What the other papers say this morning – 12 February 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 and several prominent developers have asked for property companies to be able to pay higher application fees to subsidise council planning departments, in exchange for fast-track decisions. Westminster Council wants to start a pilot scheme for office, retail and residential applications in the West End.
Charter nominates new directors
Charter Communications has upped the ante in its bid to consolidate the US’s fragmented pay-television market, nominating a fresh board of directors for its larger rival Time Warner Cable.
Charter announced yesterday morning a list including eight current or former chief executives, three former Wall Street lawyers and an ex-chief technology officer from TWC.
OECD admits to forecasting errors
The OECD has admitted that its repeatedly false assumption that governments would take effective steps to ease the Eurozone crisis was to blame for the international organisation’s overly optimistic forecasts, not the impact of austerity.
THE TIMES
Dunelm tests water before move
A homewares retailer that has not left Britain since being set up on a market stall in the 1970s is looking abroad to secure its growth.
Dunelm has 131 out-of-town stores, but yesterday it said that it did not expect its domestic estate to exceed 200 sites. “International is an opportunity for us,” Nick Wharton, the chief executive, said yesterday.
Harrods owner wants to go worldwide
The Qatari owner of Harrods is edging closer to taking the brand worldwide through upmarket hotels bearing the name, nearly four years after the London store was bought.
The Daily Telegraph
Israeli tech start-ups join IPO wave
Britain’s equity market is becoming a magnet for Israel-based technology companies which are considering choosing London rather than the Tel Aviv stock exchange this year for flotations. Digital advertising company Matomy is understood to be working with Rothschild, UBS and Bank of America Merrill Lynch on launching an initial public offering before the summer.
Gold price rise mystery in China
Gold hit a three-month high yesterday, defying expectations, a day after a report revealed 500-tonnes of bullion is missing somewhere in China.
THE WALL STREET JOURNAL
TomTom struggles to chart new path
TomTom, the small Dutch company which helped put satellite-navigation technology on the consumer-gadget map, warned yesterday that sales and profit will decline this year after another weak quarter.
Michelin eager to resume Iran trade
Michelin is eager to resume exporting its car and truck tires to Iran once international sanctions on trading with the country are lifted and is keeping a watchful eye on competitors that might try to get a head start by bending the rules. It recently visited the country to scope out future deals.