Companies

New risk option for L&G property fund

Legal & General is to offer a novel approach to property fund management, allowing investors in a £1bn fund to choose the amount of debt that is associated with their investments

Lloyds pay plans are snub for investors

The Lloyds Banking Group presses ahead with controversial plans to pay executive directors up to 275% of salary in a long-term reward scheme, despite shareholder objections

UK hedge funds gain from bets on sterling

Some of the biggest funds made hundreds of millions of pounds by betting on a decline in the value of the currency this year in trades that suggest rising expectations of further falls

Sinopec urges curb on ‘corrupt’ foreigners

Asia’s biggest refiner has called on Beijing to crack down on corrupt foreign business practices in China after acknowledging that one of its employees received a bribe from German carmaker Daimler

Dubai unveils debt restructuring

Gulf markets rally after the emirate’s government announces a proposal for troubled conglomerate Dubai World, including a commitment to pump $8bn into Nakheel, its development arm

Chinese companies debate links with Google

A wave of Chinese businesses are reconsidering their ties with Google in the wake of the US internet company’s move to confront their government over internet censorship

ICBC seeks $3.6bn capital raising

The world’s largest lender by market capitalisation, announced plans to raise fresh capital to shore up its balance sheet, following an unprecedented state-directed lending spree last year

Deutsche Bahn in takeover move on Arriva

German rail group approaches Arriva about a potential takeover bid in a deal that values the UK transport group at about £1.2bn

Nomura picks first foreigner for its board

Nomura is to re-organise its non-retail operations and hand leadership of the global unit to a former top Lehman Brothers banker who had planned to leave the Japanese bank this month

Rio staff to face trial in China next week

The trial of Stern Hu and three other Rio Tinto employees detained nine months ago and later charged with stealing commercial secrets and taking bribes in China will begin on Monday in Shanghai