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Sunday Papers: Barclays in £1.7bn profit lift

And Rich Ricci, head of Barclays’ investment bank, has ruled himself out of the running to replace Bob Diamond.

Sunday Papers: Barclays in £1.7bn profit lift

Top stories

  • The Sunday Telegraph: Rich Ricci, head of Barclays’ investment bank, has ruled himself out of the running to replace Bob Diamond; the bank this week is expected to announce second-quarter profits of £1.7 billion.
  • The Sunday Telegraph: Rupert Murdoch has resigned as a director of a string of companies behind The Sun, The Times and The Sunday Times, fuelling expectations that he is preparing to sell the newspaper group.
  • The Independent on Sunday: Pressure on Lord Green, the trade and investment minister, to explain his role in the HSBC money-laundering scandal escalated last night, after documents showed he attended a meeting with senior bank staff at which "Iranian payments" were discussed.
  • The Independent on Sunday: BSkyB will report a record pre-tax profit of around £1.1 billion on Thursday despite concerns that demand for satellite dishes is slowing.
  • Mail on Sunday: Billionaire fashion retailer Sir Philip Green has revealed plans to expand his Topshop-to-Dorothy Perkins empire into a global operation.

Business and economics

  • The Sunday Telegraph: HMRC is facing fresh claims over tax avoidance after allegations that Britain’s £22 billion recruitment industry is riddled with a multi-million-pound “avoidance” scheme.
  • The Sunday Telegraph: A shadow treasury minister has written to Lord Green, trade minister, demanding answers about HSBC’s money laundering problems in America and Mexico.
  • The Independent on Sunday: The European Commission is set to make interest rate-rigging a criminal act in the wake of the Libor scandal.
  • The Sunday Telegraph: Lloyds Banking Group is set to signal that it will bring forward the “ring-fence” separation of retail and investment banking ahead of the 2019 deadline.
  • The Sunday Telegraph: Official figures are expected to show that Britain's economy has shrunk for a third successive quarter.
  • The Independent on Sunday: Centrica is set to announce a huge jump in first half profits at its British Gas domestic supply arm.
  • The Sunday Telegraph: Soaring levels of executive pay should be made more transparent and linked increasingly closely to long-term incentives, The Kay Review of Equity Markets and Long-Term Decision, launched by the Business Secretary, Vince Cable, last September, will demand.
  • The Sunday Telegraph: The euro is “irreversible” and the beleaguered currency union is not in danger of collapsing, according to European Central Bank President Mario Draghi.
  • The Independent on Sunday: Bookies are predicting a £50 million bonanza from the London Olympics as punters take to betting on the Games for the first time.

Share tips, comment and bids

  • The Sunday Telegraph: Luke Johnson, the entrepreneur who made his name running Pizza Express, is thought to be considering an investment in Gordon Ramsay’s restaurant company.
  • The Sunday Telegraph: Andy Haste, the former chief executive of RSA Group, is leading a private equity consortium looking to bid for insurer Direct Line Group.
  • The Independent on Sunday: Virgin Atlantic poised to appeal the EU decision to allow IAG's purchase of Bmi to pass so easily.
  • The Sunday Telegraph (Comment): Invest in a solution to the global food crisis, not its symptoms - for the third time in five years, the world is braced for a food crisis.
  • The Sunday Telegraph (Comment): Having shown the eurozone a lot of latitude, the rest of the world - particularly America - is on the brink of losing patience.
  • The Sunday Telegraph (Comment): Lloyds Banking Group may not exactly be Apple but among competitors, chief executive Antonio Horta-Osorio at least enjoys some un-occluded vision.
  • The Sunday Telegraph (Comment): SGX may not yet be ready to commit to a full-blown marriage with LSE, but that does not mean further moves towards unity will not be forthcoming.
  • The Observer (Comment): With GDP figures due out this week, the chancellor is likely to blame the jubilee, but this might be the last time he can pin the downturn on the Windsors.
  • The Observer (Comment): G4S shows the truth about the private sector – the Olympics fiasco is just the latest example of the chronic failure of private enterprise to deliver when it really matters.
  • The Observer (Comment): A fresh surge in food prices could tie the hands of economic policymakers around the world.
  • The Independent on Sunday (Comment): There is a growing recognition that a break-up of banks such as Barclays between retail and investment banking is the way to make things safer.
  • Mail on Sunday (Comment): Having secured a rock bottom price of £350 million for buying 632 branches from Lloyds, Co-op is about to enter the big league.
  • Mail on Sunday (Comment): There is no doubt that the country’s pensions industry is under pressure like never before to come clean on charges. The momentum for greater transparency and improved value for money is gathering pace.
  • Mail on Sunday (Comment): Having secured a rock bottom price of £350 million for buying 632 branches from Lloyds, Co-op is about to enter the big league.

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The Expert View: Debenhams, Ferguson & Footasylum

by Michelle McGagh on Jun 20, 2018 at 05:30

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