LONDON, April 6 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
BANKS SQUEEZE LENDING AS HOUSING BUBBLE FEAR GROWS
Banks are planning the sharpest squeeze in mortgage
approvals since the height of the euro zone crisis, on concerns
that Britain is heading towards a housing bubble, according to
the latest Bank of England credit conditions survey.
PREMIER OIL COULD CHOOSE KALLOS AS NEW CEO
Peter Kallos, the chief executive of a small
Turkmenistan-focused developer, is the front runner to replace
the head of oil explorer Premier Oil.
Premier Oil announced in February that CEO Simon Lockett was
stepping down after nine years amid investor pressure.
BARCLAYS FACES SHAREHOLDER REVOLT OVER BONUSES
Barclays is facing a serious shareholder revolt
over the rocketing bill for the bonuses of dealmakers and
traders at its investment bank, sources said.
Up to a quarter of investors are likely to stage a protest
this month, saying spiralling payouts have eroded profit
MADE.COM CONSIDERS FLOAT TO FUND EXPANSION IN EUROPE
Online furniture retailer Made.com has held talks with
advisors about a potential share offering as the company, which
already operates in Britain, France and Italy, seeks funds to
speed up its expansion in Europe.
The Sunday Telegraph
M&S CHIEF UNDER PRESSURE AS SALES FALL AGAIN
Pressure will grow on Marks & Spencer (M&S) and its
chief executive Marc Bolland this week as the British retailer
is expected to post another fall in clothing sales.
Analysts expect M&S to report a one percent fall in
like-for-like quarterly clothing sales on Thursday, its 11th
quarterly fall, despite having spent millions of pounds to
revamp its clothing range and in marketing campaigns.
Food sales are expected to have risen by 0.1 percent.
AMEC CEO URGES SCOTLAND TO REJECT SEPARATION
Samir Brikho, the chief executive of engineering company
Amec was the latest business leader to urge voters to
reject Scotland's separation from the UK.
Scottish independence would create uncertainty at a time
when the North Sea required billions of pounds of investment to
maximise oil and gas production.
UK FORMER CHANCELLOR SAYS BANKING RING-FENCE WILL NOT WORK
Lord Lawson, a former UK chancellor of the exchequer, said
the government's reform which proposes ring-fencing retail and
investment banking should be scrapped.
Lawson said such reform would not prevent a new crisis and
left banks too big and complex
ENERGY FIRM SEEKS FUNDS FOR NEW NORTH SEA GAS PROJECT
Newcastle-based Five Quarter is seeking government support
and financial backers for a new energy project to produce gas
from coal locked in seams under the seabed off the coast on
northeast of England.
Work on the project - a $1.2 billion hybrid scheme between
coal mining and gas drilling which could eventually provide
cheap energy and raw materials to the Teesside industry, could
begin within months.
Mail on Sunday
INVESTMENT COMPANY ZAMADINI OFFERS HELP TO MINER UK COAL
Zamadini, a resource investor whose founder is linked to a
family of Indian mining tycoons, has offered help to Britain's
UK Coal, a mining company on the brink of insolvency, with 2,000
jobs under threat.
London-based Zamadini, headed by Muqit Teja, son-in-law of
mining firm Zamin owner Pramod Agarwal, has offered "assistance
and collaboration" to UK Coal, which owns two of Britain few
remaining deep-pit coal mines and is seeking help for a managed
closure of the sites.
Other parties that could be interested in buying assets or
investing in UK coal are rival coal miner Hargreaves Services
and investor Jon Moulton.
CARLYLE CONSIDERS SALE OR LISTING FOR RAC
Private equity firm Carlyle is considering options
including the sale or listing of roadside recovery specialist
Carlyle bought RAC for $1 billion in 2011 from insurance
giant Aviva. Should a sale be chosen as the preferred option,
the private equity firm would seek at least $1.7 billion.
US DEFENCE GROUP DYNCORP LOOKS TO BUY DEFENCE SUPPORT GROUP
U.S. defence group Dyncorp is looking to enter
the UK market and is considering buying the government's
military vehicle maintenance group Defence Support Group (DSG).
Dyncorp is among nine bidders for DSG, which could fetch up
to $300 million.
BP TO ASK JUDGES TO REVIEW OIL SPILL PAYOUT CLAIM
Oil giant BP is to ask U.S. judges to review a
decision that the company says forces it to continue to pay to
bogus compensation claimants in relation with the 2010 Gulf of
Mexico oil spill.
(Reporting by Silvia Antonioli; editing by David Evans)