What The Sunday Business Papers Said
Monday 20 September 1999
Customers of Liffe have spurned the futures exchange's new electronic system and are persevering with the traditional open outcry method of trading. Users of the exchange say that Connect has only managed to capture about a quarter of the key short sterling market.
Goldman Sachs, the US investment bank, is about to sign the biggest letting deal in the City this year. The bank is pre-letting a 400,000 square foot building just behind Fleet Street. It will give Goldmans the biggest presence of any overseas investment bank in London, with more than 1.5 million square feet.
THE SUNDAY TELEGRAPH Philip Morris, the US food and tobacco giant that makes Marlboro cigarettes and brews Miller beer, is considering the sale of its Jacobs Suchard confectionery business for up to $10bn, a move that would trigger a wave of consolidation in the industry.
Richard Branson's Virgin Group is preparing to sell a 50 per cent stake in its cinema business to fund international expansion and the construction of some of the world's largest multiplex screen centres.Virgin has hired Deutsche Bank to find a co-investor, who would be prepared to put in up to pounds 100m.
The European competition authorities are investigating BSkyB's pounds 13.8m investment in Leeds Sporting, the company that owns Leeds United, amid concerns that the satellite broadcaster may be abusing its position in the UK market for television sports rights.
SUNDAY BUSINESS Tesco and Virgin will this week launch a full-scale retailing revolution by unveiling rival plans to invade a range of areas from books to consumer durables. Tesco will launch an online operation selling books, CDs and videos. Virgin will offer consumers direct Net access to a worldwide network of wholesalers and manufacturers.
Chevron, the American oil giant, is understood to be in talks to buy Phillips Petroleum, its smaller rival, for about pounds 10bn.
British Energy, the privatised nuclear generator, is believed to be considering a pounds 1.5bn bid for Mid-American Energy, the utility that owns Britain's Northern Electric.
A confidential report from the US Drug Enforcement Administration into Michael Ashcroft, the Tory treasurer, reveals Mr Ashroft was investigated simply because he was "acquiring significant assets in Belize".
British Aerospace is this week expected to outline plans to create the second-largest missiles group in the world, by linking with French and Italian companies to create a group with sales of about pounds 2bn.
A fierce lobbying campaign is being mounted by BAA to head off a competition review that could see it forced to dispose of Gatwick airport.
THE OBSERVER Sales of Marks & Spencer's clothing have suffered a collapse this month, despite the launch of the chain's heavily promoted autumn range, with like-for- like sales down by 20 per cent compared with last year.
Barclays Bank is set to collect up to pounds 100m a year from its new pounds 1 charge on cash-machine withdrawals by customers of other banks and building societies. The controversial charge is set to be introduced next month.
Retailers appear to have won a battle to have credit card operators investigated for excessive charges that add millions to the nation's shopping bill.
THE MAIL ON SUNDAY Don Cruickshank, heading the government review of the banking industry, is poised to ask regulators to launch an inquiry into the charges that firms such as American Express and Visa make to retailers that allow credit card payments.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 3 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
- 5 AirAsia flight QZ8501 missing: Search for plane carrying 162 passengers from Indonesia to Singapore suspended overnight
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
UK weather: Warning for more snow and ice as freezing temperatures and gales hit Britain
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
AirAsia flight QZ8501 missing: Search for plane carrying 162 passengers from Indonesia to Singapore suspended overnight
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Millions of Britons struggling to feed themselves and facing malnourishment
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...