Walker plans Barclays clear-out
Sir David Walker is planning a clean sweep of Barclays’ board after he formally becomes chairman of the scandal-tainted bank next week and will also oversee the replacement of some executive positions. The City grandee has been sounding out top figures over their suitability to join the bank in a variety of roles.
Buffett looks for big-ticket deal
Warren Buffett has said he is “salivating” at the thought of spending some of his $40bn cash on a big acquisition as he revealed that two $20bn deals fell through this year after disagreement over price. The billionaire investor told CNBC that he was unwilling to compete with other bidders in his pursuit of companies to add to Berkshire Hathaway, the confectionery-to-cargo train conglomerate he controls.
Huggies nappy production binned
Kimberly-Clark is closing the bulk of its western European Huggies nappy business in a retrenchment likely to involve the US-based personal care company axing up to 1,500 workers.
Double-dip set Britons back £1,800
Britons are £1,800 a year worse off than they would be had the country avoided a double-dip recession, according to a study by PwC. It found incomes would be nine per cent higher if they had they kept growing along their pre-crisis path.
Celebrity gym eyes City location
Equinox, an American gym chain popular with celebrities such as Lady Gaga, has opened in Kensington. It charges £180 a month and is looking for a site in the City.
The Daily Telegraph
Bundesbank cut London gold stock
Germany withdrew two thirds of its vast holdings of gold from Bank of England vaults shortly after the launch of the euro, according to a report that emerged yesterday. Germany’s budget watchdog has demanded a probe to verify whether its remaining reserves really exist.
Talisman invests £1.6bn in North Sea
Oil company Talisman Energy is to invest £1.6bn in extending the life of fields in the North Sea, as a result of tax breaks unveiled by the Treasury last month.
THE WALL STREET JOURNAL
Facebook shares rise 20 per cent
Facebook’s shares surged toward their biggest daily gain since the company's initial public offering in May, one day after the social network reported strong revenue and progress on making money from mobile ads. The stock climbed 21 per cent, before closing up 19.1 per cent.
Knight chief discusses E*Trade job
Knight Capital Group chief executive Thomas Joyce has had preliminary talks about the top job at broker E*Trade.