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higher taxes, when measured as a proportion of national income, than any other top industrial country, according to an unpublished study by the Organisation for Economic Co-operation and Development.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
ebooksAn introduction to the ground rules of British democracy
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: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....

Recruitment Genius: Compliance Manager

£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...

Day In a Page

Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'
10 best statement lightbulbs

10 best statement lightbulbs

Dare to bare with some out-of-the-ordinary illumination
Wimbledon 2015: Heather Watson - 'I had Serena's poster on my wall – now I'm playing her'

Heather Watson: 'I had Serena's poster on my wall – now I'm playing her'

Briton pumped up for dream meeting with world No 1
Wimbledon 2015: Nick Bollettieri - It's time for big John Isner to produce the goods to go with his thumping serve

Nick Bollettieri's Wimbledon Files

It's time for big John Isner to produce the goods to go with his thumping serve
Dustin Brown: Who is the tennis player who knocked Rafael Nadal out of Wimbeldon 2015?

Dustin Brown

Who is the German player that knocked Nadal out of Wimbeldon 2015?
Ashes 2015: Damien Martyn - 'England are fired up again, just like in 2005...'

Damien Martyn: 'England are fired up again, just like in 2005...'

Australian veteran of that Ashes series, believes the hosts' may become unstoppable if they win the first Test