RAJARATNAM REVEALED OUTSOURCER’S SALE
Raj Rajaratnam, the hedge fund billionaire on trial for alleged insider trading, told a friend the price an Indian company offered to pay for PeopleSupport days before a deal was announced, according to a phone call played by prosecutors.
TCHENGUIZ PLANS TO RESTRUCTURE £2BN DEBT PILE
Vincent Tchenguiz, the property mogul arrested and released without charge last week as part of the investigation into Kaupthing, has begun a process to restructure more than £2bn of debt backing his business. He last month held a “beauty pageant” of investment banks to advise on plans to restructure or refinance the debt.
The Daily Telegraph
US INFLATION PUTS EATING OUT BACK ON THE MENU
The surge in US food prices so far this year is making eating out an even more attractive option for many cash-strapped Americans, official figures have shown. The Labor Department's index for food away from home edged up 0.2pc in February and is now 1.6pc higher over the past 12 months.
JAPAN RISKS CREDIT CRUNCH AS YEN THUNDERS
Japan is in imminent danger of a credit-crunch with global implications unless the authorities stabilise Tokyo’s stockmarket and take overwhelming action to stop the yen exploding to record levels.
RECOVERY UNDER THREAT?
Britain has entered a hazardous period as new question marks hang over the recovery at a time of persistently above-target inflation, a top Bank of England official said yesterday. Charlie Bean, the Deputy Governor, told The Times that it was still not clear whether the economy was passing through a soft patch or had entered “a more durable slowing”.
CREDITORS LOSE MILLIONS IN ODDBINS BATTLE
More than a hundred wine producers, brewers and drinks distributors stand to lose millions of pounds under the company voluntary arrangement proposed by the Oddbins offlicence chain.