Press Round-up – January 16

January 16, 2012

Greece’s creditors seek end to deadlock
Greece’s international creditors are considering an appeal to French and German leaders to break a deadlock in negotiations over the size of the losses to be taken by banks and other bondholders as part of a 100 billion euros deal seen as crucial to bringing the country’s debt under control. (FT)

Osborne to unveil new deal with China
British finance minister George Osborne will hail a ground-breaking agreement with China on Monday that will bring a multibillion pound boost to the UK’s financial services district. (Times)

UK prison sell-off opens door to privatisation
Seven private companies are bidding for 2 billion pounds of contracts to run nine English jails in what is being regarded by many as the first move towards the wide privatisation of the British Prison Service. (Times)

Three set to bid for Anadarko’s Brazil unit
Three of Europe’s biggest oil companies are set to vie for Anadarko Petroleum’s Brazilian business, valued at more than $3 billion, as interest from global groups in this new frontier for deep water exploration grows. (FT)
Saudis set to open up access to bourse
Saudi Arabia, the Middle East’s biggest economy and the world’s largest oil exporter, is expected to allow foreigners to invest directly on its $340 billion stock market for the first time later this year. (FT)

RBS pushes Peacocks to brink of administration
The Royal Bank of Scotland has emerged as the main lender refusing to save Peacocks, the struggling retailer, putting 10,000 jobs at risk. (Telegraph)

Murdoch attacks Obama over online privacy laws

The White House has spoken out against proposed legislation intended to reduce online piracy, inviting a strong response from Rupert Murdoch, and fuelling a battle between the technology and entertainment industries. (FT)

UK manufacturing sector uncertain about growth for 2012
Half of Britain’s manufacturing bosses expect the economy to deteriorate further this year as the UK continues to feel the fallout of the deep crisis with its key trading partner the eurozone. (Guardian)

RBS staff consider arm buyout
A group of dealmakers at Royal Bank of Scotland, including its head of corporate finance, are considering a management buyout as the state-controlled bank looks to sell or shut down its advisory business. (FT)

Co-Op Bank to increase buy-to-let lending
The Co-operative Bank, one of the UK’s few self-proclaimed ethical lenders, is looking to significantly increase the number of mortgages it provides to buy-to-let landlords, a group accused of fuelling the recent property crash. (FT)

Military warns gas imports at risk
UK military leaders have raised concerns that more than 80 percent of the UK’s liquefied natural gas imports would be halted if Iran made good its threat to block the Strait of Hormuz. (FT)

Clegg urges budget targeting the rich
British Deputy Prime Minister Nick Clegg is demanding a “tax the rich” budget in March to head off growing fears that the coalition will lose public support because its deficit reduction programme is seen as unfair on ordinary families. (Independent)
Osborne promises extra cash for IMF
Chancellor of the Exchequer George Osborne will promise on Monday to help struggling euro zone countries by increasing Britain’s contributions to the International Monetary Fund, admitting that “risks faced by the global economy have increased significantly over the past year”. (FT)

Manchester airport chief looks at options
One of the UK’s few publicly owned airports has not ruled out a part-privatisation to raise money for acquisitions but said it was “unlikely” to join the bidding for Edinburgh airport. (FT)

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