Sunday Round-Up: The main stories from yesterdays City pages

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The Independent Online
Sunday Express

Leslie Hill, chairman of Central Television, is furious at suggestions that he is being investigated for alleged 'improper conduct' over share options granted to him and five other directors just before Carlton Communications announced its pounds 750m bid. In fact, says Dominic Prince, City Editor, the options were granted in March and ratified at Central's annual meeting in May.

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The Mail on Sunday

Cedric Scroggs, dismissed last week as chief executive of the pharmaceuticals group Fisons, is to be paid pounds 400,000 compensation.

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The Sunday Telegraph

The Vestey group has brought in S G Warburg and the accountancy group Peat Marwick to advise on a huge debt restructuring. The aim is to secure an early release from the expensive standstill agreement granted by banks to the company's flagship business Union International.

City experts are calling for tougher licensing of pension salesmen and advisers. They say that most abuses would stop if pension advisers charged fees rather than taking commissions from insurers.

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The Sunday Times

Executives at the drugs company Fisons made profits of pounds 5.3m on share options while the group's accounts were being legally manipulated to add millions to its stated sales and profits.

Crockford's, the quoted Mayfair casino, is set to bid for one of its main rivals, the Clermont Club, owned by Rank Organisation.

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The Observer

LWT is playing down its merger talks with Yorkshire- Tyne Tees Television as it prepares to release its defence document against Granada's hostile pounds 630m takeover bid.

The BBC is considering selling off its masts and transmission sites. The sale could raise between pounds 70m and pounds 100m.

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Independent on Sunday

Tiphook, the troubled container leasing group, is to meet disgruntled bank lenders in the next week in an attempt to head off a dispute that could force the company into receivership. Hypo Bank of Germany has been persuaded to withdraw an ultimatum demanding that its loan be repaid, but banking sources say the situation remains 'extremely delicate'.

Sir John Collins, new chief executive of the privately owned Vestey group, owner of the Dewhurst butchers chain, is reviewing possibilities for refinancing the group, including a flotation.

At least 10 private property companies with market values up to pounds 500m are preparing market flotations next year.

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