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Saturday Papers: Britain's economy forecast to stay on global A-list

Saturday Papers: Britain's economy forecast to stay on global A-list

Top stories

  • The Guardian: The UK will still stand tall among the world's biggest economies in 2030, having overtaken France and even made progress on closing the gap with Germany; PricewaterhouseCoopers says only India will overtake Britain by then, but report ignores possibility of Scotland voting to leave.
  • Financial Times: Bank of Cyprus is set to become the latest lender in the eurozone periphery to issue shares after announcing that it would explore investor interest in a potential capital increase expected to raise at least €1 billion.
  • Financial Times: Thousands of British Airways passengers were still waiting to be reunited with their luggage on Friday, more than a week after a baggage system failure at Heathrow airport’s Terminal 5.
  • Daily Mail: Marks & Spencer chief executive Marc Bolland will come under heightened pressure on Tuesday as disappointing first-quarter clothing sales continue to thwart his turnaround.
  • Financial Times: The US and UK have voiced concern about China’s decision to try in secret a British private investigator and his American wife next month after the couple were arrested following work they did for GlaxoSmithKline, the UK drugmaker.

Business and economics

  • Daily Express: Wines, the Norwich-based online wine retailer funded by its customers, has toasted a near doubling of operating profit in the UK to £2 million in 2013 but is predicting the US will soon be its biggest market.
  • Daily Express: William Hill is backing James Henderson to deliver further success to the gambling group after appointing him to succeed Ralph Topping as chief executive.
  • Daily Express: Ultimo, the lingerie brand fronted by Abbey Clancy, is expanding its footprint by opening its first wave of concession stores after making a deal with House of Fraser.
  • Daily Mail: The Society of Motor Manufacturers and Traders said 1,287,265 new cars were sold in the UK in the first six months of the year; that was up 10.6% on the first six months of 2013 and the best half-year total since 2005.
  • Daily Mail: William Hill has picked an insider to succeed Ralph Topping who stands down as chief executive at the end of this month after 44 years with the bookmaker; James Henderson will take the helm next month on £550,000 a year plus bonuses.
  • Daily Mail: BT’s pension scheme has taken out insurance to cover £16 billion of payments to pensioners who live longer than expected.
  • Financial Times: Shareholders have rejected a pay proposal for three senior executives at Tata Motors, the struggling Indian carmaker, highlighting a trend towards greater investor activism in Asia’s third-largest economy.
  • The Guardian: Matteo Renzi, the Italian prime minister, has launched a scathing attack on Germany's powerful central bank, telling it to mind its own business after the head of the Bundesbank, Jens Weidmann, criticised Rome for allegedly imperilling recovery from the eurozone crisis.
  • The Independent: The pension fund of oil giant Shell is suing arch rival BP and its former chief executive Lord John Browne for millions of pounds over the Gulf of Mexico oil spill catastrophe.
  • The Independent: Jigsaw is back in fashion and has posted a 7% sales jump and profit of £1.5 million on turnover of £64.2 million.
  • The Daily Telegraph: British Gas has been forced to pay out £1 million by the energy regulator for mis-selling new contracts to customers and exaggerating savings claims on its energy tariffs.
  • Financial Times: Google has run into a barrage of sniping and suspicion over its first attempts this week to comply with Europe’s new “right to be forgotten” online, including claims in some quarters that it has deliberately set out to sabotage the court ruling behind the idea.

Share tips, comment and bids

  • Daily Express: Engineering software firm Aveva Group was strengthened yesterday on talk that it is being eyed up by a pair of industrial giants.
  • Financial Times: Dubai World is in talks with creditors to extend a $10.5 billion debt maturity due in 2018, sparking divided reactions among lenders over whether to take such a deal when the emirate’s economy has recovered so strongly.
  • Financial Times: Blencathra, one of the Lake District’s most celebrated mountains, has been sold for more than its £1.75 million guide price.
  • Daily Express: Beleaguered outsourcer Serco was thrown into fresh turmoil yesterday when it lost the contract to run a London rail franchise to a French rival bid.
  • Financial Times: Scions of more than a half-dozen wealthy American families took a trip last week to the twin valleys of the San Francisco area, Napa and Silicon Valley, for a two-day tour organised by their wealth managers at Deutsche Bank.
  • The Daily Telegraph: Matomy revives float plans; the Israeli digital advertising company is understood to be selling shares at 227p, giving it a £205 million market value.
  • Financial Times: Ace has agreed to buy ItaúUnibanco’s high-risk insurance business for R$1.52 billion (US$684 million), making the Zurich-based group the largest commercial property and casualty insurer in Brazil’s fast-growing insurance market.
  • Daily Express (Comment): The motor industry has been the engine for growth in Britain’s manufacturing recovery but the brakes have also come off consumer spending to keep the economy firing on all cylinders.
  • Daily Mail (Comment): Current chief executive Sir Andrew Witty's leadership is being more than tested by the deepening sex tapes and bribery scandal in China.
  • The Daily Telegraph (Comment): HMV, the high street and physical music may not be done for after all.
  • Financial Times (Lex): Indian hill station: builder Hindustan Construction Corporation has resurrected plans to float its hill station subsidiary. But if it builds a new city, will investors come?
  • Financial Times (Lex): Erste Group Bank: the Austrian lender to emerging Europe has warned on profits for the third time in little over a year. And debt forgiveness could cause more pain.
  • Financial Times (Lex): GoPro: the action camera maker has achieved a valuation every bit as eye-popping as any action selfie. Should investors be so snap happy?

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