What the other papers say this morning – 21 February 2014
FINANCIAL TIMES
Business Wire halts high speed traders
Business Wire, which has published corporate news releases in the US for the last half century, will stop selling direct feeds to high-speed traders, amid concerns that the practice gives the firms an unfair advantage over other investors. Warren Buffett, whose conglomerate Berkshire Hathaway owns Business Wire, stepped in personally to examine the direct sales, fearing that recent publicity around the practice could hurt the company’s reputation.
Boots to stock Imperial’s e-cigarette
Boots, the high street chemist, will start stocking an e-cigarette made by Imperial Tobacco’s subsidiary Fontem Ventures as big tobacco companies start to tighten their grip on the fastgrowing product category, now worth $3bn (£1.8bn) globally. The decision is made in the same week that British American Tobacco launched a television advertising campaign for its e-cigarette Vype – the first time that a product made by a tobacco company has been advertised on UK television in two decades.
Peltz continues Pepsi break-up case
Nelson Peltz will take his campaign to split PepsiCo directly to fellow investors, less than a week after the US drinks and snacks company maintained that it would keep the businesses under one roof.
THE TIMES
Asda to roll out pick-up points
One of Britain’s biggest supermarkets is planning to plant click and collect points in a thousand locations over the next five years, leaving behind grocers who deliver only to households. Asda, which allows customers to order online and pick up their goods at six London Underground station car parks, has amassed 300 pick-up points, mostly in-store.
JP Morgan caught in Madoff suit
JP Morgan Chase is being sued by two of its shareholders who are seeking redress for the bank’s failure to detect Bernard Madoff’s massive Ponzi scheme.
The Daily Telegraph
Groupon falls on profit warning
Shares in Groupon slumped in after-hours trading after the online discounts giant warned that its recent shopping spree would take a sizable bite out of profits. The business said its performance had improved dramatically in the fourth quarter of 2013, as revenues jumped by a fifth to $768.4m (£461.3m) and profits doubled to $72m.
Standard Life warns of Scot yes vote
Standard Life is poised to warn that Scottish independence poses a significant risk to its business in yet another blow to Alex Salmond and the SNP. Standard Life is expected to flag its concerns when it reports results on Thursday.
THE WALL STREET JOURNAL
Coca-Cola finance boss to retire
Coca-Cola said yesterday that long-serving financial chief Gary Fayard will retire in May and be succeeded by Kathy Waller, another seasoned Coke executive. The departure of Fayard comes at a challenging time for the world’s largest beverage company, which is grappling with slowing sales growth and weakening foreign currencies that are biting into profits.
GrubHub joins the tech IPO crush
GrubHub, the takeout-ordering service similar to London-based Just Eat, has made a confidential filing for a US initial public offering.