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Sunday Papers: BoE to launch inquiry over forex fixing claims

Sunday Papers: BoE to launch inquiry over forex fixing claims

Top stories

  • The Sunday Telegraph: Bank’s oversight committee is set to appoint an external heavyweight to run an independent assessment.
  • Mail on Sunday: WPP chief executive Sir Martin Sorrell has received shares worth almost £23million as part of the advertising giant’s long-term incentive scheme.
  • The Independent on Sunday: Prosecco is outstripping champagne in global sales, as more consumers pop the cork on bottles of Italy’s famous sparkling wine.
  • Mail on Sunday: Charlie Mullins, founder of celebrity favourite Pimlico Plumbers, has ditched the £1 million dividend he received last year but increased his pay to almost £500,000; the London-based company increased its turnover for the year to 31 May 2013, by 5.4% to £18.1 million, while pre-tax profits grew from £1.1 million to £1.6 million.
  • The Sunday Telegraph: George Soros, the billionaire investor, has warned that German economic policy is a threat to the European Union.
  • The Observer: The embattled Co-operative Group faces a new storm over plans to pay its chief executive more than £3.5 million in his first year in the job, while massively boosting the salaries and bonuses of other senior staff.

Business and economics

  • Mail on Sunday: Leading Scottish firms are acting ahead of the referendum later this year to move operations out of the country into the rest of the UK, according to an exclusive survey.
  • Mail on Sunday: Upmarket estate agent Foxtons is to reveal that profits rose more than 50% last year on the back of London’s booming property market.
  • Mail on Sunday: Shopping channel operator Sit Up TV will ask its creditors next week to agree to a deal to write off its debts and allow it to continue broadcasting.
  • Mail on Sunday: Supermarket giant Morrisons will this week report its worst annual profit drop in eight years as consumers shun superstores and instead buy from convenience shops and websites.
  • The Sunday Telegraph: Ex Ecclestone adviser charged in F1 inquiry; Stephen Mullens, who was a close confidant of the sport’s boss Bernie Ecclestone and the lawyer for his $4 billion Bambino family trust, has been charged by German prosecutors.
  • Mail on Sunday: Chancellor George Osborne is being urged to shake up the system for setting the minimum wage and to announce its level for five years instead of just 12 months.
  • Mail on Sunday: Lloyds Banking Group paid one of its top executives £600,000 as a housing and education allowance when he joined the bank in 2011 as part of a £1.8 million ‘golden hello’.

Share tips, comment and bids

  • Mail on Sunday (Midas Share Tip): Rare book dealer Scholium plans float to buy fine collections – buy.
  • Mail on Sunday (Midas Share Tip): Shares loiter, but prospect is bright for gold tip Aureus Mining; existing investors should hold; new investors might also snap up a bargain at current levels.
  • The Sunday Telegraph (Questor share tip): Aggreko a questionable stock; it's the end of an era as chief executive Rupert Soames departs.
  • Mail on Sunday: London-based wine retailer 31Dover.com has secretly sold a 35% stake in its business to a group of French investors.
  • The Sunday Telegraph: Poundland valued at £750 million as float nears; IPO of discount retailer will be priced at top end of 250p-300p price range discussed in recent weeks.
  • The Sunday Telegraph (Comment): Sanctions on Russia, already economically illiterate, make little diplomatic sense either.

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