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Sunday Papers: US riches tempt LSE investors to takeover

And pay for UK bosses is ‘absurdly high’, top headhunters admit as new analysis finds leading CEOs earn average of £4.6 million a year.

Sunday Papers: US riches tempt LSE investors to takeover

Top stories

  • The Sunday Telegraph: The future ownership of the London Stock Exchange hinges on which suitor will pay the highest price, one of the British bourse’s largest investors has revealed.
  • The Observer: Britain’s chief executives are wildly overpaid, and there would be no negative impact on the economy if their salaries were slashed, a groundbreaking study of the country’s top headhunters reveals.
  • The Sunday Times: The billionaire owner of Arcadia Group Sir Philip Green faces paying tens of millions of pounds into BHS’s pension fund one year after selling the struggling store chain for £1.
  • The Sunday Telegraph: Sainsbury’s and South Africa’s Steinhoff are locked in a game of chicken as they finalise rival bids for Argos, in a tussle that has proved to be an unprecedented case for UK Takeover Panel.
  • The Sunday Telegraph: Europe’s financial system is braced for a fresh round of interest rate cuts as the European Central Bank ventures deeper into negative territory in its battle to fight off stagnation.

Business and economics

  • The Sunday Telegraph: Barclays' new chief executive, Jes Staley, is planning to power through the mounting pile of regulatory investigations the bank is facing, a move expected to see him risk taking bigger fines, in exchange for quicker deals with the authorities.
  • Mail on Sunday: British American Tobacco has won a further £340 million tax rebate from Revenue & Customs as part of a blockbuster group action over historic tax payments.
  • Mail on Sunday: Coffee shop giant Caffè Nero paid no corporation tax in the last financial year despite making a profit of £23.6 million.
  • The Sunday Times: Breon Corcoran, boss of the newly formed Paddy Power Betfair, will come under scrutiny after his company was fined £280,000 by the Gambling Commission last week for encouraging a problem gambler to keep using a fixed-odds betting terminal (FOBT).
  • Mail on Sunday: Former Barclays chief executive Antony Jenkins has held talks about a new financial technology venture with a corporate financier who is suing Barclays for almost £1 billion.
  • The Sunday Times: The largest independent oil producer in the North Sea has drafted in banking advisers to help it slash its debts in the face of the low crude price after EnQuest’s credit rating was downgraded deeper into junk territory last week by Moody’s Investors Service.
  • The Sunday Times: Quindell's controversial founder, Rob Terry, has been accused of claiming £185,000 in fraudulent expenses in a High Court battle with his former employer.
  • The Sunday Times: Financial giant Old Mutual is finalising secret plans to break itself apart after receiving a takeover approach for its wealth management arm.
  • The Sunday Times: Yeo Valley, Britain's biggest maker of natural yoghurt nearly doubled its profits to £6.6 million last year after buying the farm that produces most of its ingredients.
  • The Sunday Telegraph: News UK, the British arm of Rupert Murdoch’s newspaper empire, is expected to slash more than 100 jobs under cost-cutting plans developed by its returned chief executive Rebekah Brooks.

Share tips, comment and bids

  • The Sunday Telegraph (Questor share tip): BUY Paddy Power Betfair.
  • Mail on Sunday (Midas share tips): HealthCare Royalty Trust aims to make healthy returns from royalties on drugs.
  • Mail on Sunday (Midas share tips): Build on these solid foundations as our tip Gleeson delivers high-rise gain of 446%.
  • The Sunday Times: The owners of fashion chain Jigsaw have opened talks with City advisers about a sale, write Daniel Dunkley and Oliver Shah.
  • Mail on Sunday: The John Lewis Partnership has said it will consider issuing more bonds after subscribers to a previous issue received a windfall of as much as £3,250 in cash and vouchers over the past five years.
  • The Sunday Telegraph: The final privatisation of Lloyds Banking Group in a £2 billion sale of shares to retail investors could be back on track for this year after a rebound in the bank’s share price.
  • The Sunday Times: Cheyne Capital, one of Europe’s biggest hedge funds is planning to invest £850 million in social housing over the next three years in a bid to tackle Britain’s acute housing crisis.
  • The Sunday Times (Comment): Battle to keep Glaxo from break-up after Witty exit.
  • The Observer (Comment): 242,000 Americans got a job last month, here's why they're not celebrating.
  • The Observer (Comment): QE, inflation and the BoE's unreliable boyfriend: seven years of record low rates.
  • The Independent on Sunday (Comment): Why are central bankers trying to increase inflation?

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