WHAT THE OTHER PAPERS SAY THIS MORNING February 12, 2012 FINANCIAL TIMES CHINA TELLS BANKS TO ROLL OVER LOANS China has instructed its banks to embark on a mammoth roll-over of loans to local governments, delaying the country’s reckoning with debts that have clouded its economic prospects. China’s stimulus response to the global financial crisis saddled its provinces and cities with Rmb10.7tn (£1.08tn) in debts [...]
Japan’s economy weakening February 12, 2012 Japan’s economy shrank 0.6 per cent in October-December from the previous quarter as a global economic slowdown, Thai floods and a strong yen dealt a blow to the economy just as it was emerging from a recession caused by last year’s devastating earthquake. The decline was bigger than economists’ median forecast for a 0.3 per [...]
Ireland keen to reduce its costs February 12, 2012 Ireland stands a good chance of persuading Europe to reduce the cost of its bank rescue through refinancing some €30bn (£25bn) worth of IOUs pumped into the former Anglo Irish Bank, the lender’s chairman Alan Dukes said yesterday. Dublin has been pursuing a months-long campaign to win approval to amend the terms of its €63bn [...]
Sainsbury’s calls for high street reform February 12, 2012 SAINSBURY’S chief executive Justin King will this week urge the UK to be “brave enough” to shrink its ailing high streets and convert empty stores into houses or even classrooms. King will call for a greater mix between “retail and other activities” to help make high streets “not just a poor second to out of [...]
Tributes pour in after Whitney Houston dies in LA hotel room February 12, 2012 ARTISTS attending the 54th Grammy awards in Los Angeles last night paid tribute to Whitney Houston, after the singer was found dead in an LA hotel on the eve of the ceremony. Houston, a six-time Grammy winner, was pronounced dead late on Saturday at the Beverley Hilton Hotel. She had been due to attend a [...]
The Sun is safe, says Murdoch February 12, 2012 NEWSPAPER tycoon Rupert Murdoch will touch down in London later this week amid turmoil sparked by five arrests at his group’s daily tabloid newspaper, the Sun. News Corp insists this is a long-planned visit as part of Murdoch’s regular sojourns around his businesses. But his arrival will trigger memories of another visit in July when [...]
Punch broker set to settle with the FSA February 12, 2012 ANDREW Osborne, the corporate broker at the centre of the Greenlight Capital insider dealing case, has reluctantly decided he will not fight a £350,000 fine meted out by the Financial Services Authority (FSA) for his role in the affair. Osborne (pictured), whose clients at Bank of America Merrill Lynch included Tullow Oil, Cairn Energy, the [...]
Maine win for Romney signals key comeback February 12, 2012 REPUBLICAN presidential front-runner Mitt Romney grabbed back some momentum after midweek losses in three states, scoring a narrow win in Maine’s caucuses over the weekend, hours after winning a straw poll of Republican conservative activists. Results of Maine’s non-binding straw poll showed the former Massachusetts governor with 39 per cent support, or 2,190 votes, ahead [...]
GLASENBERG GOES ON TOUR February 12, 2012 GLENCORE chief executive Ivan Glasenberg is said to be preparing to join the roadshow to persuade investors to back the planned merger of Glencore with rival miner Xstrata. Glasenberg’s intervention could be necessary to get the deal through after a fifth major shareholder came out against the tie-up on Friday on the grounds that the [...]
Rothschild rivals look for end to board row February 12, 2012 NAT Rothschild could escape defenestration from the board of a company he brought to London this week, after his Indonesian business partners sounded a more conciliatory note following a week of meetings in London. The Jakarta-based shareholders of Bumi plc, the FTSE 250 miner, have been trying to get Rothschild voted out as co-chairman of [...]
