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Tuesday newspaper round-up: Aviva, BAA, BP
Wed, 08 Feb, 2012
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Tuesday newspaper round-up: Aviva, BAA, BP
Tue, 17 Aug 2010, 05:43:00
Leading <b>Aviva</b> shareholders are to press the UK insurer to reconsider its dismissal of a £5bn ($7.8bn) offer from rival <b>RSA</b> for its UK, Ireland and Canada general insurance business. The two insurers opened up a war of words after RSA responded to Aviva's confirmation on Monday of the dismissal with a public declaration of its value, writes the FT. The threat of disruption to airline passengers over the August Bank Holiday weekend lifted tonight when the Unite union and <b>BAA</b>, which owns Heathrow and five other airports, reached agreement on a pay deal for essential firefighters and security staff. Unite said it would over the next three weeks ballot staff on the deal writes the Times. <b>BP</b> has raised $5bn in new loans by pledging revenues from oil sales for the first time in a bid to bolster its liquidity in the wake of the Gulf of Mexico spill. The new financing is the latest effort to diversify its sources of funding and shore up liquidity, people close to the process said. The proceeds will be used for general corporate financing rather than as financing for a $20bn escrow fund to pay for damages caused by the spill, according to the FT. The head of <b>Nomura</b> in Europe has received a payoff of almost £22 million in one of Britain's biggest severance settlements. The payout to Sadeq Sayeed, who was chief executive of Nomura International for only 16 months and continues to act as an adviser to the bank, may provoke anger in Nomura's home country of Japan, where such settlements are frowned upon, the Times reports. <b>Barclays</b> on Monday reached a $298m settlement with US prosecutors that allows the bank to close the lid on an investigation into its business dealings with individuals linked to Cuba, Iran, Libya, Myanmar and Sudan. The investigation relates to transactions worth $500m undertaken by Barclays between March 1995 and September 2006, which are alleged to have involved the bank removing details from payments to hide the identity of the countries of origin, the Telegraph says. <b>Petrol retailers</b> have fired a "warning shot" to the coalition Government to stick to pre-election pledges over rising road fuel prices. RMI Independent Petrol Retailers Association, which represents two-thirds of the country's 9,000 forecourt sites, has written to the Prime Minister asking him to "urgently" set up a working party of Government and industry to tackle the issue, according to the Telegraph. Plans by <b>Vedanta Resources</b> to build a bauxite mine in the Indian state of Orissa were dealt a new blow yesterday when a government-appointed panel advised against the project. The Saxena panel was appointed by New Delhi to investigate claims that the mining giant's proposed excavations in the Niyamgiri hills would destroy the lifestyle of the Dongria Kondh tribe, the Independent reports. <b>Lloyd Blankfein</b> cashed in a $6.1m (3.9m) profit on options he received 10 years ago as part of a $23m windfall shared by five of Goldman Sachs' leading executives. Mr Blankfein, chairman and chief executive of the Wall Street bank since 2006, and his senior colleagues reaped the rewards through exercising their rights to buy shares - known as options - handed to them over the past decade, writes the Telegraph. Ahead of new official <b>inflation</b> figures being published today, a report has revealed that prices of basic foods are far outstripping inflation. Figures from mySupermarket.co.uk show that the cost of staples such as flour and rice has soared over the past three years, with pasta and noodles up by more than half, the grocery comparison site said. Rice has climbed 59 per cent while flour is up 58 per cent and pasta is up 51 per cent, says the Independent.
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