REGULATORS CONSIDER AN OVERHAUL OF LIBOR
UK regulators and global banks are discussing a potentially far-reaching overhaul of the calculation and regulation of interbank lending rates, amid claims that the benchmark for $350 trillion contracts worldwide may have been subject to manipulation.
STARBUCKS TAKES COFFEE WARS TO NESPRESSO
Coffee capsule wars are set to break out in Europe as Starbucks elbows in on Nespresso’s home turf. The Seattle-based coffee chain, which is already revamping its European operations to move away from identikit stores in every country, is aiming to replicate the strong sales of its own capsule coffee in the US.
SUSPENDED CHEVY VOLT WINS CAR PRIZE IN EUROPE
The Chevrolet Volt, General Motors’ pioneering but troubled electric car, has won a top automotive industry award. The Volt and its European counterpart, the US-built Opel/Vauxhall Ampera, were voted Car of the Year 2012 yesterday, ahead of this week’s Geneva motor show.
TESCO CHIEF SPELLS OUT HOPES FOR US DIVISION
Tesco’s lossmaking chain of US stores is likely to reach a breakeven point as early as this year, the retailer’s chief executive Philip Clarke forecast in his most upbeat assessment yet.
SWEET DEAL FOR JAGUAR COULD BE SOUR FOR STAFF
Jaguar Land Rover could start manufacturing in China within two years. In a move that would help to open up the booming Chinese market for luxury cars, The firm is understood to be close to signing a £1.8bn production alliance with Chery.
OIL GROUPS INVITED TO TAP THE AFGHAN-TAJIK BASIN
After decades of war and instability, Afghanistan is eager to convince the world that it is a place where people can make money. It will take steps towards that end tomorrow when the country’s largest oil exploration licensing round opens in London.
The Daily Telegraph
BT-FUNDED TRADE SHOW OFFERED EXECUTIVES ROMANTIC DINNERS WITH YOUNG RUSSIAN ESCORTS
Delegates at trade show Mobile World Congress, funded by companies including Vodafone and BT, were offered “romantic dinners” with young Russian escorts in exchange for attending business meetings.
DUTCH FREEDOM PARTY PUSHES EURO EXIT AS €2.4 TRILLION RESCUE BILL LOOMS
The Dutch Freedom Party has called for a return to the Guilder, becoming the first political movement in the Eurozone with a large popular base to opt for withdrawal from the single currency.
THE WALL STREET JOURNAL
NATURAL GAS TO POWER PICKUPS
US auto makers are introducing pickup trucks powered by natural gas as they look to catch the growing wave of interest in the fuel as an alternative to gasoline. Chrysler Group plans to build the first production-line pickup truck powered by natural gas. General Motors plans to offer bi-fuel Chevrolet Silverado and GMC Sierra 2500 pickups.
JUSTICES WON’T HEAR PHOTO SITE’S SUIT AGAINST GOOGLE
The US Supreme Court yesterday rejected an appeal by a nude-photo publisher Perfect 10 that alleged Google was infringing its copyrighted images by displaying “thumbnails”.