PRESS DIGEST-Sunday British Business - Oct 27

LONDON Sun Oct 27, 2013 8:56am EDT

LONDON Oct 27 (Reuters) - British newspapers reported the following business stories on Sunday:

The Sunday Times

SERCO TAPS EX-BALFOUR BEATTY BOSS

The former boss of Balfour Beatty, Ian Tyler, has been tapped up to take the helm of Serco, the troubled outsourcing giant whose leader abruptly resigned last week.

Andy Parker, the second-in-command at Capita, is also believed to be on the list of candidates being approached by Serco.

OSBORNE STOPS SHORT OF BREAKING UP RBS

British finance minister George Osborne is expected to back away this week from plans to break up Royal Bank of Scotland into "good" and "bad" banks.

BT BOSS KICKS OFF WITH BIG DIVIDEND

BT will this week ramp up its dividend by more than 10 percent, allaying concerns that its aggressive move into pay-TV will hit shareholder payouts.

GLENCORE ROW OVER LOST CONGO COPPER

Glencore has blocked the partial sale of one of the largest mines in the Democratic Republic of Congo over 4 million tons of missing copper.

STAVELEY BUYS BOND STREET JEWELLER

Amanda Staveley, the financier who helped broker a deal to save Barclays from a bailout during the banking crisis, is preparing to snap up a stake in one of the most prestigious jewellers in London's Bond Street.

ONE BILLION POUND SALE ON MENU AT PIZZA EXPRESS

The owner of the restaurant empire behind Pizza Express is finalising plans for a one billion pound ($1.6 billion) sale or float.

BRITISH ESTATE AGENT TO LIST

Richard and Kathryn Martin, who started British estate agency Martin & Co in 1986, have hired Panmure Gordon to examine a sale or listing next year

The Sunday Telegraph

RBS PROFITS RETURN AS SPLIT LOOMS

The Royal Bank of Scotland is set to report third-quarter profits of more than 400 million pounds, reversing a loss last year of 1.2 billion pounds.

TWO THOUSAND MERLIN STAFF TO SHARE 200 MLN STG IPO WINDFALL

About 2,000 senior managers and other long-standing staff at Merlin Entertainments will share in a 200 million pound windfall when the owner of Legoland Parks and the London Eye floats on the stock market next month.

BP'S BILL FOR GULF OF MEXICO SPILL SET TO HIT $43 BLN

Oil giant BP is expected to reveal this week that its total bill for the Gulf of Mexico disaster has increased to more than $43 billion, as it reports that low refining margins have caused profits to slump as much as 37 percent.

BANK OF ENGLAND IN NEW CO-OP INQUIRY

The Bank of England has launched an inquiry into circumstances leading to the discovery of the 1.5 billion pound black hole at the Co-operative Bank in May of this year.

The Independent on Sunday

ABSENT UK BOSS ADDS TO SERCO'S WOES

The head of Serco's scandal-scarred division responsible for UK government contracts is currently absent from work, adding to the group's leadership crisis.

The Mail on Sunday

SOUTH AFRICAN BILLIONAIRE PUTS UK'S BHS ON SHOPPING LIST

Britain's BHS department store chain, owned by Philip Green, has been sized up as a potential takeover target by South African billionaire Christo Wiese.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.