Press Round-up – March 14

March 14, 2012

Osborne looks at 100-year bond
The UK chancellor is aiming to launch an “Osborne bond” – a 100-year debt issue or even a perpetual gilt that never matures – to take advantage of the country’s historically low interest rates.  (FT)

Tesco becomes first major firm to move pension age from 65 to 67
Tesco, the country’s largest private sector employer, is to raise its pension age from 65 to 67 in a move that could be followed by other major companies. (Telegraph)

FSA’s Turner takes aim at City of London
The head of the Financial Services Authority has launched a broadside against innovation in London’s financial district, accusing parts of the City of London of developing complex products that mislead regulators and hoodwink consumers. (Times)

Brussels probes possible telecoms collusion
Europe’s biggest telecoms companies are facing the threat of a European Commission probe focusing on whether meetings between their top executives led to possible collusion. (FT)

Encyclopedia Britannica to cease print edition
The Encyclopedia Britannica will stop publishing its 32-volume print edition after 244 years and instead focus on its digital efforts, a watershed moment that highlights the changing fortunes of content producers in the internet era.  (FT)

Goldman Sachs eyes bid for Veolia water business
Goldman Sachs <GS.N> is working on a potential bid for Veolia’s UK water business, which supplies water to London and south-east England, in a deal estimated at about 1.2 billion pounds. (FT)

Carlyle used new money to pay dividend
Carlyle, the private equity group preparing to go public on Nasdaq, raised money from a shareholder late in 2010 only to then pay most of the proceeds out to its shareholders in the form of a dividend, according to regulatory filings. (FT)

Citigroup fails Fed stress tests
Citigroup and three other U.S. banks have failed Federal Reserve “stress tests” to assess whether they were healthy enough to return more capital to shareholders, the central bank said. (FT)

Murdoch sends letter expressing hacking regret
James Murdoch has written a lengthy letter to a parliamentary committee expressing deep regret for the phone hacking scandal but reiterating his innocence ahead of a crucial report that could determine whether he stays chairman of BSkyB.   (FT)

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