LONDON Jan 5 British newspapers reported the
following business stories on Sunday:
The Sunday Telegraph
M&S TO REPORT THIRD POOR CHRISTMAS IN A ROW
Marks & Spencer has suffered its third disappointing
Christmas in a row with a revamp of its clothing failing to stop
sales declining, figures are expected to show this week.
GOVERNMENT TO SELL 12 BLN POUNDS OF STUDENT LOANS
The government is to sell 12 billion pounds ($19.7
billion)of student loans as it seeks to dispose of further
public assets to reduce the deficit.
SCOTTISH POWER TO CUT ENERGY BILLS BY 3.3 PCT
Iberdrola's Scottish Power is preparing to cut
household energy bills by 3.3 percent, becoming the fourth major
supplier to pass on savings from the UK government's deal to cut
RSA SCANDAL "ISOLATED INCIDENT"
An independent investigation by PricewaterhouseCoopers into
the 200 million pounds capital black hole at insurer RSA
is expected to conclude it was an isolated incident with no
further write-downs needed.
IPO SURGE BOOSTS BANK BONUSES
Bonuses at the London arms of major banks are set to rise
after UK investment banking fees rose by 12.5 percent last year
to $4.65 billion as companies enlisted advisers in a flurry of
stock market floatations.
RENISHAW SEEKS NEW WAYS TO FILL PENSION GAP
Engineering firm Renishaw is in talks with the
pensions regulator over alternative ways to fill the group's
41.7 million pounds pension deficit.
ROTHSCHILD BANKERS MADE PARTNERS
Rothschild, the 202-year-old investment bank, has set up a
partnership for 48 of its most senior bankers as the final step
of a drawn-out process to unite its French and British branches.
The Sunday Times
M&S HAS CHRISTMAS SALES DISASTER
Marks & Spencer will admit to dismal Christmas trading this
week, after frantic price cuts failed to halt a slide in sales.
HEDGE FUND TRADERS BAG 100 MLN POUNDS
Members of the British division of Brevan Howard, the hedge
fund founded by five former Credit Suisse traders, have shared
more than 100 million pounds in salaries, bonuses and other
CARNEY SET TO CHANGE UNEMPLOYMENT TARGET
Mark Carney is set to amend the Bank of England's forward
guidance by changing the unemployment benchmark at which an
interest rate rise will be considered. Sharply falling
unemployment means the 7 percent unemployment threshold could be
achieved soon and economists expect the Bank's monetary policy
committee to shift it to 6.5 percent.
MINER AVOCET SEEKS MERGER PARTNER
Gold producer Avocet Mining has launched a
last-ditch search for a merger partner to stave off a cash
The Mail on Sunday
HIGH STREET STORES PANICKED INTO PRE-CHRISTMAS PRICE CUTS
Shoppers forced many high street stores into panic sales in
the last few days before Christmas as they refused to pay top
prices, according to data from Barclaycard.
DOMINO'S PIZZA SEEKS TO REASURE INVESTORS
Domino's Pizza UK hopes to reassure nervous
investors with strong sales figures this week following the
sudden resignation of its Chief Executive Lance Batchelor.
ALDI AND LIDL ENJOY RECORD CHRISTMAS SALES
Budget supermarkets Aldi and Lidl had
their best Christmas trading on record, with both set to see
double-digit sales growth over December.
CIRCLE SET FOR HOSPITAL EXPANSION
Private hospitals operator Circle is plotting to
acquire up to 10 hospitals from its rivals as a result of a
Competition Commission review into the sector.