Qatar lined up for £10bn UK fund
Qatar has begun talks with the UK government to invest up to £10bn from the gas-rich Middle Eastern state into key infrastructure projects in Britain. Officials and ministers from both countries have held discussions over what schemes the Qataris could invest in and whether a specific fund could be set up. The potential projects include energy plants, road and rail projects and even the Thames “super-sewer” under London.
Qatar has become a prolific investor in British assets in recent years.
Ermotti is best paid banker at UBS
Sergio Ermotti was the highest earner at UBS last year with a pay package that is expected to be more than SFr8m (£5.6m), making him one of the highest bank chief executives in Europe.
Big banks fail to capture Asia growth
Global corporate and investment banks are mostly failing to turn Asia’s high growth rates into growing revenues and profits from the region. Asian economic growth has averaged five to six per cent over the past three years but the declines in revenues and profits have been stark.
Vodafone to end its F1 deal
Vodafone has pulled the plug on its long-running sponsorship of the Formula One team McLaren, worth $75m a year, on the back of violence surrounding last year’s Bahrain Grand Prix.
Queen’s Master of Horse sold meat
A business owned by the family of Lord Vestey, the Queen’s Master of Horse, supplied minced beef containing one per cent horsemeat to Sodexo, the world’s biggest catering company.
The Daily Telegraph
FTSE 100 may hit 7,200 in next year
Goldman Sachs strategists have suggested the FTSE 100 could soon reach an all-time high. Driven by the weaker pound and expectations of further easing from the Bank of England, the index will hit 7,200 in the next 12 months, they forecast.
RBS launches Visa-based app
RBS and NatWest customers who download a new app will be able to send up to £100 to anyone with a Visa card by entering the recipient’s mobile number.
THE WALL STREET JOURNAL
Amazon cuts price of Kindle Fire HD
Amazon pared the US price of its large-screen Kindle Fire HD tablets by as much as 20 per cent, undercutting rival Apple’s iPad. The Seattle-based Web retailer said the 8.9-inch Kindle Fire HD with 4G wireless capability will start at $399 (£267), down from $499.
Putin Calls for Tougher Pupils
President Vladimir Putin yesterday called for the revival of a Soviet-era physical education program that whipped children into shape for sportsmanship and defense of the socialist empire.