Sunday newspaper round-up: Asda, B&M, Greece, Bowling, Brexit

Market Buzz

Sunday newspaper round-up: Asda, B&M, Greece, Bowling, Brexit

Mon, 24 July 2017
Article viewed 212 times
Sunday newspaper round-up: Asda, B&M, Greece, Bowling, Brexit
Sky Quote more

Price: 931.00

Chg: -5.00

Chg %: -0.53%

Date: 17:00

FTSE 100 Quote

Price: 7,516.17 Chg: -10.80 Chg %: -0.14% Date: 16:59

(ShareCast News) - Asda is exploring a £4.4bn takeover of B&M, the fast-growing discount retailer run by billionaire brothers Simon and Bobby Arora. Britain's third-biggest supermarket chain is understood to be in the early stages of assessing a bid for B&M, which is chaired by the former Tesco boss Sir Terry Leahy. - The Sunday Times
Greece could be close to returning to sustainable economic growth at last after almost a decade of devastating recessions and crises, economists believe. The country's government is getting closer to restoring a degree of financial stability through the latest round of talks with the EU and the International Monetary Fund. - Sunday Telegraph

Customers have been turning their backs on local high streets to spend more cash at accessible out-of-town retail developments and on the internet. However, many towns are now poised to get an overdue new lease of life as councils work on ambitious plans to turnaround the fortunes of high streets by throwing the doors open to big money from the City. - Mail on Sunday

British drugs manufacturers may stockpile medicines in European warehouses as a precaution against a hard Brexit. Drugs made in the UK may have to be tested again once they leave British shores, should the government fail to strike a deal covering pharmaceutical testing. Such an impasse could delay the supply of British medications to countries in Europe. - The Sunday Times

War has broken out between two of Britain's largest green energy suppliers ahead of a boardroom showdown that could clear the way for one of the ­industry's biggest names to launch a controversial takeover of its rival. Aim-listed Good Energy will square up to Ecotricity later this week in a bid to crush its competitor's controversial plan to infiltrate the board months ­after taking a large stake in the company. - Sunday Telegraph

Boots has said it is "truly sorry" for the way it responded to a campaign calling for it to cut the price of emergency contraception and said it is looking for cheaper alternatives. The announcement, late on Friday night, came after news that the women's parliamentary Labour party (PLP) had written to the store's chief pharmacist to express "deep concern" about the company's refusal to reduce the price of emergency contraception, and as calls for a boycott continue to grow. - The Observer

Fund managers trying to woo younger investors are backing firms that do good in the world. Ethical funds are undergoing a major overhaul as asset managers try to work out what is important to the next generation of investors. - Mail on Sunday

Investors are considering cashing out of one of Britain's biggest water suppliers after the industry watchdog warned of a clampdown on profits. Shareholders that control more than half of Kelda, the parent company of Yorkshire Water, are toying with selling their stakes for what could be a total of £4bn. - The Sunday Times

Sky shareholders are in line for a £171m payout as the £11.7bn takeover of the pay-TV giant by 21st Century Fox is repeatedly delayed by stumbles over regulatory hurdles. Scrutiny of the deal is now expected to continue into next year and trigger a 10p per share special dividend. - Sunday Telegraph

A headlong rush into a "politically attractive" trade deal with the US risks exposing British companies to hostile takeovers and handing American firms the upper hand, one of Britain's leading business figures has warned. Adam Marshall, director general of the British Chambers of Commerce, said he was "distinctly uneasy" about the idea of a swift free-trade deal. - The Observer

Staff perks have risen above the £8bn mark for the first time this decade, according to accountancy group UHY Hacker Young. The value of taxable benefits employees received as part of their remuneration packages has increased by more than 5% to £8bn in 2015/16 from £7.6bn in the year earlier. - Mail on Sunday

The squeeze on household finances could push Britain into recession over the coming year, two leading forecasters have warned. A combination of inflation and stagnant wages will put the brakes on consumer spending - the mainstay of the economy since last year's EU referendum, according to Fathom Consulting. - The Sunday Times

Worldpay has warned British shareholders that it would be too expensive for the payments giant to have a dual listing in London and New York once it completes the £7.7bn tie-up it tentatively agreed with US rival Vantiv earlier this month. New York-listed Vantiv currently plans to delist Worldpay from the London market following its deal with the FTSE 100 company, despite presenting the transaction to investors as a merger. - Sunday Telegraph

A £14bn class-action lawsuit against MasterCard for allegedly overcharging more than 45m people in Britain over a 16-year period was blocked by a British court on Friday. The competition appeal tribunal (CAT), a newly empowered court that oversees Britain's fledgling class action regime, ruled that it would not grant the necessary collective proceedings order for the case to continue to trial. - The Observer

While most exporters are benefiting from sterling's slide, importers are suffering and 61% have raised prices - by an average of 9% in the past 12 months - new research has found. The study, conducted by East & Partners for American Express, found nine in ten small and medium-sized exporters were doing well from the pound's fall, increasing their profit margins by 16%. - Mail on Sunday