Greek bet pays off for hedge fund
One of the world’s most prominent hedge funds is sitting on a $500m (£308m) profit after making a bet that Greece would not be forced to leave the Eurozone, bucking the trend in a difficult year for the industry.
Third Point, headed by the billionaire US investor Dan Loeb, tendered the majority of a $1bn position in Greek government bonds, built up only months earlier, as part of a landmark debt buyback deal by Athens on Monday, according to people familiar with the firm.
FTC puts data brokers in spotlight
US regulators are launching an investigation into how data companies track, sell and use information about consumers, shining a bright spotlight on a multibillion-dollar industry that until recently has operated in the shadows.
Instagram sparks privacy backlash
Barclays supports Madrid clean up
Barclays, Deutsche Bank and AXA were among 14 banks that became stakeholders in Spain’s “bad bank” yesterday, enabling its government to keep the debts off its books.
Banks “need to up game” on loans
Ministers have expressed disappointment at the failure of Lloyds, Barclays and Royal Bank of Scotland to use the government’s loan guarantee scheme to help small and medium-sized businessess.
The Daily Telegraph
Mitchell releases pleb row CCTV
Andrew Mitchell, the disgraced former cabinet minister, has taken the unprecedented step of releasing Downing Street CCTV footage in an attempt to “clear his name”.
Google: “We are not the bogeyman”
Google’s UK policy chief has told MPs that the web search giant is not “the bogeyman” of the internet, as the embattled technology giant fought to restore its reputation.
THE WALL STREET JOURNAL
Boehner weighs “cliff” backup plan
Republican House speaker John Boehner advanced a backup plan to avoid the so-called fiscal cliff, a strategy for averting a year-end tax increase if his negotiations with Barack Obama break down.
Nielsen to buy Arbitron for $1.26bn
TV ratings firm Nielsen Holdings said it will spend about $1.26bn (£775m) in cash to acquire radio data provider Arbitron, expanding the dominant company’s footprint into another medium.