LONDON Aug 11 British newspapers reported the
following business stories on Sunday:
The Sunday Telegraph
CABLE: RBS SELL-OFF "FIVE YEARS AWAY"
Britain's Business Secretary Vince Cable does not think that
state-controlled lender Royal Bank of Scotland will be
back in private hands for another five years.
SUGAR COMPLAINS OVER 10 MLN STG LLOYDS FEES
Business owner Alan Sugar has complained to Lloyds Banking Group
over it sale of a hedging product on a loan taken out
against part of his property empire.
RIVALS VIE FOR 2.8 BLN STG SMART METER CONTRACTS
Britain's biggest telecoms and outsourcing companies are vying
for 2.8 billion pounds of contracts crucial to the government's
plan to install a 'smart' energy meter in every home by 2020.
RBS BANK BIDDER REVEALS DEAL CEO
Mike Fairey, the former deputy chief executive of Lloyds TSB, is
to co-lead AnaCap and Blackstone's bid for the Royal Bank of
Scotland's 'Project Rainbow' small business bank.
CAMERON URGED TO 'REMAIN IN EU PROJECT'
Paul Ruddock, co-founder of hedge fund firm Lansdowne Partners,
said Britain should remain in a reformed European Union and that
it would be "a disaster" if it left the free-trade area.
The Sunday Times
ROYAL MAIL PUMPS 90 MLN STG INTO BOSSES' PENSION PLAN
Royal Mail has set aside an extra 90 million pounds for an
executive pension scheme while asking rank-and-file workers to
accept reduced retirement benefits.
A Royal Mail spokeswoman said on Sunday that the Senior
Executives Pension Plan had a "significant deficit" and the
company was "legally-obliged" to make payments into it. She
added that members' benefits in its main pension plan up to
March 31 2012 are government-backed.
JAGUAR TO CREATE 1,000 MERSEY JOBS
Jaguar Land Rover is preparing a big expansion at its Halewood
factor in Merseyside because of demand for its Range Rover
Evoque, in a move that could create up to 1,000 new jobs.
PAYDAY FOR SELLAFIELD CONSORTIUM
The American-led consortium that manages Sellafield, Europe's
biggest nuclear waste dump, pocketed a 25 million pound dividend
last year, despite falling behind on 12 of its 14 projects.
Nuclear Management Partners is made up of U.S. engineer URS,
French nuclear firm Areva and British engineer Amec.
TRIO EYES GAS DEAL
Hong Kong infrastructure group CKI, Japanese trading house
Itochu and Singapore's Sembcorp are competing for a 50 percent
stake in the Marchwood gas-fired power station near Southampton,
LADBROKES CHIEF 'TOAST' UNLESS PROFITS REBOUND
Shareholders in Ladbrokes are cranking up the pressure on CEO
Richard Glynn after the bookie blamed hot weather for a fall in
profits of almost 50 percent. Top investors said Glynn had until
Ladbrokes' first quarter results next April to start showing
signs of a turnaround.
GERMANY BATTLES BOFFINS OVER NATS
Pension fund the University Superannuation Scheme is vying with
Deutsche Flugsicherung, Germany's state-owned air traffic
controller, for a 20.5 percent stake in Nats, Britain's air
JOHN LEWIS IN SHOP RATES PLEA
The head of retail group John Lewis has called on the
government to review taxes on high street retailers in a bid to
level the playing field with online rivals.
Independent on Sunday
TREASURY AIMS TO ATTRACT INSURERS BACK TO UK
The Treasury is hoping to tempt Lloyd's of London insurers back
to the UK and discussions have been held with firms over what it
would take to make the UK a more attractive tax residency.
CARDIFF CITY EYES LISTING IN THE FAR EAST
Mehmet Dalman, chairman of Cardiff City football club, has held
talks with investment bankers about a possible stock market
listing of the Premier League club. Options being considered
include listing in Hong Kong or Kuala Lumpur.