first_img Wednesday 15 December 2010 9:04 pm Tags: NULL WHAT THE OTHER PAPERS SAY THIS MORNING FINANCIAL TIMESSIENNA MILLER CLAIMS REIGNITE HACKING ROWLawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE FUNDMorgan Sze, the global head of Goldman Sachs’ biggest proprietary trading desk and one of the bank’s most highly paid employees, has begun raising money for what is expected to be the largest hedge fund launch since the financial crisis began. Sze’s new hedge fund – eagerly anticipated by many in the industry – is to be called Azentus Capital and will based in Hong Kong.CHINA BANK TO LAUNCH FUND OF FUNDSChina Development Bank, the state-owned lender that owns part of the UK’s Barclays Bank, is set to launch the country’s first private equity fund of funds in a sign of how rapidly the Chinese private equity industry is maturing. With direct approval from the State Council, China’s cabinet, the fund of funds is scheduled to raise a total of Rmb60bn ($9bn), providing a huge boost to the burgeoning domestic private equity sector.HYUNDAI PREPARES TO RELAUNCH BRANDHyundai Motor is preparing to relaunch its brand as “modern premium” in line with the South Korean carmaker’s growing confidence and global Hyundai and its sister brand Kia will this year produce more than 6m vehicles, up about 20 per cent on 2009, and will be the industry’s fifth-largest carmaking group.THE TIMESINFLATION IS THE BIGGEST ENEMY, WELLCOME TRUST WARNS BANKBritain’s richest charity and one of its most successful investors gave warning yesterday that the country is facing its biggest inflationary threat for 20 years and disclosed that it had abandoned bond investment as a consequence. Wellcome Trust, which has amassed a £14.5bn investment fortune, said that it had sold its last bond in April as it positioned itself for a rise in inflation.COVENTRY TO BE THE HOME OF TATA’S ELECTRIC CARDreams of making Britain the worldwide hub of the electric car revolution have been boosted by Tata, which pledged its plug-in hatchback would be produced in Coventry. The Indian carmarker confirmed the Tata Vista EV will be built in the spiritual home of the British motor industry.The Daily TelegraphPIMCO RAISES US DEBT HOLDINGSBill Gross, who runs the world’s biggest bond fund at Pimco, last month raised holdings of US government-related debt for the first time since June. Gross increased the proportion of the US government and related securities in his Total Return Fund to 30pc of assets in November from 28pc in October.CLAIMS RGI IS USED AS PERSONAL BANK ARE MISLEADING, SAYS PROPERTY COMPANYThe Aim-listed Russian property company accused of being used as a “personal bank” for management has claimed the allegations against it are “misleading and unfounded”. RGI International was accused of bribery, nepotism and financial malpractice by Petr Shura, owner of 22.5 per cent of the company, in a stock market statement on Monday.THE WALL STREET JOURNALBANK OF AMERICA IN SETTTLEMENT TALKS OVER MORTGAGESBank of America, after vowing to fight requests that it repurchase certain loans, has begun potential settlement discussions with some of its largest mortgage investors. The 17-member group now in talks with the nation’s largest bank includes the Federal Reserve, Freddie Mac, BlackRock and Allianz SE’s Pacific Investment Management.DANNON SETTLES COMPLAINTS OVER YOGURT ADSDannon, one of the biggest promoters of probiotic foods such as Activia and DanActive dairy drinks, agreed Wednesday to pay $21m to settle state and federal investigations into allegations that the company’s claims for the health benefits of foods containing probiotics were exaggerated, or not properly supported. 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