Moody’s faces curbs on Buffett links
Moody’s faces a ban on rating products issued by Warren Buffett’s Berkshire Hathaway in an EU clampdown on alleged conflicts of interest at credit rating agencies. Last night the European parliament and EU member states agreed a draft plan to impose limited curbs on the sector that restrict when agencies can rate sovereign debt and give investors clearer grounds to sue for gross negligence. While the industry is uneasy about the reforms, the text is far weaker than the original proposal
Coalition faces split over Leveson
David Cameron, the Conservative prime minister and Nick Clegg, his Liberal Democrat deputy, have been preparing to make separate statements about the Leveson report on journalistic ethics, due out tomorrow.
EU rejects broadband delay charge
Brussels has rejected claims that “stifling EU bureaucracy” was to blame for delays to the rollout of superfast broadband to Britain’s regions in an unusual public rebuke of Maria Miller, the UK culture secretary.
Close ticket offices to save millions
Rail bosses are urging the government to scrap regulations that prevent them from closing ticket offices, saying a programme of closures could save the industry hundreds of millions of pounds a year.
Starbucks targets tea in China
Starbucks, the Seattle-based coffee chain, aims to open 800 new shops in China by 2015 – roughly one a day – taking its network to 1,500 stores across 70 cities from Chongqing to Chengdu.
The Daily Telegraph
Entwistle said payoff wasn’t enough
George Entwistle, the former director-general, asked the BBC for more money when he was offered a £450,000 payoff despite having only spent 54 days in the job, Lord Patten has said.
NHS must be fastest not slowest
The government must drive an overhaul of the NHS and its approach to innovative medicines for the UK to become a global research and development centre, leading scientists have warned.
THE WALL STREET JOURNAL
Dividends early to avoid fiscal cliff
More US companies are racing to get ahead of the looming fiscal cliff. Faced with a possible tax increase on dividends next year, boards are approving bigger payouts faster.
Google campaigns on German law
Google has begun a campaign against a German copyright bill that could force search engines to pay for linking to news articles, a move the company said could hobble basic internet functions.