WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
RATING AGENCIES RAISE DOUBTS ON SCOTLAND SECURING TRIPLE A STATUS
XtryAn independent Scotland would not be able to count on receiving triple A status, credit rating agencies have told the Financial Times, potentially leading to higher borrowing costs for it if a referencum on independence was successful. The three leading credit rating agencies – Standard & Poor’s, Moody’s and Fitch – indicated an independent Scotland would not automatically inherit the Uks top-notch rating.
CALPERS PILES PRESSURE ON APPLE OVER THE WAY IT ELECTS DIRECTORS
Apple faces fresh shareholder pressure at its annual meeting this month from the largest US public pension fund, to change the way it elects directors. Calpers – the California Pulbic Employees’ Retirement System – has called on Apple to allow directors to be elected by majority voting.
EBA SCEPTICAL ON CAPITAL RAISING
The European Banking Authority is to challenge a significant proportion of the capital restructuring plans put forward by some of the continent’s leading banks to meet tough new capital requirements, sources say.
SABADELL SETS STAGE FOR €1.2BN SHARE SALE
Banco Sabadell, the Spanish lender, has begun sounding out investors about a rights issue worth up to €1.2bn.
THE TIMES
RICH FIGHT IT OUT FOR TOP LONDON PROPERTIES
Demand for the best homes in London is showing no sign of letting up, with values rising again last month. The residential agent Knight Frank said yesterday that its Prime Central London Index showed values for top-end homes rising by 0.9 per cent overall in January.
BOARDS FALL BEHIND IN THE DRIVE TO APPOINT WOMEN
Britain’s biggest companies will miss a deadline to have a quarter of their boardroom positions filled by women unless more is done to move talented female executives up the corporate ladder, recruiter Norman Broadbent has warned.
The Daily Telegraph
DUBAI ABANDONS $10BN DEBT RESTRUCTURING
Dubai’s government has walked away from the $10bn (£6.3bn) debt restructuring of one of its biggest conglomerates, leaving creditors, including the Royal Bank of Scotland (RBS), with exposure to potentially big losses. Dubai Group, the financial services arm of Dubai Holdings, said the emirate’s Supreme Fiscal Committee (SFC) had quit the negotiations and would not inject any government cash.
US HEDGE FUNDS CAPITALISE ON LEHMAN COLLAPSE
It may sound impossible but one of the best financial investments of the past three years has been a collapsed bank – Lehman Brothers.
THE WALL STREET JOURNAL
EUROPE
DEXIA HEADS TO NEXT LIFE AS FRENCH NEAR A DEAL
The French government and two state-controlled entities are in the home stretch to create a new municipal lender from the remains of troubled Franco-Belgian bank Dexia, but they have yet to agree on the price of a key asset, the fate of hundreds of employees, and the exact missions of the future company.
PEPSICO, COKE TO UPDATE INVESTORS
PepsiCo and Coca-Cola likely will show solid profit growth when they share their 2011 results this week, but this year could be tougher. Investors want more evidence US consumers will swallow pricier soda and chips. Domestic soda sales have shrunk.