Concerns are mounting over the commercial strength of what will be Europe’s biggest logistics park, a major selling point of the £1.5bn London Gateway superport being built 25 miles from the capital.
The park has yet to secure anchor tenants even though the port will open at the end of 2013. Marks & Spencer and freight group Uniserve have been negotiating for warehouses but have not signed contracts.
The Sunday Times: More than 20 Lloyds bankers
Taxpayer-backed Lloyds this week risks stoking the row over bankers’ pay when more than 20 of its staff will be confirmed as having received £1m or more in 2012. This will bring the number of bankers paid seven figures by the big five high street lenders last year to almost 770. Lloyds is also expected to reveal details of a new long-term bonus scheme for its chief executive, Antonio Horta-Osorio.
The Mail on Sunday: EDF on the brink of clinching £14bn new nuclear deal
French energy giant EDF will this week seal a deal to build and operate the first new civil nuclear power station to be built in Britain for nearly 20 years. EDF had set a deadline of the end of this month to agree the terms of constructing the £14bn power station at Hinkley Point in Somerset. As first revealed in The Independent on Sunday, EDF will be handed what critics claim is a subsidy for 35 years.
The Sunday Telegraph: Madame Tussauds owner back for London listing
Merlin Entertainments, the private equity-backed owner of the London Eye and Madame Tussauds, is expected to announce a record profit of £350m this week. This could lead to a £3.5bn flotation in New York or London. Merlin is the world’s second-biggest theme park operator with nearly 50 million visitors a year at almost 100 attractions.