Sunday Round-Up: The main stories from yesterday's City pages
Monday 09 May 1994
Tim Melville-Ross, the new Institute of Directors chief, will lead a campaign against the Cadbury report's rules on corporate governance which many directors say is costing business millions of pounds to implement. The campaign could prompt more companies to challenge the code of best practice.
The Government is braced for a political storm over a report on competition in the domestic gas market which could lead to higher gas bills for millions of households.
Mail on Sunday
Cable and Wireless, parent of Mercury Communications, is to cut 200 key jobs at its headquarters in what could be the first step in a break-up and flotation of Mercury's constituent parts on the stock market.
Grand Metropolitan and Courage have postponed plans to float 2,000 pubs owned by their Inntrepreneur Estates joint venture.
The International Petroleum Exchange, the oil futures market, is investigating whether people connected with one of its leading firms have been cheating clients.
The end of the five-year fixed-rate mortgage is at hand after many lenders withdrew deals and others raised rates for new business.
Prospective bidders for British Coal are set to clash with the Government over who should be responsible for potential liabilities resulting from pollution, industrial diseases and future redundancies.
Swiss Bank Corporation and Jardine Underwriting are establishing one of the largest Lloyd's investment vehicles. The new concern will have a capacity of pounds 270m and Swiss Bank is seeking more corporate capital to back the pounds 10.9bn London insurance market.
The pharmaceuticals giant Glaxo is talking to McKesson, the US drugs wholesaler, about the possibility of taking a big stake or buying it for around dollars 4bn.
Michael Heseltine is planning a partial privatisation of the Post Office which values it at more than pounds 2bn. The counters division, which runs 19,000 sub-post offices, would remain publicly owned.
Abu Dhabi has handed Swaleh Naqvi, a key figure in the Bank of Credit and Commerce International scandal, over to the FBI.
The boom in cross-Channel shopping for drink and tobacco could knock as much as 2 per cent off the retail price index if the Chancellor bows to mounting pressure to lower duties to French levels.
Northern Rock is planning to leave the endowment mortgage market after concern from consumer groups that thousands of policies may not repay loans.
- 1 'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
- 2 Number of global billionaires has doubled since the financial crisis
- 3 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 4 Of course, teenage girls need role models – but not like beauty vlogger Zoella
- 5 North Korean officials 'publicly executed for watching South Korean soap operas'
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Number of global billionaires has doubled since the financial crisis
Elizabeth Norment dead: House of Cards actress honoured by Kevin Spacey after she dies aged 61
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
Nigel Farage and Frankie Boyle clash over Andrew Lawrence's 'Mock the Week' criticism
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