What the other papers say this morning – 31 March 2014
FINANCIAL TIMES
SocGen accused over Libya deals
The Libyan Investment Authority has accused Société Générale of helping to funnel bribes worth tens of millions of dollars to close associates of Saif al-Islam, the son of former Libyan leader Muammer Gaddafi. The claim was made in a $1.5bn lawsuit filed against the French bank in London’s High Court.
Glencore closer to iron ore ambition
Glencore has cleared a key hurdle in its ambition to become an iron ore miner, reaching a preliminary deal with the west African country of Mauritania for a $1bn contract for access to railway and port facilities. The commodities giant is keen to expand into iron ore, a key ingredient of steel and a vital source of profits from rivals Rio Tinto, BHP Billiton and Vale of Brazil. The trader is seeking to develop three big projects in Mauritania, two with state-controlled miner Société Nationale Industrielle et Minière.
McDonald’s warns of workforce cliff
McDonald’s has warned that Europe faces a future of stunted growth unless employers do more to bring marginalised groups such as young people and older workers into the labour force. David Fairhurst, chief people officer at McDonald’s Europe, said the fast-food chain, which employs 425,000 people in 38 European markets, was already starting to feel the effects of what he called the workforce cliff.
THE TIMES
Clothes group joins fashion for floats
A little-known Israeli suit designer that supplies some of the British high street’s biggest names plans to be the latest retailer to float in London.
Bagir Group, whose clothes are sold in John Lewis and Arcadia shops, hopes to raise £21m when it lists on the Alternative Investment Market on 14 April.
Health groups set for legal fight
HCA International and BMI, two of Britain’s leading private healthcare providers, are preparing legal action to challenge a competition ruling this week that could order them to offload nine of their most valuable hospitals.
The Daily Telegraph
Paper owner would sell for right offer
The owner of the Independent newspaper has admitted that it could be sold if a buyer “offers the right price”. Evgeny Lebedev – who also owns the i, Independent on Sunday and Evening Standard with his father Alexander – confirmed he would consider selling off the ailing daily, which has long struggled with declining circulation and low revenues.
Gold rush in Japan before tax rise
Sales of gold bars are soaring in Japan as buyers rush to invest in the precious metal ahead of this week’s controversial sales tax rise from five per cent to eight per cent.
THE WALL STREET JOURNAL
EUROPE
Regulators failed to open GM probes
Congressional investigators looking into why General Motors took nearly a decade to recall vehicles with faulty ignition switches said yesterday that federal regulators twice declined to open formal investigations into complaints about the cars, while GM rejected a proposed fix for the problem in 2005.
A low bar for some new antibiotics
The Food and Drug Administration’s efforts to speed approvals of drugs to fight antibiotic-resistant bacteria will be in the spotlight today as the agency considers two new antibiotics.