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Press Digest: Sunday British business - May 6
May 6, 2012 / 2:16 PM / 6 years ago

Press Digest: Sunday British business - May 6

LONDON, May 6 (Reuters) - British newspapers reported the following business stories on Sunday:

The Sunday Times:

MINING GIANT SET FOR SURPRISE BREAK-UP

ENRC, one of the largest London-listed mining groups, is working on a plan to split in two by spinning off its controversial African mining arm.

FERROVIAL‘S CLEAN SWEEP

Ferrovial, the owner of Heathrow airport, is in advanced talks to buy Enterprise, Britain’s biggest street-sweeping company, in a 500 million pound deal.

BAE SYSTEMS TAKES AIM AT 500 MLN POUNDS SAUDI ORDER

BAE Systems is close to sealing a 500 million pounds deal to sell up to 30 Hawk trainer aircraft to Saudi Arabia.

BANK WOES TO HALVE GROWTH

Britain will grow by just half the official forecast over the next five years as banks restrict lending, a senior economist at Legal & General has warned.

COMET OWNER IN FRENCH EXIT

The new owner of Comet and Game Group, Opcapita, is mulling a sale of But, the French furniture and electrics chain it acquired in 2008.

CHINESE EYE RIO‘S AFRICAN JEWEL

A secretive group of Chinese tycoons is plotting to take away the world’s largest undeveloped iron ore mine project from Rio Tinto mining.

HOTELS BOSS TO WHIP FITNESS FIRST INTO SHAPE

The former chief executive of Intercontinental Hotels is to be parachuted in to help rescue Fitness First , the world’s largest gym chain. Andrew Cosslett is likely to start next month.

LOANS DRIVE M6 INTO REVERSE

The M6 toll road faces an uncertain future after Macquarie, the Australian bank that owns it, wrote down the value of the asset and recorded a huge loss last year.

INVESTORS DOUBLE MONEY AT 350 MILLION POUNDS DRUG MAKER

One of Britain’s leading drugs makers, Mercury Pharma, could soon be swallowed by a larger rival in a deal worth more than 350 million pounds.

The Sunday Telegraph:

PRUDENTIAL SEEKS NEW BUILDING FOR LONDON HQ

Prudential is on the hunt for a new headquarters in central London in a sign of the company’s commitment to the UK despite its recent threat to move its domicile to the Far East.

GROUPON BOSS URGES UK ARM TO TIGHTEN UP

The chief executive of Groupon said he has launched weekly checks on the UK arm of the business after the Office of Fair Trading and Advertising Standards Authority criticised the technology start-up for poor controls and breaches of consumer regulations.

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