G4S set to win child benefit role
G4S, the company at the centre of the Olympics security fiasco, is set to win a role in implementing the government’s contentious and complex changes to child benefit and the universal credit. The FTSE 100 group is among six companies selected to run call centres that will deal with queries on the most far reaching change to welfare benefits for the low-paid and unemployed for decades. The contracts – to be announced in February – are worth a total of £150m over four years.
Dozens implicated in UBS Libor deal
About three dozen bankers and senior managers will be implicated in the alleged rigging of Libor interest rates when UBS settles with global regulators later this week, according to people familiar with the matter.
Tesco edges closer to naming UK boss
Tesco is moving closer to appointing a UK chief executive, with Chris Bush, chief operating officer, emerging as the front-runner for the role. An announcement could be made within the next few months, said people familiar with the situation.
O2 hangs up on Vodafone for BT
O2 is set to sign a new long-term deal to buy network capacity from BT in the new year. BT beat off competition from Vodafone, after the mobile company paid £1bn for Cable & Wireless worldwide earlier in the year.
Vince Cable plans copyright tour bus
The government’s action plan to combat file-sharing has taken a strange twist with plans to send a tour bus to fun fairs to teach youngsters about copyright.
The Daily Telegraph
Mark Carney cleared on rules breach
Mark Carney, the future governor of the Bank of England, has been accused of breaching rules of political impartiality at the Bank of Canada. The governor of the Bank of Canada was referred to his internal general counsel after details emerged of a family holiday at the home of Liberal MP, Scott Brison. The reports had claimed Carney had discussed joining the opposition party, but on Monday, Bank of Canada spokesman Jeremy Harrison said the general counsel had cleared him of wrong-doing.
THE WALL STREET JOURNAL
GE close to buying Avio for €3bn
General Electric is on the verge of finalizing a deal to buy Italian aerospace group Avio for as much as €3bn (£2.44bn), according to people familiar with the negotiations.
Clearwire accepts $2bn Sprint offer
Sprint agreed to acquire the half of Clearwire it doesn’t already own, in a deal worth $2.2bn (£1.36bn), moving to consolidate a longtime partner that is key to the cellphone carrier’s strategy.