Sunday Roundup: Yesterday's City pages

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Independent on Sunday

The Securities and Futures Authority has censured Lehman Brothers, one of the biggest US investment banks in London, over its transactions with some of the late Robert Maxwell's private companies.

A dispute has broken out between banks refinancing Eurotunnel over apparently favourable terms offered to Morgan Grenfell and SG Warburg, both advisers to the company.

A new row has broken out over supermarkets' 'copycat' own-label products. Unilever - maker of I Can't Believe It's Not Butter - is unhappy with the packaging of a vegetable oil spread - Unbelievable - launched by Tesco.

Aromascan, maker of electronic nose machines that measure and record smells, is to float on the stock market later this year.

Sunday Times

Stephen Dorrell, Financial Secretary to the Treasury, said City fears of changes to the tax treatment of dividends were misplaced.

The Bingo Association of Great Britain is lobbying for permission to launch a national Saturday night bingo game with a top prize of pounds 250,000, to compete with the National Lottery.

France's stock market watchdog is investigate claims that the Paris bourse was manipulated by British institutions to drive the Eurotunnel share price down ahead of its rights issue.

Sunday Telegraph

Stephen Dorrell has refused to rule out reducing pension fund tax relief on dividends.

Directors of blue chip companies - including Marks and Spencer, RTZ, Courtauld and Sun Alliance - have been buying their own shares as the stock market has fallen during the past fortnight.


The Co-Operative movement wants legislation to protect it from predatory takeovers if Lloyds Bank's bid for Cheltenham & Gloucester Building Society is allowed to go ahead.

BAA is to develop a pounds 20m theme park at Gatwick Airport. This week the airport operator is set to disclose its best-ever trading results.