Press Round-up – April 2

April 2, 2012

European rules alarm fund managers
Some fund managers’ worst fears over pan-European regulation have re-emerged, prompting the hedge fund and private equity industries to hit back at technical standards proposed by Brussels that they say will damage business and shut out the U.S. and Asia.  (FT)

International businesses attack retrospective Indian tax law
The international business community has launched a blistering attack on the Indian government for a retrospective tax grab against multinational companies. (Telegraph)

PWC’s auditing under question
PriceWaterhouseCoopers is embroiled in a potentially explosive row with a client after questions were raised about its auditing. (Times)

RBS to pay big dividend on preference shares
Royal Bank of Scotland is expected to re-instate dividends on its preference shares in May, which could lead to a 400 million pound capital raising. (Telegraph)

Dangote Cement plans London listing
Aliko Dangote, Africa’s richest man, plans to list his $11 billion cement business on the London Stock Exchange next year and loosen his personal control over the company. (FT)

Big banks prepare to pay back LTRO loans
Some of Europe’s biggest banks are preparing to return a chunk of the cheap three-year funding they recently took from the European Central Bank as early as this year. (FT)

AIG eyes way back into mortgage market
AIG, the insurance group bailed out by the U.S. government after disastrous bets on the mortgage market, is exploring a way of ramping up its activity in the sector once again by buying home loans. (FT)

FSA raids soar in financial crisis
The number of dawn raids by Britain’s financial regulator in its pursuit of insider traders and other white-collar criminals has soared since the financial crisis. (FT)

Disasters take toll on Asian insurance
The scale of divergence in global reinsurance premiums has been highlighted by a closely tracked study that shows rates for some Japanese insurers have doubled or more in the past year while other areas are little changed. (FT)

U.S. pension fund in Edinburgh Airport talks
The biggest asset manager for American academics’ pensions is in talks with JPMorgan Chase about joining the bank’s infrastructure fund in a bid for Edinburgh airport. (FT)

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