WHAT THE OTHER PAPERS SAY THIS MORNING
FINANCIAL TIMES
BURBERRY LOOKS TO WIN OVER FRIENDS ONLINE
Burberry, the fashion brand that has gone from classic to cutting edge, is to launch its own social networking site next month. The clothing group hopes the move will deepen its relationship with customers and attract new devotees. Called artofthetrench.com, the site will initially feature users sending in pictures of themselves wearing Burberry trenchcoats.
CARLYLE REVISITS PUBLIC LISTING
Carlyle has resumed deliberations about a possible public listing, people familiar with the matter say, underscoring the growing confidence of private equity firms as conditions in the financial markets improve.
Any initial public offering by Carlyle would be at least six to nine months away, these people said, and the firm has not reached a decision yet on whether to list its shares. Carlyle said that “nothing substantive” is happening now.
COMPANIES URGED TO COURT LONG-TERM INVESTORS
European companies need to improve communications with long-term institutional investors to stop them switching out of equities into other assets, says a trade association. EuropeanIssuers, which represents 9,200 listed companies in Europe, said average long-term institutional investors in Europe hold only 25 per cent of their portfolios in equities, compared with 45 per cent before the financial crisis in August 2007.
BP GETS OUT OF INDIAN WIND FIRM
BP has sold its Indian wind business for about $95m (57.6m), confirming its decision to focus its wind power operations on the US. The buyer is Green Infra, an independent electricity generator, backed by IDFC.
THE TIMES
BRITISH AIRWAYS’ CABIN CREW URGED TO ‘HOLD FIRM’
Union leaders have told British Airways cabin crew to “hold firm” against the airline’s attempts to cut their pay and change their contracts. In a message to BA’s 14,000 cabin crew, the British Airlines Stewards and Stewardesses Association (BASSA), the union, said that this was was not the time to cut a deal. BA has been in talks since May over changes to the pay and conditions of cabin crew.
MANDELSON TO SHELVE LAWS AIMED AT CUTTING BINGE DRINKING
Measures to curb binge drinking top a list of regulations to be shelved in the latest U-turn forced on Labour by the economic downturn. New laws to improve rights for agency workers are also likely to be delayed as part of a clear-out of “anti-business” measures.
The Daily Telegraph
ROLLS-ROYCE SET FOR KEY ROLE IN UK NUCLEAR PROJECT
Rolls-Royce is set to play a key role in the revival of Britain’s nuclear industry after revealing plans to collaborate with EDF Energy on the construction of four new power plants. Rolls Royce will provide engineering and technical support to EDF under proposals agreed in a memorandum of understanding with the utility group.
BAE ENDS LINK WITH THE LANCASTER BOMBER
BAE Systems’ Woodford site, which played a key role in the testing of the Lancaster bomber during the Second World War, is to close. The aircraft was Britain’s premier heavy bomber during the war. Most were made by Avro, one of the famous UK manufacturing companies that became part of BAE Systems on the merger of British Aerospace and Marconi Electronics.
WALL STREET JOURNAL
BAUCUS UNVEILS $856BN HEALTH-CARE LEGISLATION
Senate finance committee chairman Max Baucus formally unveiled a 10-year, $856bn bill that would extend health insurance to tens of millions of Americans but that found lukewarm support among other key senators, indicating changes to the measure are in store.
FARMERS WANT INDUSTRY PROBE
A group of dairy farmers is slated to meet with antitrust enforcers Thursday in Washington, and Christine Varney, chief of the Justice Department’s antitrust division, is scheduled to appear Saturday at a Vermont hearing of the Senate Judiciary Committee, which is populated with several Democrats from big dairy states such as Wisconsin, Minnesota and New York.