LONDON, June 23 (Reuters) - British newspapers reported the
following business stories on Sunday:
The Sunday Times:
ROYAL MAIL CHIEF'S 1.5 MLN STG PAY STOKES SELL-OFF ROW
Moya Greene, the chief executive of Royal Mail is set to be
handed a pay package worth more than 1.5 million pounds in a
move that will inflame tensions between the company and unions
over wages, pensions and an imminent 3 billion pound
MANDARINS IN BANK RACE
Two Treasury mandarins who led the bail-out of Britain's banks
in 2008 are believed to be in the running to become the new
deputy governor of the Bank of England. John Kingman and Tom
Scholar are the 'short-odds candidates' for the job, according
to sources close to the search process.
BT BOSS TO LAND 20 MLN STG FAREWELL
The boss of BT, Ian Livingston, will walk away with about
20 million pounds when he leaves the telecoms giant later this
year to become Britain's trade minister.
PRET'S BUMPER TAKEAWAY
The owner of Pret A Manger is in line for a 150 million-pound
payday after renegotiating the sandwich chain's debts.
BANKER BONUSES FOR GLAXO BOFFINS
Scientists at Britain's biggest drug company are in line for
banker-style bonuses if the medicines they discover make it to
market. GlaxoSmithKline could offer payouts of between 5
million pounds and 10 million pounds a drug.
PUB OWNERS AT LOGGERHEADS WITH MPS
The owners of Britain's pubs have been accused of misleading
parliament, trying to bully MPs and calling politicians 'morons'
in their campaign against plans to regulate the industry.
1 BILLION-POUND INJECTION WILL REV UP CAR INDUSTRY
Ministers are set to pump taxpayers' cash into a partnership to
support Britain's booming car industry.
SEGRO CHARGES INTO EUROPE WITH MOUNTIES' PENSION FUND
Segro is plotting an ambitious European deal with the
Canadian pension fund that looks after Mounties' retirement
BUMI CHIEF TIGHTENS PURSE STRINGS
Bumi has set up an elaborate financial control system
that requires the chief executive to enter a secret code for any
payments of more than $1 million.
COWDERY PLANS 600 MLN STG U.S. DEAL
Clive Cowdery, the insurance tycoon, is planning his first move
into America with a swoop on a life assurer worth up to 600
million pounds. The founder of the Resolution financial services
empire has tabled an offer for Lincoln Benefit Life, which has
been put up for sale by the American insurance giant Allstate .
The Sunday Telegraph:
STARBUCKS PAYS FIRST TAX SINCE 2008
Starbucks has made its first corporation tax payment to
HMRC since 2008, paying 5 million pounds for the first six
months of the year despite the business making a loss of 30
million pounds in the UK.
INVESTORS TURN ON OSBORNE OVER RBS INTERFERENCE
Investors in the Royal Bank of Scotland have criticized
the amount of government interference in the state-backed
institution following the ousting of Stephen Hester and the
Chancellor's plans to carve out a 'bad bank'.
CO-OP UNLIKELY TO CLAW BACK CASH OVER 1.5 BLN STG BLACK HOLE
The Co-operative Group is unlikely to be able to claw
back any money from the former chief executive, Peter Marks, or
the former bank head, Neville Richardson, despite the revelation
that the bank had a 1.5 billion capital shortfall.
WALSH ATTACKS 40 PERCENT HEATHROW PRICE RISES
The chief executive of International Airlines Group, the
owner of British Airways, has attacked Heathrow Airport for
applying to charge airlines 40 percent more to use the airport
over the next five years.
ENERGY REGULATOR TO WARN OVER BLACKOUTS
OFGEM is preparing to issue its starkest warning yet over the
growing risk of black-outs in Britain as power stations are shut
and investment in new plants stalls.
WAITROSE MOVES TO EASE TENSIONS OVER OCADO TIE-UP
The managing director of Waitrose, Mark Price, has
moved to cool the war of words with Ocado by stating
that the grocer wants to continue its contract with the online
BP-BACKED OIL FIRM POISED FOR CITY FLOAT
Hurricane Energy, a north sea oil explorer backed by BP, is
preparing to float in London with a market capitalization in
excess of 350 million pounds.
Independent on Sunday:
CITY SHIRTMAKER IN SHOP WINDOW FOR 100 MLN STG AFTER PROFIT FALL
TM Lewin, the 115-year-old City shirtmaker, could go up for sale
for as much as 100 million pounds, having spoken to potential
advisers over strategic options for the business.
TOUGH PROBE INTO PAYDAY LOAN FIRMS
The Competition Commission will next week launch a hard-hitting
investigation into payday loans companies, which can see
borrowers charged more than 4,000 percent.
Mail on Sunday:
Donations to Labour MPs including Shadow Chancellor Ed Balls
must be axed by the Co-op Group before it penalises bondholders
in its troubled bank, Conservative MP Andrea Leadsom says.
(Reporting by Matt Scuffham; Editing by Greg Mahlich)
Keywords: BRITAIN PRESS DIGEST/
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