Date: Sunday 27 Jun 2010
George Osborne is to push for a delay in global banking reform to get a deal on levels of liquidity and capital needed by banks so that multi-billion taxpayer funded bail-outs are not needed again, says the Sunday Telegraph.The Group of Eight rich nations backed countries in their drive to strike regional and bilateral trade deals on Saturday, abandoning a pledge to conclude the Doha global trade negotiations this year, writes the FT.
Shareholders in Prudential, the embattled insurer, are expected to convene this week to assess sentiment toward the group's senior management after meetings with the company's chairman, Harvey McGrath, and senior independent director, James Ross, last week, reports the Independent on Sunday.
The Unite trade union is to postpone a strike ballot of British Airways cabin crew after receiving a peace offer from the airline, it was revealed today, according to the Observer.
BAE Systems, Britain's biggest defence company, is set to cut hundreds of jobs in its UK vehicles business in the coming weeks, says the Sunday Telegraph.
The prime central London property market has shown a dramatic slowdown during the past three months, sparking fears it could be heading for a summer slump, says a study. The closely-watched quarterly central London survey from Savills, the upmarket property agent, shows prices are set to grow by just 0.6pc between April and June, compared with 3pc in the first quarter of the year and 4.3pc in the final quarter of 2009, writes the Sunday Telegraph.
PricewaterhouseCoopers (PwC) has been called in by the Afghanistan government to develop its $3trn mining and minerals industry, reports the Independent on Sunday.
Gordon Brown's Treasury was this weekend accused of dramatically understating the cost of paying public sector pensions. The official bill to taxpayers for future retirement payments is put at £15bn a year, but the actual cost is £30bn, according to John Ralfe, one of the UK's leading pension experts, says the Observer.
Gold bug Ross Norman has bought the 200-year-old Sharps Pixley gold-dealer to sell ingots and coins to retail investors, according to the Independent on Sunday.
Joseph Cassano, who as head of the AIG's Financial Products division was responsible for overseeing the insurer's activity in subprime mortgage derivatives, is set to be grilled by the Financial Crisis Inquiry Commission on Wednesday, says the Sunday Telegraph.
Investors have balked at the likely list price of Ocado, which is looking to raise £400m in a stock market flotation, writes the Independent on Sunday.
The Hut Group, the fast-growing firm behind controversial VAT-free CD and DVD internet sales for Asda, WHSmith, Dixons, Argos and Woolworths, has begun rapidly expanding into other product areas – including cheap handbags, jewellery, novelty gifts, sun cream and underwear – as it builds towards a stock market flotation early next year, according to the Observer.
Network Rail directors Robin Gisby and Simon Kirby have emerged as the leading internal candidates to replace its chief executive, Iain Coucher, who resigned earlier this month, says the Independent on Sunday.Corus chief executive Kirby Adams will stand down from his role at the steel producer in October, after guiding the company through the tail-end of the financial crisis, reports the Sunday Telegraph.
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