Monday 26 June 2017

Independent talks on sale extended

media

Independent News & Media has extended talks with Russian billionaire Alexander Lebedev over the future ownership of its two British national newspapers to February 26. The group entered into an exclusive non-binding agreement with Mr Lebedev regarding its 'Independent' and 'Independent on Sunday' titles in December and said yesterday, it set a fresh deadline to bring discussions to a successful conclusion.

Supergroup uses market for capital

fashion

SuperGroup, a youth fashion group with stores in the UK and Ireland, said it would raise £125m (€143.9m) in a stock-market flotation this April. The share sale will support SuperGroup's growth and pay for working capital requirements, the company said as it began a road show this week. The sale would value the debt-free company at about £400m.

BA looks to use low-emission fuel

Aviation

British Airways said yesterday that it would use low-carbon fuel to power part of its fleet from 2014 once Europe's first sustainable jet-fuel plant was built by US biofuels specialist, Solena Group. BA chief executive Willie Walsh said the "unique partnership" with Solena would put the airline on the road to realising its target of reducing net carbon emissions by 50pc by 2050.

Banks struggle with refinancing

finance

British banks will struggle to refinance £319bn of bonds backed by home loans as the UK government prepares to withdraw two aid programmes, Moody's Investors Service said. "It is highly uncertain that the mortgage-backed securities market will have the capacity to absorb the level of refinancing needed," according to the report.

Barclays set for bonus bonanza

BANKS

Banking giant Barclays is to post record annual profits of more than £11bn (€13.75bn) today -- triggering huge payouts for its investment bankers. The profits bonanza -- almost double the level achieved in 2008 -- is expected to generate a reported pay and bonus pot of £4.5bn (€5bn) for last year. However, public outrage on pay following taxpayer support to banks could force Barclays to limit the bonuses it pays out.

Irish Independent

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