Man Utd pauses US listing plans
Manchester United has temporarily paused plans to launch its $300m initial public offering in the US, where market volatility has soared in recent days as macroeconomic fears hit share prices. The English football club had been looking to begin its investor roadshow as early as Monday of this week, with the aim of pricing and listing its shares in early August. But United and its bankers are to reconsider when they will begin meeting potential investors later this week, said people familiar with the situation.
Pay-TV case legal funding concerns
The Premier League helped to fund the public prosecution of a man accussed of selling Albanian satellie decoder cards to customers looking for a cheaper way of watching English football matches, raising questions about how UK prosecutors are funded and the impartiality of their decisions.
Pork and chicken to join luxury list
Pork and chicken will join beef on the menu of expensive meats as drought and US ethanol policy combine in a corn “disaster”, the head of the world’s largest pork producer has said.
We would not have taken on Olympics, says Capita
The travails of G4S will not derail the onward march of the outsourcing industry, Capita said yesterday after revealing a rise in profits.
Call for bailout fund banking licence
A hint that the European Central Bank could agree to a banking licence for the Eurozone’s permanent bailout fund allowed markets to take a breather yesterday.
The Daily Telegraph
Royal Bank of Scotland cuts interest rates for small businesses
State-backed lender RBS said it will use an emergency government scheme to cut the interest rates it charges on loans to small businesses.
Lord Green: I have no case to answer over HSBC money laundering scandal
Lord Green has claimed he does not “have a case to answer” over the HSBC money laundering allegations that have emerged from his time at the head of the bank.
THE WALL STREET JOURNAL
United Technologies in $3.5bn deal
United Technologies yesterday agreed to sell three units of its Hamilton Sundstrand subsidiary to a private-equity group for about $3.5bn (£2.3bn), in a deal that will help fund its purchase of aircraft-components maker Goodrich Corp.
Risks at JP Morgan Spotted
More than a year before JP Morgan Chase racked up billions of dollars in losses from bad trades in its London investment office, Bank of England officials raised concerns internally about potential risks.