Sunday, 21st December 2014

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News & Reports

Sunday share tips: BT Group, Shepherd Neame, Afren

Sun 21st Dec 14, 20:01:24

Long-term investors should consider buying shares in BT, Danny Fortson argued in the Sunday Times. The Inside the City columnist said BT boss Gavin Patterson is likely to ask shareholders for about £2bn to help fund his acquisition of mobile operator EE. Patterson might not stop there because the next soccer Premier League rights auction is looming. He has the chance to deal a knockout blow to Sky, whose finances are tight after consolidating its European operations. Investing ahead of a rights issue is not for those after quick returns "but if you are happy to wait, why not take a punt on BT?" Fortson said.

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Sunday newspaper round-up: Catlin, North Sea, Banks

Lloyd's of London insurer Catlin has agreed to be taken over by rival XL, the Sunday Times reported. The deal was sealed on the night of December 20th and is broadly in line with terms revealed to the market last week. Catlin shareholders will get 410p in cash and 0.130 shares of Dublin-headquartered XL for each Catlin share, valuing the company at £2.5bn. Lloyd's companies Amlin and Hiscox could be the next takeover targets in a wave of insurance consolidation, industry insiders told the paper. 4 hours ago

Reports say German state buys CD containing data of Swiss bank clients

German authorities in the state of North Rhine-Westphalia (NRW) have bought a CD containing data about several thousand German clients of a Swiss bank. 6 hours ago

OPEC does not need to cut production, says Kuwaiti minister

The Organisation of the Petroleum Exporting Countries (OPEC) does not need to cut production, said Kuwaiti Oil Minister Ali al-Omair. 8 hours ago

Catlin accepts XL £2.5bn takeover offer

Catlin, a Lloyd's of London insurer, is reported to have accepted a £2.5bn takeover offer from US firm XL. 8 hours ago

'Challenging conditions' to weigh on grocery markets for two years, says Sainsbury's CEO

It could take up to two years before "extremely challenging" conditions in the grocery market improved, Mike Coupe, the chief executive of Sainsbury's, said on Sunday. 9 hours ago

Union leaders want tax cuts to save oil industry

Union and industry representatives have demanded the UK Government slash taxes in a bid to save the North Sea oil industry in the wake of a sharp fall in oil prices. 10 hours ago

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