What the Sunday papers said
The Mail on Sunday
Punch Taverns founder Hugh Osmond is thought to have cashed in around £6m worth of shares in the pub group, just weeks after the company floated. Mr Osmond is thought to have cashed in shares at 245p. The sale of about half his shares in the group so soon after launch is likely to raise eyebrows in the City. The shares slowly fell after the sale, to stand at 216p on Friday. With a personal fortune estimated at £150m, Osmond is not short of cash. Read more on thePublican.com...
Investment company Guinness Peat Group (GPG) has tabled resolutions to change Young & Co's share structure. GPG owns a quarter of Young's shares but only has 10 per cent of the voting rights. Shareholders will vote on the proposals at Tuesday's annual general meeting.
One million former ITV Digital subscribers could be forced to give up their set-top boxes under plans being drawn up by the administrator to the collapsed pay-TV operator. Deloitte & Touche, appointed in March, is in 'advanced talks' to sell the boxes, originally handed out to customers for "free". The single biggest creditor is ITV Digital Holdings, owned by Carlton and Granada, which is claiming £402m.
The six biggest high street banks are expected to share an £11bn profits bonanza when they unveil results for the first six months of this year.
The Sunday Express
Hugo Powell, chief executive of Interbrew, the Belgian brewer, has emerged as one of the main sources of the Financial Times report that the beer maker was planning a bid for South African Breweries. In an off-the-record meeting last November he indicated to the newspaper that an approach might be on the cards. Five media organisations, including the FT, were ordered to hand back leaked Interbrew documents regarding a bid approach. Read more on thePublican.com...
Shares in Springwood, currently trading at seven times earnings, are worth a look. The nightclub and bar operator's attempts to reassure the market over trading has failed to spark a recovery in the shares from their nine-month low. The company is confident of an upturn in the next six months.
The Business
Pubmaster is understood to be in advanced negotiations to buy 22 pubs in Scotland in a move that will significantly boost its market share north of the border.
Pub and brewing sectors continue to be safe havens in today's turbulent markets. Stocks such as Greene King and Wolverhampton & Dudley have outperformed the market since the beginning of the year. For investors seeking a reliable but growing income stream in a stock not looking too expensive, Wolverhampton looks a good bet.
The Weekend FT
Belhaven has seen a recent surge in its shares. It has become Scotland's leading regional brewer and pub company. It plans to double its estate within three years. the price-earnings ratio of 10 is undemanding when compared to Greene King.
The Observer
The world's biggest drinks company has turned to sex. Coca-Cola will launch a £500,000 advertising campaign this week using naked models - skin glistening next to an ice-cold bottle - with the slogan: 'Get your hands on a contour'. Coke said British drink buyers are ready for a more adult approach. The ads are in stark contrast to the Seventies' 'Teach the World to Sing' campaign.
Hangovers could be a thing of the past. Global Health Products is raising £300,000 to finalise clinical tests of Zetox, a volcanic mineral. According to the manufacturer, the mineral's porous properties absorb the toxins from alcohol that cuase hangovers. The pills have been tested on students at Queen's University, Belfast, and successful clinical trials will see the products sold over the counter in health food shops and chemists within months.
The Sunday Times
Rumours along the restaurant grapevine suggest that Tony Allan, who recently put his Fish! chain into administration, has made a £4m bid to buy back some of the restaurants. He will have be quick because Pizza Express is tipped to make a bid to receivers next week.
The 150-year-old Scotts restaurant, owned by troubled restaurant group Chez Gerard has been sold to Home House, the private club, which hosted Sir Paul McCartney's stag bash recently.
The Independent on Sunday
The Attorney General, Lord Goldsmith QC, is to take charge of defending the Serious Fraud Office when the Guinness four take their appeal against their convictions to the House of Lords later this year.
For a decade, Sir Terence Conran's restaurants were the epitome of chic dining, the trendiest places to eat at and be seen eating at. But now the vultures are circling. According to the latest edition of a leading guide to dining out, they are only fir for "hen nights" and "coach parties".
