Citywire for Financial Professionals

View the article online at http://citywire.co.uk/money/article/a1101934

Sunday Papers: Blackout threat to Britain from Russia

And worldwide bidding battle sparked for Spencer's broking giant Nex.

 
Sunday Papers: Blackout threat to Britain from Russia

Top stories

  • The Sunday Times: Spy chiefs have warned the bosses of Britain’s key power companies to boost their security amid fears of a Russian cyber-attack that could put the lights out.
  • The Sunday Telegraph: A global bidding war is set to erupt for Nex Group, the financial technology giant created by City veteran ­Michael Spencer more than 30 years ago with two friends and a single trading screen.
  • The Sunday Times: Melrose has made a dramatic final pitch for GKN by promising to plough £1 billion into the engineering titan’s cash-strapped pension fund.
  • The Sunday Telegraph: The high street is facing a full-blown crisis as the company behind off-licence chains Bargain Booze and Wine Rack scrambles to avert collapse and Carpetright prepares to close scores of shops.

Business and economics

  • The Sunday Telegraph: Dozens of the world’s top economists have called on the US to pull back from a trade war, warning that it will have ruinous consequences for the country and the wider world economy.
  • The Sunday Times: Bank of England governor Mark Carney is set to lay the groundwork this week for an interest rate rise in May, despite signs that inflation is slowing.
  • The Observer: Rogue bosses will face fines or prosecution for putting the pensions of their workers at risk under new laws to be unveiled by the government.
  • Mail on Sunday: Fullshare, controlled by billionaire Ji Changqun, one of the Chinese suitors behind a bid for House of Fraser, has issued a profit warning a fortnight before the deal is expected to be finalised.
  • The Observer: The accounting watchdog is expected to announce an investigation into potential misconduct by two former finance directors at Carillion, the failed government contractor.
  • The Sunday Times: Credit insurers are tightening terms for suppliers to Poundstretcher, the struggling discount retail chain owned by two low-profile brothers based in Leicestershire.
  • Mail on Sunday: Sir Martin Sorrell, the head of advertising giant WPP, is on course for a big pay cut this year, leaving him with his lowest total package since 2011.
  • The Sunday Times: Mitchells & Butlers, the pubs operator behind All Bar One and Harvester, is embroiled in a High Court row with its pension trustees over a plan to cut retirement benefits for more than 20,000 people.
  • The Sunday Telegraph: Bonuses for top executives at Hiscox have been scrapped following a record year for natural disasters that left the insurer swallowing a £160 million claims bill.
  • The Sunday Times: Heathrow is under pressure to cut blockbuster dividends for its shareholders while it builds a £14 billion third runway.
  • The Sunday Times: Struggling outsourcing giant Capita is expected to strip its former boss Andy Parker of an £845,000 cash bonus.
  • The Sunday Telegraph: A team of​ entrepreneurs is planning to build a £10 million Bitcoin farm in the South East that it claims will be the biggest in the UK.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Join the Caribbean oil rush as Trinidad-based Trinity Exploration & Production looks set to drum up healthy returns for investors.
  • Mail on Sunday (Midas share tips): Our paymaster tip Equiniti soars by 80% in 20 months.
  • The Sunday Times: The upmarket housebuilder Berkeley Homes is eyeing an approach for the Earls Court site owned by Capital & Counties, the troubled FTSE 250 property developer.
  • The Sunday Times: Unilever is preparing the ground for a series of blockbuster mergers that could include deals with rivals such as Colgate-Palmolive and Estée Lauder, according to City sources.
  • The Observer (Comment): Can Spotify and Dropbox finally prove that tech is a sound investment?

2 comments so far. Why not have your say?

Striker

Mar 18, 2018 at 12:47

Mark Carney is an Idiot! Once again planning to increase interest rates at a time when the economy is teetering on the edge of recession. Hasn't this fool done enough damage already?

Meanwhile Putin toys with the idea of switching off Britain's power supplies unless we backdown over accusing the thug of poisoning his countrymen residing over here......

And as for the weather?? Go figure...

report this

JohnR

Mar 18, 2018 at 14:55

Talk about seeing what you want to see...

The security services are the ones toying with the idea of (them) switching off the power supplies, some might call it blatant propaganda. Seems to have done the trick.

If the UK government wants to get serious about Russia perhaps it should seek to confiscate and then prevent future money being laundered here. Break with a long held tradition...

As for energy companies being told to beef up their cyber security, they're not running a hot dog stand, it should already be secure.

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts


In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.

Watch Now

More about this:

Archive

Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add noreply@emails.citywire.co.uk to your safe senders list so we don't get junked.

Read more...

Nigel Thomas to retire after 40 years in funds

by Daniel Grote on Apr 26, 2018 at 16:42

Sorry, this link is not
quite ready yet