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Sunday Papers: Greek front-runners vow to stay in euro

And the Treasury is preparing to overhaul the hugely controversial private finance initiative.

Sunday Papers: Greek front-runners vow to stay in euro

Top stories

  • The Sunday Telegraph: Angela Merkel will have to "invent a way" to kick Greece out of the eurozone a leading politician claims, as all parties promise to renegotiate €130 billion bailout after elections.
  • The Sunday Telegraph: Castlebeck, the care home company backed by John Magnier and JP McManus, is up for sale in a move which could lead to substantial losses for the two Irish horse racing tycoons.
  • The Independent on Sunday: The Treasury is preparing to overhaul the hugely controversial private finance initiative, which could see billions of pounds dropped into public sector coffers and pension funds act like banks.
  • Mail on Sunday: Shareholders in the world’s biggest advertising group, WPP, will have to wait until next year to find out if boss Sir Martin Sorrell’s controversial pay packet will be reduced.

Business and economics

  • The Sunday Telegraph: Sir Ken Morrison, the former chief executive of Morrisons, has warned that the retailer's management team risks losing touch with its customers if it continues to take the shops too upmarket.
  • The Independent on Sunday: Greece is poised to fall out of the leading group of developed economies and be redefined as an emerging market, Dr Mark Mobius, the executive chairman of Templeton investments, has warned.
  • The Sunday Telegraph: Evraz, the FTSE 100 steel giant part-owned by the oligarch Roman Abramovich, is being sued by a Swiss business partner over a $500 million port infrastructure project which turned sour.
  • The Sunday Telegraph: The chief executives of Britain's largest banks have been told they must do more to help small businesses hit by the alleged mis-sale by their investment banking arms of controversial interest rate hedging products.
  • The Sunday Telegraph: Heritage Oil faces a showdown over executive pay at its annual meeting on Thursday, after leading shareholder groups criticised its policies and urged investors to vote them down.
  • The Independent on Sunday: The Bank of England could flood £50 billion more into the struggling UK economy within weeks as the latest turbulence from the eurozone plays havoc with UK recovery hopes, experts warn.
  • The Sunday Telegraph: Pressure on household finances is expected to ease this week when official figures show that inflation has fallen below 3% for the first time since December 2009.
  • Mail on Sunday: Asda has outshone its supermarket competitors in the battle for the Diamond Jubilee shopper, figures are expected to reveal this week.
  • The Sunday Telegraph: Lloyds Banking Group has asked the courts to throw out a US shareholder lawsuit accusing it of fraud in relation to its controversial take-over of HBOS.
  • Mail on Sunday: Shareholders in the world’s biggest advertising group, WPP, will have to wait until next year to find out if boss Sir Martin Sorrell’s controversial pay packet will be reduced.

Share tips, comment and bids

  • The Sunday Telegraph: Manufacturing buy-out specialist Melrose has been working on a $2 billion-plus bid for Elster Group, a German company that makes gas, electricity and water meters.
  • The Sunday Telegraph: KKR is in early-stage discussions with the owners of Everything Everywhere about an audacious £8 billion takeover of the UK mobile phone venture whose brands are Orange and T-Mobile.
  • The Sunday Telegraph: CVC, the private equity firm that controls Formula One, has sold a $500m stake in the sport to US fund manager Waddell & Reed.
  • The Sunday Telegraph: Arsenal football club and Quercus, the publishing house behind The Girl with the Dragon Tattoo, could be left without a stock market listing next week if shareholders reject Plus Markets sale to ICAP as expected.
  • The Sunday Telegraph: Iglo Group, the owner of Birds Eye in Europe, holds meetings with Pinnacle, the US company that owns the American rights to the frozen food brand, about a potential £5 billion tie-up.
  • The Sunday Telegraph: Waddell & Reed has increased its stake in Formula One to 20.9% in a $500 million deal.
  • The Sunday Telegraph (Comment): As Sir Martin Sorrell's £13 million pay award attracts debate, questions are being asked about the make-up of the board.
  • The Independent on Sunday (Comment): Supplying more money to the banks so they can provide loans to small businesses and for mortgages is a gamble and potentially dangerous.
  • The Sunday Telegraph (Comment): Hilary Devey has started an investment fund to continue to invest in small companies for life after she leaves Dragons' Den.
  • Mail on Sunday (Comment): Could the proposed fiscal union not only save the whole scheme but eventually work so well that Britain might have to come off its high horse and, to some extent, join in?
  • Mail on Sunday (Midas share tip): Buy Renew Holdings

4 comments so far. Why not have your say?

Peter Dawson

Jun 17, 2012 at 08:48

No Sunday Times today?

report this

Keith Snell

Jun 17, 2012 at 12:11

There is no piont in inventing a reason to chuck greece out of the EU several already exist.

report this

james horton

Jun 17, 2012 at 15:52

It's very easy to spend someone else's money, I think we all know that. The simple answer is don't give them any more. They will soon clear off, beggars always do.

report this

Jeremy Bosk

Jun 17, 2012 at 18:28

There are three reasons not to bother with the Sunday Times.

Firstly it is behind a pay wall.

Secondly, paying for it is funding the evil Murdoch empire.

Last but not least, can you trust anything said or written by an employee of Murdoch?

report this

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