What the other papers say this morning - 08 November 2013


Currencies probe shifts to the US
A global probe into alleged manipulation of the multibillion-dollar currencies market has widened its focus to include the US, with Barclays putting three New York-based traders on leave. They included foreign exchange spot traders Russell Katz and Jerry Urwin, two of these people said. Mr Katz and Mr Urwin, neither of whom has been formally accused of any wrongdoing, could not be reached for comment. Barclays declined to comment.

Fannie and Freddie payout of $185bn
Fannie Mae and Freddie Mac will have paid a total of $185.3bn in dividends to the US government by the end of this year, putting the mortgage finance groups on track to make payouts that will soon exceed the US government bailout they received. The figure includes $30.4bn in dividend payments Freddie announced with its third-quarter results on Thursday, with Fannie making a further $8.6bn payout to the government.

ArcelorMittal optimistic about 2014
ArcelorMittal said the bottom of the cycle was behind it, as improving economic conditions and fruitful restructuring plans helped the world’s largest steelmaker by sales report better than expected underlying profits in the third quarter. The steelmaker forecast that the US and Chinese markets would grow about 6-7 per cent in the second half of this year.


BT hopes to add Champions League
The latest salvo in the battle for sports rights is expected to come to a head today with the auction for the rights to show midweek Champions League games. The battle has pitched new entrant BT against BSkyB, the satellite broadcaster, as the fight for broadband customers that has lit up this season’s Premier League expands into continental Europe.

Vodafone hit for missed 3G target
Vodafone has been ordered to pick up the pace in 3G after it was named as the only operator to miss a key coverage target. Ofcom said 3G population coverage fell short of its target.

The Daily Telegraph

Disney profits shoot up 12 per cent
Profits at Disney in the past quarter hit $1.39bn, as company also announces release date for next Star Wars film. Walt Disney earnings rose 12pc in the company's fiscal fourth quarter as revenue from parks rose and its interactive division posted an operating profit on the surprising strength of its new video game Disney Infinity.

EE launches £8m data bundle
UK mobile operator EE has announced the world's first petabyte data bundle for businesses for around £8m. However, there is no official price range, as each firm will have a bespoke plan put together for them by EE.


Fairfax discloses BlackBerry investors
Fairfax Financial disclosed that its partners in a $1bn investment in struggling smartphone maker BlackBerry include a Qatar-based sovereign-wealth fund and several Canadian investment funds. The other debt purchasers include Ontario-based Canso Investment Counsel, which invested $300m, the most of the group.

IBM finance chief Loughridge to retire
IBM appointed insider Martin Schroeter to the chief financial officer role, succeeding Mark Loughridge, who will reach Big Blue's customary retirement age next month.