WHAT THE OTHER PAPERS SAY THIS MORNING October 8, 2009 FINANCIAL TIMESCME HEAD BACKS DERIVATIVES REFORMA powerful exchange chief has brushed aside concerns in the US and Europe over the regulation of over-the-counter derivatives, in comments likely to bolster support for the proposed reforms. Regulators on both sides of the Atlantic are insisting that most OTC derivatives be shifted onto formal exchanges and processed through [...]
BT extends fast broadband plan October 8, 2009 British Telecom is more than doubling its ultra-fast broadband network, taking it to at least 2.5m homes by 2012, instead of the 1m homes originally planned. The network will offer download speeds of up to 100 megabits per second, compared to the current UK average of 4.1mbps.
LXB raising 100m for retail buy October 8, 2009 LXB Properties is preparing to raise around £100m on the public market to buy and develop retail assets in the UK. LXB, the retail property company run by well-known fund manager Tim Walton, is expected to float on Aim. The move is expected to take advantage of low prices for out-of-town retail parks.
Obama confident in Geithner October 8, 2009 US President Barack Obama has “tremendous confidence” in Treasury secretary Timothy Geithner and the job he is doing, spokesman Robert Gibbs said yesterday. Gibbs had been questioned over the repeated appearance of bankers on Obama’s meeting schedule, and whether the President was losing faith in Geithner’s ability.
Lloyds, RBS to be scrutinised over lending October 8, 2009 LLOYDS BANKING GROUP and Royal Bank of Scotland are being scrutinised by the government, which suspects the taxpayer-owned banks of pricing their loans to small and medium businesses at artificially high levels, resulting in them missing lending targets. Both banks, which turned to the government for help in the downturn, have between them agreed to [...]
IBM in US probe over claims it unfairly abused dominance October 8, 2009 IBM, the computer hardware giant, is facing a US Department of Justice (DoJ) investigation over allegations it abused its dominance of the mainframe market to squeeze out its rivals. The anti-competition probe was announced yesterday by Ed Black, chairman of the Computer and Communications Industry Association (CCIA), which had urged the DoJ to step in. [...]
Mandelson snubs Magna bid October 8, 2009 Business secretary Lord Mandelson has refused to back Magna’s bid for Vauxhall and Opel in its current form, after bringing in PricewaterhouseCoopers to go over the plans. PwC were brought in to review Magna’s bid separately from Germany, as concerns on UK jobs grew. If the UK doesn’t back the bid, Opel will miss out [...]
Shell to build giant gas ship October 8, 2009 Oil giant Royal Dutch Shell said yesterday it was planning to deploy the world’s first floating liquefied-natural-gas (LNG) facility. The landmark project, which is set to be the world’s biggest vessel, will be placed off the coast of northwestern Australia. Other super-majors, who have also been floating the idea of a floating station, will monitor [...]
M&S clothing slips into third place October 8, 2009 Marks & Spencer has fallen into third place among Britain’s fashion retailers in terms of volume of clothes sold, trailing behind George at Asda and Primark, according toTNSFashion Trak. M&S fashion sales have suffered as consumers switched to cheaper rivals during the recession.
Go-ahead for Wharf tower October 8, 2009 LONDON Mayor Boris Johnson yesterday used his new planning powers to overturn a local council decision and approve a Docklands skyscraper. The Columbus Tower, developed by Commercial Estates, will stretch 63 storeys – making it bigger than Canary Wharf’s iconic Canada One tower, and even the Heron Tower and the Pinnacle, buildings currently under construction. [...]