Temasek considers StanChart stake
Singapore investment fund Temasek has sounded out potential buyers for its £6bn stake in Standard Chartered, potentially reigniting talk of a takeover of the emerging markets bank. The fund, which is owned by the Singapore government, had been judging buyer interest for its 18 per cent shareholding in recent months, said people close to the situation.
UK and Canada to share embassies
Britain is to co-operate closely with Canada to share embassy facilities abroad, in a move that has raised questions about the UK’s commitment to furthering diplomatic links with the EU. William Hague signed an agreement in Ottawa yesterday that will see Britain and Canada co-operate when sharing facilities and providing consular services.
Investors shift to derivatives funds
Investors are piling into specialised stock market funds that use derivatives to boost returns. A recent Deutsche Bank study estimates that the assets of funds that employ such strategies have climbed to over $32bn (£19bn) this year.
Camelot abandons Desmond battle
Camelot has abandoned its legal battle against Richard Desmond’s Health Lottery – which operates using a loophole in the gambling legislation – and appealed directly to David Cameron to protect the National Lottery’s sales.
Silicon Roundabout going wrong way
Inventor James Dyson has called on the government to back manufacturing firms, not Google-like web companies, in an explicit jibe at the coalition’s digital strategy.
The Daily Telegraph
Oligarchs may bid to own all TNK-BP
BP’s oligarch partners may consider making a cash offer for all of the British company’s 50 per cent stake in their Russian joint venture TNK-BP, making the sale process more competitive.
Protesters hand ex-HMRC boss award
An after-dinner speech by the former head of HMRC, Dave Hartnett, was interrupted by protesters who awarded the retired official with a “lifetime achievement award to corporate tax planning”.
THE WALL STREET JOURNAL
Key Galleon witness sentenced
A former Intel employee, Rajiv Goel, who said he was “deeply ashamed” of his insider trading avoided a prison sentence yesterday for helping the government catch and prosecute Galleon Group hedge fund founder Raj Rajaratnam.
United gets first Dreamliner
United Continental Holdings has taken delivery of the first of the 50 Boeing 787 Dreamliners it ordered, becoming the new jet’s initial North American operator.