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Sunday Papers: Self-made triumph over old money

And Poundworld future in doubt as discount chain is put up for sale.

Sunday Papers: Self-made triumph over old money

Top stories

  • The Sunday Times: Ninety four per cent of those in the 30th annual Sunday Times Rich List are self-made entrepreneurs behind some of Britain’s game-changing businesses, signalling the country is conducive to those who build their own fortunes.
  • The Sunday Telegraph: Poundworld's US owner is opting to sell the loss-making discount chain, which employs around 5,500 staff across the UK, instead of continuing with the rescue plan to bring it back from the brink.
  • The Sunday Telegraph: Less than 20 companies have floated in London since January, according to Dealogic, a third less than the total this time a year ago and the lowest number since 2013.

Business and economics

  • The Sunday Telegraph: Banking giant Santander is planning to launch a stand-alone digital business banking service in the UK within months, amid intensifying competition in the market.
  • The Observer: There is a growing concern that US book seller Barnes & Noble, which has witnessed sales slide for 11 years and lost $1 billion in value over the past five years with closure of dozens of store, may not survive for too long.
  • The Sunday Telegraph: Struggling baby chain Mothercare is seeking tens of millions of pounds from its already suffering shareholders to implement a sweeping restructuring plan to revive its fortunes.
  • Mail on Sunday: Barclays and the Post Office are among big lenders that are once again offering 100% mortgage, which was considered responsible for bringing 2007 financial crisis, in a bid to attract first-time buyers without a deposit.
  • The Sunday Times: Carillion’s board of directors vetoed several chances to raise new funds in the run-up to the outsourcing giant’s catastrophic collapse.
  • The Sunday Times: Facebook is exploring the possibility of using blockchain technology to launch its own cryptocurrency and allow its two billion-plus users to make seamless electronic payments.
  • The Sunday Telegraph: Rolls-Royce has banned all but essential travelling in a bid to tackle the cash crisis caused by the spiralling costs of fixing a faulty jet-engine model; the company spends up to £150 million a year on travel and accommodation.
  • The Sunday Times: Waitrose has cut more than 700 store managers’ roles, which is 15% of senior roles in the stores, in the past two years as part of a controversial restructuring designed to cut costs and improve efficiency.
  • The Observer: Rise of robots is expected to terminate almost 46,000 jobs in customer support that will disappear before 2021 as firms embrace automation.
  • The Sunday Times: Bookmakers are appealing for a one-year reprieve should the government move ahead to impose a £2 maximum stake on fixed odds betting terminals (FOBTs).

Share tips, comment and bids

  • The Sunday Times: Universal Music will soon decide whether to press ahead with a float valuing the world’s largest record label at more than $20 billion.
  • The Sunday Times: Judy Halewood, who chairs Halewood Wines & Spirits, the maker of Lambrini sparkling wine, Crabbie’s ginger beer and City of London Gin, is set for a £200 million payday from the sale of the business.
  • The Sunday Times: Litigation firm Manolete Partners, which is backed by the financier Jon Moulton, is heading for a £100 million stock market float.
  • The Observer (Comment): For Brexit Tories, the hard border is too hard a question.
  • The Sunday Times (Comment): It’s not just Brexit: this government is failing business at every turn.
  • The Sunday Times (Comment): US holds aces in China trade war.
  • The Sunday Telegraph (Comment): BMW secrecy over unsafe cars shames the motor industry.
  • The Sunday Telegraph (Comment): RBS turns the page on the financial crisis, but not so the Bank of England.

15 comments so far. Why not have your say?

alan franklin

May 13, 2018 at 09:25

Fewer grammatical errors please. You report: "Less than 20 companies have floated in London since January, according to Dealogic, a third less than the total this time a year ago." Here is a grammar lesson:

Less – a smaller quantity of something; use ‘less’ with uncountable nouns.

Fewer – a smaller number of something; use ‘fewer’ with nouns that you can count.

The exceptions are: use ‘less’ with nouns to do with money or time, mathematics and computer language.

In 2008 Tesco had signs at the tills saying ‘Ten items or less’. There were so many complaints that they had to change the signs to read: ‘Up to ten items’. If they had changed the signs to correctly read ‘Ten items or fewer’, people might have learned better grammar.

If people in the communications business cannot communicate with precision, why should we take them seriously?

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richard tomkin

May 13, 2018 at 09:37

You old pedant !

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martin hargan

May 13, 2018 at 10:19

Language has to evolve though it offends our fifties education.I hate the I /me subjective objective common mistake in speech almost universally committed by the younger generation.

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Dennis .

May 13, 2018 at 10:34

I too. :) (you see it does make a difference)

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Donald Chan

May 13, 2018 at 11:56

Grammar serves a purpose. Some mistakes cost more than others.

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May 13, 2018 at 13:54

ha ha ha...get a life before it's to late

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Donald Chan

May 13, 2018 at 15:55

I certainly wouldn't employ you, CUEBALL (and it's too, not to).

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May 13, 2018 at 18:35

ha ha gotcha....reel him in ...fool

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Lawrence Ventour

May 13, 2018 at 19:00

@CUEBALL - Not true. You made a genuine grammatical/typological error! Too late to fob it off. Got the difference?

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May 13, 2018 at 19:10

your an even bigger fool

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May 13, 2018 at 19:15

...for jumping on the same hook..only I'll have to throw you straight back as my keep net's full ..i could eat you i suppose ..but i've already done that.Get a sense of humour, and that applies to Chan ..who'd want to work for him?

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Lawrence Ventour

May 14, 2018 at 13:16

@CUEBALL - One is never so stupid as when one does not know that one is stupid - and in your case, also deceitful.

'your' (sic) in 'your an even bigger fool' , should have been "You're (i.e. 'You are') an even bigger fool". Then, at least, it would have been grammatically - although not factually - correct.

But then again, that was another 'conscious error' on your part to show your wit and humour. Right?

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Donald Chan

May 14, 2018 at 14:01

It's a shame that the Citywire thread should be degraded as the comments are usually constructive, even if opinions may differ. We don't want to go the same way as others.

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May 14, 2018 at 14:50

ha ha ha

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Lawrence Ventour

May 14, 2018 at 19:11

@DC - Agreed. Let's leave this one there. To paraphrase Oscar Wilde, every criticism is an autobiography. Your point is well taken by me. Hopefully by others, too.

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