Press Round-up – February 24

February 24, 2012

Madrid presses EU to ease deficit targets
Spain is pressing the European Commission to ease the country’s strict budget deficit target for this year, arguing that pessimism about the Spanish economy shows the potential risks of too much austerity. “There are conversations under way,” said one Madrid official. (FT)

Press Round-up – February 23

February 23, 2012

UK and Japan warn Volcker rule threatens recovery
Britain and Japan have urged the United States to rewrite its so-called “Volcker rule”, saying that trading restrictions on U.S. banks could hit the international sovereign debt market at a delicate moment in the global recovery. (FT)

Press Round-up – February 22

February 22, 2012

UK can’t afford tax cuts, CBI tells Osborne
The Labour Party’s tax-cutting proposals are affordable and would undermine investors’ confidence in Britain, the head of the Confederation of British Industry said on Tuesday. (Times)

Press Round- up – February 21

February 21, 2012

Lloyds rivals’ executives to keep bonuses
Executives responsible for misselling loan insurance at Royal Bank of Scotland and Barclays look set to keep their past bonuses, ignoring the precedent set on Monday by Lloyds Banking Group. (FT)

Press Round-up – February 20

February 20, 2012

U.S. hedge funds to take control of Travelodge
The budget hotel chain Travelodge is set to be taken over by two American hedge funds in a deal designed to prevent the company collapsing under heavy debts. (Times)

Press round-up – February 17

February 17, 2012

China wants sway in World Bank pick
China has said that the next World Bank president should be chosen on merit, seeking to challenge a tradition that the bank’s chief be a U.S. citizen, though it did not suggest a candidate. (FT)

Press Round-up – February 16

February 16, 2012

Women swelling the ranks of the jobless
Women are the hidden victims of Britain’s flat-lining economy, losing their jobs at a far faster rate than men, official figures revealed on Wednesday. (Independent)

Press Round-up – February 15

February 15, 2012

Greece’s rescue package in doubt
Euro zone officials have called off an emergency meeting of finance ministers to approve a vital 130 billion euro bailout for Athens amid a growing fight among the country’s European creditors about the merits of allowing Greece to go bankrupt. (FT)
Thai floods¬† threaten to sink Lloyd’s profits
Lloyd’s said that it had provisionally calculated a claims bill of $2.2 billion for its member insurers after the Thai floods, meaning the world’s oldest insurance market is liable for up to 15 percent of a natural disaster set to cost the insurance industry up to $20 billion. (Times)
Murdoch puts top lawyer on Sun case
Rupert Murdoch has put his top lawyer on to News Corp’s internal affairs committee as the media group comes under fire from its reporters for passing information to the police that led to the arrests of nine journalists at The Sun. (FT)
Inflation drop to ease pain for UK households
Households are expected to receive a welcome boost on Wednesday when the Bank of England signals that inflation will fall below 2 percent in the coming months, offering consumers some respite after two years of shrinking incomes. (Telegraph)
HSBC looks to increase mainland Chinese presence
HSBC <HSBA.L> is aiming to increase its presence in mainland China through a big expansion of its branch network or by raising its stake in Bank of Communications. (FT)

Press Round-up – February 14

February 14, 2012

France to push on with Tobin tax
France is determined to press ahead with a financial transaction tax inspired by the UK’s stamp duty and supported by at least eight other euro zone countries, the French finance minister has said. (FT)

Press Round-up – February 13

February 13, 2012

Tax evasion probe hits more City staff
The tax evasion case that saw four Royal Bank of Scotland staff members arrested, has hit at least two more banks, a stock brokerage and a wealth management firm.  Documents seen by the Daily Telegraph suggest alleged offences relate to illegal use of film finance to evade paying income and other taxes. (Telegraph)