LONDON, Dec 16 (Reuters) - British newspapers reported the following business stories on Sunday:
Stricken electricals retailer Comet collapsed under almost 200 million pounds ($322 million) of losses which will leave the taxpayer facing a 26 million pounds hit.
BANKS FACE FRESH SPLIT THREAT AS PARLIAMENT EYES NEW LEGISLATION
Banks face the threat of being broken up if they do not implement reforms aimed at improving their behaviour.
Archie Norman, the chairman of ITV, has made a passionate plea in defence of Britain’s banks and described critics of the City of London financial district as “First World War generals hell-bent on fighting the last war.”
OFGEM ACCUSED OF SERIOUS ERRORS IN BATTLE OVER NATIONAL GRID SPENDING
National Grid has accused energy regulator Ofgem of making “numerous errors and questionable judgements” in deciding that almost 5 billion pounds should be slashed from the company’s 33.5 billion pounds spending plans.
Danish brewer Carlsberg has become the latest drinks group to oppose government proposals to introduce minimum unit pricing for alcohol to tackle Britain’s binge-drinking culture.
American vulture fund, Apollo Global Management, is plotting to seize control of HMV after the high street chain’s warning that its future is hanging by a thread.
Exxon Mobil, the world’s largest oil company, is considering a bet on Britain’s nascent shale gas revolution.
Independent on Sunday
MOTHERCARE CHIEF FACES INVESTOR BACKLASH OVER 6.7 MLN STG BONUS DEAL
Mothercare’s chief executive Simon Calver, is bracing himself for a backlash over his highly incentivised pay package, which could see him pocket 6.7 million pounds.