Aviva considers plans for sale of US division
Aviva is considering plans to sell its life assurance business in the US in a move analysts estimate could raise at least £1bn and mark an exit from one of the UK-listed group’s core markets. Andrew Moss, chief executive, told investment managers at a recent meeting that it could consider offers.
City watchdog finds a new home
One of the hubs of City dealmaking from the last decade is to become the power base for the new financial services regulator. The Bank of England is set to announce as early as next week that the Prudential Regulatory Authority will be based at 20 Moorgate, the old headquarters of JP Morgan Cazenove.
Brazil’s Vale to press ahead with 100 mega-ships for China market
Vale has signalled it is prepared to commission more than 10 of its controversial giant Valemax ships as the iron ore producer battles with Australian-based miners for the key Chinese market.
Tesco looks for new messenger to talk to customers
Tesco yesterday embarked on a “review of its brand communications” yesterday and said that its incumbent advertising agency would have to pitch for the account with rivals.
All Leisure directors waive dividend
Directors of cruise company All Leisure Group that operates the HebrideanPrincess have opted to waive their rights to the final dividend on the back of increasingly stormy trading conditions.
The Daily Telegraph
Casino billionaire plans mini Las Vegas in Spain
Las Vegas glitz could be coming to Spain under plans American casino billionaire Sheldon Adelson has to replicate the Nevada strip’s famous strip.
Battle for website addresses draws to a close
The battle for some of the world’s catchiest website addresses will come to a head today as the window for applications for new “domain names” closes.
THE WALL STREET JOURNAL
Carnival’s booking volume improves on lower pricing
Carnival said yesterday bookings have increased in recent weeks, with the exception of the Costa line following January’s deadly cruise ship grounding.
Judge rules MF Global can use insurance money for Corzine
A bankruptcy judge said MF Global can use existing insurance policies to pay potential “wrongful act” legal-defense fees for former chief executive Jon Corzine.