Today in the newspapers – January 11

January 11, 2012

EU to block DB-NYSE link
European competition officials have recommended blocking the tie-up between Deutsche Boerse and NYSE Euronext , the German and U.S. exchange operators, setting in motion three weeks of frantic lobbying to salvage the deal. (FT) (Times)

Osborne to raid UK pension pot
British finance minister George Osborne is planning to raid the 140 billion pound council pension fund to pay for new roads, bridges and homes. (Times)

FBI to probe hacking of US-China group
The FBI is investigating the hacking of emails sent and received by members of a Congressionally appointed group that issues reports on the economic and military relationship between the U.S. and China. (FT)

Citibank head urges greater transparency
The chief executive of Citigroup has said banks should be forced to publicise how they measure risk so that investors can “punish” institutions that are too optimistic about the quality of their assets. (FT)

Record number of women in UK boardrooms
The number of women directors in British boardrooms has reached its highest ever level, almost a year after the government demanded action on the gender inequality at the top of British business. (Guardian)

Everything Everywhere to sell wavelength spectrum
Everything Everywhere, the combined UK operations of France Telecom and Deutsche Telekom, will in the next month begin a rare auction of spectrum that can be used for next generation mobile services in a process that could raise as much as 400 million pounds. (FT)

UK banks left vulnerable by Bank of England and politicians
City analysts have criticised the Bank of England’s handling of Britain’s banking sector and warned that Bank and government policies have left major lenders vulnerable if the euro zone debt crisis spreads to the UK. (Telegraph)

Hildebrand email not seen by investigation

A key email between Philipp Hildebrand, the former chairman of the Swiss National Bank, and his financial adviser was seen by neither the central bank’s governing council nor auditors investigating his financial dealings. (FT)

Doubts over value of UK’s high-speed rail upgrade
The economic case for the first stage of the government’s 32.7 billion pound high speed rail line has weakened so much over the past year that the London to Birmingham section is now considered “low” value for money, according to its own calculations. (FT) (Telegraph)

Mafia groups leading Italian enterprise
The Mafia is now Italy’s biggest business enterprise, with an annual turnover of 140 billion euros, according to a report by the Confesercenti, an employers’ association. (Telegraph)

BTA creditors gear upĀ  for restructuring battle
Creditors of BTA, the stricken Kazakh bank controlled by the country’s sovereign wealth fund, have started to organise into informal groups, preparing the ground for what could be a combative multibillion-dollar restructuring battle. (FT)

Hands’ plea for EMI data rejected by court

Guy Hands has been dealt a blow in his legal dispute with CitigroupĀ  over the U.S. bank’s seizure of EMI. A UK court has thrown out his application demanding that PwC, the music group’s administrators, and other advisers disclose valuation documents. (FT)

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