Press Round-up – February 27

February 27, 2012

UK’S Prudential may move to Hong Kong
Prudential, one of Britain’s oldest insurers, is considering plans to uproot its headquarters from London to Hong Kong amid concerns about the impact of new European capital adequacy regulations. (FT)
HSBC set to claw back ‘mis-selling’ bonuses
HSBC, Britain’s largest bank, is set to claw back thousands of pounds of bonuses from executives after the mis-selling of nearly 300 million pounds of long term care bonds to elderly customers.(Telegraph)
Lloyds and RBS may tap ECB’s LTRO funds
Britain’s two part-nationalised banks, Lloyds  and RBS, plan to tap the European Central Bank’s special three-year funding scheme for a combined amount of about 15 billion euros, on a par with some of the euro zone’s largest banks. (FT)

Wells Fargo set for further expansion
Wells Fargo plans to increase the size of its wealth management and insurance divisions through acquisitions as well as buying more assets from shrinking European banks, its chief executive says. (FT)

Payment-in-kind notes make staggering comeback
A speculative, often toxic type of debt that became popular at the peak of the economic boom and recently contributed to the failure of UK retailer Peacocks could be staging a return. (FT)

Bloomberg to reveal data service redesign
Bloomberg will announce a $100 million-plus redesign of its eponymous market data service on Monday, heightening its rivalry with Thomson Reuters by seeking to make its complex 30-year-old system simpler, more intuitive and easier to navigate. (FT)

AXA plans property lending drive
AXA is gearing up to lend 2 billion euros to European property companies during 2012 as one of Europe’s largest insurers bids to cash in on the regulatory pressure curtailing bank financing across the continent. (FT)

Wind companies reviewing UK investment
Billions of pounds’ worth of investment in Britain’s energy infrastructure is on hold or uncertain because of concerns over the government’s commitment to wind energy, a survey found. (Guardian)

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