What the other papers say this morning – 29 April 2014 April 28, 2014 FINANCIAL TIMES Gold rivals row as merger talks end Merger talks between Barrick Gold and Newmont Mining have collapsed amid sharp criticism from each of the other’s attitude to attempts to combine the world’s two largest producers by output. The mutual recriminations surfaced after the end of advanced discussions that would have reshaped the gold [...]
HS2 on track with MPs’ vote April 28, 2014 CONSERVATIVE rebels against the planned High Speed 2 (HS2) railway route were crushed in a parliamentary vote last night. The government has Labour’s backing for the £42.6bn project and won the vote by 452 MPs to 41. “London and the South East are increasingly full…while cities in the north want to grow,” said transport secretary [...]
Finance chips in to output April 28, 2014 LONDON’S finance workers generate over £100,000 each in yearly output and make up nearly a quarter of the city’s economy, new stats show. The average London employee in finance and related professional services generates £111,584 in value added, nearly £20,000 more than typical workers in the industry around the UK, according to research by TheCityUK. [...]
US unveils fresh sanctions wave on Moscow elite April 28, 2014 A FRESH round of sanctions on figures close to the Russian regime was announced by the American government yesterday. The list of people sanctioned included Igor Sechin, president and chairman of the board of Rosneft, an oil firm in which the Russian government is a majority shareholder and BP holds a 20 per cent stake. [...]
Cenkos set for bumper payday from the AA’s float ambition April 28, 2014 A GROUP of 10 institutional investors have been brought together by Cenkos, the mid-tier broker and investment house, to support an imminent flotation of AA, the road assistance firm, in another major share issue for the London market. The deal, which could be revealed as early as this week, City A.M. understands, would be a [...]
Deutsche issues bonds as forex chief retires April 28, 2014 DEUTSCHE Bank hopes to raise €5bn in a series of convertible bond (coco) issues over the coming 18 months, the bank announced yesterday. The bonds are unusual as they will suspend payments to investors if the bank’s core capital ratio falls below a trigger level of 5.125 per cent. If the bank’s buffer later recovers [...]
Former Barclays traders charged in Libor probe April 28, 2014 THREE more former Barclays traders were yesterday charged by the Serious Fraud Office over their alleged involvement in attempts to manipulate Libor. Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich are accused of conspiracy to defraud and will appear at Westminster Magistrates’ Court in the coming weeks. The staff were all based in the [...]
Tube strike disruption starts this morning after talks with union failed April 28, 2014 LONDONERS are this morning facing the first full day of disruption on the Tube, following the RMT union’s decision to strike for 48 hours. London Underground workers began walkouts at 9pm last night, and Transport for London said services will not get back to normal until Thursday morning. A second wave of strike action is [...]
Banks battle to share bumper $240m deal fee April 28, 2014 CITY investment banks are squaring up for a share of the tie-up of AstraZeneca and Pfizer, in what could be the second biggest payday for advisers since the financial crisis. The cream of Square Mile and Wall Street will tussle in the coming weeks, with the seven banks working on the potential deal sharing $200m [...]
Bottom Line: No more games, but target will be hard to get April 28, 2014 AFTER four months of messing around behind closed doors, Pfizer’s flirtation with its UK target is now well and truly out in the open. We now know exactly what the US giant wants from the deal (tax breaks that come with a UK domicile) and what AstraZeneca is looking for to make it happen (more [...]
