BRAZIL’S BTG BANK TO CEMENT RAPID RISE WITH $15BN FLOAT
BTG Pactual is set to float later this month in a deal that will value the rapidly growing Brazilian investment bank’s equity at up to $15bn and the shareholdings of a swathe of executives at more than $150m each.
BSE HEAD APPOINTED TO KEY TATA ROLE
Cyrus Mistry, incoming head of the Tata Group, will yesterday announce his first major hire, in a move that signals a further push towards expansion for India’s most global company. Mr Mistry will appoint Madhu Kannan, chief executive of the Bombay Stock Exchange, to a newly-created position to spearhead the next stage of growth in the conglomerate.
COURT RULING BACKS BUYERS OF LEHMAN RATE SWAPS
Companies that bought interest rate swaps from two Lehman Brothers units cannot be forced to make payments on contracts relating to the period after the investment bank collapsed in 2008, the UK’s Court of Appeal has ruled.
FIRST RURAL BROADBAND CONTRACT
Lancashire Council has given BT a £62.5m contract to extend its fibre-optic network to 97 per cent of premises by 2014, using the first subsidy in a scheme to extend rural superfast broadband.
WINCANTON HIT BY RETAIL SLOWDOWN
Wincanton said conditions in the retail sector were set to remain challenging. The fall in demand would leave the company with excess space in its warehouses, it warned in an update
The Daily Telegraph
BORDER GUARD SHORTAGE RISKS GRIDLOCK
Britain’s airports will be reduced to “gridlock” this Easter because there are not enough staff to carry out checks on passports, airlines have warned the Home Secretary.
TESCO SHUTS SECOND-HAND CAR WEBSITE
Tesco has closed its second-hand car website just a year after it launched. The retailer said the site had come to the end of the road after it “couldn’t procure a good supply of cars”.
THE WALL STREET JOURNAL
WEN APPEALS TO SHAKE UP BANKS
Chinese Premier Wen Jiabaosaid yesterday that China's state-controlled banks are a "monopoly" that must be broken, in an unusually blunt appeal for a shake-up of the creaky financial system of the world's No. 2 economy.
FDA FINDS NEWBATCH OF FAKE AVASTIN
The US Food and Drug Administration has found a new batch of counterfeit Avastin. The FDA said medical practices in the US have bought the fakes.