Sunday Round-Up: The main stories fron yesterdsay's City pages

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The Independent Online
The Mail on Sunday

The National Audit Office has concluded that the Inland Revenue makes far too many mistakes at the expense of the taxpayer.

Share tips: Glaxo.

Sunday Express

The chief executive of Ladbroke, John Jackson, has won friends in the City - and may return the leisure company to the casino business.

Share tips: Glaxo, GRE, St Modwen Properties.

The Sunday Times

Michael Heseltine is battling the European Commission over its objections to his plans to raise the ceiling on foreign shareholdings in British Aerospace from 29.5 per cent to 49.5 per cent.

Ladbroke is planning to return to the casino industry 15 years after its four London clubs were closed down by magistrates.

Share tips: Fisons, Micro Focus, Standard Chartered, Avesco.

The Observer

Ladbroke is considering a return to the casino business.

The number of bidders for the National Lottery has been whittled down to four.

Customs is trying to stop gas and electricity companies from helping their customers to avoid the April increase in VAT.

ITV plans an alliance to make some programmes with cable companies.

Share tips: Grand Met, Henly's, Capita.

The Sunday Telegraph

Debt-laden WPP, the advertising group, is to float its market research interests for pounds 200m- pounds 270m, according to Wall Street sources.

Sir James McKinnon, former head of Ofgas, is to be chairman of Traficmaster, which is floating later this month.

Britain's exports to the European Union are poised to be overtaken by those to the rest of the world by the middle of this year.

Land Securities will restart office development in the City and West End.

Speculation is rife that Richard Branson has approached Cathay Pacific to take a stake in Virgin Atlantic or enter joint ventures.

Share tips: Bluebird Toys, Guinness, Thorntons, Industrial Control Services.

Independent on Sunday

Documents related to the financial empire of George Soros, the speculator who made dollars 1bn helping to force sterling out of the ERM, reveal for the first time the extent to which his personal interests are mixed up with those of outside investors. Mr Soros is also encountering difficulties from the size of the funds he manages and has reduced the size of Quantum, his flagship, by almost a quarter.

The Federal Reserve is set to push US interest rates higher - markets could plunge into a new tailspin.

The Government's ability to keep public spending under control could be threatened by high social security payments and a rebound in contributions to the European Union.

Speculators have made profits of up to pounds 10,000 each in an abuse of the gas release scheme.

Greg Dyke, boss of London Weekend, has attacked Carol Galley, joint deputy chairman of Mercury Asset Management, which in effect handed control of LWT to Granada last month.

Share tips: Rexmore, Abacus, Hillsdown Holdings, Pelican, TI.

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