Loopholes for Cameron on EU treaty
David Cameron’s demands to renegotiate British membership of the EU would not necessarily require a treaty change, according to the top Brussels lawyer who helped to draft every EU treaty from Maastricht to Lisbon. Jean-Claude Piris, former legal counsel of the European Council and the Council of Ministers, said Cameron’s seven key demands could be met with some deft legal drafting, provided there was political will on both sides of the negotiations.
Spy agencies recruit corporate IT
Foreign intelligence agencies are targeting IT workers at big businesses, hoping to recruit them and gain privileged access to sensitive computer systems, MI5 has warned British corporate chiefs.
Italy set to launch privatisation drive
Italian state-owned shipbuilder Fincantieri will apply to list in Milan as early as today, firing the starting gun for what officials predict will be Italy’s largest privatisation programme since the 1990s, with a plan to raise €12bn. Matteo Renzi, Italy’s prime minister, has stuck to privatisation targets unveiled by his predecessor Enrico Letta in January, unveiling a programme to reduce Italy’s public debt of more than €2tn for the first time in six years. Analysts estimate Fincantieri could be worth more than €1.5bn.
Royal Mail on course for row on pay
Royal Mail is on a collision course with its largest shareholder over demands for a big pay rise for its chief. Donald Brydon, its chairman, is on record as saying he wants to improve the pay of Moya Greene. However, Mr Brydon’s call flies in the face of the clampdown on executive pay by Vince Cable whose department is the steward of the 30 per cent stake held by the taxpayer.
Gurkhas enter UK’s energy market
A group of 200 former Gurkhas in Farnborough, Hampshire, have clubbed together to invest £600,000 to set up their own energy provider, Gnergy, which intends to take on the big six firms.
The Daily Telegraph
Bwin.Party and Spring Owl at war
A war of words has broken out between Bwin.Party and activist investor Spring Owl after the fund published a 37-page presentation urging for a shake-up at the online gaming company.
Spring Owl said it had “received incredible support from Bwin Party shareholders”. However, people close to Bwin poured cold water on the claims and said they were unsubstantiated.
Wilders: Ukip will join our EU bloc
Europe’s leading far-Right leader, Geert Wilders, has claimed Ukip will end up in an alliance with Marine Le Pen and other Eurosceptics in the new European parliament after this month’s elections.
THE WALL STREET JOURNAL
Adidas puts Rockport up for auction
Athletic apparel giant Adidas is looking to sell its Rockport brand, according to people familiar with the matter. The German company has hired investment bank Guggenheim Partners to start pitching Rockport to potential buyers, said two of the people. Rockport could command $300m.
Symantec says antivirus is dead
Symantec invented commercial antivirus software to protect computers from hackers 25 years ago. Now the firm says the tactics are doomed to fail. Rather than fighting to keep hackers out, new technologies aim to minimise the damage.