LONDON, Jan 5 (Reuters) - British newspapers reported the following business stories on Sunday:
The Sunday Telegraph
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.
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.
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 green levies.
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.
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.
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, 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
Marks & Spencer will admit to dismal Christmas trading this week, after frantic price cuts failed to halt a slide in sales.
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 payments.
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.
Gold producer Avocet Mining has launched a last-ditch search for a merger partner to stave off a cash crunch.
The Mail on Sunday
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.
Budget supermarkets Aldi and Lidl had their best Christmas trading on record, with both set to see double-digit sales growth over December.
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.