Press Round-up – March 6

March 6, 2012

Regulators consider Libor overhaul
UK regulators and global banks are discussing a potentially far-reaching overhaul of the calculation and regulation of interbank lending rates, amid claims that the benchmark for $350 trillion contracts worldwide may have been subject to manipulation.  (FT)

Print room scam insider traders made £1 million
An alleged insider-trading ring made more than 1 million pounds using secret share tips stolen from the printing rooms of two of the City’s biggest investment banks, a court heard yesterday. (Times)

FBI probes former Newscorp Russian investment
The U.S. Federal Bureau of Investigation has been scrutinising a Russian billboard company controlled until last year by News Corp, suggesting that U.S. investigators are conducting a wider probe into Rupert Murdoch’s media company than previously thought. (FT)

Tesco CEO positive on U.S. business
Tesco’s lossmaking chain of U.S. stores is likely to reach a breakeven point as early as this year, the retailer’s chief executive has forecast in his most upbeat assessment yet of the business.    (FT)

Starbucks takes coffee capsule wars to Europe
Coffee capsule wars are set to break out in Europe as Starbucks elbows in on Nespresso’s home turf.
The Seattle-based coffee chain, which is already revamping its European operations to move away from identikit stores in every country, is aiming to replicate the strong sales of its own capsule coffee in the United States.  (FT)

Temenos considers sweetening Misys bid
Switzerland’s Temenos is looking at options to sweeten its planned $2 billion merger with Misys, after the UK group’s lead shareholder joined a bidding war for the banking software company.   (FT)

Newcastle United settles tax dispute
Newcastle United has become the latest Premiership club to settle its tax dispute with HM Revenue & Customs over the payment of image rights to players. The club, owned by Sports Direct <SPD.L> founder Mike Ashley, will disclose the agreement this week when it announces upbeat full-year results. (Telegraph)

Christian Candy looks to New York
Christian Candy, the millionaire property developer behind London’s most expensive apartment block, has turned his attention to New York, buying up one of the city’s best-known addresses.  (FT)

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