The Financial Times
Allen takes over helm at EMI Music
The former chief executive of ITV is to take over as executive chairman as the music group, owned by private equity house Terra Firma, seeks to raise £120m in new funds
Turner tells banks to renew stress testing
Regulators have ordered UK banks to run a new round of tougher stress tests that assume the economy will endure a double-dip recession that would force unemployment up to 13.3 per cent
Barclays eyes large US bank deal
The UK banking group is looking at buying a large US retail bank as it tries to rebalance its business away from a booming investment banking franchise
Tentative tone takes hold as investors seek direction
Global Markets Overview: FTSE All-World index remains becalmed near six-week highs, with stock investors reluctant to push riskier assets higher without a fresh catalyst
China export growth beats estimates
China reported 45.7 per cent growth in exports for February from a year earlier, providing fresh evidence of a robust recovery in an economy poised to overtake Japan in size
Call for action on speculation rules
Germany and France are stepping up pressure for urgent EU action to tighten regulation in sovereign debt markets – in particular of credit default swaps – in the wake of the Greek crisis
Brown sets March 24 date for Budget
Gordon Brown has confirmed the Budget will be held on March 24 in what is expected to be his government’s last major political event before the start of the general election campaign
Tullett Prebon shares soar on bid approach
The group, headed by Terry Smith, is the largest government bond broker in Europe and has said it is likely to benefit further from any crisis in European sovereign debt
Northern Rock losses halve to £139m
Gross government lending to state-owned lender rises by £8.5bn to £22.8bn but the group’s underlying loss falls in second half as it splits into ‘good’ and ‘bad’ banks
Europe cries foul over US defence tender
European countries have accused Washington of foul play after the continent’s largest aerospace and defence company pulled out of a multibillion-dollar race to supply the US military, alleging unfair competition
Weber dubs EMF idea a ‘sideshow’
Germany’s proposal for a European Monetary Fund to bail-out crisis hit countries has hit stiff opposition from the country’s Bundesbank, which warned the initiative could prove a damaging distraction
Equities rally fades as caution sets in
Global Markets Overview: With fears over eurozone fiscal difficulties easing, traders are scratching around for fresh catalysts but have found little in the way of macroeconomic or corporate data
Ulster Unionists resist pressure on devolution vote
Northern Ireland’s second-largest pro-British party which has an electoral pact with the Conservative party, looks set to vote against the transfer of policing and justice powers
Sanofi and Merck to combine animal divisions
French and US pharmaceutical groups agree to join their animal health operations, creating a joint venture with nearly $5.3bn in annual sales
Trade gap widens despite weak pound
The UK’s trade deficit in goods widened in the three months to January as imports rose more quickly than exports, in spite of a near 30 per cent drop in the pound since the beginning of the financial crisis
Lord Paul to relinquish ‘non-dom’ status
Lord Paul, the Labour peer and donor whose ‘non-dom’ status was highlighted in the political row over Lord Ashcroft, has said he will pay full UK taxes from next year
Shanks shares tumble after sale talks end
Shares in Shanks tumble after talks with Carlyle for the private equity group to buy the waste management group end after the two sides fail to agree a price for the deal
Beijing says it will keep buying US debt
China’s investments in US Treasury bonds are continuing ‘every day’ and should not be politicised, according to the head of China’s foreign exchange administration, which manages $2,400bn in forex reserves
Colony Capital to take over Leibovitz’s loans
Annie Leibovitz, the celebrity photographer, is turning to Colony Capital, a private equity firm better known for its real estate investments, for loans to help clean up her finances


