UNIVERSAL TO SELL $200M OF MUSIC CATALOGUES
Universal Music is selling three of its music publishing catalogues in a deal valued at up to $200m that will help to maintain Vivendi’s cherished triple-B credit rating as the music company pushes through its planned $1.9bn purchase of EMI.
JEFFERIES TO EXPLOIT ITS RIVALS’ TROUBLE WITH NEW FINANCE ARM
Jefferies is looking to set up a corporate lending business in Europe as the fast-growing US investment bank seeks to grab market share from retrenching rivals. The bank plans to establish a financing arm this year in a move that would further expand operations in Europe where it has quadrupled its workforce to almost 1,000 over the past five years.
INSIDER TO FOLLOW RETIRING CHIEF
Richemont, the world’s second-biggest luxury goods group by sales, said Bernard Fornas would be retiring as chief executive of Cartier, its powerhouse jewellery and watch subsidiary.
GOLDMAN EYES TRADING CHANGE
Goldman Sachs is considering how to roll out electronic trading technology to its fixed income business – one of its biggest revenue generators – as it prepares for new regulation. Goldman’s fixed income, currency and commodities unit, or FICC, has historically been one of the largest profit centres for the bank.
MAKE GOOGLE CENSOR ILLEGAL ONLINE CHATTER, SAY MPS
Google and other internet search engines should be forced to introduce filters to remove material banned by courts if they are not prepared to do so voluntarily, according to a parliamentary committee. The Attorney-General should also be more willing to prosecute people for contempt of court if they breach injunctions online, they said.
TRADER WITH TYPO IN CONTRACT DID NOT HAVE A POINT
JP Morgan Chase will not have to pay a trader whose salary was inflated by a missing decimal point in his employment contract, a court has ruled.
The Daily Telegraph
LORD SUGAR: MOANING FIRMS TEND TO BE SKINT
The Apprentice star said politicians must stop “whining” about banks not lending money to small companies and that most firms who complain about banks are “skint”.
WOMEN EARNING 43P AN HOUR MORE THAN MEN IN PART-TIME WORK
Women who work part-time are earning more than 40p an hour more than men for the first time, official figures show. Although overall the gender pay gap remains, with women earning 9.1 per cent less than men, in part-time work the trend is reversed. Data from the Office for National Statistics shows the higher rate since 1998.
THE WALL STREET JOURNAL
ONCE SHUNNING AD PROMOS, GOOGLE NOW FLAUNTS ITSELF
After years of touting the superiority of online advertising, Google is taking a decidedly different approach to promote itself in areas where its rivals dominate. The Internet company is spending big sums on TV, magazine and newspaper ads to promote new services
JAPAN AIRLINES TAKES DELIVERY OF TWO 787S
Japan Airlines took delivery of its first two Boeing 787 Dreamliners yesterday, after a delay of about three years while the plane-maker wrestled with development and production problems.