The Telegraph says that Waitrose head Mark Price is refusing to meet with Ocado chief Tim Steiner after the online grocery group agreed to help rival Morrison develop an online shopping website.
According to The Times, British parcel delivery group UK Mail is close to signing a deal with the Department for Transport for the high-speed rail line running from London to Birmingham and beyond. The paper says that the railway tracks are set to go straight through the middle of its depot.
“The uncertain future of the Yellow Pages directories publisher Hibu took yet another twist yesterday as the debt-laden company unexpectedly delayed its annual results,” writes The Independent. The company, which had been due to report this week, said that a date would be “advised in due course”. The paper says that a source close to the matter said that the firm could announce plans for a capital restructuring.
The head of utility group SSE has said that attacks by politicians on UK-listed firms risk driving money and talent away to foreign private-equity firms, The Telegraph writes.
The Times says that department store chain giant Saks has hired Goldman Sachs to evaluate options for a potential sale. The firm is thought to be worth as much as $3.0bn.
“George Osborne is preparing to set out his plans to return bailed-out Lloyds Banking Group and Royal Bank of Scotland to the private sector after the International Monetary Fund called on him to devise a ‘clear strategy’ for the two banks,” reports The Guardian. The paper says that the Chancellor will reveal his decision after the report by the Parliamentary Commission on Banking Standards next month.
Stocks in Japan dropped as much as 6.0% on Thursday as the yen appreciated strong against the US dollar, reports the Financial Times.