CIC sells bulk of its BlackRock stake
China Investment Corp has sold most of its stake in BlackRock, the world’s largest asset manager, as part of a wider strategy by the sovereign wealth to cut its holdings in global financial institutions. CIC bought just under 3 per cent of BlackRock’s shares, worth about $1bn, when the asset manager agreed to buy Barclays Global Investors in 2009.
Germans write off Greece, says poll
Only a quarter of Germans think Greece should stay in the Eurozone or get more help from other countries in the currency union, a Financial Times/Harris poll has found. The overwhelming verdict highlights Angela Merkel’s domestic dilemma as she comes under pressure in Europe to agree more time or money for Greece to get its €174bn second bailout back on track.
Credit Suisse moving some Singapore jobs
Credit Suisse is relocating dozens of back-office jobs from Singapore to India and Poland as part of efforts to cut costs and support the growth of “front office” jobs.
“Misled” investors line up to sue RBS for £3bn over rights issue
Burnt shareholders in Royal Bank of Scotland are in talks with litigation funds with a view to launching a formal £3.3bn lawsuit within weeks.
Axa puts £320m into King’s Cross offices development
Axa, one of Europe’s biggest insurers, is ploughing nearly £320m into the King’s Cross office market as London’s emerging business district continues to grow.
The Daily Telegraph
Airlines under pressure to allow internet access on aeroplanes
Airlines are under pressure to allow passengers to use the internet several thousand feet in the air. Half of UK adults said they would like internet access on aeroplanes, compared to 13pc opposed to the idea, a YouGov poll found.
Boris Island airport ‘almost as quick’
A new airport in the Thames estuary could be built within 14 years, only two years longer than would be needed to build a third runway at Heathrow, says new research.
THE WALL STREET JOURNAL
Amazon heats up gadget wars
Amazon.com is ratcheting up pricing pressure in the gadget wars with an advertising-supported tablet that will be priced lower than similar models, according to people involved in the discussions.
Pirate Bay co-founder arrested
Cambodian police yesterday said they have arrested Gottfrid Svartholm Warg, one of the masterminds behind notorious file-sharing website The Pirate Bay.