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View the article online at http://citywire.co.uk/wealth-manager/article/a744746

Sunday Papers: Mike Ashley snaps up 11% stake in House of Fraser

by Himanshu Singh on Apr 06, 2014 at 05:28

Sunday Papers: Mike Ashley snaps up 11% stake in House of Fraser

Top stories

  • Mail on Sunday: Retail entrepreneur Mike Ashley has snapped up an 11% stake in House of Fraser, which was last week taken over by the Chinese Sanpower corporation.
  • The Sunday Telegraph: Vivendi sells SFR to Numericable for £14 billion; rival bidder Bouygues beaten in quad-play battle faces challenging times in French telecoms market.
  • The Independent on Sunday: The cost of clearing four decades of nuclear waste at Dounreay in the Scottish Highlands has soared by £200 million, after major changes were made only two years into a 10-year contract.
  • Mail on Sunday: Consumer spending crashed last month with the slowest growth in more than a year, according to exclusive figures obtained by The Mail on Sunday; spending rose by just 1.1% in March compared with the same month last year - a lower rate than inflation and the slowest growth for 14 months.
  • The Independent on Sunday: Only 15 firms have considered using the coalition's much-trumpeted £1.5 billion Direct Lending Scheme, aimed at boosting overseas sales of British products, in its first seven months, undermining the Government's pledge of an "export-led recovery".

Business and economics

  • The Sunday Telegraph: The International Monetary Fund to vindicate Osborne with growth upgrade; Chancellor expects IMF to raise GDP forecasts for Britain a year after urging him to abandon austerity to stimulate growth.
  • Mail on Sunday: The Langham, one of London’s grandest hotels, is to invest £3 million in a second ‘supersuite’ after having to turn away bookings worth hundreds of thousands of pounds.
  • Mail on Sunday: Motor giant Ford is being sued by former staff in a multi-million pound age discrimination case believed to be one of the biggest private sector claims in British legal history.
  • Mail on Sunday: Wealthy property investors continue to feel the impact of stamp duty rises introduced two years ago as the number of sales of properties above £2 million in London has fallen by almost a third, according to a new report.
  • The Sunday Telegraph: Amec's Samir Brikho has his eye on a much bigger picture; shief executive excited by the opportunities Amec created with the £2 billion Foster Wheeler deal.
  • The Sunday Telegraph: Caffe Nero to create 1,700 jobs in the UK; the coffee shop chain plans to open another 225 outlets over the next five years.

Share tips, comment and bids

  • The Sunday Telegraph: M&S clothing sales expected to fall again; City analysts forecast that M&S's trading update will show clothing sales down 1pc, putting more pressure on chief executive Mark Bolland.
  • The Independent on Sunday (Comment): The Nick Clegg's refusal to take Nigel Farage seriously could cost the UK economy dear.
  • The Sunday Telegraph (Comment): The real reasons why Draghi flirts with QE; the fear is that money raised from quantitative easing in the eurozone will just be used to prop up banks that need to be allowed to fail.
  • The Sunday Telegraph (Comment): Given the uncertainties in the Royal Mail privatisation it was by no means certain the shares were underpriced but what is clear today is they are far too high.
  • The Sunday Telegraph (Comment): Forget bull market fears, it's just a recovery building steam; corporate confidence points more to firms preparing to invest than a fading bull market.

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