Press round-up – February 17

February 17, 2012

China wants sway in World Bank pick
China has said that the next World Bank president should be chosen on merit, seeking to challenge a tradition that the bank’s chief be a U.S. citizen, though it did not suggest a candidate. (FT)

UK bankers caught up in tax evasion allegations
Three senior investment bankers have emerged as being among the 16 individuals arrested last week as part of an investigation into allegations of tax evasion involving film financing schemes. (Telegraph)

Hedge fund pioneer back for Asia venture
William Bollinger, one of the pioneers of London’s hedge fund industry, has come out of retirement to launch a new venture – in Singapore. (FT)

Tesco criticised over unpaid job advert
Tesco incurred the wrath of thousands of customers and jobseekers on social networking site Twitter on Thursday after a job paying no wages was advertised through Jobcentre Plus. (Telegraph)

Banks and hedge funds face Rangers’ tax penalty
Banks and hedge funds are among around 300 companies that have been drawn into the tax crackdown that pushed Scottish football club Rangers into administration this week. (Telegraph)

L&G employee arrested in trading probe
A 44-year-old man employed at Legal & General Investment Management, one of the UK’s largest investment firms, was arrested by the Financial Services Authority on Thursday in connection with a two-year probe into insider trading. (FT)

RBS director defends Hester bonus

The director at the centre of a recent bonus row at Royal Bank of Scotland says pay decisions should not be swayed by the public mood, even though the bank is 83 percent owned by taxpayers. (FT)

U.S. taxpayers to subsidise housing settlement
U.S. taxpayers are expected to subsidise the $40 billion settlement owed by five leading banks over allegations that they systematically abused borrowers in pursuit of improper home seizures. (FT)

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