Independent on Sunday: Government ‘lets City off hook’ on Royal Mail deal
The Government has made no attempt to contact the handful of big City investors given preferential treatment in the Royal Mail flotation fiasco. Some broke an apparent gentleman’s agreement to go on and sell millions of pounds worth of shares, even after the process was criticised this month in a National Audit Office report.
Sunday Times: Premier Oil rejects £3bn merger offer from Ophir
Ophir Energy has made two secret takeover approaches to rival Premier Oil in a bid to create a £3bn explorer with operations from east Africa to the Falklands. An all-share merger proposal was rejected by Premier’s board a fortnight ago. A tie-up would create the fifth-largest oil explorer listed in London after BP, Shell, BG and Tullow Oil.
Mail on Sunday: Bailed-out RBS snubs Osborne’s bonus ban
Taxpayer-owned Royal Bank of Scotland will sidestep a cap on bonuses imposed by George Osborne by handing top bankers free shares worth millions. The giveaway, designed to supplement basic salaries by up to 200 per cent, will massively embarrass the Chancellor. RBS is planning to almost treble the number of bankers awarded shares.
Sunday Telegraph: Bookmakers up in arms at councils’ local veto
The Government is to hand local councils the power to veto the opening of new betting shops in their towns in response to concerns about the effects of electronic gaming machines. David Cameron is this week set to announce a new planning class to make openings by chains such as Ladbrokes and William Hill harder.