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What made the nationals: sponsored by PressChoice

Our daily newspaper review of the national press is powered by PressChoice, dedicated to improving communication between the worlds of business



Nia Williams, 20 April, 2012

In today’s newspapers: Barclays Boss bonus is deferred, business misunderstood and is paying enough tax, James Murdoch may have to leave company and $100bn for Facebook

FINANCIAL TIMES

BARCLAYS CHIEF TO DEFER PART OF BONUS

By Daniel Schäfer and Kate Burgess in London

Bob Diamond has promised higher dividends and pledged to forgo parts of his bonus for 2011 until Barclays has improved profitability, in a last-minute bid by the bank’s chief executive to fend off an investor rebellion over his pay package.

DAILY TELEGRAPH

BIG BUSINESS MUST 'FIGHT BACK' AGAINST TAX-DODGING 'MYTH' SAYS CBI

By James Hurley

Businesses must "fight back" against the perception that aggressive tax dodging is standard practice among the UK's largest companies, the CBI has said. It said public anger over tax avoidance and evasion stems from "misunderstanding" of the complexities of the tax system. John Cridland, the CBI's director general, said: "Business is paying its fair share of tax – we are much misunderstood. "

DAILY TELEGRAPH

JAMES MURDOCH 'COULD LEAVE NEWS CORP TO SAVE HIMSELF FROM FBI PROBE'

By Katherine Rushton

News Corporation could be forced to sever all ties with James Murdoch in order to save him from harsher punishments under US law, a leading corporate crime lawyer has warned. Mr Murdoch is facing renewed pressure in the US following the arrest of The Sun's royal editor over alleged payments to public officials. According to US lawyers, Mr Murdoch could have his personal assets seized and could be jailed if Mr Larcombe or any other member of News International's staff is found guilty of bribing police of government officials outside the US.

GUARDIAN

AQUASCUTUM TO CLOSE CORBY FACTORY WITH LOSS OF 115 JOBS

Josephine Moulds

Trenchcoat-maker Aquascutum is shutting down its factory in Corby with the loss of 115 jobs, after falling into administration earlier this week. The move prompted a furious response from the GMB trade union which is considering mounting a legal challenge to the redundancies.

GUARDIAN

IMF CHIEF CHRISTINE LAGARDE IN LAST-DITCH STRUGGLE TO RAISE FUNDS

Larry Elliott in Washington

There are fresh fears that the International Monetary Fund is short of emergency cash. Christine Lagarde is struggling to raise funds. The IMF’s managing director was lobbying hard for Britain and other developed nations that have yet to pledge money to build a bigger firewall to provide more than $400bn (£250bn) in fresh resources.

THE SUN

GREEDY BANKERS DRIVE ME POTTY

By Steve Hawkes, Business Editor

Ceramics manufacturer Emma Bridgewater said it was simply “not true” that banks were lending out cash to small companies. She said firms can’t even get an overdraft, despite banks’ claims that there’s no demand for money from the business community.

DAILY MAIL

Facebook to float on stock market on 17 May

By Rob Waugh

Facebook is to go public on May 17th, according to multiple sources. The world's biggest social network is expected to seek a $100billion valuation, the most anticipated stock offering from Silicon Valley since Google went public in 2004.

DAILY EXPRESS

GLAXO BID FOR US PARTNER IS REBUFFED

By Phillip Waller

Drugs group GlaxoSmithKline yesterday kicked off a £1.6billion takeover battle for the US company Human Genome Sciences only to see its offer rejected. Glaxo offered £8.10 per share for the company, which does gene research to develop new drugs, but the group rejected the bid as inadequate.

THE SCOTSMAN

NOKIA RINGS UP MASSIVE LOSSES AS SALES FREEFALL

By Scott Reid

The clock continued to tick down for Nokia racked up a massive quarterly loss, a slump in turnover and its sales chief was leaving. The Finnish group reported a net loss of €929 million (£760m) in the first quarter. The loss compared with a net profit of €344m a year earlier, while revenues fell by 30 per cent to €7.4 billion.

WWW.BBC.CO.UK

OFT WARNS OVER 'MISLEADING' BUSINESS NAMES

A regulator has warned businesses to avoid using "misleading or undesirable" trading names. The Office of Fair Trading (OFT) can rule against names that mislead customers about commercial status. It is particularly concerned about firms that imply they are charities or government agencies.




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