April 23, 2013 / 12:30 AM / in 5 years

PRESS DIGEST - Financial Times - April 23

April 22 (Reuters) - Headlines Bumi shares halted amid payments concern () Bribery probe lifts Walmart directors’ pay ()

CVC to maintain pursuit of Betfair ()

Deutsche Bank versus Vik battle begins ()

ABB in $1-billion U.S. solar power deal ()

UK pushes ahead with Urenco privatisation ()

Caterpillar earnings drop 45 pct ()

Lengthy flu season helps pep up Reckitt ()


Indoneasia-focussed coal miner Bumi has suspended its shares until after it is able to publish its -- indefinitely delayed -- 2012 annual results. Salaries doubled to at least $120,000 for Walmart Stores directors who worked on an investigation into the bribery allegations in Mexico.

Though Betfair rejected CVC Capital Partners’ 910-million-pound ($1.39 billion) buyout offer, the private equity firm plans to continue its talks with the online gambling company’s shareholders. A volatile legal battle begins between Deutsche Bank AG and Norwegian billionaire Alexander Vik, who is claiming $8 billion worth of damages for losses incurred at the height of the financial crisis.

Swiss engineering company ABB is to buy U.S. solar energy company Power-One for $1.03 billion, hoping that growing emerging market demand will counter the uncertainty of an industry in which western firms have been struggling.

With a view to cutting its public debt, the British government said it would sell its one-third share in Urenco -- a deal that could go for as much as 3 billion pounds.

Caterpillar, the world’s largest maker of construction and mining equipment, reported a 45 percent decline in first-quarter earnings and cut its full-year outlook.

Reckitt Benckiser Group, the maker of Nurofen and Strepsils, reported 7 percent first-quarter revenue growth, driven by a worse-than-normal flu season.

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