March 14, 2012 / 1:42 AM / 5 years ago

PRESS DIGEST - Financial Times - March 14

Financial Times

CARLYLE USED NEW MONEY TO PAY DIVIDEND

Carlyle, the private equity group preparing to go public on Nasdaq, raised money from a shareholder late in 2010 only to then pay most of the proceeds out to its shareholders in the form of a dividend, according to regulatory filings.

CITIGROUP FAILS FED STRESS TESTS

Citigroup and three other U.S. banks have failed Federal Reserve "stress tests" to assess whether they were healthy enough to return more capital to shareholders, the central bank said.

MURDOCH SENDS LETTER EXPRESSING HACKING REGRET

James Murdoch has written a lengthy letter to a parliamentary committee expressing deep regret for the phone hacking scandal but reiterating his innocence ahead of a crucial report that could determine whether he stays chairman of BSkyB .

UK'S OSBORNE LOOKS AT 100-YEAR BOND

The UK chancellor is aiming to launch an "Osborne bond" - a 100-year debt issue or even a perpetual gilt that never matures - to take advantage of the country's historically low interest rates.

BRUSSELS PROBES POSSIBLE TELECOMS COLLUSION

Europe's biggest telecoms companies are facing the threat of a European Commission probe focusing on whether meetings between their top executives led to possible collusion.

ENCYCLOPEDIA BRITANNICA TO CEASE PRINT EDITION

The Encyclopedia Britannica will stop publishing its 32-volume print edition after 244 years and instead focus on its digital efforts, a watershed moment that highlights the changing fortunes of content producers in the internet era.

GOLDMAN SACHS EYES BID FOR VEOLIA WATER

Goldman Sachs is working on a potential bid for Veolia's UK water business, which supplies water to London and south-east England, in a deal estimated at about 1.2 billion pounds ($1.89 billion).

PFIZER ENDS TIE-UP WITH INDIA'S BIOCON

Pfizer has abandoned its insulin partnership with Biocon of India, in the latest blow to deals between multinational drug groups and companies from developing markets.

TESCO CONSIDERS RAISING RETIREMENT AGE

Supermarket chain Tesco is opening a consultation to raise the pensionable age for members of its retirement scheme to 67 from 65 and taking steps to slow the rate at which pension payments rise.

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