The 6am Cut London | FT Alphaville

The 6am Cut London

News Corp under new pressure from piracy allegations. Reports that subsidiaries sabotaged TV competitors in both UK and Australia. (Reuters)

Oil price panic overstated? Some commodities watchers are arguing that prices will fall below triple-digit levels, because contracts for delivery in three to five years’ time are trading at their biggest ever ­discount to spot prices. (Financial Times)

Senior executives within Goldman Sachs have talked about splitting the roles of chief executive officer and chairman, according to sources. (Reuters)

A fraud claim against UBS over mortgage products has been dismissed in New York. The case, brought by HSH Nordbank, argued the CDO it bought from UBS contained bonds deliberately selected for their higher risk levels. (Financial Times)

Sony won’t invest more in its LCD TV joint venture with Sharp. Sharp on Tuesday sold half of its 92.96% stake in the venture to a Taiwanese company, Hon Hai Precision Industry, to help it deal with a build-up of inventory. (Wall Street Journal)

BoJ rules out a Fed-style ‘operation twist’. (Reuters)

BATS IPO fallout: Ratterman is stripped of chairman title, but gets unanimous support to continue as CEO. The board won’t re-attempt an IPO for at least another quarter, according to sources. (Bloomberg)

Apple offers Australian iPad refunds after consumer watchdog mounts legal action over ‘4G’ advertising. (BBC)

Gupta had eight co-conspirators, prosecutors allege. (Financial Times)

– MF Global won praise for its risk-handling from Promontory Financial. It really did. (Financial Times)


Greece’s fringe parties surge amid bailout ire. (Wall Street Journal)

The baby boombers should pay it forward, John Kay says. (Financial Times)

The LTRO’s dark side. (Financial Times)

– Two disturbing US mid-flight incidents – involving airline staff – in one month. (Bloomberg)

Shock: Americans keep buying petrol despite high prices! (New York Times)

The Children’s Investment Fund takes on India. (Financial Times)

– The Nikkei is the best performing developed-world index in 2012. (Bloomberg)


Asian stocks were lower after Bernanke comments on US jobs and poor companies results in China and Hong Kong. [more]