Press Round-up – January 24

January 24, 2012

Berlin ready to see stronger “firewall”
Germany is open to boosting the firepower of the euro zone’s rescue funds to 750 billion euros in exchange for strict budget rules favoured by Berlin in a new fiscal compact for all members of the currency union. (FT)

UK’s Cable plans to curb top pay
British business secretary Vince Cable outlined the most ambitious attempt in a decade to reign in soaring executive pay with measures to boost shareholder power and demystify complex pay deals.  (FT)

RIM shares hit by doubts over new chief
Shares in Research In Motion have weakened further in reaction to a sweeping board and management shake-up at the BlackBerry smartphone manufacturer after analysts raised doubts about the capacity of its new chief executive to turn the company around. (FT)

Asil Nadir comes to trial 22 years after company collapse
The trial of Asil Nadir, one of the most prominent businessmen in 1980s Britain, finally began on Monday – 22 years after the company collapsed into administration owing 550 million pounds. (Guardian)

Premier Foods begins division disposals
Premier Foods has kicked off the sale of Sarson’s Vinegar and is accelerating the disposal process on Hartleys Jams as it strives to secure new loan terms with its bankers by the end of March. (FT)
Top accountants quit as record loss looms
RSM Tenon, Britain’s only listed accountancy firm, was in turmoil on Monday after its top two directors resigned amid mounting losses. (Times)
ThyssenKrupp  discussing Outokumpu steel tie-up
ThyssenKrupp, the German steel and technology conglomerate, is in talks with Finland’s Outokumpu about a possible tie-up of the two companies’ stainless steel businesses in a move that could presage long-awaited European consolidation. (FT)

Petroplus halts fuel sales from refinery
Coryton refinery, one of the largest in the UK and a key source of petrol for London and the south-east of England, stopped fuel supplies on Monday as trading in the shares of its owner Petroplus was suspended. (FT)

Digital revenues set to offset CD’s fall
The global music industry says it is close to a turning point where growth from digital revenues offsets declining sales of CDs, thanks to a combination of subscription services and tougher action on piracy. (FT)

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