Press Round-Up Short (Premium)
Sunday newspaper round-up: Ted Baker, Shanghai, Just Eat Takeaway
Ted Baker's suitor from the other side of the Pond could step away from its bid for the fashion group. Authentic Brands had been negotiating an acquisition for £1. 50 a share. Jut last week Ted Baker had said it was in talks with a 'preferred counter-party'. But now the US group is said to be studying deals elsewhere and the talks will in any case likely take several weeks. Other UK deals were a possibility although the US market remained its main focus. - Financial Mail on Sunday.
Sunday newspaper round-up: The Very Group, Marks&Spencer, Rolls Royce
The Barclay family has revived plans to list its e-commerce empire, The Very Group, during the middle of next year following a decision to postpone its plans in 2021 due to the worsening in market conditions. Very Group generated sales of £2. 3bn in 2021 for pre-tax profits of £81. 7m, making it one of the UK's largest retailers. The company had been on the auction block in 2017 but plans for a sale were jettisoned after potential private equity buyers balked at the £3bn price tag.
Monday newspaper round-up: BrightHouse, City regulations, National Grid
Administrators for the collapsed rent-to-own firm BrightHouse, which specialised in loans for big-ticket items such as fridges and sofas, have warned they will not have enough money to compensate thousands of customers who were left with unaffordable debts. The latest report from the accountants Grant Thornton, which is managing the administration, shows a plan to set aside £600,000 for payouts to customers who may have been mis-sold expensive loans by BrightHouse has been scrapped.
Sunday newspaper round-up: Vodafone, Bank of England, Ukrainian grain
State-controlled Emirates Telecommunications Group has amassed a 9. 8% stake in Vodafone. However, Etisalat, as the Abu Dhabi telecoms operator is know, has said it has no intention of making a takeover bid nor is it "seeking to exert control or influence". That statement in effect bars it from being able table a bid for six months. Be that as it may, Enders analyst. , Karen Egan, believes that the move adds to the pressure on Vodafone boss, Nick Read, to accelerate his restructuring plans.
Sunday newspaper round-up: 'Right to buy', HSBC, IAG
The Prime Minister is planning to give approximately 2. 5 million Britons the right to buy the homes that they currently rent from housing associations. Boris Johnson ordered that planning start during the past fortnight, convinced that it would help "generation rent". Connected to the above, officials are also pursuing an idea by which tens of billions of pounds used by government to finance housing benefits would be funneled into helping recipients get mortgages.