The Independent on Sunday: Anger over SSE profits after price hikes
The Big Six energy producer SSE is braced for accusations of profiteering when it unveils its annual results this week. The energy giant, formerly known as Scottish & Southern Energy, is expected to unveil a 30 per cent jump in profits at its retail division, where it put up oil and gas tariffs by 9 per cent last October. It was also fined £10.5m for mis-selling by Ofgem last month.
The Mail on Sunday: Canadians prepare new bid for water firm
A group of investors led by a Canadian pension fund is preparing to raise its offer for the water group Severn Trent. The consortium, which includes the UK's Universities Superannuation Scheme as well as Kuwait's Investment Office and Canada's Borealis Infrastructure, has until 11 June – after Severn Trent's annual results are due – to table a new offer. Its initial £5bn offer was rebuffed last week.
The Sunday Times: Royal Mail prepares for privatisation
The Royal Mail is expected to unveil underlying profits between £300m and £400m this week, paving the way for its £3bn privatisation later this year. The operating profits, boosted by deliveries of online shopping, could be double last year's £211m. The Government is hoping to list the Royal Mail on the London Stock Exchange.
The Sunday Telegraph: Sir Roger Carr lined up as BAE chairman
The outgoing president of the CBI business lobby group is the frontrunner to replace Sir Dick Olver as chairman of BAE Systems. Sir Roger Carr, who has also chaired the British Gas energy giant Centrica and the chocolate group Cadbury's while it was being taken over by Kraft Foods, is expected to be formally appointed within weeks.
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