What the other papers say this morning - 29 November 2013
29 November 2013 1:30am
Apollo in Aviva’s UK property deal
Apollo Global Management is closing in on the purchase of a £400m block of distressed UK property holdings put up for sale by Aviva, the FTSE 100 insurer, said people familiar with the matter. The private equity house has emerged as the preferred bidder for the assets. The sale is the latest sign that investor demand for high-yielding assets is helping banks and insurance companies unwind previous real estate losses.
Davey warns Scots of threat to bills
Scottish consumers face the risk of higher energy bills if they vote for independence in next year’s referendum because of having to shoulder a higher proportion of the UK’s renewable energy subsidies, Ed Davey has warned. The Liberal Democrat UK energy secretary told MPs yesterday that an independent Scotland might be forced to take on a higher proportion of green levies, which would drive up bills for those north of the border.
Britain soft on rights to woo China
Britain has been accused of softening its stance on human rights in China to attract foreign investment, despite doubts over the credibility of some of the groups who have offered to fund big projects. As David Cameron prepares for a visit to Beijing, a Financial Times investigation has raised questions about a project with Chinese backing in northwest England.
Ofgem boss refuses poisoned chalice
It emerged last night that Andrew Wright, who has been interim chief executive of Ofgem for the past five months, will not become its full-time head. The decision comes days after yet another going-over for Ofgem in front of the Commons Energy Select Committee.
Macallan to make £100m investment
Growing demand from Dallas to Dubai for a dram of the 190-year-old malt has prompted Edrington, the Scottish spirits group, to draw up plans to invest £100m developing a new distillery and visitor centre at The Macallan’s Speyside estate.
The Daily Telegraph
Npower confirms 1,460 job cuts
Energy giant RWE npower has confirmed it is to cut 1,460 jobs – 13 per cent of its UK workforce – as part of a major restructuring that will see back office operations outsourced to India. A further 540 Npower staff will be transferred to work for outsourcing company Capita, in a move npower claimed would improve customer service.
Argentina vows to jail oil explorers
Argentina has threatened 15-year jail terms and fines of more than $1.5bn for Falklands oil explorers, in the latest escalation of rhetoric over the disputed islands.
THE WALL STREET JOURNAL
H&M suspends use of Angora wool
Sweden’s Hennes & Mauritz temporarily halted production of items containing Angora wool, following the lead of other Scandinavian retailers banning the material after viewing footage of harvesting practices distributed by animal-rights activists.
Petrobras weighs ending fuel subsidy
Brazil’s state-run oil company Petroleo Brasileiro is expected to decide today whether to end an unofficial fuel subsidy that has cost it billions of dollars in lost revenue and raised questions about its ability to complete its huge investment plan.
In other news
The Bank of England is carrying out a confidential investigation into what would happen if the UK left the European [Read more]
This year's Eurovision Song Contest will feature an addition to the normal line up – for the first time ever, [Read more]
Tonight is the 60th Eurovision Song Contest, and once again we're in for an evening of cheesy music and crazy [Read more]
The Eurovision Song Contest is getting more and more expensive, despite Europe's decline into austerity. [Read more]
There were delays of up to 30 minutes to trains in and out of Kings Cross Station, after the station was re-opened [Read more]
When a 20-year-old footballer publicly declares he wants to leave a club and his agent hurls insults at one of [Read more]
The outbreak of bird flu in the US is leading to an unprecedented situation for companies reliant on eggs – [Read more]
Germany's finance ministry has denied reports it was considering offering Greece its own parallel currency. [Read more]
Chancellor George Osborne was given a boost today, as higher tax receipts helped shrink the deficit by more than [Read more]
Beleaguered spread-betting firm Plus500 today suspended trading in its shares on London's junior market, following [Read more]
The news that card and electronic transactions have overtaken cash as the UK’s preferred method of payment is [Read more]
Despite the crippling effect of election uncertainty, offers received in April were up 15 per cent on last year [Read more]
Former secretary of state for communities and local government Eric Pickles is to be knighted, 10 Downing Street [Read more]
Network Rail engineers have destroyed the Abbey Wood station as part of the Crossrail development that is expected [Read more]
The Championship looks set to once again be named the fourth most-watched league in Europe, following a seven [Read more]
The Costa Coffee owner said Brittain was "the standout candidate from a very strong field". [Read more]
Sugary foods may be taxed to cover the costs of treating obesity, a government minister has said.