Financial Times

IKEA SHELVES INDIAN RETAIL MOVE

Sweden’s IKEA, the world’s biggest furniture retailer, is
withholding its entry into India in spite of New Delhi’s move to
open its market to foreign retailers as the Swedish homewares
company accelerates its expansion in other Bric countries.

PEACOCKS TO PERSIST IN SEARCH FOR A BUYER

Private equity firms and buy out groups are preparing to bid
for Peacocks, the distressed British fashion retailer which
collapsed into administration last week.

LENDERS SHOW FAITH IN NOKIA SIEMENS

Nokia Siemens Networks has raised more than 1.2
billion euros of finance from a consortium of 14 European and
U.S. banks in a vote of confidence from the lending market in
the troubled telecoms equipment maker’s strategic overhaul.

SIERRA LEONE DIAMOND MINER SET FOR HK LISTING

The diamond industry’s race to public markets is
accelerating, with plans by Beny Steinmetz Group, the
privately-held natural resources company, to float Sierra
Leone’s biggest diamond mine on the Hong Kong stock exchange.

TURKISH MEDIA GROUP ATTRACTS FOREIGN INTEREST

News Corp, Time Warner and Texas Pacific
Group are among five foreign companies expected to show interest
in assets belonging to Turkey’s second-biggest media group this
week, but international bidders have doubts about the $700
million to $1.25 billion auction process leading to a sale.

EU PLANS RAISE HOME FORECLOSURE RISK

UK homeowners could face higher mortgage costs and find
themselves at greater risk of foreclosure as early as next year
because of an obscure clause in the bank capital directive being
worked on by the European parliament.

CHINA INVESTORS SET THEIR SIGHTS ON HOLLYWOOD

A consortium led by Chinese media entrepreneur Bruno Wu is
scouring Hollywood for film companies to acquire, in a sign of
China’s growing interest in the U.S. entertainment industry.

VOVLO SEEKING SMALL CAR PARTNER

Volvo is looking for a partner to share
development of its future compact models, according to its chief
executive.

PARIS AND BERLIN SEEK TO DILUTE BANK RULES

France and Germany are to call for a relaxation of global
bank capital rules to prevent lending to the real economy being
choked off, setting them at odds with the UK’s stricter approach
to banks.

NETWORK RAIL SEEKS LINK WITH TRAIN OPERATOR

Britain’s Network Rail is in talks with the operator of
South West Trains to form a joint management team for the
franchise, in the biggest step towards integrated running of
track and trains since the roles were split when British Rail
was privatised in the mid-1990s.