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
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