What the Sunday papers said
Monday 14 October 2013
The Independent on Sunday: Holiday money firm Travelex set for £1bn flotation
Travelex, the world’s largest foreign-exchange specialist, is eyeing a float that would see it valued at more than £1bn. The company, owned by private equity firm Apax, is looking to join a number of major names planning to float on the London Stock Exchange, such as Merlin, the owner of the London Eye. It comes a number of months after a potential buyer for Travelex, believed to be from Asia, approached Apax.
The Sunday Times: Canadians plot £8bn raid on RBS American retail business
Royal Bank of Scotland’s US retail banking arm could be the subject of a bid from TD Bank, one of Canada’s biggest lenders. RBS is currently planning to float Citizens – which has 1,400 branches and is worth in the region of £8bn – in 2015, but potential bidders think a sale could be brought forward. Other possible suitors for Citizens are believed to include American banks US Bancorp and PNC.
The Mail on Sunday: Watchdog Ofwat set to veto Thames Water price rise
Ofwat is this week set to block Thames Water’s bid to raise the bills of customers by 8 per cent. The company wants the water watchdog to give it the go-ahead for the move, citing the cost of land purchases for its new super-sewer project in London as one reason behind the request. However, Ofwat is expected to not let Thames Water increase prices by as much as the company wants.
The Sunday Telegraph: Cut European Union red tape, business leaders tell Cameron
A number of leading business figures will this week urge David Cameron to push through cuts or changes to 30 European Union regulations. The panel, which includes the Marks & Spencer chief executive, Marc Bolland, and the head of Kingfisher, Ian Cheshire, is due to say that the changes to the level of EU red tape facing businesses could save billions of pounds.
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