Friday newspaper round-up: Darling to bar rivals from state-controlled banks
Banks will be barred from buying Northern Rock or the taxpayer’s stakes in Lloyds Banking Group and Royal Bank of Scotland if they have big existing operations in the UK, Alistair Darling has signalled.The chancellor told a CBI dinner in Glasgow that as the government scales back and ultimately removes support in the banking sector, it would do so in a way “that proactively encourages new entrants,” reports the FT.
World leaders on Thursday set out the first steps toward withdrawing emergency support for the global economy even though they warned that the crisis was not over. The US, UK, France and Germany called for work to start “on exit strategies to be implemented in a co-ordinated manner as soon as the crisis is over”. Tim Geithner, US Treasury secretary, said finance ministers should start to spell out how the “very successful policy response” to the economic crisis could be reversed, the FT reports.
Gordon Brown has joined forces with France and Germany to call on G20 leaders to impose a tough and "concrete" clampdown on bank bonuses when they meet in Pittsburgh at the end of the month. In a letter to Frederik Reinfeldt, the EU president, signed by the Prime Minister, the French President Nicolas Sarkozy, and the German Chancellor Angela Merkel, the leaders outline a set of measures which they would like to be agreed to stamp out "reprehensible practices" within the global banking system, the Telegraph reports.
Lord Turner's call for a Tobin tax is "irrelevant" and his recent outburst on investment banks' pay and bonuses are the "wrong issues", according to Richard Lambert, director-general of the CBI. Lambert used his speech at the CBI's annual dinner in the north-east of England last night to urge the chairman of the Financial Services Authority to concentrate instead on the "real" problems facing business such as credit lines and bank competition, the Telegraph reports.
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Today's Headlines
Bovis Homes Group (BVS) | Price: 497.00p | Change: -2.26%
Bovis share offering to fund land buying
The Scotsman | 04-Sep-2009
BowLeven (BLVN) | Price: 84.25p | Change: -1.18%
Bowleven dips as well drilling is postponed
The Scotsman | 04-Sep-2009
Bowleven planning to start African drilling work next year
The Herald | 04-Sep-2009
British Airways (BAY) | Price: 184.10p | Change: 1.38%
Strike looms in BA job axe row
Sun | 04-Sep-2009
Diageo (DGE) | Price: 953.00p | Change: -1.60%
Pernod Ricard to focus on reducing debt
Telegraph | 04-Sep-2009
Go-Ahead Group (GOG) | Price: 1,363.00p | Change: 5.22%
A blow for 'Go'
Sun | 04-Sep-2009
Aviation gloom hurts Go-Ahead
The Scotsman | 04-Sep-2009
Go-Ahead warns of little growth until 2011
The Independent | 04-Sep-2009
HMV Group (HMV) | Price: 111.40p | Change: -2.79%
HMV buys half of 7digital to drive online expansion
The Independent | 04-Sep-2009
HMV doing well, thanks to demise of rivals
The Scotsman | 04-Sep-2009
Hays (HAS) | Price: 98.30p | Change: -1.75%
Boost as UK jobs 'stabilise'
Sun | 04-Sep-2009
Lloyds Banking Group (LLOY) | Price: 100.00p | Change: 0.29%
Lloyds Banking Group 'only needs to raise Ł6bn' in rights issue
Telegraph | 04-Sep-2009
RBS and Lloyds set to take stakes with property companies in repossessed sites
Times | 04-Sep-2009
RBS and Lloyds take Irish property hit
The Scotsman | 04-Sep-2009
Marks & Spencer Group (MKS) | Price: 342.30p | Change: 0.53%
National Express Group (NEX) | Price: 465.10p | Change: 13.08%
Express last bid
Sun | 04-Sep-2009
Fresh bid values National Express at Ł765m
The Scotsman | 04-Sep-2009
National Express subject of 'final' takeover bid by CVC-Cosmen
Telegraph | 04-Sep-2009
National Express up a gear
The Scotsman | 04-Sep-2009
Spanish group raises National Express bid to 500p per share
The Independent | 04-Sep-2009
Stagecoach books its seat as Spanish group raises bid for National Express
Times | 04-Sep-2009
Royal Bank of Scotland Group (RBS) | Price: 55.00p | Change: 3.19%
RBS and Lloyds set to take stakes with property companies in repossessed sites
Times | 04-Sep-2009
RBS and Lloyds take Irish property hit
The Scotsman | 04-Sep-2009
Stagecoach Group (SGC) | Price: 145.50p | Change: 11.54%
Cosmen and CVC beef up bid for National Express
The Herald | 04-Sep-2009
National Express subject of 'final' takeover bid by CVC-Cosmen
Telegraph | 04-Sep-2009
Spanish group raises National Express bid to 500p per share
The Independent | 04-Sep-2009
Stagecoach books its seat as Spanish group raises bid for National Express
Times | 04-Sep-2009
Stagecoach facing forced sell-off of town bus operations
The Herald | 04-Sep-2009
Wincanton (WIN) | Price: 222.00p | Change: 2.91%
easyJet (EZJ) | Price: 315.30p | Change: 0.10%
Hundreds of jobs at risk as easyJet cuts flights
Times | 04-Sep-2009
Jobs threat as easyJet cuts 360 flights a week
The Independent | 04-Sep-2009
Telegraph | 04-Sep-2009
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