NEW! Investment Companies Centre

Thursday's newspaper round-up: BP, Reed Elsevier, BA

Related Companies

Related Indices

Related Sectors

News for Spread Betters

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 03 Jul 2008

LONDON (ShareCast) - Russian officials said they would speed visa and work permit renewals for foreign managers at TNK-BP, in an unexpected boost for BP in its battle to retain its role in the Russian oil venture, reports the FT.

Reed Elsevier has been forced to offer a loan to would-be buyers of its £1billion-plus business magazines division in an attempt to kick-start an auction of the unit behind Farmers Weekly and Flight International, reports the Times.

British Airways is said to be close to seeking clearance from competition authorities for a three-way operational merger, says the Times.

American Airlines, British Airways and Spain’s Iberia are close to applying for antitrust immunity to form a joint venture that would be one of the most powerful forces in the transatlantic aviation market, adds the FT.

F&C Asset Management has emerged as one of the most short-sold companies listed on the stock market, with more than 10pc of its shares in the hands of investors betting its price will fall further, says the Telegraph.

Meanwhile, hedge funds will no longer be able to build secret stakes in companies after the UK Financial Services Authority announced it would introduce unexpectedly strict rules on the disclosure of derivatives, reports the FT.

DMGT, publisher of the Daily Mail, has recruited Thomson Reuters executive Suresh Kavan to run its business information publishing division, replacing Martin Morgan, who is to become group chief executive, reports the Telegraph.

Renowned City financier Michael Spencer is sitting on a £6m paper loss after his latest horse-racing venture, Turftrax, appeared to fall at the first hurdle, reports the Telegraph.

Britain is facing the risk of renewed turmoil in the financial markets, Professor Charlie Bean, the new deputy governor of the Bank of England warned yesterday, reports the Independent.

Coal prices have tumbled from record highs earlier this week as buyers sit on their hands, setting off a scramble by hedge funds to liquidate speculative positions, reports the Telegraph.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).