What the Sunday papers said

Related tags Government Economy Ernst & young

The Sunday TimesTHOUSANDS of asylum seekers are to be housed in country hotels and mansions being bought by property firms working for the Home...

The Sunday Times

THOUSANDS of asylum seekers are to be housed in country hotels and mansions being bought by property firms working for the Home Office.

David Blunkett has commissioned 20 accommodation and property companies to find large buildings that have planning permission for use as hostels.

A WOMAN aged 35 missed her flight to America and a £3,000 two-week cruise after she got drunk at Manchester airport. She was arrested after allegedly attacking a policeman.

BRITAIN is heading for an undershoot of Gordon Brown's growth forecasts for the next two years, according to the latest Ernst & Young Item Club forecast, out this week.

The forecast, using the Treasury's model of the economy, predicts a slowdown in consumer spending but warns the economy could "capsize" if households retrench more rapidly.

The Business

THE merger between BRL Hardy and Constellation Brands will send shockwaves through the wine industry and pose serious questions for giant E&J Gallo. The new business would leapfrog Gallo to the position of biggest wine maker, both globally and in the UK.

FEARS are growing that the UK economy is going to miss Chancellor Gordon Brown's growth targets for a second year in a row, forcing him to choose between tax-and-spend plans and financing a soaring budget deficit by borrowing more.

The Mail on Sunday

TWO directors of Imperial Tobacco, which has been accused by MPs of hindering Government attempts to halt cigarette smuggling, shared a £1m New Year bonanza.

Chief executive Gareth Davis and finance director Robert Dyrbus collected £667,000 and £392,000 respectively under long-term incentive schemes.

GORDON BROWN should come clean about nearly £100bn of hidden Government liabilities, a Labour-dominated Parliamentary committee will demand this week.

The Treasury sub-committee is to call for all commitments made under the Government's Private Finance Initiative to be prominently displayed in public accounts, leaving the Government's balance sheet looking a lot less healthy.

The Sunday Express

SHAREWATCH: Profit warnings from JD Wetherspoon and financial problems elsewhere in the pub sector have led to a more cautious approach from the stockmarket.

Six Continents is splitting its pubs and hotels businesses and returning £700m to shareholders. At 11 times forecast earnings the shares do not look expensive but there is better value elsewhere.

DIGBY JONES, head of the CBI, UK manufacturing faces a crisis of disappearing profits and lack of future investment.

The Observer

CITY firms are racing to prepare emergency measures against anthrax and bomb attacks amid fears that London is not prepared for a major terrorist strike.

FEARS that the consumer boom is not only stalling but set to reverse within weeks will be fuelled by fresh predictions of retail sales decline and figures showing a steep drop in shopper numbers.

Weekend FT

PINCO, Luke Johnson's investment vehicle, has declared its offer for Signature Restaurants, owner of the Belgo and Strada chains, unconditional, with 88.3 per cent of the shares. The deal values the company at £25.2m.

THE balance of power on company boards is set to undergo a fundamental shift in favour of independent non-executive directors in a wide-ranging overhaul of corporate governance. Non-execs are also likely to be restricted to one board, forcing many "pluralists" to resign from other companies.

The Sunday Telegraph

GLASTONBURY Festival organisers have offered to spend £100,000 on extra security to protect a nearby village from gatecrashers to try to save this year's event in June.

Mendip district council refused permission for the festival after trouble last year.

The Independent on Sunday

A CUT in interest rates, a weaker pound and static housing markets are in prospect, according to the latest predictions of the Ernst & Young Item Club.

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Village position close to Reading and Newbury Extensively renovated public house Bar, conservatory, snug and function room (80-90) Four en suite letting bedrooms Two bedroom owner/staff accommodation Part-covered trade garden...

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