Lloyds stake for retail investors
As much as half of the government’s £18bn stake in Lloyds Banking Group would be sold to retail investors in a provisional scenario being sketched out by officials as they step up efforts to exit the bank. The sell-off could start as early as September, with a 5-10 per cent stake in Lloyds being placed with institutional investors at a small discount to the share price. A second institutional placing could follow early next year, with a retail tranche to follow, paving the way for the government to offload its 39 per cent stake completely by the end of 2014.
TeliaSonera attacks Turkish state
A Turkish government regulator plans to appoint a majority of the board members of Turkcell, the country’s leading mobile group, even though Sweden’s TeliaSonera, the biggest minority shareholder, has labelled such a move a virtual “nationalisation”.
Kazakhmys vote on ENRC takeover
Kazakhmys, the largest shareholder in Eurasian Natural Resources Corporation will as early as Friday set in motion plans that will lead the troubled miner’s founders to complete their takeover attempt.
North Sea wind farm approved
The government has given planning permission for an even bigger operation off the Norfolk coast for one of the world’s biggest wind farms. The Triton Knoll offshore wind farm involves installing 288 turbines about 25 miles off the coast at a cost of £3.6bn.
BlackRock to assess RBS bad bank
The government has hired BlackRock to assess the value of loans that may be put into a Royal Bank of Scotland “bad bank”, with the specialist financial group set to earn £1m or more in fees from the task, to be paid by RBS.
The Daily Telegraph
Carl Icahn preparing higher Dell bid
Billionaire investor Carl Icahn is preparing a higher bid for computer maker Dell ahead of a key shareholder meeting after proxy firms endorsed founder Michael Dell's $24.4bn buyout offer.
Ice cream vans win right to chime
Ice cream van drivers have scooped their biggest victory for 30 years - after being told they can play their chimes for longer. In a Government move to slash red-tape, Defra yesterday revealed the chimes can ring out for up to 12 seconds a time, as opposed to the current four.
THE WALL STREET JOURNAL
Nokia unveils 41-megapixel camera
Nokia has unveiled the latest model of its Lumia high-end smartphones, the Lumia 1020, in the latest attempt to bolster its waning position in the competitive smartphone market. The phone will have a 41-megapixel camera.
US and China resume treaty talks
In what US Treasury Secretary Jacob Lew called “a significant breakthrough” in trade relations with China, officials from the world’s two largest economies yesterday agreed to restart stalled negotiations for an investment treaty that could boost both countries.