner.

The Daily Telegraph

Just 12 homes get Green Deal
The government’s flagship Green Deal scheme is making “painfully slow” progress, with just 12 homes installing energy saving measures since its launch in January. The figures also showed the number of homes assessed for energy-saving measures fell in August.

Germany industry in energy revolt
Germany’s top economic adviser has called for a radical rethink of the country’s energy policies, warning that the green dream is going badly wrong as costs spiral out of control. “We need a drastic policy shift,” said Christoph Schmidt, chair of Germany’s Council of Economic Experts.


Weinstein raising new credit facility
Independent film studio Weinstein is raising a credit facility of around $370m that will put it on stronger financial footing as it continues a three-year comeback from the brink of disaster. Expected to close within weeks, the arrangement would replace a pair of existing credit facilities.

New York Times restores dividend
New York Times will restore a dividend payment to company shareholders that was eliminated four years ago, putting to use cash raised through a string of recent divestitures. The Times board approved a payment of $0.04 per share.