What the other papers say this morning – 05 February 2014
FINANCIAL TIMES
Deutsche aims to regain lost ground
Deutsche Bank has appointed a new New York-based co-head of fixed income trading as the lender adds senior staff and billions in capital to its US business to regain lost ground in the largest investment banking market in the world.
Rich Herman has been elevated to the position of global co-head of fixed income and currencies alongside London-based Zar Amrolia, Germany’s largest lender by assets said in an internal announcement yesterday. US-born Herman ran the global debt sales team out of London, but will relocate to New York to replace Wayne Felson who will take on a new role overseeing investments in electronic trading.
Muddy Waters profits from Blinkx fall
Carson Block, the investor known for betting against shares in Chinese companies, revealed yesterday that he had profited from heavy falls in the share price of Blinkx – the UK online video company that lost a third of its value last week, after a blog questioned its methods of generating advertising revenue.
Greek privatisation deal faces probe
An Athens prosecutor is investigating Greece’s biggest privatisation deal to date: the sale of OPAP, the state gambling monopoly and the country’s biggest sports sponsor, to a group of Czech, Russian, Slovak and Greek investors.
THE TIMES
Tributes to visionary Alain Grisay
Tributes poured in yesterday for Alain Grisay, the former JP Morgan banker and chief executive of F&C Asset Management, who has died aged 59.
A spokesman for F&C, where Grisay spent a decade, including six years as chief executive, described him as a “visionary executive and business leader”. “Alain will be sadly missed by all of us who had the privilege of both knowing him and of working together,” he said.
Brazil puts its faith in magic beans
Coffee futures hit an eight-month high yesterday thanks to exceptionally dry weather in Brazil that could reduce the size of this year’s harvest.
The Daily Telegraph
Labour could delay law needed for HS2
Labour could delay the law needed to build the £42bn high speed rail line between London and the north of England until after the election to give the party more scope to kill off the scheme, it has emerged.
Punch in last minute plea to lenders
Punch Taverns, Britain’s second biggest pubs group, will warn its lenders today that failure to pass a controversial debt restructuring deal could lead to at least five years of “mess” and “uncertainty”. The company has been wrestling with its lenders and shareholders over the last 14 months over how to restructure its £2.3bn debt.
THE WALL STREET JOURNAL
Schmidt gets $100m in Google stock
Google has awarded $100m in restricted stock to executive chairman and former CEO Eric Schmidt, as well as a cash bonus of $6m tied to the search giant’s 2013 performance. In a regulatory filing with the Securities and Exchange Commission, Google disclosed it awarded Schmidt a $6m annual cash bonus, to be paid.
BMW considers first plant in Mexico
German luxury car maker BMW AG is in advanced talks with Mexican officials to build about $1.5bn factory, highlighting the country’s growing status as a major auto-manufacturing hub.