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Sunday Papers: Standard Chartered eyes $1bn buyback

And Edinburgh airport is to be sold this year for as much as £2 billion as its private equity owner aims at soaring valuations for aviation infrastructure.

Sunday Papers: Standard Chartered eyes $1bn buyback

Top stories

  • The Sunday Times: Standard Chartered is preparing a bumper cash return of more than $1 billion to shareholders through its first share buyback programme in nearly two decades.
  • The Sunday Telegraph: Edinburgh airport, Scotland’s busiest flight hub, is to be sold this year for as much as £2 billion as its owner Global Infrastructure Partners bids to cash in on soaring valuations for aviation infrastructure.
  • Mail on Sunday: Details of a spectacular $480 million business disaster suffered by the corporate raider Edward Bramson have been revealed days before he faces vote in board battle.
  • The Sunday Times: The telecoms giant BT has called for a shake-up of Ofcom, claiming that the regulator could become too powerful after Britain leaves the EU.

Business and economics

  • Mail on Sunday: Multi-millionaire tycoon Frank Timis, one of the City's most controversial characters, has made an extraordinary return to the Square Mile with a coup at the top of a London-listed bitcoin company Argo Blockchain.
  • The Sunday Times: Sir Philip Green has offered to give his flagship Topshop store on London’s Oxford Street as security to the group’s troubled pension funds as he tries to push through a restructuring.
  • The Sunday Times: Superdry’s returning founder Julian Dunkerton has taken early steps to throw out the work of his predecessor, cancelling a childrenswear range and pulling out of a footwear licensing deal.
  • The Sunday Times: Debt-laden oil explorer Tullow Oil faces revolt from a leading shareholder advisory group ISS over concerns about “soft” bonus targets at its annual meeting on Thursday.
  • Mail on Sunday: The American owner of The Priory Group is considering a £1 billion sale of the scandal-hit mental healthcare giant.
  • The Observer: UBS analysts expect the space business to be worth nearly $1 trillion a year within the next two decades, up from $340 billion currently.
  • The Sunday Times: The FTSE 100 oil giant Shell has called for taxpayer subsidies to help it cut pollution by trapping carbon dioxide emissions underground.
  • The Sunday Times: Serious concerns were raised about a contractor’s ability to build a key High Speed 2 station before it won the £1.3 billion contract, according to a High Court claim.
  • The Sunday Times: Mike Ashley has accused the Debenhams’ administrators of not running a “genuine” sales process, unleashing a fresh broadside in his quest to buy the company.
  • The Sunday Times: Recruitive Software, a collapsed software developer, failed to disclose that it had fallen behind on tax payments when it raised £280,000 from crowdfunding investors, raising further questions about the growing subsector of fintech.
  • The Observer: A website that tricks unwary drivers into paying three times the cost of using the Dartford crossing has been removed from the top of Google search results.
  • The Sunday Times: Upmarket fashion brand Reiss is set to report like-for-like sales growth of 13.2% for the year to February.
  • The Sunday Telegraph: Public borrowing for 2018-19 is set to come in at just over £22 billion, below the £25.5 billion predicted by the Office for Budget Responsibility last autumn, and £15 billion lower than forecast in March last year.
  • The Sunday Telegraph: The Bank of England’s interest rate setters are headed for a split decision on whether to increase the cost of borrowing next month, amid tensions over the dominance of Brexit in decision making.

Share tips, comment and bids

  • Mail on Sunday: Irish-Swiss food giant Aryzta is weighing up a sale of its UK logistics operation.
  • The Sunday Telegraph: Anglo American has called in a trio of investment banks to fend off takeover bid from Volcan Investments, mining tycoon Anil Agarwal’s holding company.
  • The Sunday Telegraph: SuperAwesome, a London-based start-up building technology to keep children safe online, is being wooed by US bankers for an upcoming market float which could see it land a price tag of $600 million.
  • The Sunday Telegraph: A string of suitors have approached debt-laden tour operator Thomas Cook in recent weeks after a plunge in its stock market value made it a takeover target.
  • The Sunday Telegraph: Contracting giant Amey is on the verge of striking a deal with Birmingham Council to avert a collapse that would endanger more than 20,000 jobs.
  • The Sunday Times: Sir Martin Sorrell’s S4 Capital is facing a legal battle in Holland over the company’s £266 million acquisition of the creative agency MediaMonks.

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