Sunday Round-Up: The main stories from yesterday's City pages

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The Independent Online
The Mail on Sunday

Honda, the Japanese car maker, is pressing Rover to pay an extra pounds 60m a year for parts following the British car company's sale to BMW, the German manufacturer.

Airtours, the tour operator, has obtained a court order freezing loan notes paid to the owners of Aspro Travel, a company it acquired last year. Airtours alleges it paid pounds 10m too much for Aspro as a result of alleged fraudulent misrepresentation by George, Christopher and Dimitrios Asprou, three brothers who owned the business.

The Observer

Ladbroke, the leisure group, will this week announce a sharp decline in profits and the first dividend cut in its history.

Building Societies have been warned to be more cautious about the risks of fixed-rate mortgage lending by the Building Societies Commission.

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The Sunday Telegraph

BMW, the German car manufacturer, is paying pounds 271m less than the pounds 800m headline price for its purchase of Rover from British Aerospace. BAe's circular to shareholders seeking approval for the deal disclosed that the British car maker is to be sold with net cash of pounds 271m on its balance sheet. The documents show that BAe's net proceeds from the sale will be pounds 439m.

Bill Muirhead, chairman of Saatchi & Saatchi's London advertising agency, is to move to New York to head the group's troubled US operations.

Cazenove, the blue-blooded stockbroker, has been replaced as lead broker to 3i, the venture capital group that is floating on the stock market this summer with a price tag of about pounds 1.6bn. BZW, whose parent company Barclays owns 18 per cent of 3i, takes over.

Granada Television is considering moving Coronation Street, its flagship programme, to Sunday nights in attempt to boost advertising revenues after the sucessful bid for London Weekend Television.

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The Sunday Times

Carlton Communications and SelecTV are furious with MAI, their partner in Meridian Television, over Lord Hollick's plans for the integration of Anglia Television, following its takeover by MAI. They claim he plans to reap all the benefits of linking Meridian with Anglia, by keeping the latter as a subsidiary of MAI.

London Wall Holdings, the Lloyd's insurance group with a pounds 310m underwriting capacity, has called in receivers and is negotiating to sell operating subsidiaries.

Scottish Power is to buy 50 superstores from Clydesdale, the electrical retailer that went bust last month.

Independent on Sunday

The world's central bankers plan to tighten controls over currency hedge funds of the type used by market speculators such as George Soros. They will discuss the issue at a meeting in Basle in a fortnight, amid fears that speculation is destabilising capital markets and the banking system.

Bondholders in Euro Disney, the debt-laden amusement park near Paris, are threatening to sue SG Warburg Securities for hundreds of millions of dollars for a mistake in the English language translation of the bond prospectus. The issue may destabilise the financial restructuring being hammered out between Walt Disney of the US and the bank lenders to the loss-making project.

Alan Sugar, chairman of Tottenham Hotspur and of Amstrad, ignored legal advice that he might have a duty to pursue a claim against two former directors of the the football club responsible for making 'illegal' payments to Spurs players.

Stuart Lipton, chairman of Stanhope Properties, may challenge in the courts British Land's purchase last week of a 30 per cent stake in Stanhope. Mr Lipton claims that he had first refusal on the stake under a contract with its original owner, Paul Reichmann.

British oil exploration companies are considering exceptional write- offs running into hundreds of millions of pounds against their 1993 results because of the fall in the price of crude oil.

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