CAMERON WOOS NORDIC NATIONS
David Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality.
Cameron’s spokeswoman insisted the summit was not an attempt by Britain to forge a new northern alliance in the European Union of predominantly liberal, atlanticist countries, some of which have high levels of euroscepticism.
CSC IN TALKS OVER £1.6BN PURCHASE OF TRAFFORD CENTRE
Capital Shopping Centres is close to agreeing the UK’s largest property transaction with the purchase of the £1.6bn Trafford Centre in a deal that would make John Whittaker, the northern billionaire, its largest shareholder. CSC, the largest retail property company in the UK, is in advanced talks to buy the 1.5m sq ft shopping centre near Manchester that was built by Peel Holdings.
WESTINGHOUSE TRIES TECH TRANSFER DOOR TO CHINESE NUCLEAR MARKET
Westinghouse Electric has handed over more than 75,000 documents to its Chinese customers as the initial part of a technology transfer deal it hopes will secure its place in the fastest-growing nuclear market. The documents relate to the construction of four reactors a US nuclear company controlled by Toshiba is building.
OPEC CALLS FOR TIGHTER CONTROLS ON OTC TRADING
The oil market risks “chaos” and global supplies could be disrupted unless tighter regulation is imposed on the trade in oil-based financial instruments, according to Opec’s secretary-general.
CHINA PREPARES TO GET TOUGH ON BANKS’ LENDING BINGE
China’s banking industry is days away from bursting through its 7.5 trillion yuan annual loan ceiling after three weeks of frenetic lending and surging house prices, banking insiders have told The Times. The £713bn quota breach, which was described by analysts yesterday as “inevitable”, will set up a showdown between China’s powerful financial sector and a Government in Beijing straining to anchor inflation expectations and dam a flood of domestic and foreign liquidity.
ACTIVIST INVESTOR SET TO TOP DAIRY FARMERS’ SHARES OFFER
Thousands of small dairy farmers are not being told about a higher offer for their shares in National Milk Records, according to an activist investor.
The Daily Telegraph
BRITISH AIRWAYS’ SUSPENSION OF CABIN CREW MEMBER RAISES FURTHER STRIKE FEARS
The prospect of further cabin crew strikes at British Airways has increased after Unite expressed “dismay and anger” at the suspension of a staff member at the airline. Unite allege a “long-standing” member of the cabin crew, Andrea Molton, has been suspended by BA for launching a Christmas collection for suspended and sacked colleagues.
NEWS CORP MOVES INTO EDUCATION SECTOR WITH $360M PURCHASE OF WIRELESS GENERATION
News Corporation, the owner of 20th Century Fox and newspapers including The Times and The Sun, is making its first foray into the classroom with the $360m (£228m) acquisition of Wireless Generation. The group has bought a 90 per cent stake.
WALL STREET JOURNAL
FUGITIVE CEO TO PAY $53 MILLION TO SETTLE US CHARGES
Jacob “Kobi” Alexander, the software executive who fled the US while facing charges for backdating stock options, has agreed to pay more than $53m to end civil actions by US prosecutors and regulators. Mr. Alexander, the former chairman and chief executive of Comverse Technology, was accused in 2006 by federal prosecutors in Brooklyn of engaging in a scheme to backdate millions of stock options for himself and others. He was also accused of secretly awarding backdated options to favoured employees.
BEATLES ALBUMS SELLING BRISKLY
Apple says people snapped up more than 450,000 copies of Beatles albums plus two million individual songs during the Fab Four’s first week on sale through iTunes.