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Sunday Papers: Green plots sell-out to Chinese

And Hammerson is set to crash out of the FTSE 100 during reshuffle.

Sunday Papers: Green plots sell-out to Chinese

Top stories

  • The Sunday Times: Sir Philip Green is planning to sell all or part of his Arcadia Group empire, a move that would bring down the curtain on a controversial 50-year high street career.
  • The Sunday Telegraph: Hammerson is set to crash out of the FTSE 100 after doubling down on its exposure to struggling shopping centres by snapping up its rival Intu Properties.
  • The Sunday Telegraph: The chairman of the work and pensions select committee has called for a radical overhaul of the Pensions Regulator ahead of a grilling of its bosses over the growing Carillion and British Steel pension scandals.
  • The Sunday Times: Alchemy Partners, a vulture fund, is stalking New Look as the troubled fashion retailer reels from falling sales and the loss of insurance cover to its suppliers.
  • The Sunday Telegraph: International Monetary Fund chief Christine Lagarde has backed plans to transform the eurozone’s bailout fund into a European Monetary Fund independent of the IMF.

Business and economics

  • The Sunday Telegraph: The owners of British Steel are betting on a miraculous rebirth of UK steelmaking with plans to plough £100 million into the company’s turnaround as it seeks to mount a fresh challenge to bigger foreign firms.
  • The Sunday Times: Royal Bank of Scotland is set to make a profit for the first time in 10 years, partly thanks to a delayed settlement with American authorities over historic mis-selling.
  • The Sunday Times: Apple sold more watches than the entire Swiss watchmaking industry at the end of last year, in the latest sign of the marketing might and manufacturing power of the world’s largest company.
  • The Sunday Times: Centrica, the owner of British Gas, is feeling the squeeze after raising energy prices and shedding British and American business customers last year.
  • The Sunday Telegraph: Fears were mounting this weekend that Jamie Oliver's Barbecoa chain is on the brink of collapse, in what would be another blow to the celebrity chef's embattled restaurant empire.
  • The Sunday Times: Greene King is being preyed on by short sellers who are betting that the pubs owner will come under increased pressure this year.
  • The Observer: The Weinstein Company (TWC) announced on Friday that the board had decided to part ways with David Glasser, its chief operating officer.
  • Mail on Sunday: The big four banks – HSBC, Barclays, Lloyds and RBS – banking bosses raked in £21 million last year in pay and benefits.
  • The Sunday Telegraph: Mining giant Glencore is attempting to shrug off a row over its Congo copper mines as it prepares to unveil bumper profits.
  • Mail on Sunday: American Express has lost a crucial legal appeal which could put some of its most popular rewards cards in jeopardy, including its British Airways credit card.

Share tips, comment and bids

  • Mail on Sunday (Midas share tips): Here’s to Clive Watson’s elementary secret of pubs success.
  • Mail on Sunday: Corporate raider Melrose is dangling the prospect of a £570 million cash windfall under the noses of investors in GKN if they accept its £7 billion bid for the historic engineering company.
  • The Sunday Telegraph: The Ministry of Defence has sold the Royal Navy flagship, HMS Ocean, to Brazil for around £84 million, in a bid to plug a major funding black hole in its accounts.
  • The Sunday Times: The billionaire Reuben brothers have bought a building in New York that could become an American outpost of 5 Hertford Street, the Mayfair club.
  • The Sunday Times: Richemont’s €5.1 billion (£4.5 billion) bid for Yoox Net-a-Porter was thrown into doubt this weekend after one of the online luxury fashion retailer’s long-term shareholders said it planned to vote against the Swiss company’s takeover offer.
  • The Sunday Telegraph (Comment): Why we should welcome a gut-wrenching dive in equities.

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Aviva scraps plan to cancel preference shares

by Daniel Grote on Mar 23, 2018 at 11:45

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