LONDON, Nov 25 (Reuters) - British newspapers reported the following business stories on Sunday:
HOWARD CROWNED HEDGIES’ KING
Alan Howard, co-founder of Brevan Howard, has topped the Sunday Times’s first Hedge Fund Rich List with a fortune of 1.4 billion pounds ($2.2 billion).
Ron Dennis, the executive chairman of McLaren Group, banked 5.6 million pounds last year. Accounts for the Formula One and sports car group show pretax profits of 19.7 million pounds, up from 12 million pounds previously.
Playtech, the world’s biggest developer of gambling software, is part of a consortium that has registered an interest in buying a 33 percent stake in state-controlled Greek betting firm OPAP.
Kuoni, the Swiss travel firm, is in advanced talks to sell luxury ski holiday division Ski Verbier to investment firm Bluebird Partners.
Business leaders have urged UK finance minister George Osborne to kick-start the economy by giving bigger tax breaks for investment in plant and machinery.
Bart Becht, the former boss of Reckitt Benckiser, owns shares worth $66.5 million in U.S. cosmetics firm Coty, which is set to float next year.
McCarthy & Stone, Britain’s biggest builder of retirement homes, is preparing for a share listing, refinancing or sale after hiring investment bankers at Moelis & Co to carry out a strategic review.
Buyout firm CVC and Japan’s Sumitomo are among the final bidders battling to take over UK utility Sutton and East Surrey Water.
BAE Systems’ most senior executive in the UK has said one of Britain’s major shipyards is likely to close, with a decision expected before Christmas.
RBS FEARS “DOUBLE HIT” OF LIBOR FINES
Royal Bank of Scotland is concerned it could receive separate fines for its alleged involvement in the Libor-fixing controversy, one from the UK’s Financial Services Authority and one from the U.S. regulators. The settlement could come as early as next month.
The new CEO of Thomas Cook, Harriet Green, is to warn that further costs need to be stripped from the business as it prepares to unveil a second year of losses.
Malaysia Airports Holdings has entered the running to buy Stansted airport, as the owner of London’s third hub, BAA FERBA.UL], attempts to stoke up competition in the 1 billion-pound bidding process.
Douglas Flint, the chairman of HSBC, is pushing for bankers to take an oath similar to that sworn by doctors as part of radical plans to overhaul the way the profession is viewed.
Short-term online retail lender Wonga has held discussions with bankers about raising a 200 million-pound or more bond to fund the company’s fledgling business-lending arm.
Publisher Top Right Group, formerly known as Emap, has been working on a sale of the Middle Eastern Economic Digest.
Independent on Sunday
CVC Capital Partners has started talks with potential investors for an 11 billion-euro ($14 billion) buyout fund.