Media Bites: Sunday Independent - Koch Industries buys Sligo medical device manufacturer Protek Medical
Koch Industries, the US industrial empire run by controversial billionaires David and Charles Koch, has bought Sligo medical device manufacturer Protek Medical. The brothers, who are major donors to conservative US political causes, bought Protek via a subsidiary, Molex. Protek employs 180 people at facilities in Sligo and Galway.
Nearly three years after a then-record fine against Barclays sparked a global outcry over the manipulation of benchmarks and billions of dollars in fines, the first trader to face prosecution over allegations that he was involved will go to trial in London. Tom Hayes, a former UBS and Citigroup trader, will appear at Southwark Crown Court accused of conspiring with individuals at eight banks and two interdealer brokers over a four-year period.
International investors have been warned that a dangerous stand-off between the banks and Government over the cost of mortgages could derail the lenders' recovery plans. In a briefing note to Bank of Ireland investors, HSBC warned of the dangers of political interference in the banks' commercial decisions. The banks are in a "very difficult position" because of the pressure to cut interest rates, HSBC said.
Sunday Business Post
The State's competition watchdog is to intensify its probe into the Irish cement industry in the coming weeks, demanding detailed information from a number of parties in the sector about alleged anti-competitive practices. The Competition and Consumer Protection Commission (CCPC) intends to write to a number of companies in the sector as it builds its case about practices in the industry.
The watchdog has already searched offices controlled by CRH in relation to the probe.
Vodafone is being urged by its biggest shareholders to sell off its far-flung networks and embrace a £120bn merger of its European business with Liberty Global, the cable company behind Virgin Media and controlled by the US billionaire John Malone. Some of Britain's biggest investors, with stakes in Vodafone worth billions of pounds, would support a plan to offload networks in countries such as India, Turkey and South Africa to make a deal with Mr Malone possible.