Jobs data defies Hollande pledge
French unemployment rose to a record level in December, forcing President Francois Hollande to concede failure in his main political promise of 2013 to “invert the curve” of rising joblessness by the end of the year. Official figures published yesterday showed the number of jobseekers rose 10,200 in December to 3.3m, a slower rate than earlier in the year but a severe disappointment for Hollande’s socialist government.
Santander appoints Sheila Bair
Banco Santander has appointed Sheila Bair, a former regulator and an outspoken critic of big banks, as an independent director in a move that adds an international presence to the Spanish lender’s board but also raises eyebrows
Bair, who was head of the Federal Deposit Insurance Corporation from 2006 to 2011, has criticised the revolving door of government officials working for related companies in the private sector in her 2012 book, “Bull By The Horns”.
Trinity Mirror shares fall on claims
Trinity Mirror was implicated in the phone-hacking scandal in dramatic evidence at the Old Bailey yesterday. A former journalist at the Sunday Mirror, Dan Evans, admitted intercepting voicemail messages “on a fairly grand scale”. Trinity Mirror’s shares closed down almost four per cent after the evidence.
Caterpillar has dig at EU policy
Caterpillar has taken the unusual step of criticising the European Central Bank for failing to do enough to stimulate the struggling Eurozone economy. In a statement accompanying its latest quarterly and full-year results, the world’s largest maker of heavy construction and mining equipment said that slowing inflation and the recent strengthening of the euro were major concerns.
Pound shop hunt for online riches
The businessman who launched Poundland, Steve Smith, is preparing to open Britain’s only single-price online retailer after buying Poundshop.com.
The Daily Telegraph
Queen’s courtiers overspend: report
The Queen’s household finances were at a “historic low” with just £1m left in reserve, MPs said yesterday. Her courtiers were advised to take money-saving tips from the Treasury. A report by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling”.
Fallon warns on North Sea investment
UK Energy Minister Michael Fallon warned yesterday that uncertainty over the outcome of the referendum on Scottish independence was already hitting investment in the North Sea.
THE WALL STREET JOURNAL
SEC to drop suit against Deloitte
The Securities and Exchange Commission said it would drop a federal lawsuit in which the commission had demanded documents from Deloitte Touche Tohmatsu’s Chinese affiliate to help with its investigation of a US-traded Chinese company.
KKR buys majority in claim firm
Private equity firm KKP and Sedgwick Claims Management Services’ management agreed to acquire a majority stake in insurance claims services firm Sedgwick for about $2.4bn from its current investors.