A to Z of the Sunday newspapers

This Is Money13 April 2012

HERE is This is Money's round-up of some of the bigger stories from the Sunday newspapers.

Independent on Sunday

Liverpool FC
Fears are growing about Liverpool soccer club after it failed to secure a sponsor to replace Carlsberg. The lack of sponsor means the team will not be able to produce replica kits in time for the beginning of the new season. The club's £6m, 12-month deal with Carlsberg is on the verge of collapse, and the team may also have to compensate kit supplier Reebok.

Somerfield
The Livingstone Brothers and Robert Tchenguiz, two of the property sector's biggest names, are set to go head-to-head in a battle for the control of Somerfield after rival suitors dropped out of the race.

The Nomura-backed Livingstone bid and Tchenguiz confirmed detailed bid proposals last week. Topland, the property group, will not be putting forward an offer. Asda was believed to be considering a bid but insiders in the group say that it has still not forwarded a proposal.

Northern Foods
Northern Foods has said it will take the government to the High Court over a decision by the Department for Environment Food and Rural Affairs to back an application to protect the Melton Mowbray name. The decision could affect its sales of 200 million Melton Mowbray pork pies each year.

A spokesperson for Northern Foods confirmed the company has written to Defra to inform the government that it will seek a judicial review if the application goes ahead.

Green energy
Scottish Power is heading calls for the government to double its target on wind farms and other sources of renewable energy in order to achieve the goal of generating almost a third of all the UK's electricity from renewables by 2030.

However, doubling the target could also result in an increase in electricity prices by as much as 20%, based on current estimates by the Department of Trade and Industry.

Observer

Marconi
Trade and Industry Secretary Patricia Hewitt has told Marconi the government is unable to spend taxpayers' money to protect 2,200 jobs which have been placed at risk after the company failed to win a role in BT's £10bn pound upgrade of its telecoms network. Hewitt suggested the government might be able to come up with a plan later on with regard to matching skills to other companies.

Capital Radio
Investors in Capital Radio will find out this week if the organisation has retained its status as London's most listened to radio station. The news will determine the share price of the combined Capital Radio/GWR group, which will be renamed Gcap once its shares start trading on May 9.

However, quarterly figures from Rajar, to be released on Thursday, could show that Capital Radio's listening figures fell in March. Investec has said it expects Capital to make a pre-tax profit of £22.2m this year, 8.8% down on a previous estimate, and the Rajar report could cause further downgrades.

Matalan
Matalan is expected to announce its sales growth has stalled, in yet another sign of a slowdown in the high street.

The group's full-year figures are announced on Thursday, and if the expectation is true, the news would reveal a dramatic turnaround for the company since the beginning of the year when it reported a 4.6% increase in like-for-like sales. The news could be softened by news that margins may have benefited from 'fewer distress markdowns'.

Sunday Telegraph

M&S
Major Marks & Spencer's shareholders have stated they will back a bid by Paul Myners to continue as chairman, despite opposition to his presence in the company by fellow non-executives.

Myners' supporters include Amelia Morris, a senior analyst at U.S. fund manager Brandes, Legal & General Investment Management and Standard Life Investment Management. Brandes is M&S's largest shareholder.

Man Utd
US sports tycoon Malcolm Glazer is about to launch a formal bad for Manchester United worth £800m, possibly on Thursday or Friday. The bid values the team at 300 pence a share. NM Rothschild, which is advising Glazer, has decided to change its tactics and will make the offer available to all shareholders rather than seeking prior backing from JP McManus and John Magnier, who hold a 28.9% stake in the team.

Rover
260 MG Rover dealers are close to completing a deal with Capital Bank, a division of HBOS, to waive part of an estimated £40m that they owe to cover unsold cars.

Dealer representatives are in talks with the bank, but executives close to the matter state the bank is willing to shoulder some of the losses caused by the collapse of MG Rover and a deal could be announced early next week. Capital Bank has acted as the financial intermediary between MG Rover and its dealer network.

Sunday Times

Compass Group
Compass Group has drawn up plans to sell businesses and return funds to shareholders after the company announced two profit warnings in seven months and is now attempting to fend off an investor revolt.

Board directors have said the group needs to take action to show investors it is listening. The board is in a race to reveal positive news to shareholders on May 18, when its interim results are announced.

Compass's share price has fallen 34.7% over the last year, underperforming the FTSE All-share index by 39% over the same period.

Phoenix Four
Pension payments to the Phoenix Four are to be reduced after the new trustees of their £16.6m retirement trust said it would be handed over to a government agency, the Pension Protection Fund.

Under PPF rules, John Towers, chairman of Phoenix Venture Holdings, which ran MG Rover, will receive a maximum of 25,000 pounds, down from an original figure of between 80,000 to 85,000 pounds a year.

The fund was originally set up in 2002 to provide retirement benefits to the Phoenix Four, MG Rover chief executive Kevin Howe and 90 other senior Rover employees.

Vue
Vue, one of Britain's largest cinema chains, has bought Ster Century in a deal said to be worth around £50m. The deal has been backed by private equity groups Boston Ventures, Clarity Partners and L&G Ventures and will give Vue an extra 500 screens across 49 sites in the UK. Ster was sold by a consortium including the chain's management and specialist debt provider Hutton Collins.

Tesco
Tesco <TSCO.L> has targeted Asda in an aggressive price-cutting campaign after shoppers in Kingston Upon Hull were sent vouchers offering them 10 pounds off the cost of their shopping if they spent just 30 pounds with the supermarket chain.

It is thought the vouchers were delivered to over 20,000 homes in the area and that each household has received four vouchers. The area has been the scene of a bitter battle between Tesco and Asda.

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