Nationalising RBS on the table
Senior government figures are discussing the possibility of fully nationalising Royal Bank of Scotland amid mounting frustration at banks’ failure to lend to British businesses. Cabinet ministers are having conversations about whether to spend around £5bn buying up the 18 per cent of the bank the government does not own, although chancellor George Osborne is opposed. Some at the top of government believe forcing RBS to lend more is the only way to push the banks into action on lending.
Time Warner eyes higher fees
Time Warner will push for double-digit increases in the fees distributors pay for networks like TNT and TBS, it said as it unveiled results showing strong programming profits undermined by weakness at Time Inc’s magazines.
Schneider targets more takeovers
Schneider Electric, the French industrial bellwether, is going back on the acquisition trail as it looks to use its strong cash flow to counteract falling organic sales in western Europe, China and Japan.
Ordnance Survey targets Arab world
Residents of Dubai could soon pick their way through the desert using Ordnance Survey’s distinctive pink-covered maps. The government’s geographical agency is establishing an international division to meet foreign demand for its services, particularly from oil-rich Arab nations.
Ex-McDonald’s boss to Wagamama
Steve Easterbrook, who turned around McDonald’s during his four-year stint as head of the firm, was yesterday named the new chief executive of Wagamama.
The Daily Telegraph
Branson attacks rival rail bids
Sir Richard Branson has complained to the Government that it risks a re-run of previous rail franchise failures if it awards the West Coast Main Line contract to an unrealistically high bid from FirstGroup.
News Corp may face hacking charges
News Corporation and its directors face the prospect of criminal charges in the UK after it emerged the parties could be liable for phone hacking offences under “neglect of duty” legislation which is part of the Regulation of Investigatory Powers Act.
THE WALL STREAT JOURNAL
Judge backs HP in Oracle case
A state court judge in California ruled that Oracle Corp is contractually obligated to develop software for some high-profile server systems sold by Hewlett-Packard. HP’s sales have been hurt by the prospect that future versions of Oracle programs wouldn't run on its flagship hardware.
NBC expects break even on Olympics
US network NBC said it could approach break-even on this year’s coverage of the Olympic Games, following a previous loss estimate of up to $200m.