PRESS DIGEST - Financial Times - April 19
April 19 (Reuters) - Headlines
Brazil cement maker seeks $5.4 bln via IPO ()
CVC buys back German metering group ()
Verizon steps up pressure on Vodafone ()
Barclays draws line under Diamond era ()
Morgan Stanley hit by slow trading ()
Nokia shares slide as revenues disappoint ()
JPMorgan offices raided in MPS inquiry ()
Aviva plan to axe 2,000 jobs criticised ()
New BHP chief to take pay cut ()
Puma poaches Pandora chief for top job ()
Brazil's largest cement company Votorantim Cimentos plans to raise $5.4 billion through an initial public offering that will be the world's biggest this year if realised.
Private equity company CVC Capital is buying Ista, a German metering company it sold to rival Charterhouse six years ago, for 3.1 billion euros ($4.06 billion).
Verizon Communications is pressuring Vodafone Group to sell its minority stake in their joint venture, asserting that the British telecoms company would incur no significant tax obstacle if it were to do so.
After ousting senior executives Rich Ricci and Tom Kalaris, Barclays has finally moved on from its Bob Diamond era. Cost controls helped Morgan Stanley's report a rise in first-quarter profit, even as revenue was hurt by a slowdown in trading activity. First-quarter revenue at Nokia reached its lowest point in over a decade as the Finnish company sold the least mobile phones ever during the period. Probing further into Monte dei Paschi di Siena's alleged financial malpractice, Italian authorities raided JPMorgan Chase offices in Milan.
Insurer Aviva has been criticised for its plans to squeeze redundancy packages for UK workers and 2,000 jobs worldwide.
BHP Billiton, the world's biggest miner, is cutting the pay of new Chief Executive Andrew Mackenzie in light of the strain the mining industry is currently under.
German sportswear maker Puma poached its new chief executive Bjorn Gulden from Danish jewellery maker Pandora.