Stories of Tata’s proposed takeover of Corus dominated the newspapers at the weekend
Brazil's CSN plots to trump Corus bid
The Sunday Times reported that CSN has appointed investment bank Lazards to advise it on a possible rival bid to that of Indian company Tata Steel which has made a recommended £5.1bn offer for Anglo Dutch group Corus. The paper said that German steel giant Thyssen Krupp was also circling Corus and that Tata was almost certain to withdraw if a bidding war enused. It said that Russian steel group, Severstal, was less likely to make a bid because it was busy with a flotation in London.
Tata has got Corus on the cheap, say investors
Meanwhile the Telegraph reported that one of Corus Standard Life Investments' largest shareholders thinks that the takeover by Tata has undervalued the Anglo-Dutch steelmaker.
Corus chief in line for £13m after backing Tata bid
The Independent on Sunday said that Philippe Varin, the chief executive of steel giant Corus, stands to net more than £13m if the Tata deal goes through.
Corus deal sets cost-cutting deadline for UK plant
The Times said that under a Tata takeover one of Corus' main UK factories would only have three years to cut costs before losing work to cheap imports from India. The factory in question us located in Port Talbot, south Wales, where 3700 people are employed.
How West Ham move to 2012 stadium could stay on track
The Independent on Sunday’s sports gossip column Inside Lines reported that former London 2012 spinmeister Mike Lee is now working for Icelandic businessman Eggert Magnusson, one of the takeover bidders for West Ham. The move could bring Lee up against his former colleagues if West Ham decides to pursue its idea of moving to the Olympic stadium - an option that would include living with the promised legacy of an athletics track.
Africa's World Cup off-target as building costs spiral to £850m
South Africa's projected bill for hosting the 2010 World Cup has ballooned to more than £850m, reports Saturday’s Independent. The figures come hot on the heels of last month's controversy when the chairman of Germany's 2006 World Cup organising committee, Franz Beckenbauer, denounced South Africa's organisers as being beset by "African problems", and touted Australia as an alternative host. The latest figures, released by the country's 2010 local organising committee, are an enormous jump from the initial 2.3bn rand (£160m) projected when South Africa won its bid to host the event in 2004.
Why homes offer no shelter from Labour’s revenue raisers
The Financial Times reported that Britain has the highest property taxes in the world. As a percentage of income, British property prices were almost 70% higher than the international average in statistics for 2005 from the Organisation for Economic Co-operation and Development.
Rate rise ‘done deal’ after growth spurt
The Financial Times said a rate rise was more likely after UK economic growth hit its fastest annual rate in two years in the third quarter according to data from the Office of National Statistics.
FT money: directors’ deals
Iain Napier, chief executive at Taylor Woodrow made his third disposal of the year on Monday as the shares regained the value they held before the market correction in May. Directors at the construction giant have made 22 share disposals this year with only a single buyer, says the FT.
Energy subsidy plan for homes run out of cash
The government’s green credentials have suffered a blow, the Guardian claimed this Saturday, after it emerged that grants for renewables for households has already run out of money for this year. The £3.5m allocated to last until next April, the paper reported, ran out this week.
It’s official: terraces are best homes for families
The government is set to demand a return to larger, family homes, the Observer reported on Sunday. The paper said that housebuilders will be told to by local councils to put homes for families and children at the forefront of their plans, otherwise new developments will be refused.
Freedom of information curbed 'to spare red faces'
The Government is concerned about embarrassing information being uncovered by people using the Freedom of Information act and that Labour plans to reign in the legislation to make it harder for such material to be obtained, the Telegraph revealed.
Green taxes will be the key to Cameronomics
Tories are talking of 'rebalancing' the tax system by reducing the tax paid by families and making up the difference by increasing the taxes on pollution and encouraging green behaviour, according to the Sunday Telegraph.
Supermarkets call for planning law reform
The Sunday Telegraph also said that major supermarkets in the UK are calling for changes to planning regulations relevant to new stores and extensions. J Sainsbury, Asda, Wm Morrison and Marks & Spencer made the demands in their submissions to the competition watchdog's inquiry into the grocery market. The retailers said that the existing system has contributed to the dominance of Tesco, the UK' slargest supermarket chain.
New masterplan for Saudi Development foresees city of two million residents
The Times on Saturday said that the biggest commercial development in Saudi Arabia - the King Abdullah Economic City on the Red Sea coast north of Jedda - is to quadruple in size to 160m sq ft. Emmar, the Dubai-based developer, unveiled a new masterplan for the scheme last week. Its estimated value is $100bn (£53bn).