The 6am Cut London | FT Alphaville

The 6am Cut London

– Apple’s big news: An announcement will be made at 9am EDT concerning the company’s almost-$100bn cash pile. Analysts are expecting a dividend of as much as $14.75 a year although Bloomberg says about $8/year would be consistent with other big tech companies. A share buyback is also considered a possibility. (Bloomberg, Reuters)

Lagarde praises China’s economy, but says slowing growth is a ‘special concern’. (Wall Street Journal)

Greece is ‘more than halfway’ to recovery, says Papademos. However the caretaker PM admitted the country would need more help if it couldn’t return to debt markets by 2015. He also says a silent majority of Greeks are willing to do whatever it takes to stay in the eurozone, despite the protests (Financial Times)

– David Cameron is set to announce a plan that could see Britain’s trunk road and motorway network sold to the private sector on long leases, based on the water industry model. (Financial Times)

New bank hedging tool for hedging banks’ UK holdings: BarCap, HSBC, Lloyds, Nomura and UBS are together launching a new derivatives market to offset the risks of holding UK government bonds and short-term loans. The derivatives will be based on Ronia, which the banks believe is a better match for UK bonds and loans than Libor. (Financial Times)

– UPS has agreed a deal to buy its European rival TNT Express in a takeover that is likely to value the Dutch delivery company at about €5bn, people familiar with the talks said. (Financial Times)

A £1.3bn bid for Misys is being prepared by Vista Equity Partners, according to sources. Such a deal would be worth 350p/share versus 329.5p in Friday trade, however a bid may not materialise before the deadline of Monday’s market close. (Bloomberg)

RBS is making a bigger proportion of its loans to small business owners. Shareholders not necessarily happy.  The bank had a 90% approval rate by the end of 2011 compared with about 80% among its peers. (Financial Times)

New Bumi plc executive chairman plans to simplify the company, possibly by rolling some of his own assets into it (Financial Times)


Munchau: The ECB’s Ltro has not ‘bought time’ for Spain (Financial Times)

The US Treasury made a $25bn profit on mortgage debt. The last of its bonds acquired in the 2008-09 crisis were sold last week. (Wall Street Journal)

Where on Wall St do women earn more than men? Answer includes shoe shining… (Bloomberg)

Hungary’s business elite and the ruling Fidesz party (Reuters)

High-speed construction of skyscrapers in China (New York Times)


Asian markets higher, except in Shanghai, but gains subdued by weak US data on Friday.