Press Round-up – March 9

March 9, 2012

Ryanair threatens to sue over EC ‘bias’
Ryanair boss Michael O’Leary has threatened to sue the European Commission for damages amid claims that its official travel agency discriminates against low-cost carriers. (Telegraph)

Murdoch faces probe over BSkyB ownership
Rupert Murdoch is facing a fresh challenge to his UK media business as it emerged that Britain’s communications regulator has escalated its probe into whether British Sky Broadcasting is a “fit and proper” owner of a broadcasting licence. (FT)

RBS sells back parts of Dutch disaster
Four-and-a-half years on from its disastrous acquisition of ABN Amro, Royal Bank of Scotland  has “sold” back to the Dutch lender parts of its business. (Telegraph)

Deutsche Bank tap ECB for 10 billion euros
Deutsche Bank took as much as 10 billion euros of European Central Bank emergency funding last week, despite deep reservations over the programme voiced by outgoing Chief Executive Josef Ackermann. (FT)

Exxon trims output growth forecasts
ExxonMobil, the world’s largest private sector oil company by production, has scaled back its projections for output growth during the next few years, as contracts with the countries where it operates constrain its expansion. (FT)

Osborne mulls pension tax rise
British finance minister George Osborne is looking to raise taxes on the pension contributions of the highest earners in this month’s Budget, in a move which will release funds to help low earners escape the tax system but antagonise some Conservative ministers.   (FT)

Co-op group delayed in bid for Lloyd’s branches
The Co-operative Group’s attempt to buy 630 branches from Lloyds Banking Group has been delayed as the mutual comes under pressure to overhaul its board, which includes a Methodist minister, a plasterer and a nurse. (FT)

Emirates angry over Airbus superjumbo cracks
Emirates Airline, the world’s largest operator of Airbus’s A380 superjumbo, has lambasted the aircraft maker and plans to seek compensation after complaining of widespread disruption to the carrier following the discovery of wing cracks on the jet. (FT)

China’s bad bank Cinda in talks with investors
Standard Chartered, UBS and Citi Capital are in discussions to invest in China Cinda Asset Management, a company created to clean up debt in China’s banking system, according to people familiar with the situation.   (FT)

Fender launches $200 million IPO
Fender Musical Instruments, the maker of legendary guitars strummed by the likes of Buddy Holly, Jimi Hendrix and Eric Clapton, has filed for a $200 million flotation in New York. (Guardian)

Mongolian mining float delayed
The public listing of Erdenes Tavan Tolgoi, the huge Mongolian coking coal mine that was due to list in London, Hong Kong and Ulan Bator in the next few months, has been delayed by at least six months because of regulatory hurdles and political deadlock as Mongolia’s parliamentary elections approach. (FT)

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