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Friday newspaper round-up: RBS, SSE, Google…

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14/06/2013
Sainsbury's boss among list for RBS chief executive; SSE boss receives £1m payout despite resignation; Brussels takes tough stance on Google.

According to The Scotsman, Sainsbury‘s chief executive officer (CEO) Justin King is among the names being thrown into the hat of potential recruits for the CEO role at RBS, “although a candidate from within the financial services sector remains most likely to replace Stephen Hester”. The paper also names Tesco Bank boss Benny Heggins and Lloyds Deputy Chairman David Roberts as possible candidates.

Polymetal CEO Vitaly Nesis told The Independent that the Russian gold miners would take three years to re-enter the FTSE 100 after the company was demoted from the blue-chip index as its share price sunk on the back of falling metals prices.

The Times says that Apple admitted it had not been concerned about its customers paying higher prices for e-books after its entrance into the market before the launch of the iPad in 2010. This comes amid a trial that accusing the tech giant and five top publishers of conspiring to increase prices.

The Telegraph cites two of the auto industry’s top executives as saying that Britain could overtake France to become Europe’s second-largest car maker within the next five years.

Ian Marchant, the CEO of energy group SSE, received £2.6m in pay for last year, including an additional £1.0m payout in shares, despite announcing his resignation in January, writes The Guardian.

According to the Financial Times, Google is facing an investigation by Brussels into allegations that it “supported the leading Android smartphone platform and its mobile services by means of cut-price licensing and exclusivity deals”.

The Centre for Economic and Business Research has said that household spending will grow by just 1.8% between this year and 2018 as households try to stay out of debt, writes The Times.

 

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