What the other papers say this morning - 10 April 2013
10 April 2013 2:14am
Silicon Valley lobby group criticised
Silicon Valley’s latest attempt to form a lobbying group has been attacked by rivals in the tech sector as an interference in politics that risks attracting negative publicity. The new organisation marks the first major political action group to emerge from the tech industry. Starting out with what insiders estimate will be $20m-$25m in seed money from Facebook founder Mark Zuckerberg, it is set to become Silicon Valley’s richest lobby group, with a total fundraising target of $50m.
Demand for junk bonds resumes
A dearth of attractive investment options has pushed global investors back into the US junk market, sending yields lower and enabling borrowers with weak credit histories to raise funds at the lowest rates on record.
Euro states set to disclose tax details
Austria and Luxembourg are preparing to ease longstanding and controversial bank secrecy rules, allowing other EU member states access to their depositors’ account details amid mounting pressure to crack down on tax evasion in Europe.
Ping An to buy Lloyd’s building
The Lloyd’s of London building, one of the City’s architectural masterpieces, is to be sold to the Chinese life insurance company Ping An for about £260m. It will be the first London investment by a Chinese life insurance group.
Soros backs Eurobond plan
George Soros last night urged Eurozone countries to issue joint debt bonds with or without Germany to save the European Union.
The Daily Telegraph
M&S chief safe for a year
One of Marks and Spencer’s largest shareholders has said Marc Bolland’s job is safe for at least a year despite the retailer’s expected poor performance in the fourth quarter.
Bitcoin passes $200 for first time
Bitcoin, the controversial electronic currency, has passed the $200-mark for the first time, setting new records despite talk of a bubble as investors flock to the virtual currency.
THE WALL STREET JOURNAL
Penney backfires on Ackman
JC Penney’s decision to oust chief executive Ron Johnson is a blow to hedge-fund manager William Ackman, who set out to change the retailing world by revamping the US fashion chain.
€500 bank note should be killed
An analyst is arguing that the ECB should exterminate the €500 note to weaken the euro, provide an economic boost, and allow the ECB to pull a fast one on gangsters.
In other news
Greece’s interior minister has said that the country cannot afford its 5 June payment to the International Monetary [Read more]
Young people aged 16 and 17 years old should be given the chance to vote in a EU referendum, according to the [Read more]
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]