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PRESS DIGEST - Financial Times - April 10
April 10, 2012 / 12:15 AM / 6 years ago

PRESS DIGEST - Financial Times - April 10

Financial Times

FACEBOOK TO BUY INSTAGRAM FOR $1 BILLION

Facebook is paying $1 billion to buy Instagram, a fast-growing online photo-sharing site, in its largest acquisition to date.

SPECTRUM SALE IN UK FANS 4G HOPES

Everything Everywhere, the UK’s largest mobile operator by customer numbers, has appointed Morgan Stanley to sell spectrum that could be used to roll out 4G mobile broadband services in the UK ahead of other operators.

LOAN BOOKS EASE AT RBS AND LLOYDS

Senior executives at partially nationalised UK banks RBS and Lloyds say their distressed loan books are showing signs of improvement despite a dismal economic backdrop and government austerity measures.

CME GROUP EYES LONDON FOR EUROPEAN BRIDGEHEAD

CME Group is considering opening a futures exchange in London as a way for the U.S. operator of the Chicago Mercantile Exchange to expand in Europe.

LONDON COUNCILS IN PENSION SHAKE-UP

London’s councils are in talks to establish a pooled pension fund for the capital in an attempt to reduce administrative costs and divert more than 2 billion pounds ($3.2 billion)towards local infrastructure projects.

COMPANIES RISK FINES OVER NEW DATA RULES

Most British companies have failed to prepare for new data protection rules due to come into force next month amid fears the measures will make it much harder for websites to secure commercially valuable information about their users.

SANY GROUP TO INVEST IN PUTZMEISTER

One of China’s fastest-growing manufacturing companies has promised to invest 300 million euros to expand its new German offshoot, in an illustration of the interest by Chinese production businesses in establishing a stronger international presence.

SONY TO CUT GLOBAL WORKFORCE BY 10,000

Sony is preparing to cut its workforce by 10,000, or 6 percent of its global headcount, as part of a restructuring that has seen the Japanese electronics and entertainment group sell two divisions and drastically scale back its television production plans.

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