PRESS DIGEST - Financial Times - Nov 5

Financial Times

Headlines

POST-SANDY REBUILDING BOOST FOR ECONOMY

HMRC TO FACE MPS OVER MULTINATIONALS' TAX

BOFA MOVES CLOSER TO PAYOUT

KCELL SET TO PURSUE LISTING IN LONDON

COMET CREDITORS INCLUDE OWNER

BUYERS STAY AWAY FROM CANTON FAIR

STUDENT HOUSING IS TOP PROPERTY ASSET

LONDON HOTELS FACE POST-GAMES HANGOVER

Overview

POST-SANDY REBUILDING BOOST FOR ECONOMY

The storm that ravaged the north-east coast of the United States last week will hit economic growth in the final quarter of 2012 but will boost it in the first half of 2013, company executives and economists say.

HMRC TO FACE MPS OVER MULTINATIONALS' TAX

When Britain's top Revenue officials appear before MPs on Monday to discuss their latest accounts, they are likely to come under renewed pressure over the tax affairs of some of the highest profile multinationals operating in Britain.

BOFA MOVES CLOSER TO PAYOUT

Bank of America has moved closer to returning capital to shareholders after last week unexpectedly reaching new international capital standards.

KCELL SET TO PURSUE LISTING IN LONDON

Kcell, the largest mobile operator in Kazakhstan, plans to list about a quarter of its equity for up to 500 million pounds. Preparations have been concluded, according to sources familiar with the process.

COMET CREDITORS INCLUDE OWNER

OpCapita, the private investment firm that acquired Comet for 2 pounds less than a year ago, will be among the first in line for an estimated 60 million pounds that could be recovered from the electricals retailer that collapsed into administration last week.

BUYERS STAY AWAY FROM CANTON FAIR

Weak global demand for Chinese exports was on display at China's largest industrial bazaar where suppliers of everything from electronics to Christmas decorations said both the number of buyers and orders were 10 per cent lower than the previous fair in the spring.

OFFSHORE WIND TURBINE ORDERS GRIND TO HALT

Orders for offshore wind turbines have come to an abrupt halt in the UK, in what some industry figures say is the first clear sign of a long-feared slowdown in renewable energy investment.

STUDENT HOUSING IS TOP PROPERTY ASSET

Student housing has emerged as the best-performing asset in the US and UK property markets, according to figures published on Monday that show the sector generating double-digit returns on the back of strong rental growth.

LONDON HOTELS FACE POST-GAMES HANGOVER

London's hotel occupancy is projected to drop by nearly four percentage points to 77 per cent in 2013, the lowest occupancy rate since 2005, according to research by PwC, as business travel weakens.