Repsol rejects Argentina deal
Repsol’s board has unanimously rejected a settlement with Argentina over last year’s expropriation of its YPF unit proposed by one of the Spanish oil group’s largest shareholders. Mexican group Pemex had brokered a €10.5bn (£8.9bn) that would see Repsol form a new joint venture in the country.
Italy probes use of derivatives
Italy’s judiciary has opened an inquiry into the Treasury’s use of derivatives to hedge public debt after reports that the state faced potential losses of billions of euros on contracts restructured during the eurozone debt crisis last year.
EU demands answers from GCHQ
Britain is heading for a clash with Brussels over its eavesdropping after the EU Commission charged that citizens’ rights may be being flouted and gave the Government three days to explain its operations. Viviane Reding, the commissioner for justice has written to William Hague over the issue.
BA headphones from China prison
Passengers who have enjoyed the entertainment on British Airways flights may have used headphones made in the bleak and abusive sweatshops of a Chinese prison factory, a former inmate has claimed.
The Daily Telegraph
US boss sets record with $159m pot
John Hammergren, the head of health care company McKesson, has amassed a record $159m (£103m) pension pot – and he’s not finished saving yet. Despite his potential pension pot, the chief executive has chosen to stay on at the health care company, where he earns more than $50m a year.
News Corp rebrands UK newspapers
News International, the company behind Rupert Murdoch’s British newspapers, has been renamed News UK in preparation for a major restructuring this week. Parent company News Corp will split into two later this week.