LONDON, March 31 (Reuters) - British newspapers reported the following business stories on Sunday:
The Sunday Times
ATTACK ON ‘ABSURD’ ENERGY PLANS
Big business has forged a powerful new alliance with consumer groups to stop “absurd” coalition energy policies that they claim will send Britain “sleepwalking into blackouts”.
PRU SNUBS WATCHDOG WITH CHIEF‘S 7 MLN STG BONUS
Prudential is to deliver a parting rebuke to the Financial Services Authority by presenting a 7 million pound bonus to its chief executive.
RBS is planning further drastic cuts at its investment banking division after the Bank of England ordered lenders to fill a 25 billion pound black hole in their reserves this year.
Glencore’s 50 billion pound takeover of Xstrata could be finalised within days as the commodities trader examines a multi-billion-dollar mine sale to appease Chinese regulators.
Adair Turner, the departing chairman of the Financial Services Authority, has landed a new role at a think tank bankrolled by George Soros.
Exports from Britain’s service sector are approaching highs last seen in the mid 1990s, the British Chambers of Commerce will say in its quarterly economic survey on Tuesday.
WorldPay, the credit card processing company, is believed to be in talks with the owners of the Walbrook about a 100,000 sq ft letting - almost a quarter of the building.
KFC, the fried-chicken restaurant will create 1,600 jobs this year as part of plans to open 40 new outlets.
A 41-year-old hedge fund manager has resigned after making $630 million in six years.
The Sunday Telegraph
‘STEALTH TAX ON ENERGY’ ATTACKED
The government’s new carbon levy is effectively a “stealth poll tax” that will only work to put up household electricity bills and hand a windfall to old nuclear plants, the head of energy giant E.ON has warned.
Several major airlines have joined talks to sell their stake in Britain’s 1 billion pound national air traffic controller, in concert with Thomas Cook and TUI Travel.
‘I‘M STAYING,’ APAX CHIEF PROMISES INVESTORS
APAX’s chief executive Martin Halusa, has reassured investors he will stay on for three more years once the private equity firm has raised its new 6 billion to 9 billion euro fund.
INQUIRY INTO CLAIMS FIRM OVER MIS-SELLING DATA ‘LEAK’
The Ministry of Justice is investigating a claims management company founded by a former Barclays banker after receiving complaints from small businesses with claims against the bank over mis-sold interest rate hedging products about a potential leak of their confidential financial information.
The Mail on Sunday
The promised clampdown on payday loan companies will be delayed by months after it emerged that some of the firms have still not been given a formal warning of their offences.
Lloyds will rebrand 632 branches under the TSB name by the start of September, regardless of whether the deal to sell them to the Co-operative Bank goes ahead.
Train operating companies are expected to save millions of pounds by renegotiating their franchise agreements with the government after last week’s announcement extending many of the contracts.