What The Papers Said: A round-up of Sunday business stories

n Up to 5,000 jobs in the UK components sector could be lost as BMW transfers 10-15 per cent of its buying overseas, a leading supplier of parts to Rover, Delphi Automotive Systems, estimates. BMW and the Government are reported to be close to agreeing a package to rescue Rover's Longbridge plant.

n Property developer Regalian is on a short list of two to redevelop the Chelsea Barracks, home of the Coldstream Guards. The Ministry of Defence will have to find an alternative home for the Guards and is considering buying the Battersea Power Station site.

n The Chancellor, Gordon Brown, is lining up allies in Europe to continue opposing plans for a eurobond tax, following last week's vote in the European Parliament in favour of a withholding tax.

n A series of measures to help small businesses is set to be a key element in this year's Budget, including ways to cut their tax. The Chancellor is looking at either making enhanced first-year capital allowances for investment in plant and equipment permanent or cutting their 20 per cent tax rate.

n Shares in BAe are likely to rise today following the news that Greece is committed to buying up to 80 Eurofighter Typhoon aircraft, worth pounds 2.8bn.

n The Freemans catalogue business is forcing suppliers to increase the discounts they offer it from 8 per cent to up to 10.5 per cent, less than a month after its parent group Sears was taken over by Philip Green.

n BP Amoco is set to cull more high-level jobs as the newly merged oil giant aims for a 40 per cent reduction in its corporate staff.

n It will take two and a half to three years for high street banks and shops to introduce euro notes and coins if the UK decides to join the single currency, according to a report by the Treasury due out this month.

n Businesses in the UK pay higher taxes, when measured as a proportion of national income, than any other top industrial country, according to an unpublished study by the Organisation for Economic Co-operation and Development.

n The Government received offers from trade buyers for Railtrack at the time of its privatisation which could have raised pounds 1bn more than the 1996 flotation netted. Nomura, Morgan Stanley and Babcock & Brown were all possible buyers.

n National Power, the UK generator, is thinking about demerging its international business in order to boost its share price, after its plans to unlock shareholder value through a merger with the electricity and water group United Utilities fell through.

n Harvey Nichols, the upmarket retailer, is set to open a new store in Manchester's Arndale Centre.

n LineOne, the Internet service provider, is to cut 46 of its 110 staff, as it battles against the success of Dixon's Freeserve service.

n Two Vaux breweries, in Sunderland and Sheffield, are facing closure even if the planned management buyout, led by the chairman's brother Frank Nicholson, goes ahead.

n RJB Mining is considering buying mines overseas in order to reduce its dependency on the declining British coal industry.

n Whitbread is thinking about launching a pounds 1.2bn bid for its smaller rival Greenalls, which would strengthen its position as a leading pubs and hotels group. Such a move could prompt Scottish & Newcastle to mount a counterbid.

n National Power is planning to demerge its international arm, and could unveil a stock market float or partial sale of the business in 2000.

n Mobile phone group Orange has linked up with Fujitsu of Japan and Cisco and Ascend in the US to trial technology for the next generation of mobile phones. The companies will also launch a pilot scheme in Bath and Bristol.

n Diversified building materials group Polypipe is in talks with Avonside, the building services and distribution group, that could lead to bid valuing Avonside at pounds 20m.

n Chelsea Building Society has rejected a pounds 400m takeover approach from a consortium headed by the former Chancellor, Lord Lawson of Blaby.

n A report due out from the rail regulator next month will criticise Railtrack for failing to invest in modernisation and lacking targets for its investment programme. The Deputy Prime Minister John Prescott could force the track operator to cut the access fees it charges train companies.

n Users of Dixons' free Internet service Freeserve will soon be able to pick up emails over the phone. The phone calls will be at a premium rate and Dixons could collect up to 9p a minute.

n Sfx Entertainment, a US-based promoter whose clients include the basketball player Michael Jordan and the pop star Billy Joel, may make a counter offer for Wembley. Enic, the sports investment group founded by Joe Lewis, has already made an informal pounds 228m cash and shares bid, but Sfx is expected to table an all cash offer.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Operations Manager

£30000 - £38000 per annum: Recruitment Genius: They are a financial services c...

Guru Careers: Stockbroker

£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...

Recruitment Genius: Financial Adviser

£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...

SThree: Graduate Recruitment Resourcer

£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...

Day In a Page

Robert Fisk in Abu Dhabi: The acceptable face of the Emirates

The acceptable face of the Emirates

Has Abu Dhabi found a way to blend petrodollars with principles, asks Robert Fisk
Nepal earthquake: One man's desperate escape from Everest base camp after the disaster

Escape from Everest base camp

Nick Talbot was sitting in his tent when the tsunami of snow and rock hit. He was lucky to live, unlike his climbing partner just feet away...
Adopting high fibre diet could dramatically cut risk of bowel cancer, says study

What happened when 20 Americans swapped diets with 20 Africans?

Innovative study in the US produces remarkable results
Blake Lively and 'The Age of Adaline': Gossip Girl comes
of age

Gossip girl comes of age

Blake Lively is best known for playing an affluent teenager. Her role as a woman who is trapped forever at 29 is a greater challenge
Goat cuisine: Kid meat is coming to Ocado

Goat cuisine

It's loved by chefs, ethical, low in fat and delicious. So, will kid meat give lamb a run for its money?
14 best coat hooks

Hang on: 14 best coat hooks

Set the tone for the rest of your house with a stylish and functional coat rack in the hallway
Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

How a costume drama became a Sunday night staple
Miliband promises no stamp duty for first-time buyers as he pushes Tories on housing

Miliband promises no stamp duty for first-time buyers

Labour leader pushes Tories on housing
Aviation history is littered with grand failures - from the the Bristol Brabazon to Concorde - but what went wrong with the SuperJumbo?

Aviation history is littered with grand failures

But what went wrong with the SuperJumbo?
Fear of Putin, Islamists and immigration is giving rise to a new generation of Soviet-style 'iron curtains' right across Europe

Fortress Europe?

Fear of Putin, Islamists and immigration is giving rise to a new generation of 'iron curtains'
Never mind what you're wearing, it's what you're reclining on

Never mind what you're wearing

It's what you're reclining on that matters
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?