Thursday Papers: Goldman warns Europe on regulation - other news

Financial Times

* Lloyd Blankfein, chief executive of Goldman Sachs, has issued a clear warning that the bank could shift its operations around the world if regulatory crackdown on the industry becomes too tough in certain jurisdictions.

* The failure of Anglo Irish bank, the lender at the centre of the country’s financial crisis, would “bring down” Ireland, the country’s finance minister said.

* Regulators have accidentally spread financial instability by forcing investors to react instantly to downgrades in sovereign credit ratings, says the International Monetary Fund.

* Zong Qinghou, the Chinese soft drinks magnate famous for tackling the French Danone group in China’s highest-profile foreign investment dispute, has been named the mainland’s richest man with a personal fortune of $12 billion.

* European banks are becoming safer in the wake of the financial crisis but rising funding costs could prompt some institutions to revert to risky business practices to boost profits, the European Central Bank has warned.

* Nintendo has said it will be unable to deliver the 3D version of its DS portable games console in time for the Christmas shopping season.

* Germany has joined forces with France in an effort to block new European Union hedge fund regulations, which could allow funds and managers outside the 27-bloc to obtain pan-EU marketing rights or a “passport".

* Gilts see record international buying amid rising expectations that the Bank of England will start printing money again to kickstart the faltering economic revival.

* The UK Treasury has commissioned a study into the practice in markets of ultra-fast automated trading.

* Once-fertile Gulf proves a fundraising desert.

* The London Stock Exchange’s battle to stop the erosion of its share of trading in UK blue-chips at the hands of smaller rivals has started to bear fruit with signs that its market share has stabilised.