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WireTap 1400 04/04/12

A round-up of the key stories across the specialist financial media, including news that Spanish borrowing costs rose sharply after a disappointing debt auction failed to reassure investors

Spanish bonds hit by poor auction 

Spanish borrowing costs rose sharply on Wednesday after a disappointing auction of the country’s debt failed to reassure investors already nervous about plans for the deepest budget cuts in the post-Franco era. 

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Pound rises to two-week high versus euro as services accelerate

The pound strengthened to the highest in two weeks against the euro as reports showed UK services growth unexpectedly accelerated last month and house prices increased. 

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US Airways pushes merger

US Airways Group Inc has told some American Airlines creditors that merging the two carriers could yield more than $1.5 billion a year in added revenue and cost savings, said people familiar with the matter, as it courts support for its push to combine the companies. 

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Sony names new head of mobile business

Sony Corp tapped one of chief executive Kazuo Hirai's top deputies to run its newly formed mobile-phone business, a key facet of the company's efforts to regain its footing in the consumer-electronics industry. 

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New Delhi heaps pressure on Coal India

India issued a rare presidential decree demanding that Coal India, the world’s largest coal miner by production volumes, sign an agreement to increase supplies to the country’s power groups, in an effort to boost electricity generation and reduce blackouts.

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