Qatar eyes Bankia stake in parent of British Airways and Iberia
Qatar has sounded out International Airlines Group about becoming the largest shareholder in the parent of British Airways and Iberia by buying a stake held by Bankia, the troubled Spanish bank. People familiar with the situation said Qatar had made an informal approach to ask whether the airline group would welcome the Gulf country shareholder. The 12 per cent stake is worth £627m based on yesterday’s share price.
Britain to look at forcing open Europe services market
Britain is looking at forming an “advance guard” of economically liberal EU countries to force open the single market in services, in a sign of growing Tory frustration over the direction of Europe.
Coty scents fresh appetite for IPO
Coty, the beauty products company that failed to buy Avon for $10.7bn last year, is making a renewed effort to launch an initial public offering in what would be the largest float by a US consumer retail business since Michael Kors listed in 2011.
RBS giveaway urged by Tory MP
Every taxpayer should receive an £800 stake in RBS to kick-start growth and rekindle the Thatcher-era fervour for share ownership, according to Nadhim Zahawi, a Tory MP.
Insurer quits over treatment
One of the highest-paid women in insurance has quit her £900,000-a-year job at Jardine Lloyd Thompson amid claims of a dispute with the chief executive, Dominic Burke.
The Daily Telegraph
Cairn joins search for Irish black gold
FTSE 250 oil explorer Cairn Energy has joined in the search for oil off Ireland in a deal worth an estimated $85m (£55m) that will see it begin drilling next year about 100 miles off the coast.
BT Sport to broadcast UFC
BT Sport has signed a multimillion pound, three-year contract to broadcast live Ultimate Fighting Championship bouts ahead of the channel’s commercial launch this week.
THE WALL STREET JOURNAL
Icahn and Southeastern link up
Southeastern Asset Management and investor Carl Icahn are talking about teaming up to nominate directors to the Dell board as part of an effort to derail the computer maker’s $24.4bn leveraged buyout.
China approves Cadillac plant
General Motors said it received permission from Chinese authorities to build a $1.3bn plant to manufacture its Cadillac brand.