REFILE-PRESS DIGEST: Sunday British business - Sept 2
LONDON, Sept 2 (Reuters) - British newspapers reported the following business stories on Sunday:
Sunday Times BANKS TO SEIZE CONTROL OF AILING YELLOW PAGES A syndicate of banks is preparing to take control of the publisher of Yellow Pages, Hibu, after losing patience with management's attempts to get to grips with heavy debts. BA POISED TO TAKE STAKE IN AMERICA'S NEW SUPER AIRLINE The owner of British Airways, International Airways Group , is manoeuvring to become a cornerstone investor in America's new super airline. IAG, which also owns Iberia, has signed a confidentiality agreement that will give it access to the books of American Airlines.
UNIVERSAL CLINCHES EMI - BUT LOSES KYLIE Universal Music's fraught takeover of EMI is set to get the green light from Brussels this week. The price of approval will be high, however, with Vivendi unit Universal being forced to sell Parlophone, the record label behind Kylie Minogue and the Beatles. INVESTORS AGHAST AT REDROW FOUNDER'S 'CHEEKY' BID The tycoon who chairs Redrow faces a tussle with his biggest shareholders after tabling a "cheeky" 562 million pound takeover approach for the FTSE 250 house builder. BARCLAYS BOSS TO AXE CASINO BANKERS Barclays' new chief executive Antony Jenkins has said its giant investment bank will be scaled back in response to tough new regulations and a stagnant economy. Sunday Telegraph O'LEARY ATTACKS BAA'S VALUATION OF STANSTED Ryanair chief executive Michael O'Leary will this week accuse airports operator BAA and its regulator of inflating the value of Stansted airport with accounts straight out of "Noddy land". FSA TURNS ATTENTION TO VARLEY John Varley, Barclays' former chief executive, is at the centre of a regulatory inquiry into unorthodox payments to Qatar's sovereign wealth fund. JENKINS VOWS TO LISTEN MORE TO BANK'S INVESTORS Antony Jenkins has promised to spend more of his time "listening than talking" with investors and regulators as he prepares to overhaul Barclays' executive management structure. BOND URGED TO STEP DOWN AFTER FAILURE OF 45 BILLION POUND GLENSTRATA DEAL Sir John Bond, chairman of Xstrata, is under pressure from his shareholders to step down in the wake of the miner's faltering 45 billion pound merger with commodity giant Glencore , which is expected to be voted down this week. LONMIN PRESSURE PILES ON Investors are piling pressure on beleaguered platinum miner Lonmin as traders short-selling the stock surged to a record number. Just over 19 percent of the mid-cap group's shares are on loan, the highest proportion of any FTSE 250 company according to data from Markit, the financial information services company.
MOULTON TARGETS JJB Jon Moulton, the private equity specialist, is examining the rescue of JJB Sports, the ailing sports retailer. WAITROSE BOSS PLANS ONLINE DRIVE TO GRAB MARKET SHARE Supermarket grocery chain Waitrose could double the proportion of goods it sells via the Internet to at least 6 percent within eight years and ultimately take 20 percent of sales online, marketing director Mark Price has said. Mail on Sunday BARCLAYS CHIEF FEARS INTEREST ONLY SCANDAL The new chief executive of Barclays fears that interest-only mortgages could become the next 'mis-selling' scandal, potentially costing billions of pounds and engulfing the bank in customer complaints. Sunday Express BARCLAYS BOSS SET FOR INVESTOR CLASH Barclays is on a potential collision course with its leading investors after new chief executive Antony Jenkins gave his backing to the bank's finance director, Chris Lucas, who is being investigated by regulators.
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