WHAT THE OTHER PAPERS SAY THIS MORNING February 21, 2011 FINANCIAL TIMES MOD TO SHAME LAX CONTRACTORS Liam Fox is to name and shame defence companies that fail to deliver military projects to the government on time, in a radical attempt to re-establish control over the department’s heavily overspent procurement budget. As the defence secretary wrestles with the consequences of slack spending on equipment programmes [...]
Singapore looks for boost in China February 21, 2011 Singapore’s state investment company Temasek Holdings has appointed a new head for its China operation, as it moves to boost its presence in the country. Ding Wei, an investment-banking chief at Chinese lender China International Capital, will help Temasek to become a “long term active” investor in successful firms in the country. He said: “[Temasek] [...]
US bank could face law suit February 21, 2011 Letters have been sent to executives at the failed Washington Mutual Bank warning of legal actions and potential damages of over $1bn (£616.3m). The letters, sent by the Federal Deposit Insurance Corporation, are intended to encourage the executives to reach a settlement under directors’ and officers’ liability insurance. They are seen as a precursor to [...]
Spotify stake values firm at over $1bn February 21, 2011 DIGITAL Sky Technologies (DST) is understood to be close to finalising a $100m (£61.7m) investment in Spotify that would value the music streaming site at $1bn. DST already owns a stake of up to 10 per cent in Facebook and invested in the $180m fund-raising for Farmville-maker Zynga. If DST went ahead with the move, [...]
Elisabeth Murdoch sells TV production firm to her father February 21, 2011 THE DAUGHTER of media mogul Rupert Murdoch has agreed to sell the television production company she founded to her father for £415m. Elisabeth Murdoch will sell Shine Group, which makes programmes such as MasterChef and the Wright Stuff, to News Corp. She stands to pocket £200m from the deal, as well as gain a place [...]
Goldman may buy back stock February 21, 2011 GOLDMAN Sachs investors may be in line for a capital return as it uses excess profits, analysts said yesterday. The cash-rich US investment bank already has enough capital to meet its 2013 Basel III threshold as well as buy back $5bn (£3.08bn) in preferred stock held by Warren Buffett’s Berkshire Hathaway fund. Goldman should have [...]
Fund managers sweep for bugs February 21, 2011 HEDGE fund managers have turned to private security firms to shore up their offices and homes amid fears bugs could have revealed insider-trading practices, according to reports. The development comes after federal prosecutors in New York filed criminal charges against more than 40 traders over alleged shared information about company information. Many firms have sought [...]
EU rules may be death of free mobiles February 21, 2011 SMARTPHONES with no up-front payment could become a thing of the past, with the EU poised to ban contracts that tie users in for long periods. The number of people locked into two or three year contracts has rocketed as retailers try to claw back money spent on subsidising high-end handsets. According to a new [...]
Apple shareholders will call for clear plan to succeed Jobs February 21, 2011 APPLE will face a grilling from shareholders over who will eventually replace Steve Jobs after speculation over the talismanic boss’ health has hit new highs. Shareholders from the influential Central Laborers’ Pension Fund will raise the question at the Cupertino-based firm’s annual meeting tomorrow after one US report suggested Jobs has just six weeks to [...]
CITY VIEWS: SHOULD LONG MOBILE PHONE CONTRACTS BE REGULATED? February 21, 2011 Save or Borrow peer to peer at RateSetter.com www.RateSetter.com Customer Phoneline: 08442490115 DAVID BARKER | BNP PARIBAS “If people are mad enough to sign up for them, then it’s their problem really.” JOHN SIMPSON | INSURANCE CONSULTANT “Phone contracts can be difficult to get out of – I had real problems last time.” ADAM VULLIAMY [...]
