Citywire for Financial Professionals

View the article online at http://citywire.co.uk/money/article/a650164

Sunday Papers: Nearly 3% inflation to squeeze household incomes further

And AXA seeks to refinance $2.8 billion in loans, while travel group paves the way for flotation.

 
Sunday Papers: Nearly 3% inflation to squeeze household incomes further

Top stories

  • The Sunday Telegraph: The squeeze on household incomes will tighten once again this week when inflation edges up towards 3% - twice the level of pay rises.
  • The Independent on Sunday: AXA seeks to refinance $2.8 billion in loans, while travel group paves the way for flotation.
  • The Independent on Sunday: Hewlett Packard boss Meg Whitman has been awarded shares, bonuses and stock options worth more than $15 million in 2012, despite writing off $8.8 billion against the acquisition of Cambridge-based software company Autonomy.
  • The Observer: Virgin Galactic has threatened to pull its support from the publicly financed $209 million "spaceport" in southern New Mexico, in the US, unless lawmakers extend the company's waiver of liability to manufacturers and parts suppliers in the event of an accident.
  • Mail on Sunday: Public fury over pay for bankers will be reignited this week when Goldman Sachs kicks off the results season by announcing a fresh multi-billion pound payout to staff.

Business and economics

  • The Sunday Telegraph: Lloyds Banking Group has fired a "rogue trader" after the state-backed lender uncovered a scheme designed to inflate the bonus of the executive working in its investment banking arm.
  • Mail on Sunday: Telecoms giant Vodafone could escape paying at least part – or even all – of a £1.6 billion tax bill in India after it emerged that New Delhi is planning to amend the legislation that led to the demand.
  • The Independent on Sunday: The Bank of England's new Governor, Mark Carney, may be forced to explain high inflation to the Chancellor just days after starting his new job, experts have warned.
  • The Sunday Telegraph: The chief executive of Next, Lord Wolfson, has backed the Prime Minister and said that business should have nothing to fear from a renegotiation of the UK's relationship with the European Union.
  • Mail on Sunday: The ever-expanding online fashion retailer Net-A-Porter increased sales by 55% last year, but made a £27 million loss after investing heavily in the business.
  • Mail on Sunday: The ‘family springboard’ loan from Barclays enables parents to provide financial security for a home purchase made by a son or daughter without physically handing over any money to their offspring.
  • The Independent on Sunday: The chief executive of Dixons Retail will make good on a promise that the owner of PC World and Currys would capitalise on the demise of Comet with strong trading figures this week.
  • Mail on Sunday: Andrew Meeson, president of the Association of Taxation Technicians until a week before he was charged, is on trial at Birmingham Crown Court for an alleged £5 million pension scam, the trade magazine Professional Pensions reported.
  • The Sunday Telegraph: The Office of Fair Trading is studying allegations by independent petrol station owners that oil giants Shell and Esso have engaged in "predatory pricing".
  • The Sunday Telegraph: Greek politicians passed a new tax bill that will enable the troubled nation to continue securing aid from its international lenders.
  • Mail on Sunday: Subway's fight over VAT on toasted sandwiches may put £1 billion at stake.

Share tips, comment and bids

  • The Independent on Sunday: 3i has written down its investment in Shearings, the Wigan-based tour operator it bought for £100 million in 2005, near the height of the market.
  • The Sunday Telegraph: Centrica is understood to be involved in talks to buy a major stake in Cuadrilla Resources, the company fracking for shale gas in the UK.
  • The Sunday Telegraph: US private equity firm Hellman & Friedman has joined the £1.8 billion bidding battle for Trader Media Group despite a stalemate between the company's two shareholders.
  • Mail on Sunday: Dreams, the bed retailer, will formally go up for grabs this week as advisers send a sale document to interested parties.
  • Mail on Sunday: Marks & Spencer is losing market share at its clothing division after a disastrous Christmas when fashion sales nosedived.
  • The Independent on Sunday: The prospect of a huge corporate bond issue and a $500 million loan renegotiation, involving the private equity giant Blackstone, shows that the debt market may finally be exiting the doldrums.
  • The Observer (Editorial): The big food companies should be taxed for the damage they cause to our bodies and the planet.
  • Mail on Sunday (Midas share tip): Buy Travis Perkins
  • Mail on Sunday (Comment): Britain is by far the most advanced online shopping nation in the world. But many retailers are still struggling to graft internet businesses on to their traditional operations.
  • The Sunday Telegraph (Comment): Marc Bolland has six months to turn around M&S.

1 comment so far. Why not have your say?

Christopher

Jan 13, 2013 at 12:07

Presumably Meg Whitman's bonus is conditional on her recovering the $8 billion from poor old Autonomy...

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 association with Aberdeen Asset Management

Fund managers from Standard Life Investments quizzed on investment trusts


What can SLI bring to the table for those who want to put their money into investment trusts?

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...

FTSE brushes past 6,500 as Fed relief rally continues

by Gavin Lumsden on Dec 19, 2014 at 17:24

Sorry, this link is not
quite ready yet