Press Round-up – February 22

February 22, 2012

UK can’t afford tax cuts, CBI tells Osborne
The Labour Party’s tax-cutting proposals are affordable and would undermine investors’ confidence in Britain, the head of the Confederation of British Industry said on Tuesday. (Times)

Tesco offers to pay jobless for work experience
Tesco has offered to pay work experience candidates referred to the supermarket through Jobcentre Plus, which helps find work for the unemployment, after a public outcry on Twitter led to activists gatecrashing a store. (Telegraph)

PayPal hands Ireland biggest post-crisis jobs boost
Irish premier Enda Kenny has described the creation of 1,000 new jobs in Ireland by Ebay’s online payment group PayPal as a signal of confidence in the country and its people even though the nation continues to struggle with recession and the euro crisis. (Guardian)

Wells Fargo to buy energy loan portfolio from BNP
Wells Fargo has agreed to buy an energy loan portfolio from BNP Paribas with a historical value of $11 billion. (FT)

BC Partners raises 6.5 billion euros for new deals
London-based buy-out firm BC Partners has completed one of the largest private equity capital raisings since the global financial crisis by collecting 6.5 billion euros for its latest European fund. (FT)

UK Police investigate Threadneedle rogue trade attempt
Police in London are investigating a suspected $150 million trading fraud attempted by a former trader at the British investment house Threadneedle.     (FT)

Weldon to step down as J&J chief
William Weldon will retire as chief executive of Johnson & Johnson, marking an end to a tenure that has been marred by an embarrassing string of product recalls. (FT)

Singer Church to settle hacking case
Singer Charlotte Church is on the verge of settling her phone-hacking case against the News of the World, raising the prospect that Rupert Murdoch’s newspaper group will face no High Court trial over the scandal, it emerged on Tuesday. (FT)
HSBC to issue shares to pay UK bonuses
HSBC is to issue tens of millions of pounds worth of new shares to pay its top staff their bonuses. (Independent)
M&B homes in on new chief executive
Mitchells & Butlers has drawn up a shortlist of three candidates to be chief executive after the job was spurned by three high-profile industry executives amid concerns at the influence wielded by the pub group’s dominant shareholder, Joe Lewis. (FT)

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