WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
INVESTORS TO SIGN AVTOVAZ AID DEAL
Shareholders in Russian car maker Avtovaz will sign a rescue deal for the near-bankrupt firm at a meeting near Paris this week, Yuri Ushakov, the Russian Prime Minister’s deputy chief of staff, said yesterday.
SATYAM SHARES TUMBLE OVER FRESH CHARGES
Shares in Mahindra Satyam, the fraud-hit IT services group, fell nearly 11 per cent on Wednesday after India’s main criminal investigation agency filed new charges against the company’s former chairman and nine other people. In a 200-page charge sheet, the Central Bureau of Investigation said that the alleged accounting fraud at the former Satyam Computer Services’ was significantly larger than previously stated by B. Ramalinga Raju, the former chairman and founder of the company. Investors pushed the company’s shares down to Rs90.55.
THE TIMES
BOOKS CHAIN ON THE BRINK WITH 1,100 JOBS AT RISK
Borders UK is poised to enter administration as last-minute rescue talks falter. The bookseller is understood to be likely to appoint BDO Stoy Hayward as administrator on Thursday, putting 1,100 jobs at risk. The company has been struggling to secure sufficient cash to trade through Christmas. Borders has 45 stores including a handful that trade as Books.
£6 BROADBAND LEVY MAY BE TREBLED FOR HOMES WITH MULTIPLE LINES
A controversial new £6 tax on telephone lines to fund the introduction of superfast broadband internet will leave nearly two million households paying up to three times the levy initially proposed by ministers, according to leaked government documents seen by The Times.
The Daily Telegraph
E.ON CHIEF PAUL GOLBY FEARS CLEAN COAL MAY NEVER BE VIABLE
Extra funding and better market conditions must be created for clean coal if it is ever to progress “beyond the blueprint” of trial plants, Dr Paul Golby, chief executive of E.ON UK, has warned. The Government is fully funding a £1bn trial plant to make dirty coal-fired power stations emit 90pc less carbon dioxide, planning to create up to four in total with a £17 per year levy on customer bills.
DEBT PROVIDERS PLAGUE HOUSEHOLDS WITH COLD CALLS
Britain’s households are being inundated with calls from lenders urging them to take on more debt in the run up to Christmas. The Call Prevention Registry said almost half of all unsolicited telemarketing calls to households this month have been from loan and debt management organisations.
WALL STREET JOURNAL
FACEBOOK HOLDERS TIGHTEN THEIR GRIP
Facebook took steps to solidify the control of founder Mark Zuckerberg and other existing shareholders in the event the social-networking company goes public. The closely held Silicon Valley firm, emulating one of Google well-known strategies, established a dual-class stock structure that would increase the voting power of Mr. Zuckerberg, who is the company’s chief executive, and other existing shareholders if they hold onto their shares in an IPO.
TOYOTA TO FIX GAS PEDAL ON RECALLED CARS
Toyota Motor said it will fix the gas pedal on about 4m vehicles in the US to address sudden-acceleration problems, as the Japanese auto maker tries to repair its reputation mid the company’s biggest recall to date.