PRESS DIGEST – British business – April 1

The Daily Telegraph

IRELAND’S BIG BANKS FACE CALL FOR 24 BLN EUROS

Ireland’s four main banks will have to raise 24 billion
euros after the country’s central bank announced the results of
stress tests designed to repair market confidence it the
country’s financial system.

PRU DEFERS THIAM’S BONUS UNTIL 2014

Prudential (PRU.L: Quote, Profile, Research) has deferred part of its chief
executive’s bonus for three years in a move likely to appease
institutional shareholders following the collapse of its
takeover of AIA (1299.HK: Quote, Profile, Research) last year.

VODAFONE PAYS ESSAR 3 BLN POUNDS FOR INDIA STAKE

Vodafone (VOD.L: Quote, Profile, Research) has agreed to buy the Essar conglomerate
from its Indian business for 3 billion pounds, giving it direct
ownership of 75 percent of the country’s third-biggest operator.

The Times

ACER CHIEF GOES IN ROW OVER TABLETS STRATEGY

Acer (2353.TW: Quote, Profile, Research), the world’s No. 2 PC vendor, replaced its
chief executive after differences to counter the runaway success
of the tablet market, which has hit profits.

FED LENT BARCLAYS $1BLN DURING FINANCIAL CRISIS

Barclays (BARC.L: Quote, Profile, Research) drew emergency loans from the U.S. Federal
Reserve during the financial crisis, according to documents
released under the Freedom of Information Act.

The Guardian

PRU’S HIGHEST PAID EMPLOYEE GETS 8.4 MILLION POUNDS

Insurance company Prudential disclosed that Michael
McLintock, head of M&G, was paid 8.4 million pounds in 2010,
more than any boardroom director.

(Summary compiled by Reuters)

PRESS DIGEST – British business – April 1