PRESS DIGEST - Financial Times - April 19

April 19 Thu Apr 18, 2013 7:05pm EDT

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 ()

Overview

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.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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