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Friday newspaper round-up: Peloton Partners, Royal Bank of Scotland, Centrica

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Date: Friday 29 Feb 2008

LONDON (ShareCast) - One of London’s most successful hedge funds imploded when Peloton Partners put the assets of its $2bn flagship fund up for sale and froze its remaining fund after geared mortgage bets left it unable to meet lenders’ demands, says the FT.

Royal Bank of Scotland chief executive Sir Fred Goodwin, the man who spearheaded the £47bn consortium takeover of Dutch rival ABN Amro last year, has ruled out further acquisitions after shrugging off the worst of the credit crunch to post an 8pc increase in full-year profits, reports the Telegraph.

The Government has decided on the most severe way of introducing its new capital gains tax regime by insisting on a controversial measure that will catch thousands of Britain's most successful entrepreneurs who have already sold businesses, writes the Telegraph.

E.ON sent shockwaves through the European power industry yesterday when it became the first major continental power company to propose a break-up of major parts of its network, handing a victory to the European Commission in its efforts to break the stranglehold the Continent's dominant players have on the market, according to the Independent.

An energy industry regulator described as a “thorn in the side” of the big six power supply companies has jumped ship to the private sector after Centrica reportedly offered to nearly double his salary, says the Times.

Yahoo's shareholders are turning to the courts to try to pressure it into accepting the hostile takeover bid from Microsoft, reports the Independent.

The head of Britain's private equity association has hit back at criticism from the buyout pioneer Jon Moulton, calling for the industry to present a united front as it works to leave behind its "bad guy" image, writes the Independent.

Virgin Media's battle to stem the flow of customers leaving the entertainment group paid off in the fourth quarter of 2007, with fewer desertions both year-on-year and compared with previous quarters, according to the Telegraph.