WHAT THE OTHER PAPERS SAY THIS MORNING
FINANICAL TIMES
FRESH WOES FOR DE LA RUE OVER FRENCH OFFER
De La Rue first received an £820m takeover approach from François-Charles Oberthur Fiduciaire, a French banknote printing rival, as long as eight weeks ago, it emerged on Wednesday. The disclosure comes as the crisis-hit FTSE 250 company defends itself against criticism from some shareholders that it should have made public before Monday a subsequent £896m approach from Oberthur on November 10.
RICH SHOULD GIVE MORE TO CULTURE, SAYS MINISTER
The wealthiest Britons are being urged to join a “new generation” of cultural philanthropists after the government announced an £80m package to boost private giving to the arts.In the wake of spending cuts that have seen public funding to the arts slashed, Jeremy Hunt is looking across the Atlantic to find a new balance between public support and private giving.
BLAIR CALLED BACK BEFORE IRAQ INQUIRY
Tony Blair has been recalled before the Iraq Inquiry as Sir John Chilcot’s committee enters a final round of evidence gathering before publishing its report early next year. The former prime minister is one of a clutch of key figures that will be returning to answer questions, provide “more detail” and clarify issues that have arisen as Sir John’s team has drafted conclusions.
INVESTOR LOBBY GROUP JOINS
HERMES DEBATE
Deminor, the shareholder lobby group, has stepped into the governance debate between Hermes International and LVMH, to explain the stakebuilding in its smaller Paris-based rival.
THE TIMES
US SET TO CLEAR FIRST OBESITY DRUG IN DECADE
The first new anti-obesity treatment in a decade could be approved for widespread use within months. Contrave, made by American company Orexigen Therapeutics, includes an appetite suppressant and a component to prevent addiction. A Food and Drugs Administration committee recommended last night that the US regulator should approve it, despite concerns about its effect on the heart.
NEWS CORP IS TARGETING EDUCATION FOR GROWTH
News Corporation, the parent company of The Times, yesterday signalled its intention to “disrupt” the educational publishing market after identifying it as a growth opportunity. The company is examining ways of improving the way students absorb knowledge.
The Daily Telegraph
FORTUNE BREAK-UP COULD LEAD TO DIAGEO BID
Fortune Brands, the maker of Jim Beam bourbon and Titleist golf balls, will split itself up into three separate businesses after pressure from activist investor William Ackman, who has built up an 11per cent stake. The US-listed company will spin off its home and security division as a publicly traded company and sell or spin off its golf unit, fuelling speculation that its core liquor business could be targeted by predators, including drinks giant Diageo.
FSB: INCREASE VAT THRESHOLD TO CREATE JOBS
Up to 35,000 jobs could be created if the threshold at which small firms start to pay VAT was increased, says the Federation of Small Businesses (FSB) after a report by the Centre for Economics and Business Research.
THE WALL STREET JOURNAL
HEDGE-FUND VEHICLES FACE TEST
The ability of hedge funds to raise funds via the stock market will be tested this week as two vehicles from London’s Brevan Howard Asset Management and CQS Management list on the London Stock Exchange. The sector’s track record has been mixed, and analysts and people within the hedge-fund industry say the two offerings, each expected to raise a couple million dollars, should revive interest in listed versions of hedge funds and funds-of-hedge-funds.
NOBEL CEREMONY TURNS INTO
GLOBAL SHOWDOWN
A ceremony Friday to mark the award of the Nobel Peace Prize to Liu Xiaobo, a jailed Chinese dissident, is turning into a global showdown. China is preventing Mr. Liu, his family and friends from attending the ceremony in Oslo.