The Independent on Sunday: HSBC job cuts as restructuring goes ahead
HSBC could announce further job cuts on Wednesday as chief executive Stuart Gulliver presses ahead with his planned restructure. Mr Gulliver has already reduced the workforce from 300,000 to 254,000 and is due to give investors an update on the three-year plan he presented in May 2011. It is expected he will raise his cost-cutting target, which is already running at $4bn a year more than his original aim of $3.5bn.
The Sunday Time: Bail-out for coal industry to be paid for by taxpayers
Taxpayers may have to bail out what is left of the British coal industry with UK Coal still decimated by the fire that closed its Daw Mill deep mine in May, put 600 people out of work and raised questions over pensions of some 10,000 former staff. Ministers are trying to convince the Coal Authority, a taxpayer funded body, to help rescue the healthy parts of the business by taking some of the Daw Mill liabilities.
The Mail on Sunday: High street move looks likely for outgoing Swann
Kate Swann, chief executive of WH Smith, has met former Marks & Spencer boss Roger Holmes, fuelling speculation that she is considering a move to the under-pressure retailer. Swann steps down from WH Smith at the end of June and M&S chief executive Marc Bolland is under pressure to revive the chain's flagging clothes sales. He will launch a new range from style director Belinda Earl this week.
The Sunday Telegraph: Bid for Betfair may not be enough, say analysts
Private equity group CVC is set to return with an increased takeover bid for the betting exchange Betfair but at slightly less than the £10 a share which several analysts have said is the minimum take-out price. CVC, which also owns Formula 1, first offered 880p a share. That was roundly rejected by the Betfair board. Any bid may depend on CVC being given full access to Betfair's books.Reuse content