BAILOUT FUND SHOULD BUY EURO DEBT
A top European Central Bank policymaker has publicly backed
the rapid use of the euro zone's bailout fund to buy stressed
sovereign bonds on the open market, saying such action could
ease the "very severe strain" being felt by Spain and Italy.
BANKS TO GET CHEAP MONEY TO LIFT UK LENDING
The government's new "funding for lending" programme,
designed to boost credit for British business, will cut banks'
costs to as little as 1.2 percent, according to people briefed
on the scheme.
CERN LAB SEEKING BIG BANG FOR ITS BUCKS
The Cern particle physics research laboratory is set to
become a major hedge fund investor, as it seeks bigger returns
for its $4 billion pension scheme.
TYCOON SEEKS BACKERS IN TNK-BP STAKE BID
Mikhail Fridman, the Russian billionaire, has been meeting
institutional investors in London to canvas support for his plan
to buy half of BP's stake in TNK-BP, its
Russian joint venture, according to people familiar with the
QUEEN'S PROPERTY PORTFOLIO NOW WORTH BILLIONS
Soaring farmland values and increased demand for central
London retail outlets helped the Queen's property portfolio
return a record-breaking income surplus for the year of her
JP MORGAN OFFLOADS 'WHALE' HOLDINGS
JPMorgan Chase has sold the majority of its damaging
position in a credit derivatives index that contributed to
losses of more than $2 billion and prompted multiple regulatory
and legal investigations.
P&G ADMITS ERRORS AND SLOWS EXPANSION
Procter & Gamble vowed to halt its expansion into new
markets and focus on the biggest emerging economies as it cut
earnings and revenue forecasts and acknowledged it had