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Monday Papers: Lagarde attacked over bank comments - money and other news
by Himanshu Singh on Aug 29, 2011 at 00:01
* European officials on Sunday accused the IMF managing director Christine Lagarde of making a “confused” and “misguided” attack on the health of Europe’s banks.
* The tax contribution of the Premier League’s 20 clubs is set to exceed £1 billion this season - an increase of more than a third over the past two seasons, according to accountancy firm Saffery Champness.
* Information technology companies are becoming reluctant to build big data centres in the UK because of uncertainties and additional costs created by the government’s carbon reduction commitments.
* The UK building society sector will continue to see one or two mergers a year as the mutual lenders face pressures from low profitability, says KPMG.
* Rebel investors at Healthcare Locums , the beleaguered medical recruitment company which suspended its shares six months ago, have claimed that they have enough support to block a controversial rescue refinancing aimed at relisting the shares on 13 September.
* Labour is seeking to embarrass the government by pushing for stop-gap rules to tighten controls on media ownership in the wake of Rupert Murdoch’s aborted attempt to take full control of British Sky Broadcasting.
* 60% of rigs contracted in the Gulf of Mexico are not working almost a year and a half after the Macondo disaster.
* Regulators are in danger of enabling BT to become the dominant provider of high-speed broadband infrastructure, Virgin Media has claimed.
* Ten specialist UK manufacturers have formed an unusual consortium in which they abandon the normal codes of commercial confidentiality, passing to each other contact details about customers and suppliers, with a view to building up sales for the group as a whole.
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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.