Hildebrand takes Blackrock role
Philipp Hildebrand, the former chairman of the Swiss National Bank, is joining BlackRock as vice-chairman and will oversee the firm’s largest institutional client relationships outside of the US.

Treasury rejects pay levy on City
The Treasury has rejected a plan to get the City to pay the salaries of some of its civil servants, despite warnings that low pay and high staff turnover are leaving the department dangerously exposed.

F1 suspends IPO over market turmoil
Turmoil in financial markets has pushed the owners of Formula One to delay a $3bn share offering in Singapore due later this month, according to people close to the situation. A formal decision by F1’s owners, led by CVC, the private equity firm, is expected early next week.

Phaidon hires Greenhill for sale
Phaidon Press, the privately owned art and cookery book publisher behind titles including Ernst Gombrich’s The Story of Art and The Silver Spoon, has hired investment bank Greenhill to find a buyer.


Margate fears over Portas project
Margate, one of the towns chosen by the government as a “Portas Pilot” high street rejuvenation project has attacked a deal to turn its scheme into a Mary Portas television series.

HMRC targets Liechtenstein dogers
Days are numbered for tax dodgers who have squirreled their money away in the tiny Alpine principality of Liechtenstein, with HM Revenue & Customs expecting to raise £3bn from them.

The Daily Telegraph

Cable calls for manufacturing vision
Vince Cable, the business secretary, has said the government must develop a “strategic vision” to grow British industry and should use the automotive sector as model for success.

SSE attacks nuclear subsidy talks
Government negotiations with French energy giant EDF over subsidies for new nuclear power are being conducted in “a smoke-filled room”, the chief executive of rival company SSE claimed yesterday.


Facebook takes on critics
Facebook launched a public-relations blitz to hit back at criticisms. It had been prohibited from making public comments under securities rules. That period has now ended, allowing executives to speak out to justify the firm’s business model.

Dell to start paying a dividend
Dell said it plans to pay a stock dividend beginning in its fiscal third quarter, as the computer maker looks to increase shareholder value.