- Venezuela’s Lopez says ready for arrest at Tuesday march (Reuters)
- Record Chinese liquidity sends Shanghai Composite back to green for the year (WSJ)
- Deflation Threat Worries G-20 Roiled by Emerging Markets (BBG)
- Neither U.S. nor EU has strategy for Ukraine (Reuters)
- AngloGold Ashanti Chairman Steps Down (WSJ)
- Italy Yields Seen Climbing as Renzi Gets Mandate (BBG)
- Group Led by Starr Near Deal to Buy MultiPlan (WSJ)
- Thai PM under siege, lengthy protests take toll on economy (Reuters)
- The Value of Annoying Co-Workers (WSJ)
- Get off work, Mr. Yellen: Yellen Spouse Akerlof Resigns From UBS-Funded Center in Zurich (BBG)
- Caterpillar Accused of Pressuring Temporary Workers (WSJ)
- Draghi Vow to Act Splits Economists as Growth Picks Up (BBG)
- Italian Bonds Rise With Spain’s as Renzi to Form New Government (BBG)
Overnight Media Digest
German Chancellor Angela Merkel is set to push French President Francois Hollande to back EU-based alternatives for internet infrastructure dominated by the United States during her visit to Paris.
The Bank of England will only start to increase interest rates when a range of measures suggest the economy is operating at closer to full capacity, central bank governor Mark Carney said in an interview broadcast on Sunday.
Privately held developer Cala is to step up home building by launching two units that would construct new homes in southern England, after almost a year after it was acquired from the Lloyds Banking Group.
Lloyds Banking Group Plc is in talks with Britain’s Prudential Regulation Authority over “ringfencing” rules in an attempt to save its investment banking functions, according to sources familiar with the matter.
Barclays will hold an investor roadshow to reassure jittery shareholders after the bank announced its full-year results, and paid higher bonuses despite lower profit.
RETAILERS REVEAL NEW BUSINESS RATES OPTIONS
The British Retail Consortium has hired accountancy firm EY to research alternatives to the tax and will on Monday publish three potential options alongside modifying the existing system.
READER’S DIGEST SOLD FOR 1 POUND BY BETTER CAPITAL
Reader’s Digest has been sold for just 1 pound by Better Capital to a venture capitalist whose former television company created “Bob the Builder”. The sale marks another chapter in the magazine publishing company’s chequered history.
BRITISH GAS OWNER CENTRICA UNDER FIRE FROM FUEL POVERTY CAMPAIGNERS
Centrica, the owner of British Gas, has come under fire from fuel poverty campaigners before announcing profits of almost 3 billion pounds this week. “Although Centrica care little for their customers freezing to death in their homes they have shown commitment to their shareholders, by recently handing back 420 million pounds to them”, a spokeswoman for the Fuel Poverty Action group said.
ROYAL MAIL AND CWU IN TALKS OVER WORKING CONDITIONS CHARTER
Royal Mail and the Communication Workers Union have started talks on a company charter to enshrine their post-privatisation agreement over working conditions for more than 100,000 workers so that the terms can only be overturned by a vote of the company’s shareholders.
ESSAR TAKEOVER DEALS BLOW TO CITY CREDIBILITY
The Ruias are putting the final touches to a takeover bid for Essar Energy the power company they floated in 2010.
ROLLS-ROYCE FACES CLASH WITH INVESTORS AFTER ACCOUNTS PROBE
Rolls-Royce faces a showdown with investors over how it accounts for lucrative contracts to service aircraft engines. The company will now hold a briefing on the issue at July’s Farnborough airshow.
HESTER FLOATS 200 MILLION POUNDS SALE OF RSA CANADA UNIT
Sky News has learnt that RSA has commenced an auction of Noraxis Capital Corporation, a network of regional insurance brokers, which could raise as much as 200 million pounds.
BARCLAYS BEGINS SEARCH FOR WALKER SUCCESSOR
Sky News has learnt that Barclays has engaged headhunters to begin a search process to replace Sir David Walker as chairman in the coming months and has already commenced board discussions about the plan.
SHANGHAI SECURITIES NEWS
– Data released by China’s central bank shows January credit growth approaching a four-year high and social financing at a record, driven by enterprises’ mid-term and long-term loans. Peng Wensheng, chief economist at CICC, expected a tightening preference in future monetary policies.
– China Railway Corp announced that it would raise transportation prices by 0.015 yuan per tonne per kilometer, and Daqin Railway Co Ltd’s operational revenue is expected to increase by 4.3 billion yuan ($708.7 million) next year as a result.
CHINA SECURITIES JOURNAL
– Statistical indices must be adjusted to reflect the fact that data from the National Bureau of Statistics shows demand in real estate markets in 70 large- and medium-sized cities but oversupply in many small cities.
– China’s higher-than-expected trade surplus in January was a result of industrial upgrading rather than hot money inflows, said Mei Xinyu, researcher at the Ministry of Commerce.
– Heavy smog in the Chinese capital Beijing lasting for days has triggered harsh public criticism over the inaction of the municipal government.
– The U.S. government has neither the capacity to influence China’s political process, nor the power to impede any departments concerned from sanctioning dissidents who engage in illegal activities, an editorial said.
– China still needs to set targets for annual national economic growth, although the pace must now be set to take into consideration the environment and other factors that will ensure sustainability of the growth, an editorial said.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
Voters return to Abbott: http://link.reuters.com/qap86v
Newcrest Mining rules out equity raising: http://link.reuters.com/sap86v
Islamic fund pours investment into Queensland: http://link.reuters.com/rap86v
US oil giants in talks over $2 billion SA hub: http://link.reuters.com/tap86v
Competition conundrum complicates AGL-MacGen deal: http://link.reuters.com/wap86v
Dairy deal pipeline is far from dry, says Saputo adviser: http://link.reuters.com/xap86v
THE AUSTRALIAN (www.theaustralian.news.com.au)
Loan relief for hard-hit farms: http://link.reuters.com/zap86v
UGL accused of ‘cooking the books’: http://link.reuters.com/bep86v
ASX, BoC in yuan payment venture: http://link.reuters.com/cep86v
NAB slams easy loans in wake of Forge failure: http://link.reuters.com/dep86v
China stockpiles cheap uranium as severe shortage is anticipated: http://link.reuters.com/fep86v
THE SYDNEY MORNING HERALD (www.smh.com.au)
Investors wanted to get jetpacks off the ground: http://link.reuters.com/gep86v
THE AGE (www.theage.com.au)
IMF chief Christine Lagarde urges Australia to help G20 make financial reforms: http://link.reuters.com/pap86v
Campbell’s sweetener could spark biscuit price war: http://link.reuters.com/nap86v