Royal Bank of Scotland is discussing at a senior level whether to take legal action against U.S. software maker CA Technologies after a computer update caused a systems failure that left millions of customers without access to their bank accounts.
The $65 billion merger between commodities trader Glencore and miner Xstrata was on Tuesday night on the verge of collapse after the sovereign wealth fund of Qatar, the second largest shareholder in the miner, opposed the terms of the deal.
Mario Monti has set the stage for a tough fight with Germany at the EU summit this week, insisting that he will continue to push Italy’s proposal to use euro zone bailout funds in an attempt to stabilise financial markets.
The boom in London’s high-end housing market is showing signs of petering out as the impact of the government’s tough stamp duty measures begin to set in.
LONDON‘S CITY FEARS CAMERON EU DEMANDS
The City of London has raised deep concerns over David Cameron’s strategy in Europe, warning that the prime minister’s wishlist of “safeguards” in December could actually have damaged its standing as Europe’s financial centre.
Rupert Murdoch has abandoned his resistance to splitting his $50 billion media empire, agreeing to consider a spin-off of News Corp’s tarnished UK newspapers and other publishing assets from its Fox, Sky and Star entertainment brands.
COKE‘S $3 BILLION TO ADD FIZZ TO INDIA PRESENCE
Coca-Cola is escalating the beverage wars in India, announcing a $3 billion investment intended to help it overtake PepsiCo in one of the few countries where it trails its rival.
GLOBAL ROLE FOR CITI‘S ASIA CONSUMER HEAD
Citigroup has underlined Asia’s growing importance to the bank by naming its consumer banking head in Hong Kong as global head of retail banking, according to an internal email seen by the Financial Times.