France Telecom open to EE listing
France Telecom has opened the door for a flotation next year of EE, the UK’s largest mobile phone group by customer numbers that it owns with Deutsche Telekom. Gervais Pellissier, deputy chief of France Telecom, said that there “could be some space at the end of next year” for a flotation, although he added the parent companies would remain the majority controlling shareholders. The group has not appointed advisers for an IPO, seen internally as more likely than a private equity sale
Former Needham executive charged
A former executive of Needham & Co, the Wall Street broker where convicted insider trader Raj Rajaratnam built his career, has been arrested by federal agents for allegedly stealing $1m while at the company.
Targa adds Bakken Shale Play deal
Targa Resources Partners, a midstream energy company based in Houston, on Thursday said it would acquire crude oil and natural gas production and distribution systems from Saddle Butte Pipeline for $950m in cash.
Ponzi scheme seek damages
Trustees representing the victims of Bernie Madoff’s Ponzi scheme are seeking to recoup millions of dollars from the fraudster’s family, including his son’s widow.
Pub group’s bonus takes a hit
The chief executive of the debt-laden pub group Punch Taverns is set to take a £157,000 bonus this year on top of a salary increase of 6 per cent.
The Daily Telegraph
UK supplier rescues cab maker
A British car parts supplier has come the rescue of Manganese Bronze, the black cab maker that went bust after problems with a Chinese steering box forced it to recall 400 taxis.
Triumph Motorcycles profits slow
Triumph Motorcycles Group’s sales and profits have hit the skids as the eurozone crisis impacted its markets. The historic motorcycle manufacturer had established itself as an industrial success story. competing against giant multinational rivals such as BMW and Honda.
THE WALL STREET JOURNAL
Pain-Pill Probe Targets FedEx, UPS
The US is targeting America's two biggest shipping companies, FedEx Inc. and United Parcel Service Inc., as part of an expanding crackdown against illegal sales of prescription painkillers.
Gap Profit Rises 60 per cent
Gap’s s fiscal third-quarter profit jumped 60 per cent as the retailer posted growing same-store sales in North America and stronger margins. Shares rose 3.9 per cent after hours to $34.60.