PEERS IN FRESH THREAT TO BILL FOR FIXED-TERM PARLIAMENTS
The coalition’s plan for fixed five-year parliamentary terms is in jeopardy, with peers threatening to vote against the legislation in the autumn for a third time. David Cameron and Nick Clegg put the promise in their coalition agreement last year in an attempt to bind each other into their unusual political marriage. Mark Haprer, a minister in the Cabinet Office, has accused peers of “driving a coach and horses” through the legislation earlier this summer.
TOSHIBA OVERTAKES ITS 3D TV RIVALS WITH GLASSES-FREE SET
Toshiba has taken a significant lead over Sony and other 3D technology rivals with the unveiling of the world’s first glasses-free large-screen 3D television at the IFA Consumer Electronics Show in Berlin. The 44-inch (140cm) set will go on sale in December, months, if not years, ahead of such TVs planned by other manufacturers.
CHINA IN NEW PUSH ON INTERNET OWNERSHIP
Changes to China’s mergers and acquisitions rules that took effect yesterday mean internet companies there will face greater scrutiny of vehicles they have been using for more than a decade to circumvent restrictions on foreign ownership in the sector. The new regulations are meant to clarify national security reviews of foreign investments in Chinese companies.
ITALY GETS CLOSE TO COMPLETING AUSTERITY DEAL
Italy’s squabbling centre-right government has cobbled together a compromise austerity package that relies heavily on a renewed crackdown on tax evasion to reach the goal demanded by the European Central Bank.
BILLIONAIRE BROTHERS SET FOR £57M CLIVEDEN DEAL
The billionaire Livingstone brothers are poised to buy Cliveden, the stately home at the heart of the Profumo scandal 50 years ago. London & Regional, their property investment group, is understood to have been named by the administrators of the collapsed Von Essen Hotels chain as preferred bidder for the Buckinghamshire mansion and the Royal Crescent Hotel in Bath.
TROUBLE IN TOYTOWN: NODDY PUT UP FOR SALE IN CHORION FIRE SALE
Big Ears and Miss Marple are up for grabs in a break-up of Chorion, the struggling media business that owns the literary rights to some of Britain’s best loved fictional characters. Advisers have been appointed to conduct a sale of the company’s assets, which include Noddy and Mr Men.
The Daily Telegraph
CENTRAL BANK FLIGHT TO FEDERAL RESERVE SAFETY TOPS LEVEL SEEN DURING LEHMAN CRISIS
A key warning signal of global financial stress has shot above the extreme levels seen at the height of the Lehman crisis in 2008. Central banks and official bodies have parked record sums of dollars at the US Federal Reserve for safe-keeping, indicating a clear loss of trust in commercial banks.
WALMSLEY FURNITURE CHAIN IS THE LATEST RETAILER TO COLLAPSE
The fragile state of the high street has been underlined by the collapse of Walmsley’s furniture chain, the latest in a long line of homeware retailers to enter administration. The collapse will see 35 stores close with immediate effect and about 200 people lose their jobs. Private equity firm SKG Capital has bought 25 of 60 stores.
THE WALL STREET JOURNAL
AMAZON OFFERS JOBS IN CALIFORNIA IN EXCHANGE FOR TAX REPRIEVE
Amazon.com has put forward a plan that would create thousands of jobs in California in exchange for a reprieve from the state’s new internet sales tax law, a move that comes as the online retailer clashes with state governments around the country. The Seattle-based company’s plan calls for it to invest in California-based distribution centers, where it fills orders for delivery.
MICROSOFT SUED OVER MOBILE PHONE TRACKING
A Michigan woman, Rebecca Cousineau, is suing Microsoft for allegedly tracking phones that run the software giant’s Windows Phone 7 operating system, the centrepiece of the company’s efforts to grab part of the burgeoning mobile market. Cousineau seeks class-action status.