Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Sunday Papers: State bonanza continues for the crisis-hit outsourcers

Sunday Papers: State bonanza continues for the crisis-hit outsourcers

Top stories

  • The Sunday Telegraph: Mitie, Interserve, Carillion and Capita have been awarded more than £2 billion worth of public sector work since last summer, despite a string of profit warnings and crashing share prices.
  • The Sunday Times: A South African healthcare provider Mediclinic International, which already has a 29.9% stake in Spire, is plotting a £1.3 billion swoop on Spire Healthcare, Britain’s largest chain of private hospitals.
  • The Sunday Times: GKN is examining a radical break-up plan that could create two FTSE 100 companies - splitting its aerospace and automotive businesses.
  • The Sunday Times: Profit warnings have seen their biggest quarterly rise in nearly six years, as the sluggish domestic economy takes its toll on companies’ bottom lines.

Business and economics

  • The Sunday Times: The secretive investment firm that presided over the collapse of Monarch Airlines has saddled Scunthorpe steelworks with high-interest debt; Greybull Capital, which invests the wealth of two families, has loaded the vast Lincolnshire complex with a £154 million package of shareholder loans that has echoes of the debt package secured against Monarch.
  • The Sunday Times: The founder of SoftBank has revealed his plans to plough nearly $1 trillion into technology start-ups over the next decade.
  • The Sunday Times: Google has upped its spending on Washington DC lobbyists in the hope of clearing a regulatory path for projects churned out by its secretive research lab.
  • The Sunday Telegraph: The discount supermarkets Aldi and Lidl are pressing ahead with rapid expansion despite fears over shifting shopping habits that are forcing ­Britain’s “Big Four” grocers to shake up their store estates.
  • Mail on Sunday: Debenhams chief executive Sergio Bucher has embarked on a major overhaul of the company’s strategy to bring more ‘excitement’ into its stores up and down the country.
  • The Sunday Telegraph: Airbus is battling to reduce the amount it pays back to government investors who helped fund the development of its poorly selling A380 superjumbo.
  • The Sunday Times: BT is poised to overhaul its troubled international division in a move that could shut dozens of overseas outposts, including the scandal-hit Milan office.
  • The Sunday Telegraph: Investors are pressing for reassurance about corporate governance at Rio Tinto after the mining giant was hit with fraud charges by the US markets regulator last week.
  • The Observer: A judge on Friday tossed out a $417 million jury award to a woman who claimed she developed ovarian cancer by using Johnson & Johnson talc-based baby powder for feminine hygiene.

Share tips, comment and bids

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Kleinwort Hambros' boss on how to manage five banks

Profile: Kleinwort Hambros' boss on how to manage five banks

Welding together Kleinwort and Hambros – two of Britain’s most historic banks, founded in 1786 and 1839 respectively – was always going to be a challenge.

Wealth Manager on Twitter