Press Round-up – March 28

March 28, 2012

Victims of RBS swap scandal call for inquiry
Calls for an inquiry into the interest rate swap mis-selling scandal intensified on Tuesday after Royal Bank of Scotland was accused of forcing one of the UK’s largest business park owners into administration. (Telegraph)

Gazprom deal highlights Kremlin business links
The family of Igor Shuvalov, Russia’s first deputy prime minister, bought nearly $18 million in Gazprom shares through an offshore company as the government prepared to liberalise share trading, a reform which greatly increased their market value, documents show.  (FT)

Probe launched into insurance sales claim

The Ministry of Justice has launched an investigation into claims management companies following a glut of invalid compensation claims filed on behalf of consumers allegedly mis-sold personal protection insurance (PPI). (FT)

Rio Tinto ponders sale of diamond interests
Mining giant Rio Tinto is considering a sale of its diamond interests for up to $2 billion as part of a drive to focus on operations where it has more scale and market clout. (Guardian)

Asda lifts market share to record level
Asda, the UK’s second-biggest supermarket, has achieved its highest share of grocery market sales. (Independent)

Bumi governance issues ‘put to bed’
The new chairman of Bumi has insisted that the London-listed miner is working through the corporate governance issues that have blighted the company’s share price over the past five months and expects no more public rows. (FT)

Oil futures sparke debate on $100 level
Oil contracts for delivery in three to five years’ time are trading at their biggest ever discount to spot prices, prompting a debate about whether the era of triple-digit oil prices will be a short-term phenomenon.   (FT)

CVC prepares to refinance Formula One loan
CVC Capital Partners is lining up a refinancing of its Formula One acquisition loan in a deal that will enable the private equity group to pay itself a dividend of about $1 billion from the operating profits of the motor racing series. (FT)

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