What the weekend papers said
Monday 02 July 2012
The Independent on Sunday: Glencore could pay £300m if merger fails
The commodities giant Glencore will be forced to hand over nearly £300m to the FTSE 100 miner Xstrata, should it walk away from the £50bn merger as a result of shareholder pressure. Advisers on both sides of the deal are also expected to lose well over £100m in fees, if Glencore's boss, Ivan Glasenberg, decides to abandon the merger rather than sweeten its terms.
The Sunday Times: Astra Zeneca in £2bn diabetes gamble
The pharmaceuticals giant AstraZeneca has splashed out more than £2bn on a portfolio of pioneering diabetes drugs. Simon Lowth, interim chief executive, struck the deal with rival Bristol-Myers Squibb. The swoop comes months after David Brennan, chief executive, quit amid investor discontent. Astra has been looking at acquisitions after many drugs under development in its own labs failed.
FT Weekend: Pressure to stiffen Vickers reforms
Lord Lamont, a past Tory Chancellor, and Lord Myners, ex-City minister, said the scandal over Barclays' fixing of the Libor rate showed a need for tougher legislation. The Chancellor, George Osborne, will have difficulty convincing some that Sir John Vickers' plans to ringfence retail banking from "casino" operations in investment banking go far enough. Lord Lamont said the Vickers plans should be revisited.
The Sunday Telegraph: Investors turn on Diamond
Two of Barclays' leading shareholders have demanded the removal of Bob Diamond, the chief executive, and Marcus Agius, its chairman, as the firestorm surrounding the bank intensifies. One investor dismissed suggestions that Mr Diamond is required to lead the bank out of its current problems: "No one is irreplaceable. It's necessary to take a very hard line. I would have thought the chairman should go immediately."
- 1 This restaurant has misunderstood the concept of 'cheese and biscuits'
- 2 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 The 'sex selfie stick' lets you FaceTime the inside of a vagina
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
PornHub turns masturbation into energy in bid to save the planet
Spiritual leader allegedly manipulated 400 men into removing testicles to be 'closer to God'
The 'sex selfie stick' lets you FaceTime the inside of a vagina
'This is what Islam tells us to do': A rare glimpse inside a Saudi Arabian prison – where Isis terrorists are showered with perks and privileges
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
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