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Business Analysis & Features

What the Sunday Papers Said


The Independent on Sunday: Absence of UK division’s boss adds to woes at Serco

The head of the Serco division that is responsible for UK Government contracts is currently absent from work, adding to the group’s leadership crisis. On Friday, group chief executive Chris Hyman shocked the market as he announced his resignation. UK and Europe chief Jeremy Stafford has also not been working since the start of the month and there is no indication of when he will be back.

The Sunday Times: Revenue chief to be slammed over Google’s tax avoidance

Britain’s top tax inspector will come under fire from MPs this week for allowing Google and other multinationals to use “immoral” tax-avoidance ploys. Jim Harra, director-general of business tax at HM Revenue and Customs, is one of three officials who will be grilled by the Commons Public Accounts Committee. They are expected to be accused of allowing foreign companies to ride roughshod over the tax code.

The Mail on Sunday: South African billionaire  puts BHS on shopping list

The Bhs department store chain, owned by Sir Philip Green, has been sized up as a potential takeover target by South African billionaire Christo Wiese. The chain is one of several retailers on a list of possible British acquisitions being considered by Mr Wiese, who has a personal fortune of £2.2bn. He has formed an alliance with former Asda chief Andy Bond to look for opportunities.

The Sunday Telegraph: RBS set to climb into black under new chief executive

Royal Bank of Scotland is set to report third-quarter profits of more than £400m, reversing a loss last year of £1.2bn. The taxpayer-backed lender’s return to profit will be the first set of results overseen by new chief executive, Ross  McEwan, although the figures are likely to be overshadowed by continued speculation about a break-up. RBS will report its results on Friday.