What the other papers say this morning – 13 March 2014 March 12, 2014 FINANCIAL TIMES HS2 chairman finds £1.5bn savings The new head of HS2 has identified at least £1.5bn in potential cost savings in London alone from the project’s £50bn budget but will warn MPs that the best way to save money on the line is to build it faster than planned. Sir David Higgins took over [...]
What the other papers say this morning – 10 March 2014 March 10, 2014 FINANCIAL TIMES Spotify’s credit line hints at IPO Spotify has secured a $200m credit facility from lenders including Morgan Stanley, bringing the Swedish music company a step closer to a potential initial public offering in the US, according to people close to the deal. The Stockholm start-up, which last year sold equity that implied a [...]
Exclusive: German Grand Prix could vanish from F1 calendar, says Ecclestone March 5, 2014 FORMULA One boss Bernie Ecclestone has warned that the future of the German Grand Prix is in doubt after he failed with a $50m (£30m) bid for the historic Nurburgring. The track, which alternates with Hockenheim as the race’s venue, has been up for sale since May after a $370m redevelopment, including mall, hotel and [...]
Exclusive: German Grand Prix could vanish from F1 calendar, says Ecclestone March 4, 2014 FORMULA One boss Bernie Ecclestone has warned that the future of the German Grand Prix is in doubt after he failed with a $50m (£30m) bid for the historic Nurburgring. The track, which alternates with Hockenheim as the race’s venue, has been up for sale since May after a $370m redevelopment, including mall, hotel and [...]
New Vatican financial overseers February 24, 2014 Pope Francis has announced sweeping changes to the Vatican’s bureaucracy, including a new secretariat for the economy to supervise financial affairs. Australian Cardinal George Pell has been named prefect of the new economics secretariat. He will report to a new 15-member economy council made up of eight cardinals reflecting various parts of the world and [...]
Nigerian central bank governor suspended four months before term ends February 20, 2014 The President of Nigeria Goodluck Jonathan has suspended the governor of the country's central bank Lamido Sanusi. Sanusi, who was due to end his term in June, alleged in the Financial Times last week that the massive shortfall in Nigeria's crude oil earnings were due to gross mismanagement of the country's oil wealth. Earlier this [...]
Indecisive Europe is acting too late to save Ukraine from Kremlin discipline February 19, 2014 LIKE a slow-motion car wreck, the tragic violence that has erupted in Ukraine over the last few days – which some fear could result in bloody civil war – has been inexorably coming for some time. In November 2013, the country’s President Viktor Yanukovych abruptly broke off talks with the EU over a political and [...]
Gold demand fell 15pc in 2013 on US recovery February 18, 2014 OVERALL gold demand slid by 15 per cent in 2013, despite 21 per cent growth in demand from consumers, according to a new report by the World Gold Council yesterday. Interest from the retail market was offset by large-scale outflows from exchange traded funds (ETFs) as confidence in the US economy improved, the report said. [...]
What the other papers say this morning – 12 February 2014 February 11, 2014 FINANCIAL TIMES Planners seek cash for fast ruling Westminster Council has sought permission from the Treasury to accept cash payments from property developers to speed up their planning applications and resolve backlogs in what could become a template across London. In a joint letter to George Osborne the leader of Westminster council, deputy London mayor [...]
Retiring Lloyds chairman to join the Financial Reporting Council January 23, 2014 THE OUTGOING chairman of Lloyds Banking Group has been picked to chair the Financial Reporting Council (FRC), the accounting regulator said yesterday. Sir Win Bischoff, who retires from Lloyds in April, will replace Baroness Hogg at the FRC on 1 May. He was chosen for the job after an eight-month search for Hogg’s replacement, conducted [...]