Citywire for Financial Professionals

View the article online at

Sunday Papers: L&G readies £10bn bid for Pru pensions

And changes to business rates appeals system fears ignored ahead of start date.

Sunday Papers: L&G readies £10bn bid for Pru pensions

Top stories

  • The Sunday Times: Legal & General, Britain’s third-biggest insurer, is preparing to bid for a £10 billion slice of Prudential’s annuity business.
  • The Sunday Telegraph: The Government pushed ahead with plans to overhaul the appeals system for business rates despite not receiving a single consultation response in support of them.
  • The Sunday Times: Flight prices may be pushed higher to cover the financial risk of delays or construction problems on Heathrow’s new third runway as the airport is demanding the right to make airlines and passengers contribute to any unexpected cost overruns or engineering problems on the £18.6 billion project.
  • The Sunday Telegraph: Britain’s landlords could cost the energy system hundreds of millions of pounds by using loopholes in the Government’s housing standards to avoid improving ­energy efficiency.

Business and economics

  • The Sunday Times: More than half of AIM-listed Telit Communications’ value has been wiped out in an extraordinary week in which disappointing results were followed by the announcement that its boss, Oozi Cats, may be linked to a 25-year-old fraud case; investors are also enquiring about the proceeds of a $50 million fundraising that took place earlier this year.
  • The Sunday Times: Google is creating new safeguards to give advertisers greater control over where their ads appear, in an attempt to quell the revolt that flared up in the wake of the YouTube extremism scandal.
  • The Sunday Times: Diageo is embroiled in a row with the French taxman over a large slug of back taxes from the drinks giant; France’s tax authorities have accused the Johnnie Walker and Guinness owner of not paying enough corporation tax on its earnings in the country.
  • The Sunday Telegraph: American hotel giant Hilton is planning on increasing the size of its UK estate by almost 25% in a vote of confidence in the British economy as it moves to leave the European Union.
  • The Sunday Telegraph: Luxury holiday home firm Park ­Leisure is planning to double in size within seven years on the back of a ­recent cash injection from its new private equity owners.
  • The Sunday Times: A leading North Sea oil expert has said that the accelerated shift to electric cars and renewables could damage investment in the industry and accelerate “peak oil” - the point at which global crude production reaches its maximum rate before going into irreversible decline.
  • The Sunday Times: Hikma Pharmaceuticals will face questions this week over its progress in getting a generic version of a key asthma drug over the line.
  • The Sunday Telegraph: Crew Clothing, the British retailer famed for its nautically-inspired clothes, lifted sales by almost 6% last year while its losses swelled after splashing out on its head office.
  • The Sunday Telegraph: American-themed eatery TGI Friday’s has suffered a sales dip after new entrants flooded the casual dining market.
  • The Sunday Times: Investment bank Gleacher Shacklock has blamed the Brexit vote for a deals drought that has more than halved its profits.
  • The Sunday Telegraph: BT shareholders are urging more change at the top of the company, with one top 20 investor calling on the company to line up a replacement for chief executive Gavin Patterson.

Share tips, comment and bids

4 comments so far. Why not have your say?


Aug 13, 2017 at 10:28

Big falls this week need Corpral Jones

report this


Aug 13, 2017 at 18:21

Don't agree. Little news today on probs in Korea, I think there will be a bit of a rally? Anyway, one of us will be correct Tomboy!

report this


Aug 13, 2017 at 20:11

Misunderstanding ment last week sorry fingers crossed

report this

J Thomas

Aug 13, 2017 at 20:23

Monday seems a good buying opportunity after the latest North Korea spat.

Scenario one: Quiet diplomacy wins out and everything goes back to normal -Buy.

Scenario two: Nuclear Armageddon unfolds and we all get fried in the next week - Buy ( your money will be worthless anyway.)

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts

In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.

Watch Now

Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add to your safe senders list so we don't get junked.


David Kempton: I’m 42% up despite Carillion carnage

by David Kempton on Jul 19, 2018 at 13:32

Sorry, this link is not
quite ready yet