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Saturday Papers: UK seeks £3bn from uranium group sale

Saturday Papers: UK seeks £3bn from uranium group sale

Top stories

  • Financial Times: Ministers are looking to raise up to £3 billion before the end of the year through the sale of the government’s 33% stake in Urenco, the uranium enrichment company.
  • The Daily Telegraph: A senior employee at US billionaire Steven Cohen's hedge fund SAC Capital has been charged with insider trading in technology companies Dell and Nvidia.
  • The Daily Telegraph: Savers in Cyprus' largest bank face losing a far worse-than-expected 60pc of their deposits over €100,000 as part of a €10 billion EU bail-out deal struck this week.
  • The Guardian: Cyprus's president Nicos Anastasiades on Friday insisted his country has a future in the euro in a speech that also criticised his eurozone partners for forcing the Mediterranean island to be an "experiment".
  • The Guardian: The radical shakeup of Britain's banking watchdog, which takes effect this weekend, is essential is to avoid another financial crisis, according to Paul Tucker, deputy governor of the Bank.
  • The Independent: Financial firms, City workers and other miscreants were hit with £136 million in fines during the first three months of 2013, the most in the first quarter of a year since the Financial Services Authority was created 15 years ago.

Business and economics

  • The Guardian: Asda has partnered the UK's biggest local authority, Birmingham council, to provide emergency welfare to some of the country's poorest people.
  • Financial Times: Snehal Amin, the number two at Theleme Partners, one of the most successful hedge fund start-ups of recent years, is leaving to set up his own investment venture.
  • Financial Times: Tidjane Thiam is set to be paid close to £7 million as Prudential presses ahead with plans to grant its chief executive a full bonus in spite of calls from some top shareholders that the insurance company should consider trimming his payout.
  • Daily Mail: Shire boss Angus Russell received a package of pay and perks worth almost £8 million during the course of last year. And National Express chief executive Dean Finch received a £644,000 bonus for the year.
  • Financial Times: Chesapeake Energy has appointed an interim chief executive to replace its founder Aubrey McClendon, after failing to find a replacement before his departure.
  • The Guardian: Barack Obama unveiled new plans to pump billions into US infrastructure on Friday as he moved to return the focus back to the economy and jobs.
  • Financial Times: Stephen Carter, former Ofcom chief executive, will leave Alcatel-Lucent to return to Britain after a tough four years in senior management roles at the beleaguered French telecoms equipment maker.
  • The Daily Telegraph: US consumers shrugged off rising taxes in February as they earned and spent more, in another sign the world's largest economy is on the road to recovery.
  • Financial Times: Cupid, the online dating company, topped off an eventful week by sacking one of its brokers after short sellers pounced on the stock late last week.
  • The Independent: British bakers are being forced to look overseas for flour after cold and wet weather decimated wheat crops across the country.
  • The Guardian: France failed to meet its budget deficit target in 2012 and will miss it again this year, as reports showed the country's public debt has risen to a record level.
  • Daily Mail: EasyJet has primed the City to expect a loss of £50 million to £75 million over the six months to the end of March, following the £112 million loss it reported a year earlier.
  • The Guardian: New rules that aim to put an end to banks and building societies mis-selling paid-for current accounts come into force this weekend; the revised rules will be overseen by new regulator the Financial Conduct Authority (FCA), which replaces the FSA from Monday.
  • Daily Mail: The Russian President Vladimir Putin wants to regulate severance pay to executives after Vladimir Strzhalkovsky received a goodbye bonus of around £66 million when he resigned as the chief executive of mining company Norilsk Nickel.
  • The Independent: A weak pound benefits UK companies and boosts shares prices on the London Stock Exchange, it has been claimed.
  • Financial Times: Marks and Spencer is expected to report a decline in sales of clothing and homewares in 10 days’ time, and is poised to revamp its core clothing ranges, underlining the difficulties facing chief executive Marc Bolland.

Share tips, comment and bids

  • The Daily Telegraph: Southeastern Asset Management, one of the biggest opponents of a $24 billion deal to take struggling US PC maker Dell private, approached the group's founder about a similar move before he agreed terms with a rival, it emerged late on Friday.
  • Financial Times: The investor behind a multimillion revamp of Trafalgar Square’s Admiralty Arch is preparing to launch a £500 million buying spree of high-profile buildings in London.
  • Financial Times: Rosslyn Analytics, a London-based “big data” analysis group, aims to raise between £7.5 million and £10 million in an initial public offering later this summer.
  • The Guardian (Comment): Data suggests the US economy is improving – but many Americans are failing to see the improvement in their own lives.
  • Financial Times (Lex): Porsche: sports car group has a fabulous brand name but is stacked with less desirable features that make its future opaque.
  • Financial Times (Lex): Safeway: supermarket group’s chief executive appears to be leaving a parting gift to shareholders, but it does not make up for the past 12 years.
  • Financial Times (Lex): DE Master Blenders: bid interest in the Dutch coffee company has emerged less than a year after it floated – and it could be excellent news for investors.

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