The Times
Radley poised to fall within Dutch family’s clutches: A company backed by the billionaire Dutch family behind C&A has taken over Radley and secured Don McCarthy, a veteran retailer, as Chairman of the fashion brand.
Sorrell faces revolt against his pay package of £70 million: Sir Martin Sorrell is facing a shareholder rebellion over his £70 million pay package as Chief Executive of WPP, with a significant minority of investors expected to vote against the advertising group’s remuneration report on Wednesday.
Abolish tax havens, say finance Chiefs: A concerted global attack should be waged on tax havens, according to a poll of senior Executives. Most finance Directors believe governments and international agencies should work together to abolish offshore havens, according to an exclusive poll.
Deeper cuts may affect retiring steelworkers: Hundreds of members of the Tata pension scheme could end up worse off than expected under the government’s proposed changes to cut its cost in the hope of saving the steel business.
Parkdean Resorts edges closer to £1 billion-plus float: Britain’s biggest holiday park operator is edging closer to a £1 billion-plus flotation after reporting a strong increase in bookings this year.
‘John Lewis economy’ hit as support is withdrawn: Plans for a “John Lewis economy” that would inspire companies to share Ownership with their staff have been undermined by the removal of official support services, MPs and industry experts have warned.
Cash-only shops ‘face loss of business’: Carrying cash is regarded as so old-fashioned that a quarter of shoppers in the U.K. say they actively avoid shops that do not take cards, according to a survey.
Raising the roof at Wimbledon with £25 million sale: The All England Club will announce that it has raised £25 million from the sale of Wimbledon debentures to fund the construction of a retractable roof on No 1 Court.
The Independent
Switzerland rejects proposals for unconditional basic income by overwhelming majority: Switzerland has voted by an overwhelming majority to reject proposals for a universal basic income.
Virgin Trains to launch entertainment app for passengers: Virgin Trains has launched a Netflix-style entertainment system allowing passengers to watch films and TV programmes on demand using their own devices.
Financial Times
AnaCap raises €595 million to buy European banks’ credit assets: Private equity firm AnaCap Financial Partners has raised €595 million for a fund that will buy credit assets from European banks, illustrating the opportunity for shadow banks as traditional lenders retreat.
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Countrywide launches online sales as digital shake-up hits home: The U.K.’s largest residential estate agency, Countrywide, is to launch an online service in the clearest sign yet that digital disruption has arrived in the home sales market.
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Man Group promotes CFO Sorell to co-President: Man Group has promoted Chief financial officer Jonathan Sorrell to co-President of the listed hedge fund after he led its efforts to diversify its core quant and stockpicking strategies and lessen its reliance on single funds.
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Three calls on Ofcom for protection from BT in spectrum auction: Telecoms operator Three has demanded protection from Ofcom in a forthcoming auction of the airwaves used to deliver mobile services, after Brussels blocked its proposed £10.5 billion merger with rival O2 last month.
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Guy Hands reopens battle with Citi over disaster EMI deal: On Tuesday, Guy Hands will resume his long-running legal battle against Citigroup over the U.S. bank’s role in the British private equity veteran’s disastrous buyout of the failing music group EMI as credit markets faltered in 2007.
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Qatar pays BlackRock $2.5 billion for Singaporean tower: Qatar’s sovereign wealth fund is buying Singapore’s Asia Square Tower One for a record $2.45 billion from BlackRock, which hopes the rare deal may mark a turning point for the city’s weakening property market.
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ArcelorMittal to launch new high strength steel: ArcelorMittal will launch a new high-strength automotive steel later this year, throwing down the gauntlet to its rivals in the race to make cars lighter.
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Lex:
Green bonds: where there’s muck: There is money in filth. There will be more of it in China. The country’s air pollution problem is well-known and the state of its soil, while less visible, is equally dire.
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The Daily Telegraph
Sir Philip Green is yet to make BHS pensions offer: Sir Philip Green has made no new approach to pensions authorities about restructuring the BHS pension scheme, it has emerged, despite claims he was trying to broker a last-minute deal.
Deliveroo revenue to hit £130 million this year: Deliveroo, the London-based food delivery network, is due to hit revenues of £130 million this year, solidifying its position as one of the U.K.’s most-promising technology companies.
Goals Soccer Centre to unveil £8 million rebrand within months: Goals Soccer Centre will kick off a £7.9 million branding overhaul later this year with plans to unveil two redesigned pilot clubhouses which will pave the way for a full revamp of its football centre estate.
America’s fastest-growing pizza brand, MOD, arrives in the U.K.: America’s fastest-growing restaurant chain, MOD Pizza, has arrived in the U.K., opening its first outlet in Leeds after securing backing from Carphone Warehouse Founder and TalkTalk Chairman Sir Charles Dunstone and his business partner Roger Taylor.
