LONDON Feb 9 British newspapers reported the
following business stories on Sunday:
The Sunday Times
ASTRA BATTLES AFRICA'S BIGGEST KILLER WITH CHEAP DRUGS
AstraZeneca is drawing up an ambitious plan to fight
heart disease in Africa by flooding the continent with cheap
BARCLAYS TAKES 150 BLN STG AXE TO CASINO BANK
Barclays is to slash the size of its investment
bank by a fifth as part of its efforts to win back the trust of
the Bank of England.
Thousands of jobs are at risk under the plan to sell off 150
billion pounds ($246 billion)of loans and tax securities and
reduce annual costs by 1.7 billion pounds.
MIDLANDS TECH GURU SET FOR 350 MLN STG FROM CANDY CRUSH
A little-known Midlands entrepreneur stands to pocket about
350 million pounds from the hit mobile phone game Candy Crush
Mel Morris is expected to shoot into The Sunday Times Rich
List after ploughing cash into the company that developed the
game more than a decade ago.
Morris, a former Derby County FC director, has an 11.5
percent stake in the London-based business King, which is
expected to float on America's Nasdaq exchange this year.
DUNHILL LIFELINE: SWISS OWNER INJECTS 28 MLN STG
The Swiss owner of Alfred Dunhill has been forced to inject
28 million pounds because of losses and a widening pension
Richemont, the luxury conglomerate that also controls
Cartier watches and the Net-a-Porter website, shored up
Dunhill's finances in 2012, according to accounts filed this
CITY VETERAN FINDS BACKERS TO RUN POWER LINE FROM ICELAND
The financier Edi Truell has lined up international
investors to back a 1,000-mile cable under the Atlantic to
import electricity from Iceland.
RSA INVESTORS BACK HESTER TO RAISE 500 MLN STG
Stephen Hester, the new boss of RSA Insurance, has
been given the green light by investors to launch a 500 million
pound rescue rights issue.
GOLDMAN SAILS AWAY FROM PORTS
A stake in Britain's biggest ports operator could be up for
grabs after two investors started exploring a sale of their 33
Goldman Sachs and Prudential are considering selling
their stakes in Associated British Ports, which owns and runs 21
sites, including Southampton and Hull.
VODAFONE IN 6 BLN STG SPANISH CABLE SWOOP
Vodafone has tabled a 7 billion euro takeover bid
for Ono, a Spanish cable company, in its latest attempt to boost
its flagging European business.
AUSSIES TO JOIN 10 BLN STG BANK FLOAT STAMPEDE
National Australia Bank is examining a possible 2
billion pound float of its British operations (Clydesdale and
Yorkshire banks) as a wave of new high street lenders prepares
to hit the stock market.
ECIGARETTE PIONEERS IN LINE FOR A PACKET
Two entrepreneurs behind a leading electronic cigarette
brand could sell their business for up to 50 million pounds.
Art Devlin and Tony Jones, the founders of Cheshire-based
Ten Motives, have hired adviser BDO after receiving takeover
approaches, but it is unclear whether the duo will sell.
The Sunday Telegraph
EUROZONE BANKS FACE 42 BLN STG "CAPITAL BLACK HOLE"
Eurozone banks are facing a new capital black hole of as
much as 50 billion euros ($68.1 billion), according to one of
the UK's most respected financial analysts.
LEGAL FIGHT OVER GAME COLLAPSE
A collection of Britain's largest property companies and the
computer game retailer Game will clash in the Court of Appeal
this week over tens of millions of pounds of unpaid rent.
RBS COULD PUT BRAKE ON LIBERTY'S BATTLE FOR F1
The Royal Bank of Scotland and Goldman Sachs
could block plans for a takeover of Formula One by Liberty Media
PUNCH DEBT DEAL "ONLY BENEFITS SHAREHOLDERS"
Lenders to Punch Taverns, the embattled pubs group, have
accused the company of "scare-mongering" in order to push
through a 2.3 billion pound debt restructuring deal this week.
FLOAT BECKONS FOR TRADING SITE
Ratedpeople.com, the website that matches home-owners with
local tradesmen, will join the stream of companies debuting on
London's junior Aim market this year.
SIR STELIOS SET TO VOTE AGAINST CAROLYN MCCALL'S 6.4 MLN STG
EasyJet founder Sir Stelios Haji-Ioannou is set to vote
against the 6.4 million pound pay package awarded to the
low-cost carrier's chief executive, Carolyn McCall.
"ANTI-GOOGLE BIAS" CLAIM HITS HARVARD PROFESSOR WHO CAUSED
40 PCT FALL IN BLINKX SHARE PRICE
The Harvard researcher whose criticisms of Blinkx
prompted a collapse in the company's share price has previously
faced accusations of producing biased research.
The Mail on Sunday
EXPOSED: BARCLAYS ACCOUNT DETAILS FOR SALE
Barclays is reeling from an unprecedented security breach
after thousands of confidential customer files were stolen and
sold on to rogue City traders.