What the other papers say this morning - 18 October 2013
18 October 2013 2:26am
Tele2 sale lifts Russian hopes
VTB has sold 50 per cent of mobile operator Tele2 Russia to billionaire Yuri Kovalchuk and partners, paving the way for the creation of a much stronger fourth competitor in Russia’s mobile market. The deal comes six months after VTB, Russia’s second-largest bank, acquired the Russian arm of Sweden’s Tele 2 for $3.6bn and amid talk of a forthcoming merger between Tele2 Russia and Rostelecom, a state-owned rival.
Peabody defies fall in coal prices
Peabody Energy offset continued depressed coal prices with cost cuts that helped the largest US coal producer to generate better than expected quarterly earnings, sending the company’s shares higher. Coal producers have been among the mining companies most under pressure with demand weak and supply plentiful.
Ferrero shuns Nestle’s advances
Nestle has made several approaches to buy all or part of Italy’s Ferrero but has been rebuffed by the family-owned group, said three people with direct knowledge of the events. Switzerland’s Nestlé made the approaches to the maker of Nutella over the past two months, with the aim of expanding its confectionery business. “Nestle have tried, but Ferrero is like a fortress.
Madoff’s staff fooled by lies
Bernie Madoff’s employees were as much victims of his lies as the investors who lost nearly $20 billion in his Ponzi scheme, a federal court heard yesterday. Andrew James Frisch, the defence lawyer for Daniel Bonventre, one of five Madoff employees on trial this week, said that his client was fooled by Madoff’s “pathological lies”.
Financier backs robotic legs
Rex Bionics a New Zealand company that develops hi-tech robotic legs for paraplegic patients is joining the London stock market in a deal brokered by Jeremy Curnock Cook, a veteran City healthcare financier.
The Daily Telegraph
Bonmarche IPO shows turmoil easing
Fashion retailer Bonmarche is to float shares on the stock market in the latest sign that the turmoil on Britain's high streets is easing. Sun European Partners, the investment group that owns Bonmarche, is to sell at least 40 per cent of the shares in the company through a float that should value the company at up to £130m.
Vinyl sales reach a 12 year high
Sales of LPs have doubled to 550,000 this year and the format has become the favourite of nearly nine in 10 vinyl buyers, according to the record industry body BPI. The figure reflects year-on-year growth of more than 100 per cent.
THE WALL STREET JOURNAL
Hulu Names Mike Hopkins CEO
Video-streaming service Hulu on Thursday named Mike Hopkins as its new chief executive, effective immediately. Mr. Hopkins succeeds Andy Forssell, who was senior vice president of content and had served as acting CEO since March, when Jason Kilar stepped down.
US picks lawyer for security post
President Obama picked Jeh Johnson, an experienced Defense Department lawyer and administration loyalist, to succeed Janet Napolitano as Homeland Security chief. The nomination announcement was set for Friday.
In other news
Graduates should be awarded point scores alongside the existing degree grades, a new report has said, something [Read more]
Banks are finally starting to lend to Britain's small and medium sized businesses new data has shown, suggesting [Read more]
Just eight years ago, there was no iPhone, while a mere decade ago, half of all Britain's internet connections [Read more]
The nationwide rail strike, called off at the 11th hour last week, has been rescheduled for next week. [Read more]
Women's teams will feature on the forthcoming Fifa '16 video games - marking the first time women's football has [Read more]
Just a day after the Queen's Speech confirmed what we knew the Tories would have to do, a bill has dropped into [Read more]
Avago Technologies has sealed a $37bn acquisition of fellow semiconductor company Broadcom to create an industry [Read more]
Russian President Vladimir Putin has accused the United States of meddling in affairs beyond its jurisdiction [Read more]
The UK's GDP increased by 0.3 per cent in the first quarter of 2015, according to the latest figures from the [Read more]
Five people were arrested after the anti-austerity protest in Whitehall and Trafalgar Square turned voilent yesterday. [Read more]
Claire Perry has said “at times, the delays and disruption that are occurring are simply inexcusable.” [Read more]
Like electing a boss of Fifa whose surname isn’t Blatter or extracting an apology from Thomas Cook, reforming [Read more]
Britain's FinTech sector is a particularly bright spot in the UK’s recovering economy. Investment in London [Read more]
Currency volatility did Kingfisher no favours in the first quarter of 2015, but investors have not been put off. [Read more]
Power systems manufacturer Rolls-Royce has signed an €80m (£57m) contract with General Dynamics European Land [Read more]