UK lender Lloyds is to dispose of its loss-making Spanish retail and private banking operations in an effort to continue its strategy of 'rationalising' its overseas presence and ensuring best value for shareholders, the group said on Monday. [29 Apr '13]
In a letter dated April 12th, and seen by The Sunday Times, law firm Dechert alleges that ENRC - the FTSE 100 listed copper miner - engaged in several inappropriate actions, including "payments to African presidents" and $35m of misappropriated cash. The company has denied those claims. Dechert was discharged from the internal investigation after what ENRC labelled "inappropriate communications" with the Serious Fraud Office (SFO) and the "unprofessional" handling of the inve [28 Apr '13]
The Telegraph says Jim O'Neil, head of the UK Financial Investments (UKFI) which manages the government's investments in RBS and Lloyds, has resigned, "deal[ing] a blow to the government's hopes of selling the stakes in the near future". [26 Apr '13]
The Guardian says: "Premier Foods, the firm behind Bisto, Hovis and Mr Kipling, is sitting on a pensions timebomb that risks wiping up to a quarter off the value of retirement savings of 60,000 past and present workers if the debt-laden food manufacturer were to slip into insolvency, according to a leading pensions expert." Nevertheless, the company has stressed that bankruptcy remains highly unlikely. [25 Apr '13]
Stocks had trimmed gains and were trading broadly flat by Wednesday lunchtime as markets gave a mixed reaction to weak economic data from Germany with traders guessing at whether the figures will prompt the European Central Bank (ECB) to cut interest rates. [24 Apr '13]
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