Weekend news catch-up

Weekend headlines from the FT and other UK media:*

From The FT,
-       Spain was forced to inject emergency liquidity into Bankia after it reported a €4.4bn loss. Regulator Frob did not specify how much would be provided.
-       China agrees deal to establish Taiwan as a centre for processing offshore renminbi transactions.
-       Glencore and Xstrata’s $70bn merger plans were dealt further blows this week as several prominent investors in the mining company said they will vote against it
-       Ulster Bank customers affected by a month-long computer systems failure have been offered a compensation payment of €25, with the package expected to cost the bank €35m
-       Nomura is to slash another $1bn in costs in the second major restructuring of its loss-making overseas operations in less than a year

From The Sunday Times,

-       A syndicate of banks is preparing to take control of the publisher of Yellow Pages after losing patience with management’s attempts to get to grips with heavy debts.
-       British Airways’ owner, IAG, is manoeuvring to become a cornerstone investor in a new American mega-airline, signing a confidentiality agreement that will give it access to the books of American Airlines
-       Universal Music’s fraught takeover of EMI is set to get the green light from Brussels this week. However Universal will be forced to sell Parlophone, the record label behind Kylie Minogue and the Beatles
-       Bill Gates is facing a £20m loss from the demise of JJB, if it fails to find a rescue buyer in the next few weeks
-       The two founders of investment funds broker Hargreaves Lansdown are in line for dividend payouts totalling about £40m after the company unveils its results this week.
-       Small shareholders in Victoria Carpets will this week be asked to rally behind the Chairman, Katherine Innes Ker, and stop a scion of the founding family and his business partner seizing control

From The Sunday Telegraph,
-       FSA turns attention to former Barclays chief John Varley in inquiry into unorthodox payments to Qatar’s sovereign wealth fund
-       Ryanair CEO Michael O’Leary will this week accuse airports operator BAA and its regulator of inflating the value of Stansted airport with accounts straight out of “Noddy land”
-       The OECD has waded into the dispute over emergency measures to prop up Spain and Italy, backing plans for the CB to buy up debt of struggling eurozone nations
-       Britain’s biggest technology investors have warned Apple not to risk completely fracturing its relationship with Samsung in the wake of its sweeping patent victory over its rival
-       Channel 4 may have come under fire for showing too many advertisements during the Paralympic Games – but the broadcaster will still lose money on its coverage
-       Jon Moulton’s company Better Capital has been granted access to the data room of JJB Sports, after rescuing fashion chain Jaeger earlier this year
-       Kurt Geiger, Britain’s third largest shoe retailer, is to turn its back on UK expansion in favour of overseas growth as a result of high rents and unsustainable levels of business rates that it claims are “killing UK retail”
The Questor Column:
-       APR Energy has a lot to prove: Questor Says “Hold”.
-       Perform’s winning ways make it one to watch: Questor Says “Avoid”.

From The Independent on Sunday,
-       Britain’s Paralympics stars are being urged to show solidarity with the thousands of disabled people facing benefits cuts as a result of medical tests carried out by the controversial Games sponsor Atos
-       Steve Morgan, the Chairman of Redrow, triggered a rally in housebuilding shares as he tabled a £562m proposal to take the company he founded nearly 40 years ago private

From The Guardian,
-       Nokia and Microsoft pin hopes on new handset as smartphone wars intensify: Apple and Motorola set to launch new phones as competition heats up ahead of the most lucrative Christmas yet
-       High speed rail routes bring benefits too, insists head of HS2: Alison Munro says those in favour of the controversial London-Birmingham line have been forgotten, and that noise and blight will be less damaging than feared

From The Mail on Sunday,
Broker Views:
-       Petropavlovsk: HSBC initiates the stock with “Overweight” rating and a target price of 730.00p
-       Marshalls: Numis Securities Ltd maintains a “Buy” rating on the stock, with a target price of 110.00p
-       Hunting: HSBC maintains a “Overweight” rating on the stock, with a target price of 1060.00p

From The Sunday Express,
-       Girl-friendly lego proves a sensation: A new Lego set targeted at girls has proved a hit despite facing criticism for fuelling gender stereotypes, boosting the toymaker’s first half profits by 35%
-       Bwin.party said strong takings from casino and sport betting helped it boost first half profits by 13% to £73.1m, slightly above market hopes. But poker revenue declined across Europe in the face of strong competition from resurgent rival PokerStars

*Source: ETX Capital, Financial Times