Reuters: Bankruptcy News: PRESS DIGEST - Sunday British business - March 17

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PRESS DIGEST - Sunday British business - March 17 Mar 17th 2013, 14:19 LONDON, March 17 | Sun Mar 17, 2013 10:19am EDT LONDON, March 17 (Reuters) - British newspapers reported the following business stories on Sunday: The Sunday Times QATARIS PLAN 8 BLN STG SWOOP ON M&S One of the Middle East's richest investment funds is seeking partners to launch an 8 billion pound ($12.10 billion) bid for Marks & Spencer, the FTSE 100 high street retailer. U.S. TO GRAB HELICOPTER RESCUE DEAL An American helicopter operator is set to win a 3 billion pound contract to take over Britain's search and rescue service. Bristow, which is listed in New York and based in Houston, has beaten Bond Aviation, a British rival, to secure the 13-year deal. SHELL BUYS CHIEF'S 2.9 MLN STG HOME IN GOLDEN GOODBYE Royal Dutch Shell has given a former executive an extraordinary severance package that includes the purchase of his 2 million pound house - and 857,000 pounds in cash to compensate for its fall in value. CABLE REACHES FOR SKY Britain's Business Secretary Vince Cable will reveal plans this week to invest 1 billion pounds in the aerospace industry over the next decade. TWO WEEKS TO SAVE NUCLEAR PLANT Plans to build Britain's first nuclear power station in two decades could collapse in a fortnight unless the government agrees to provide tens of billions of pounds in subsidies. FUNDS BID FOR RBS NETWORK More than 20 of Britain's biggest fund managers will this week table a formal offer to buy 315 Royal Bank of Scotland branches. NATIONWIDE FACES BLACK HOLE IN RESERVES Britain's biggest building society Nationwide is facing the possibility of a multi-million-pound capital shortfall under potential new rules designed to prevent a repeat of the financial crisis. WAITROSE FUMES AT OCADO'S PLANNED TIE-UP WITH RIVAL Waitrose is examining whether its long-standing contract with Ocado would be breached by the online grocer's surprise plan for a tie-up with Morrisons. DUTCH CLEAR WAY FOR NUCLEAR SALE Holland has dropped its historic opposition to a sale of Urenco, clearing the way for a full privatisation of the state-backed nuclear fuel maker. HURRICANE'S 500 MLN STG FLOAT A North Sea oil explorer is set to join the rush of companies coming to the market with a 500 million pound London float. FALKLAND OIL FIRM IN INVESTOR REVOLT A shareholder revolt has erupted at Rockhopper Exploration , the company that made a big find of oil near the Falkland Islands. DEADLINE LOOMS FOR HMV RESCUE Administrators are racing to secure the future of music retailer HMV this week before the bust high street chain is hit with a rent bill running into tens of millions of pounds. 400 MLN STG CASH CALL AT TROUBLED MINING GIANT ENRC,, a FTSE 100 mining company under investigation by the Serious Fraud Office has started work on a 400 million pound rights issue to bolster its balance sheet. The fundraising will also help ENRC, whose main operations are in Kazakhstan, meet new London listing rules - a change that it inspired following a boardroom bust-up two years ago. The Sunday Telegraph APAX APPROACHED OVER POTENTIAL 1 BLN STG SALE OF TRAVELEX Apax, one of Europe's biggest private equity firms, has been approached over a potential 1 billion pound sale of Travelex, the foreign exchange business. Although the talks, thought to be with an Asian buyer, were unsolicited, they could still end up sparking a formal sales process later this year. BOOST FOR HIGGINSON'S RBS BRANCH BID Andrew Higginson has drafted in a group of banking veterans to bolster his bid for Royal Bank of Scotland's Williams and Glyn's branch business ahead of Thursday's bid deadline. TOPSHOP'S BILLION DOLLAR U.S. PUSH Sir Philip Green has revealed he wants Topshop to be a billion-dollar business in America over the next five years, as the brand which is a staple of the UK high street plans for significant global expansion. The Independent MURDOCH'S SKY TO TAKE ON REGIONAL NEWSPAPERS BSkyB is eyeing a move into local news that would pitch Rupert Murdoch's broadcasting giant into competition with regional newspaper groups such as Trinity Mirror and Johnston Press. The Mail on Sunday FEUDING AIRLINE CHIEFS UNITE FOR ATTACK ON PASSENGER TAX Rival airline chiefs have joined forces in an unprecedented show of unity to call on the Chancellor to scrap Air Passenger Duty in Wednesday's budget to boost growth. Link this Share this Digg this Email Reprints

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