John Kingman in line for L&G chair: Former Treasury mandarin John Kingman is in pole position to become the next Chairman of insurer Legal & General. Mr Kingman quit the Treasury in April after missing out on the top job to Tom Scholar, David Cameron’s most senior adviser on the EU.
Farmers lead backlash against green energy subsidy cut: Farmers are leading a backlash against the Government’s latest cut to green energy subsidies, warning it will deprive the struggling agricultural sector of a valuable source of income.
The Guardian
Bank of England in preparations for potential Brexit: The Bank of England will draw on lessons learned from the Scottish referendum and the global financial crisis as it steps up its preparations for a possible decision by Britain to leave the EU on 23 June.
Yorkshire and the Humber sees biggest growth in high-skilled jobs: A big pick-up in high skilled jobs helped Yorkshire and the Humber record the fastest employment growth in the U.K. last year, according to a report that will be a welcome boost to George Osborne’s “northern powerhouse” agenda.
EU referendum fears weighing on company orders and investment: Orders among U.K. firms have fallen to their lowest level for almost three years as growing worries over this month’s EU referendum hit the British economy.
Daily Mail
Goldman Sachs exposed by leaked BHS email congratulating bankrupt Dominic Chappell over the purchase of retailer: Goldman Sachs has been left red faced over a gushing email congratulating three times bankrupt Dominic Chappell over the purchase of BHS.
Tata to reveal shortlist of bidders for its U.K. plants as Indian Owner works on restructuring plan: Tata is set to reveal a shortlist of bidders for its U.K. plants in an announcement that could come as early as.
U.K. Chief of world’s biggest travel group TUI tells why we should vote stay after weighing up Brexit risks: Nick Longman, U.K. Boss of the world’s biggest travel group TUI, has two wishes this weekend and they are both potentially controversial – that Britain stays in the EU and that we get more rain.
Daily Express
GiveMeSport website intends to go further afield: British publisher GiveMeSport, which operates the U.K.’s most popular sports website, is looking at raising new funds to finance its growth plans.
U.K. industry edging back to growth despite uncertain conditions: Manufacturers in Britain are continuing their slow crawl back to growth, despite facing uncertain conditions, according to a survey.
The Scottish Herald
Scottish business angels to share secrets of success with European investors: Investors from across Europe will visit Scotland this week to learn about the business angel model for backing firms with high growth potential which was pioneered in the country.
Mobile technology entrepreneur returns to his roots: Mobile phone location technology entrepreneur Gordon Povey is returning to his roots with a service that will help people create a diary and life management tool from the masses of information held online about them.
Property investors eye Scotland: Property investors are unlikely to be deterred from putting money into Scotland by the prospect of constitutional upheaval, a survey has found.
Investment management firms told: Products must show they earn their fees: Investment firms need to ensure their products deliver value for money and are transparent amid the regulatory and technological developments affecting the market, KPMG has said.
The Scotsman
Oil firms planning further cost cuts as low crude price continues: Almost half of Britain’s oil and gas businesses are planning further cost cutting as they struggle to adapt to the lower oil price environment, a study predicts.
Queensferry Crossing project ‘months behind schedule’: The £1.4 billion Queensferry Crossing construction project is running months behind schedule, it has emerged.
Six make top grade with Johnston Carmichael: Accountancy and business advisory firm Johnston Carmichael has beefed up its leadership team as part of a Scotland-wide growth strategy.
City A.M.
Asahi could be about to snap up more of SABMiller’s beers ahead of AB InBev sale: The Japanese brewing giant is weighing a £5 billion bid for some of SABMiller’s eastern European beer brands, including Pilsner Urquell.
Rolls-Royce shortlisted to build fleet of baby nuclear reactors: FTSE 100-listed engineering company Rolls-Royce has been shortlisted to build a fleet of mini nuclear reactors, City A.M. understands.
Shell’s balance sheet, renewables strategy to be drawn into focus on Tuesday: Royal Dutch Shell’s balance sheet and renewables policy could be drawn into focus when the oil major holds an investment day on Tuesday.
Mike Ashley has finally agreed to appear in front of MPs to answer questions about Sports Direct: The Boss of Sports Direct, Mike Ashley, said he will now appear in front of MPs on the business, innovation and skills (BIS) select committee to defend his company.
M&S set to reveal former Chief Executive Marc Bolland earned over £15 million: Marks & Spencer are set to unveil this week that the retail store’s former Chief Executive Marc Bolland received over £15 million during his years at the company.
The impact of philanthropic donations by high net worth individuals is often not assessed: High net worth individuals are risking the effectiveness of their philanthropy by not measuring the impact of their donations, says Moore Stephens, the accountancy and consultancy firm.
Entrepreneurs signal the economy is looking up despite warnings over the impact of Brexit: Economic confidence among entrepreneurs has taken a big step forward over the last year. The number of business Owners who feel confident about the direction of the global economy climbed by 18 percentage points to 69% over the last 12 months according to a survey from accountancy giant EY.
