WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2010 FINANCIAL TIMES PRINCE ANDREW’S TRADE ROLE DEFENDED Buckingham Palace defended Prince Andrew’s globetrotting role promoting British business on Sunday after a newspaper sting appeared to show his former wife selling access to him for £500,000, offered by a reporter posing as a tycoon. Both the royal household and the government said the Duke of York’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
BEST OF THE BROKERS May 20, 2010 BAYER Citigroup reiterates its “buy” rating on Bayer. It says that although some risk-aversion in the run up to the release of Xarelto data is likely to remain a feature of the share price performance, it remains positive on this asset and on the stock and believes the current valuation provides an attractive long-term buying [...]
THE TIPSTER May 19, 2010 THE airline that once billed itself as the world’s favourite is set to report fourth quarter results on Friday, but it has hardly been an upbeat few months for British Airways. Although these profit figures will not include the disruption caused by the volcano in Iceland, the carrier has been mired in an industrial dispute [...]
Market abuse trader turns up at XCAP May 18, 2010 A CITY trader who was fined for market abuse by the regulator six years ago has returned with the launch of a new investment bank. Chris Potts was head of market making at Evolution Securities when he was slapped with a £75,000 penalty by the Financial Services Authority in 2004. The charge, meted out for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 17, 2010 FINANCIAL TIMES FERROUS STEELS ITSELF FOR LONDON FLOAT Ferrous Resources, the Brazilian iron ore miner, confirmed its intention to list in London next month, adding momentum to a new round of mining and energy flotations in the capital of resources finance. With an expected valuation of about $4bn (£2.8bn), Ferrous could be the biggest “pure-play” [...]
Brussels is about to clobber the City May 16, 2010 HOW absurd. A successful British industry, one which even banker-bashers admit wasn’t responsible for the financial crisis, will this week be hammered by the European Union, marking the new government’s first foreign policy defeat and the latest blow to London’s prosperity. I’m of course referring to the EU’s attack on alternative investment managers, including hedge [...]
London sales are slowed by volcanic ash May 16, 2010 RETAIL sales growth in London has slowed after the ash cloud crisis took its toll, according to the British Retail Consortium. Sales were up 3.6 per cent in April while they had jumped by 5.1 per cent in the same month last year. The volcanic ash cloud which billowed across Europe grounded flights for six [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 12, 2010 FINANCIAL TIMES INDIAN TELECOMS GROUPS HIT OUT AT CHARGES Telecoms companies in India have raised alarm over a threat of retrospective charges for users of mobile spectrum that analysts warn could cost them hundreds of millions of dollars. The move by the Indian telecoms regulator has provoked interest from Bharti Airtel and Vodafone Essar. MICROSOFT [...]