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Sunday Papers: Poundland showdown with key creditors

Sunday Papers: Poundland showdown with key creditors

Top stories

  • The Sunday Times: The scandal-hit parent company of high street discount chain Poundland will this week face key creditors and insurers at a meeting that could determine the future of its British retail operations.
  • The Sunday Telegraph: Britain's biggest mortgage lender Lloyds has been accused of “immoral” behaviour for using billions of pounds of cheap central bank funding to boost profits rather than increase lending.
  • The Sunday Times: David Cameron has accepted his first big job since leaving Downing Street, heading a £750 million fund to forge new links between China and its trading partners.
  • The Sunday Times: The Nigerian government is suing JP Morgan for $875 million (£660 million), alleging the Wall Street banking giant acted as the middleman in an illegal oil deal and made payments to a convicted money launderer.

Business and economics

  • The Sunday Times: A “tsunami” of cash flowing from the eurozone into Britain is set to dry up as the European Central Bank winds down its quantitative easing (QE) programme — potentially placing the pound under greater pressure.
  • The Sunday Times: Bloomberg has added the prices of three cryptocurrencies -ripple, ether and litecoin- to the 325,000 trading terminals it leases to banks, hedge funds and investment firms around the world.
  • The Observer: Firms dubbed “sharks” and “vultures” are preying on steelworkers to persuade them to transfer their pensions so advisers can pocket huge fees, MPs heard this week.
  • Mail on Sunday: A former hedge fund manager who has brought Lapland, a theatrical, ‘immersive’ re-creation of Santa Claus’s homeland to Britain, says he expects more than 60,000 visitors this Christmas and a £5 million turnover.
  • The Sunday Telegraph: Former bosses at the collapsed technology “unicorn” Ve Interactive may be pursued in the courts to retrieve funds owed to creditors.
  • Mail on Sunday: Hedge fund billionaire Sir Christopher Hohn looks set to suffer an embarrassing defeat this week, as shareholders in the London Stock Exchange are expected to vote against his attempts to topple the chairman.
  • The Sunday Times: Uber employed a global network of CIA-trained spies, used illegal wiretaps and hacked a rival’s database to steal trade secrets and lure away drivers, according to an explosive letter unsealed by a California court on Friday.

Share tips, comment and bids

  • Mail on Sunday (Midas shares tip): Cash in on the Great Christmas Clean-up with Biffa - an investment that recycles rubbish into electric power and profits.
  • Mail on Sunday (Midas shares tip): Festive sales flow for drinks firm Conviviality.
  • The Sunday Telegraph (Questor share tips): Remarkable turnaround for WH Smith as travel shops help its share price soar.
  • The Sunday Times: Bob Diamond is in talks to buy a stake in a London-based financial technology start-up Tandem — heralding an unlikely return to the world of British retail banking.
  • The Sunday Times: The British wing of Pizza Hut is on the verge of being sold by its private equity backers for about £100 million as Rutland Partners, a UK-based private equity firm, is understood to be in advanced talks to sell the business to Pricoa, a debt investor owned by the American insurer Prudential Financial.
  • The Sunday Times: Aston Martin’s Italian and Kuwaiti owners have hired the investment bank Lazard as they consider floating James Bond’s car maker.
  • The Sunday Telegraph: Jigsaw, the womenswear retailer, is at the centre of a takeover scrap between two South African companies Foschini and Truworths to clinch a deal before Christmas.
  • The Sunday Times: Buyout firm 3i is plotting the sale of a ferry company that links Denmark with Sweden and Germany as the FTSE 100 private equity firm has hired the investment bank Rothschild to sell Scandlines, which it bought a decade ago and could now be worth more than £600 million.
  • The Sunday Telegraph (Comment): Solution to 'productivity puzzle' is right in front of us.

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