Ackman plans listing for $4bn fund
Pershing Square Capital, the $11bn hedge fund run by high-profile US activist investor Bill Ackman, is planning a $4bn public flotation for a new fund in January 2013. Ackman intends to float the vehicle, which has already been set up in Guernsey and is known as Pershing Square Holdings, on a “major exchange”.

Push to widen search for BoE boss
Senior Tory MPs urged George Osborne on Wednesday to look at candidates beyond the Bank of England to find its next governor, warning that the institution had become prone to “groupthink”. “Before coming to a decision, they should examine every realistic possibility, both inside and outside the bank,” said Andrew Tyrie, chairman of the Treasury select committee.

C&WC considers halving payout
Cable & Wireless Communications is likely to cut its dividend at its full-year results next month to help retain cash in the UK-listed group to cover investment needs in its international telecoms business. CWC committed to an ambitious shareholder payout at the time of its 2010 demerger.


Toxic Bob admits defeat
The environmental movement has lost its No 1 bogeyman after Robert Friedland stepped down from the company he founded after a fight for control with Rio Tinto. “Toxic Bob”, as Friedland is known to environmentalists, resigned as the chief executive of Ivanhoe on Tuesday.

Fears grow on Alaskan mining plan
Native American leaders and a fishing fleet director from Alaska will urge Anglo American to abandon a controversial mine project which could harm fish.

The Daily Telegraph

Amazon buys rights to publish Bond
Amazon has taken a significant step towards becoming a fully-fledged publisher by buying the rights to produce Ian Fleming's James Bond novels in North America.

Families spend on petrol over food
Many families are spending more on fuel than their weekly food shopping because of record petrol prices, the AA has found. The cost of filling up a 50-litre family car is now around £71.24, compared to a £70.10 average household weekly food spend.


AMR outlines cutbacks
American Airlines parent AMR, which is seeking $1.25 billion in annual concessions from its workers in order to reduce its costs and successfully restructure in bankruptcy-court protection, wants to cut 1,200 jobs.

UK may charge 11 on phone hacking
Prosecutors said they are considering criminal charges against 11 people in connection with a long-running police investigation into illegal newsgathering tactics at News Corp’s UK newspapers.