UK News

Insights from the UK and beyond

Press Round-up – January 13

By Reuters Staff
January 13, 2012

UniCredit cash call to hit core investors
Aabar, the Abu Dhabi investment fund, the Libyan Investment Authority and the Libyan Central Bank, all core investors in UniCredit, are expected to be heavily diluted in the 7.5 billion euros cash call by the Italian bank. (FT)

Investors take plunge on European debt
Spain and Italy carried out successful debt sales as the euro enjoyed a rare good news day on Thursday, bolstered by the cautious view of Mario Draghi that the crisis in the single currency zone was stabilising. (Times)

Hungary softens after EU takes hard line

The European Commission on Thursday warned Hungary that it would use all its power to ensure that the country complied with EU rules as its chief negotiator sought to secure funding. (Times)
SFO to target criminal company dividends
Britain’s fraud investigator intends to confiscate shareholder dividends paid by companies convicted of criminal offences, after it won approval for a landmark court action. (FT)

Texco plunges after “historic” profit warning
Tesco¬† signalled an end to Britain’s supermarket “space race” as it shocked the market with its first profit warning in 20 years following poor Christmas trading. (FT)

Greece races to tie up writedown deal
Greece and its private sector creditors are involved in a race against time to finalise a debt writedown deal over the next 48 hours that will prevent the troubled country from defaulting on its massive debts. (Guardian)

RBS job cuts plan lifts share price
John Hourican, head of Royal Bank of Scotland’s investment bank, made a paper profit of more than 250,000 pounds on the day the UK lender revealed it was closing more than a third of his division and cutting 3,500 jobs. (FT)
NIESR sees UK growth in Q4
The British economy just about scraped growth in the fourth quarter of 2011 according to the National Institute of Economic and Social Research, but weaker data elsewhere darkened the economic outlook. (Telegraph)
Food inflation abates as grain stocks rise
The threat of food inflation, a serious concern for emerging countries last year, is starting to recede as high prices for grains restrain consumption and better crop yields in Europe and Russia replenish stocks. (FT)

Groupama to sell brokerage and UK arm
Groupama has put its brokerage operations and UK business up for sale as the troubled French insurer seeks to shore up its capital position. (FT)

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •