WHAT THE OTHER PAPERS SAY THIS MORNING
Rockefellers and Rothschilds unite
Two of the best-known business dynasties in Europe and the US will come together after Lord Jacob Rothschild’s listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership.
Kleinwort parent pressured to spin off assets
The parent company of Kleinwort Benson, one of the oldest names in British banking, is facing pressure from activist shareholders to break itself up and spin off all its assets. Disgruntled shareholders have written to the company’s directors to demand an extraordinary dividend that would in effect abort its plan to create a larger banking franchise around Kleinwort.
WPP chief faces investor revolt over pay
Sir Martin Sorrell, chief executive of WPP, faces a shareholder revolt over his pay after an influential advisory firm recommended investors in the advertising group vote against its board remuneration policies.
Red tape could force exodus from China
European companies operating in China are threatening to leave because of a quagmire of unfair restrictions and opaque regulations.
Everything Everywhere gets smart with staff
Britain’s largest mobile phone network is to retrain its 12,000 customer services staff to become experts in smartphone operating systems.
The Daily Telegraph
Lotus owner reassures UK workers
The Malaysian owner of Lotus has given a vote of confidence to the car maker’s 1,200 UK workers and insisted it has no plans to sell the company. The comments by DRB-Hicom Berhad are the first since it suspended Dany Bahar as chief executive of Lotus at the end of last week.
Half of firms to refuse workers extra flexibility during Olympics
Half of employers are not planning to allow staff greater flexibility during the Olympic Games, according to research.
THE WALL STREET JOURNAL
Wells Fargo to pay $7.5m to end race-bias suit
Wells Fargo & Co. reached an agreement to spend $7.5m in Memphis and Shelby County in Tennessee in exchange for the city and county dropping a foreclosure-related race-discrimination lawsuit.
In China, Kraft craves snacks business
Kraft foods is hoping Ritz crackers that taste like beef stew and Oreos that taste like birthday cake will help it reverse its trailing position in China.