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Sunday Papers: Warning of 'sharp interest rate rise' in 2012 - other news

by Himanshu Singh on Sep 05, 2010 at 00:01

The Independent on Sunday

* Britain's biggest banks will hand over their worst economic case survival plans to the FSA next month ahead of the G20 summit in South Korea.

* Neville Bain, the chairman at the Institute of Directors, has hit out at City regulation that forces board members of all FTSE 350 companies to face re-election every year.

* London-listed First Quantum Minerals has pulled nearly all its expat workers out of the Democratic Republic of Congo after the government seized its Frontier copper mine.

* Nigeria's "Iron Lady", Arunma Oteh, has promised to stamp out corruption in the country's financial sector ahead of a privatisation of the Nigerian Stock Exchange, which lists companies worth £3.76bn.

Mail on Sunday

* Coco de Mer, the erotic goods retailer founded by Anita Roddick's daughter Sam, will need another cash injection to keep the business afloat after new losses.

* FSA is proposing a new rescue scheme that could salvage the savings of 28,000 investors in Lifemark, an offshoot of the collapsed firm Keydata.

* The Financial Services Authority is investigating the illegal sale of shares in a company linked to Lord Guthrie, a former head of the Armed Forces.

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