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Press Round-up – February 16

By Reuters Staff
February 16, 2012

Women swelling the ranks of the jobless
Women are the hidden victims of Britain’s flat-lining economy, losing their jobs at a far faster rate than men, official figures revealed on Wednesday. (Independent)

Tesco looks to prioritise food in sales push
Tesco has told investors that it plans to bolster fresh produce and step up the pace of change in its food business in an effort to revive UK sales after January’s shock profit warning. (FT)

Former BP CEO Hayward in line for payout
Tony Hayward, BP’s chief executive during the 2010 Gulf of Mexico oil spill, is in line to receive a share bonus worth an estimated 600,000 pounds from his former employer, as a reward for the company’s performance between 2009 and 2011. (Telegraph)

Orange looks to offer Facebook to Africa
Orange, the French mobile operator, is to provide access to Facebook for all its 70 million mobile phone users in Africa using technology that will allow the normally web-based social media service to be accessible from even the most basic handsets, opening up a huge market for Facebook. (FT)

US Federal Reserve divided on asset purchases
Several members of the Federal Reserve’s interest rate-setting committee said more asset purchases might be necessary “before long”, given the risks to the U.S. economy. (FT)

UBS suspends traders in Libor probe
UBS has suspended some of its most senior traders in connection with an international probe into the possible manipulation of interbank borrowing rates, in the latest controversy to hit the Swiss bank since the financial crisis. (FT)

Tchenguiz set to challenge SFO arrest
The property tycoon Vincent Tchenguiz will apply to the UK’s High Court for a judicial review of the Serious Fraud Office’s decision to arrest him. (Times)

UK foreign office plans property sale
The British Foreign Office has drawn up plans to sell hundreds of embassies and homes worth nearly a quarter of a billion pounds as it increases its presence in fast-growing countries such as China and Brazil. (FT)

Morgan Stanley and Citi face losses
Morgan Stanley and Citigroup face potentially painful losses on two recent European share sales that went awry, highlighting the dangers of the currently aggressive bidding by banks for so-called ‘block trade’ work. (FT)

 

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