Press Round-up – February 14

February 14, 2012

France to push on with Tobin tax
France is determined to press ahead with a financial transaction tax inspired by the UK’s stamp duty and supported by at least eight other euro zone countries, the French finance minister has said. (FT)

Apple probes Chinese working conditions
On the day that Apple’s shares broke through $500 for the first time, it has allowed a group that campaigns against sweatshops to examine conditions faced by Chinese factory workers. (Times)

EU tries to finalise Greek bailout
European officials rushed to finalise details of a 130 billion euro Greek bailout on Monday amid signs Germany and its euro zone allies may not be prepared to approve the deal at a finance ministers’ meeting on Wednesday, despite Athens backing new austerity measures. (FT)

Moody’s cuts France, UK, Austria outlooks to negative
Moody’s, the U.S. rating agency, placed the UK, France, Austria on negative credit watch late on Monday, raising the prospect that these countries may soon lose their triple A ratings against the backdrop of the euro zone debt crisis.  (FT)
Banking Chief in £2 million shares deal probe
An executive at Standard Chartered is facing a possible investigation by the Financial Services Authority after failing to disclose a 2 million pound  share deal to the bank for more than three weeks. (Times)
Honda plans to increase EU production levels
Honda says it will nearly double its production of cars in Europe as it seeks to reduce its reliance on imports from Japan and recover from a disastrous past year.     (FT)

Foreign outcry over proposed ‘Volcker rule’
U.S. regulators are facing a flood of foreign complaints about the “Volcker rule” aimed at banning proprietary trading at banks, increasing the chances that the measure may be watered down. (FT)

S&P turns on Spain’s banking sector
Standard and Poor’s has cut the ratings of some of the key players in Spain’s banking sector, including Santander  and BBVA, the country’s two biggest lenders by assets, following the agency’s decision to cut Spain’s sovereign rating last month. (FT)

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