Press Round-up – April 10

April 10, 2012

Facebook to buy instagram for $1 billion
Facebook is paying $1 billion to buy Instagram, a fast-growing online photo-sharing site, in its largest acquisition to date.   (FT)

Spectrum sale in UK fans 4G hopes
Everything Everywhere, the UK’s largest mobile operator by customer numbers, has appointed Morgan Stanley to sell spectrum that could be used to roll out 4G mobile broadband services in the UK ahead of other operators. (FT)

Fitness first owners put jobs on the line
The new owners of gym chain Fitness First are considering plans to place part of the UK estate into a company voluntary arrangement, potentially putting many hundreds of jobs at risk. (Telegraph)

UK banks and insurers blacklist cluster bomb manufacturers
Four of Britain’s biggest banks and insurance companies, Lloyds Banking Group, Aviva, the UK’s largest insurer, the Co-op and RBS have blacklisted a dozen companies that manufacture cluster bombs and landmines, including two of the world’s largest defence firms. (Guardian)

Loan books ease at RBS and Lloyds
Senior executives at partially nationalised UK banks RBS and Lloyds say their distressed loan books are showing signs of improvement despite a dismal economic backdrop and government austerity measures. (FT)

CME Group eyes London for European bridgehead
CME Group is considering opening a futures exchange in London as a way for the U.S. operator of the Chicago Mercantile Exchange to expand in Europe.   (FT)

Olympic-hit businesses make court move
Scores of small businesses are planning a class-action lawsuit against the organisers of the Olympics over planned road closures and security restrictions that they claim will put hundreds of jobs at risk. (Telegraph)

London councils in pension shake-up
London’s councils are in talks to establish a pooled pension fund for the capital in an attempt to reduce administrative costs and divert more than 2 billion pounds towards local infrastructure projects.   (FT)

Companies risk fines over new data rules
Most British companies have failed to prepare for new data protection rules due to come into force next month amid fears the measures will make it much harder for websites to secure commercially valuable information about their users. (FT)

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