Risky groups face outsourcing ban
The performance of troubled Olympics contractor G4S will be reviewed “very carefully”, the Cabinet Office has warned, in a shake-up of outsourcing contracts across government that has already seen two IT companies struck off its list for future tenders. The department’s decision to look at G4S’s record comes as Nick Buckles, chief executive, is due to appear before the Commons’ home affairs committee on Tuesday to explain why the private contractor failed to provide a promised 10,400 venue guards for the Olympics.
Tories broker 4G peace talks deal
A peace deal between the UK’s mobile operators has been brokered by the government that will smooth the way for next-generation 4G mobile broadband services to be launched after years of delay.
IMF urges EU to invest in Irish banks
The International Monetary Fund has boosted Ireland’s campaign to win relief on its €64bn banking debt by urging European authorities to use a new bailout fund to make direct investments in the country’s lenders.
Eastern Bloc feels the chill
The new head of the European Bank for Reconstruction and Development has called for co-ordinated intervention in Eastern Europe, where he said the euro crisis was having a “frightening” impact on growth.
Winners won’t take it all in JJB sale
Rivals are circling JJB Sports in the hope of taking control of the sportswear chain’s best stores. KPMG is running an accelerated sales process for JJB, whose shares are languishing at a fraction of a penny.
The Daily Telegraph
PM to meet supermarket chiefs
The Prime Minister David Cameron is to meet the leaders of the UK largest supermarkets to discuss ways the industry can help tackle youth unemployment.
HSBC sells Pakistan arm
Banking giant HSBC has agreed to sell its operations in Pakistan comprising 10 branches to the Asian country's JS Bank for an undisclosed sum. The British lender said the sale represented further progress in its strategy to slash group costs, AFP reported.
THE WALL STREET JOURNAL
Corporate bonds’ $19bn day
Drugstore chain Walgreen led 14 companies to sell nearly $19bn worth of debt, making yesterday the biggest day for investment-grade bond issuance since September.
Pirate Bay co-founder goes home
Gottfrid Svartholm Warg, a co-founder of The Pirate Bay, has left Cambodia and is being transported to Sweden, a spokesperson at Sweden’s foreign ministry said yesterday.