LONDON Aug 10 British newspapers reported the
following business stories on Sunday. Reuters has not
independently verified these media reports and does not vouch
for their accuracy.
THE SUNDAY TIMES
EX-FT BOSS JOINS RACE FOR TOP JOB AT BARCLAYS
The former chief executive of the Financial Times and the
government's favourite troubleshooter have emerged as two of the
leading contenders to become the new chairman of Barclays.
Rona Fairhead, who ran the newspaper group for seven years
and is a long standing non-executive director of banking giant
HSBC >, is said to be among the shortlisted candidates.
Sir Howard Davies, the former Treasury mandarin who has been set
the task of resolving Britain's airports strategy, is also
believed to be in the running.
PROFITS SLUMP AT SERCO AND G4S
Embattled outsourcing giant Serco will report a slump in
half-year profits this week thanks to its "corporate renewal"
programme and contract woes.
PUNCH POISED TO END PUB BRAWL WITH DEBT DEAL
Punch Taverns is set to bring the war between its shareholders
and creditors to an end tomorrow when it launches a painful
restructuring of its 2.2 billion pound debt pile.
LADBROKES CHIEF IN LAST THROW OF THE DICE
The boss of Ladbrokes faces a showdown with shareholders this
week when the struggling bookmaker admits that first-half
earnings are down about a third.
SAGE FOUNDER TO LEAVE WITH 6 MILLION POUNDS
The boss of British software developer Sage Group could
pocket a leaving package of as much as 6 million pounds when he
retires in March.
THE SUNDAY TELEGRAPH
MOULTON CIRCLES TURBULENT MONARCH AS PWC STANDS BY
Jon Moulton, the venture capitalist, is among a small group of
distressed and private equity investors considering pumping
money into Monarch as the struggling travel group aims to
restructure its holding company.
Interest has come from Mr Moulton's Better Capital
, which focuses on struggling companies, HIG Europe, another
turnaround specialist, and private equity firms Towerbrook and
Indigo Capital. Company insiders say they are hopeful of having
a deal by Christmas.
OFGEM 'TO BLAME' FOR HIGH PRICES
Ofgem may be to blame for high profits and prices, five former
regulators have warned competition authorities investigating the
The Competition and Markets Authority has launched an
18-month probe into the energy market at the request of Ofgem,
after the energy regulator concluded that millions of households
were paying too much for their gas and electricity because of a
lack of competition in the sector.
In a submission to the CMA, to be published on Monday, five
former energy regulators including Stephen Littlechild and Sir
Callum McCarthy suggest that Ofgem may have weakened competition
through poorly designed regulation imposed since 2008.
FTSE CHAIRMAN REJECT TIGHTER TAKEOVER RULES
Three quarters of FTSE 100 chairmen have rejected government
plans to bring in legislation surrounding foreign takeovers,
saying that there is no need for a public interest test. In the
most detailed survey of chairmen of the boards of Britain's
biggest companies, some 74 percent said that they supported the
UK's liberal takeover regime and did not think it should be
restricted to protect national assets.
TESCO FEARS HIT SAINSBURY'S
Short-sellers are targeting Sainbury's amid fears that Tesco's
new chief executive will shake up the supermarket sector by
LANSDOWNE BUYS INTO ONLINE LUXURY
Lansdowne Partners, one of the world's biggest hedge funds, has
taken an equity stake in Achica, the online luxury homewares
HSBC CHIEF REJECTS BARCLAYS WEALTH MODEL
HSBC chief executive Stuart Gulliver has pledged to retain his
group's private bank as a standalone division, in what is seen
as a veiled attack on the decision by Barclays to roll its
private banking arm into its retail business.
EX-GB GROUP CHIEF EXECUTIVE JOINS INTEROIL
Chris Finlayson, the former chief executive of BG Group
has found a new home as chairman of InterOil the
New-York-listed oil and gas company developing one of the
largest natural gas fields to be discovered in Asia in recent
Mr Finlayson, 58, resigned as chief of BG group in April
after only 15 months in the job, amid disagreements with
chairman Andrew Gould over the company's strategy.
(Complied by Li-mei Hoang; Editing by Lynne O'Donnell)