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higher taxes, when measured as a proportion of national income, than any other top industrial country, according to an unpublished study by the Organisation for Economic Co-operation and Development.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
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
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

Ashdown Group: Product Manager - (Product Marketing, Financial Services)

£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...

Recruitment Genius: Compliance Assistant

£13000 per annum: Recruitment Genius: This Pension Specialist was established ...

Ashdown Group: Market Research Executive

£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...

Recruitment Genius: Technical Report Writer

£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...

Day In a Page

Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee