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Sunday Papers: Boom in 30-year mortgages as house prices spiral

Sunday Papers: Boom in 30-year mortgages as house prices spiral

Top stories

  • The Sunday Telegraph: Thousands of households stretched out their mortgages over 30 years or more in the second quarter, as soaring house prices forced record numbers of borrowers to saddle themselves with more debt for longer .
  • The Sunday Telegraph: OVO Energy has raised £8 million in growth capital from former US vice president Al Gore as it prepares to ramp up its battle against the incumbent energy giants.
  • Mail on Sunday: Staff at the John Lewis Partnership are in line for a £35 million boost on top of their bonuses this year after the introduction of new rules to encourage firms to hand control to workers.
  • Mail on Sunday: Co-operative group members will this week vote on plans to sweep aside its board of amateurs and replace them with professional directors.

Business and economics

  • Mail on Sunday: Homebase has accelerated its programme to close unprofitable shops amid mounting speculation that it may sell the business.
  • Mail on Sunday: Anglian Home Improvements has appointed a private equity specialist to its board raising expectations that the double-glazing and conservatories group may be about to be sold off.
  • Mail on Sunday: Mace - the building firm behind the Shard, London Eye and Thames cable car - has put in place a private equity-style share structure that could net new management tens of millions of pounds.
  • The Sunday Telegraph: Jimmy Choo, the upmarket shoe brand; the RAC, the breakdown service; and United Biscuits, are preparing to announce plans to go public.
  • Mail on Sunday: Upmarket estate agency Foxtons will this week reveal a double-digit profits rise as it continues to reap the rewards of London’s property boom.
  • The Observer: Soaring house prices in Dublin spark fears of new property bubble; banks accused of fuelling a fake boom as houses prices in Dublin rise almost 25% in a year.
  • Mail on Sunday: Clive Christian, the British luxury goods firm that makes the world’s most expensive perfume as well as furniture for the rich and famous, has reported that turnover fell 27% to £9.6 million last year as overseas buyers turned away from its high-end furnishings.

Share tips, comment and bids

  • Mail on Sunday (Midas share tip): The more recent weakness of the pound may continue and provide some relief for investors whose portfolio is exposed to foreign currencies. But investors should be wary of focusing too much attention on currency risk.
  • The Sunday Telegraph: Two New York hedge funds will increase their control of Britain's second biggest pubs landlord despite a debt-for-equity swap which will dilute existing shareholders.
  • The Sunday Telegraph: The Business Growth Fund will put £6 million into furniture retailer Furniture Village, taking a minority stake in the company.
  • The Sunday Telegraph: Speculation is growing about a potential sale of the remaining LA fitness business which has shed 33 clubs through a company voluntary arrangement.
  • The Sunday Telegraph: The insurance company Direct Line is the most likely candidate for promotion when FTSE Group carries out its quarterly index reshuffle early next month.
  • The Sunday Telegraph (Comment): Frustrated by the lack of real value in financial assets, people are putting their money into rare Star Trek memorabilia and other collectables.

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