RBS suffers blow over branches deal
Royal Bank of Scotland is set to receive up to £300m less than it expected for a package of branches it is selling to Santander UK because the business has failed to hit a number of targets outlined in the deal. A sharp deterioration in the economy since the sale was struck in August 2010 has constrained the profitability of the business, which consists of 318 branches.
Brussels acts over garlic tax
The European Commission is taking Britain to court in a battle over an unpaid bill of millions of pounds in duty on imports of garlic. The European Commission announced legal action after an ultimatum to pay £15m to Brussels or face action in the European Court of Justice expired .
Triton in European Directories offer
Triton, the northern Europe-focused private equity firm, has offered to take over European Directories after accumulating a sizeable share of the directory company’s debt. Triton has over the past six months amassed 29 per cent of the firm’s debts, at a value of €240m.
Landlords fight for Game’s rent
Some of Britain’s largest landlords are preparing to sue PwC over the administration of Game Group in an attempt to recoup millions of pounds of unpaid rent.
Starbucks, for a great cuppa tea?
The world’s biggest coffee shop operator is brewing up plans to open a tea shop. Starbucks has announced plans for a store under the Tazo Tea brand near its Seattle headquarters. Starbucks has owned Tazo since 1999.
The Daily Telegraph
IPO rules need overhaul
US regulators should overhaul rules governing how companies go public in the wake of Facebook’s multi-billion dollar flotation, according to a powerful Congressional committee.
Northerners pay £92 more for their gas and electricity than Southerners
Energy prices differ between regions by up to £92 a year and some of the highest costs hit areas with the most unemployment, a study has found.
THE WALL STREET JOURNAL
Roche probed over safety reports
Europe’s main medicine regulator said it is investigating Swiss drug giant Roche Holding for failing to properly vet 80,000 reports of possible drug-safety issues received from patients and doctors.
Weinstein gets new film funding
Independent movie producer Weinstein Co, which has struggled financially even while turning out Oscar-winning films, said yesterday it closed deals for $225m in new financing, giving it fresh access to credit ahead of a production-heavy fall.