What the other papers say this morning August 29, 2012 FINANCIAL TIMES Google Plus adds new features Google is expanding its social networking service further into the corporate world to take on the likes of Microsoft’s Yammer and Salesforce.com’s Chatter. The search company launched Google Plus in June last year but did not originally allow business customers of its Google Apps products, such as Gmail [...]
Barclays faces SFO probe over Qatar payments August 29, 2012 THE SERIOUS Fraud Office (SFO) is investigating payments between Qatar and Barclays, the bank confirmed yesterday. Barclays said it is complying with the fraud squad’s probe, which is in its early stages. The SFO investigation is separate to the Financial Services Authority’s (FSA) inquiry that began in July, which relates to fees paid to the [...]
Ryanair bid for Aer Lingus stalls as Europe opens antitrust probe August 29, 2012 THE EUROPEAN Commission has put the brakes on Ryanair’s latest takeover bid for Aer Lingus by opening an in-depth competition probe. The investigation means Ryanair’s €694m (£549.5m) offer for its Irish rival lapses, though the airline said it plans to make a new bid for Aer Lingus if it gets clearance from Brussels. The Commission, [...]
US economy in slow recovery, report reveals August 29, 2012 THE US economy is slowly but steadily recovering, a tranche of releases from official bodies and industry groups said yesterday. Retail and car sales were driving a gradually growing economy, the Federal Reserve said in its Beige Book report of anecdotal evidence, but they also warned of a slowdown in manufacturing expansion. And the US [...]
Spain promises plan for a bad bank is on track August 29, 2012 SPAIN is not negotiating further austerity measures with Brussels as part of talks over possible European Central Bank (ECB) intervention to bring down the struggling state’s borrowing costs, its economy minister said yesterday. Luis de Guindos also insisted that Spanish and EU authorities are in agreement over plans for a bad bank to hold toxic [...]
Greek politicians near austerity agreement to appease lenders August 29, 2012 GREEK political leaders are close to thrashing out an austerity package as demanded by the country’s lenders, but have yet to decide on how to soften its impact on low-wage earners and pensioners, government officials and party leaders said yesterday. Greece is under pressure to drum up the nearly €12bn (£9.5bn) in cuts for the [...]
Bankia losses set to spiral as housing market falls further August 29, 2012 TROUBLED Spanish lender Bankia is set to report enormous losses in the first half of the year, analysts warned yesterday ahead of its financial results, due to be released on Friday. It was nationalised in May after asking for €19bn (£15bn) of state aid, when it was revealed the bank had lost €2.98bn in 2011 [...]
Hollande fast-tracks jobs subsidy plan August 29, 2012 FRANCOIS Hollande’s Socialist government is expediting the launch of its plan to subsidise 150,000 jobs for poorly-qualified youths in city suburbs and rural areas. The scheme, which is budgeted for around €2bn, is intended to tackle rampant youth unemployment and shore up approval ratings, which have slipped recently.
MPs push for answers over West Coast rail August 29, 2012 POLITICIANS are pushing to meet with rail operator FirstGroup to discuss concerns about the expected handover of the West Coast Main Line. As the Department for Transport’s (DfT) lawyers pore over the court proceedings filed this week by losing bidder Virgin, MPs based near the West Coast route have been inundated by questions from constituents, [...]
H&M to step up expansion with its first store in South America August 29, 2012 SWEDISH clothing giant H&M said yesterday it will make its first foray into South America by opening a store in Chile, as it continues its rapid expansion into new markets. The world’s second largest clothing chain plans to open a flagship store in the first half of 2013 in the shopping centre Costanera Centre in [...]
