February 7, 2013 / 12:50 AM / in 5 years

PRESS DIGEST - Financial Times - Feb 7

Feb 7 (Reuters) - The Headlines

Osborne presses BoE over programme

Buyout firms seek funds for 10 billion stg EE bid

News Corp to ‘stay the course’ with BSkyB

Cantor in talks over Seymour Pierce

ISS deals blow to Rothschild over Bumi

RBS pays 390 mln stg to settle Libor probe

Deutsche Bank suspends rate traders Dividend hurdle almost derailed Dell deal )

SFO faces 200 mln stg claim in Tchenguiz case OVERVIEW

A day before the Bank of England’s monetary policy committee announces the outcome of its monthly meeting, Chancellor George Osborne has called on BoE for a looser monetary policy to boost economic recovery.

Buyout firms are racing to raise funds for a possible 10 billion pounds bid for EE - the United Kingdom’s largest mobile-phone operator. A group formed by Apax and KKR and another led by Blackstone and CVC Capital Partners are working on competing bids.

A News Corp executive said the company would hold on to its 39.1 percent stake in BSkyB for now. Chief Operating Officer Chase Carey said the media conglomerate was still looking at the long-term case for either selling its stake or trying again to take full control to BSkyB, after scrapping plans in wake of the phone hacking scandal in the UK.

Cantor Fitzgerald was in advanced talks, that stretched into Wednesday night, to buy British brokerage firm Seymour Pierce.

Institutional Shareholder Services, ISS, the influential adviser on corporate governance matters, has recommended that Bumi’s shareholders vote against Nat Rothschild’s proposals to replace all the miner’s independent directors.

Royal Bank of Scotland will pay $612 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates. Five traders at Deutsche Bank’s Frankfurt-based money market desk have been suspended as part of an internal inquiry by the bank to find out whether its staff manipulated the Euro Interbank Offered Rate, Euribor.

Dell’s $24.4 billion deal to go private was almost derailed by a debate over whether the company would continue paying its quarterly dividend over the next few months, according to several people involved in the transaction.

Property tycoon Vincent Tchenguiz is seeking 200 million pounds in damages from UK’s Serious Fraud Office over the agency’s mishandling of investigations linking him to the collapse of Iceland’s banking system.

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