Argentina threatens banks linked to Falklands oil firms April 1, 2012 ARGENTINA has threatened legal action against banks linked to oil explorers in the Falklands, on the eve of the 30th anniversary of its war with Britain over the islands. Just weeks after Buenos Aires ramped up its objections to British firms in the region, its embassy has sent letters in Spanish to 15 banks warning [...]
UK’s over-taxed public is running out of patience April 1, 2012 EXORBITANT: that is the only way to describe the cripplingly high levels of Air Passenger Duty (APD) now facing everybody flying from the UK. The era of cheap flights which had done so much to make international travel accessible to the vast majority of the public is coming to a sorry end: the tax on [...]
Government to allow real-time internet spying April 1, 2012 PRIVACY campaigners yesterday reacted angrily to government plans to allow security services to monitor email exchanges and website visits in the UK. Legislation expected in next month’s Queen’s Speech is set to allow GCHQ to examine “on demand” any phone call made, text message and email sent and website accessed. Nick Pickles, director of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 1, 2012 FINANCIAL TIMES BSkyB begins board overhaul Two key independent directors at BSkyB are set to leave as the pay-TV company embarks on an overhaul of its board that could weaken its unanimous backing of James Murdoch as chairman. Dame Gail Rebuck, chief executive of Random House, the publisher, and Lord Wilson of Dinton, former cabinet [...]
Trade bodies slam Indian tax law April 1, 2012 The CBI and other industry bodies have written to Manmohan Singh, the prime minister of India, “to express deep concerns” about the tax provisions proposed in the Finance Bill 2012. The new laws would introduce a retrospective tax on overseas deals in India over the last 50 years and reverse the judgment of several cases, [...]
Kurdistan halts oil exports April 1, 2012 Iraq’s autonomous Kurdistan region halted oil exports yesterday, accusing the central government in Baghdad of failing to make payments to companies working there in the latest clash in their long-running dispute over oil rights. The row heightens tensions in a broader dispute between Iraqi Arabs and ethnic Kurds over contested land, political autonomy and oil [...]
Game rescued by OpCapita deal April 1, 2012 CRISIS-HIT retailer Game, which went into administration last week, was yesterday rescued by investment firm OpCapita, in a deal which will safeguard nearly 3,200 jobs. The turnaround specialist, which earlier this year acquired British electrical chain Comet from Kesa, has bought Game’s UK assets including all 333 remaining stores, administrators PwC said in a statement [...]
John Buchanan quits Vodafone but denies row April 1, 2012 SIR John Buchanan is preparing to step down from the board of Vodafone where he has served as deputy chairman since July 2006. Sir John, who is also chair of medical devices business Smith and Nephew, will replace Doug Dunn as chairman of Cambridge-based chip maker ARM Holdings on 3 May. He has sat on [...]
Just two left in bidding war for BAA’s Edinburgh Airport April 1, 2012 THE field of bidders for Edinburgh Airport has narrowed to a straight fight between a group of investors led by JP Morgan and Global Infrastructure Partners (GIP). Their private equity rivals for the asset, 3i and Carlyle, are said to have pulled out of what is expected to be a £500m race for the Scottish [...]
Vue looks good as cinema firm set to expand April 1, 2012 VUE, the private equity-backed cinema chain, is set to ramp up its expansion plans as Britons spend more on affordable luxuries in the economic downturn. The chain, bought by Doughty Hanson in a £450m deal nearly 18 months ago, will open two sites this year and two next year as part of a development pipeline [...]
