Sunday Papers: L&G readies £10bn bid for Pru pensions
- The Sunday Times: Legal & General, Britain’s third-biggest insurer, is preparing to bid for a £10 billion slice of Prudential’s annuity business.
- The Sunday Telegraph: The Government pushed ahead with plans to overhaul the appeals system for business rates despite not receiving a single consultation response in support of them.
- The Sunday Times: Flight prices may be pushed higher to cover the financial risk of delays or construction problems on Heathrow’s new third runway as the airport is demanding the right to make airlines and passengers contribute to any unexpected cost overruns or engineering problems on the £18.6 billion project.
- The Sunday Telegraph: Britain’s landlords could cost the energy system hundreds of millions of pounds by using loopholes in the Government’s housing standards to avoid improving energy efficiency.
Business and economics
- The Sunday Times: More than half of AIM-listed Telit Communications’ value has been wiped out in an extraordinary week in which disappointing results were followed by the announcement that its boss, Oozi Cats, may be linked to a 25-year-old fraud case; investors are also enquiring about the proceeds of a $50 million fundraising that took place earlier this year.
- The Sunday Times: Google is creating new safeguards to give advertisers greater control over where their ads appear, in an attempt to quell the revolt that flared up in the wake of the YouTube extremism scandal.
- The Sunday Times: Diageo is embroiled in a row with the French taxman over a large slug of back taxes from the drinks giant; France’s tax authorities have accused the Johnnie Walker and Guinness owner of not paying enough corporation tax on its earnings in the country.
- The Sunday Telegraph: American hotel giant Hilton is planning on increasing the size of its UK estate by almost 25% in a vote of confidence in the British economy as it moves to leave the European Union.
- The Sunday Telegraph: Luxury holiday home firm Park Leisure is planning to double in size within seven years on the back of a recent cash injection from its new private equity owners.
- The Sunday Times: A leading North Sea oil expert has said that the accelerated shift to electric cars and renewables could damage investment in the industry and accelerate “peak oil” - the point at which global crude production reaches its maximum rate before going into irreversible decline.
- The Sunday Times: Hikma Pharmaceuticals will face questions this week over its progress in getting a generic version of a key asthma drug over the line.
- The Sunday Telegraph: Crew Clothing, the British retailer famed for its nautically-inspired clothes, lifted sales by almost 6% last year while its losses swelled after splashing out on its head office.
- The Sunday Telegraph: American-themed eatery TGI Friday’s has suffered a sales dip after new entrants flooded the casual dining market.
- The Sunday Times: Investment bank Gleacher Shacklock has blamed the Brexit vote for a deals drought that has more than halved its profits.
- The Sunday Telegraph: BT shareholders are urging more change at the top of the company, with one top 20 investor calling on the company to line up a replacement for chief executive Gavin Patterson.
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