The Independent on Sunday: G4S advisers face axe after failed ISS deal
Security group G4S will replace its corporate advisers and brokers as punishment for the failure to buy Danish cleaner ISS. The £5.2bn deal would have made G4S the world's biggest cleaning and security group but it collapsed after failing to get shareholder support. Chairman Alf Duch-Pederson has already announced that he will quit in the wake of the deal.
The Sunday Times: Americans take Hoare Govett off RBS for a song
American investment bank Jefferies will this week buy Hoare Govett, the stockbroker put up for sale by Royal Bank of Scotland. The sale is part of the taxpayer-backed bank's attempt to slash debt and jettison underperforming businesses. Jefferies has agreed to take Hoare Govett over for a nominal sum, with RBS even set to provide money to cover salaries and redundancies. Less than half of the 125 staff at Hoare Govett will be retained.
The Mail on Sunday: Bank bonus boom as profits tumble
Britain's biggest banks will report a drop in revenues and underlying profits, fuelling public and political fury over maassive bonus payments. The overall London bank bonus pool is expected to to top £4.2bn, despite all the leading banks predicted to show a drop in revenues.
The Sunday Telegraph: Cambridge college invests in Tesco stores
The richest college at the University of Cambridge, Trinity, has invested in the UK's largest retailer by acquiring a 50 per cent stake in a portfolio of Tesco stores worth £440m. The college has a property portfolio worth more than £800m, although it is believed to be the first time it has invested in supermarkets. Trinity uses endowment funds to invest in property and provide extra income for education and research.Reuse content