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Santander planning cull of senior staff in Britain, report says
Britain's fifth largest lender is planning to cut the number of senior staff in a bid to cut costs and bolster profit margins, according to UK newspaper reports.
Sunday newspaper round-up: Interest rates, Tata, Premier Foods, G4S, Centrica
The Bank of England will hold interest rates at their current historic low for three more years, according to the market's current predictions. Judging by the overnight deposit rates that banks are charged to hold their cash at the central bank, which indicates market predictions on borrowing costs, the Sunday Times reported, there is a small chance of a rate cut during the next couple of years and that there will not be a rise until the middle of 2019.
Mid-East shares move lower, Russian oil output holds near record levels
Stocks across the Middle East traded lower on Sunday, following remarks from Saudi Arabia´s deputy crown prince that appeared to cast doubt on the likelihood that the world´s major oil producers would agree to freeze output when they met in Doha.
Sunday share tips: Card Factory, Direct Line, Epwin Group
Shares in Card Factory are worth buying, said the Sunday Times' Inside the City column. Although its longstanding boss is about to retire and be replaced by discounter B&M's Karen Hubbard, she joins a company whose business model generates fistfuls of cash from an amazingly cheap offering. As Card Factory, unlike its rivals, makes almost all its own cards even the ones it sells for under 50p make a profit.