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Sunday Papers: Key Tesco investor cuts stake

Sunday Papers: Key Tesco investor cuts stake

Top stories

  • The Sunday Telegraph: Chief investment officer of Harris Associates, a US investment fund which was Tesco's seventh-largest shareholder, said it has sold two thirds of its stake in the struggling supermarket.
  • Mail on Sunday: Ursula Lidbetter, chair of the Co-operative Group, is to make finding her own replacement her top priority after delegates to a special meeting voted for sweeping reforms to the organisation’s board.
  • Mail on Sunday: Music and video chain HMV is on the brink of regaining its crown as the UK’s biggest retailer of CDs and DVDs from Amazon as customers flock to its stores to watch live bands and buy hard copies of music releases.
  • Mail on Sunday: Financial services group Hargreaves Lansdown is expected to say it will apply for a full banking licence to take advantage of a growing flood of client money through its business.
  • The Sunday Telegraph: Glennmont, the largest green energy fund in Europe, raises €500 million (£300m) to invest in turbines across the UK and Europe.

Business and economics

  • Mail on Sunday: Sainsbury's began selling its clothing range on the internet this weekend as part of a plan to turn its fashion lines into a £1 billion business.
  • The Sunday Telegraph: Frozen food retailer Iceland Foods has completed a major refinancing to repay loans made at the time of the 2012 management buy-out.
  • The Sunday Telegraph: Activist to push NBNK to sue Lloyds; activist fund Crystal Amber has raised its stake in the cash sell to almost 28%.
  • The Sunday Telegraph: Liberty Global is canvassing support from major ITV shareholders, raising speculation of a full takeover bid.
  • Mail on Sunday: Aviva, the UK’s largest general insurer, said it received 2,700 claims in the second quarter of this year compared with 750 in the first quarter of 2010.
  • Mail on Sunday: Small business network Enterprise Nation is set to open an events and education space dedicated to small businesses in time for this week’s Small Business Advice Week.
  • Mail on Sunday: Fresh from his battle with the Serious Fraud Office, Iranian-born property tycoon Robert Tchenguiz is now in dispute with the taxman.
  • Mail on Sunday: Discount health and beauty group Savers is enjoying booming sales as its cut-price offering attracted cash-strapped shoppers.
  • Mail on Sunday: Surface Generation, a British manufacturer turned down for funding by high street banks, has won a million-pound contract with a Japanese engineering giant that will double its turnover.

Share tips, comment and bids

  • Mail on Sunday (Midas share tip): Crash barrier maker Hill & Smith has the right Formula for growth; buy.
  • The Sunday Telegraph (Questor share tip): Sainsbury's dividend is next in line to get the chop.
  • Mail on Sunday: Luxury travel company ITC is on the lookout for acquisition targets following its recent management buyout backed by former Capita chief executive Paul Pindar.
  • The Sunday Telegraph: Chinese shopping giant Alibaba gears up for record IPO next month by revealing it made profits of £1.3 billion in the last quarter.
  • Mail on Sunday: Terra Firma, the owner of the Wyevale garden centre chain, is thought to be considering a sale after a surge in profits last year.
  • Mail on Sunday: Walkabout pubs owner Intertain has appointed financial advisors to help it attract new investment to kick-start its expansion plans and which could lead to a sale of the company.
  • The Sunday Telegraph: RAC gears up for £2 billion listing with offer for members.
  • The Sunday Telegraph: Private equity group 3i is circling the Gorkana Group, the media information group which is up for sale.
  • The Sunday Telegraph: Aldermore hires Lazard for float; fast-growing retail lender set to break the summertime lull for listings with stock market flotation in coming weeks.
  • Mail on Sunday (Comment): The scale and pace of the revolution in retailing is becoming ever clearer as Tesco’s latest profit warning and the accelerated exit of its chief executive demonstrate.
  • The Observer (Comment): The French president must overcome his party's crisis and press his new government to tackle economic stagnation.
  • The Independent on Sunday (Comment): Eurozone flames were doused, but those coals still smoulder.

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