The Sunday Telegraph
TESCO TO OPEN DRIVE-THRU STORE
It has moved into banking, pet insurance and telecoms, but Tesco will expand its reach further this week with the launch of the UK’s first ever “drive-thru” supermarket. The service will allow customers to pick up their weekly shop without leaving their car.
LIDL SET TO POWER TRADE
Lidl, the cut-price supermarket, is dipping its toes into the world of electricity trading dominated by banks and utilities – as it seeks to deal with increasing energy bill volatility. The supermarket is setting up its own power trading desk, after UK managers taught themselves how to trade using dealing platforms. It is usually the banks and major utilities that trade on the complex markets driven by oil, gas and coal prices.
THE SUNDAY TIMES
SPINVOX’S DOMECQ IS BACK
Christina Domecq, the web entrepreneur who left the text messaging firm Spinvox under a cloud, has staged a swift return to business. She has been appointed to run Phreadz, a social networking start-up company based in San Francisco. A scion of the Domecq sherry family, she was signed up by Georges Daou, a serial technology investor who made his fortune selling IT to healthcare firms.
INDIANS QUIZ DE LA RUE
Indian government officials will fly in to De La Rue’s plant in Overton, Hampshire, this week to investigate production errors that sent the banknote printer’s shares into a tailspin and forced its boss to quit. The problems concern De La Rue’s largest contract, to supply watermarked banknote paper to the Reserve Bank of India.
US REVIEWS EXPORT RULES FOR BAE
The US state department will formulate a company specific “policy” to address export licence approvals for BAE Systems and its subsidiaries following an analysis of the UK defence group’s guilty plea to criminal charges in March and discussions with BAE representatives, a department official said.
BROKERS FACE FINES OVER FLASH CRASH
Brokers who allowed high-frequency traders to have access to the markets without undertaking proper checks on them face potential fines as part of a clampdown following the “flash crash”. The Financial Industry Regulatory Association is undertaking a “sweep” of broker-dealers that offer market access to high-frequency traders.
The Daily Telegraph
MINISTERS TO HELP UK ENERGY FIRMS
David Cameron and other British ministers will “get out there” lobbying Russia and other oil-rich countries to give UK energy companies new business, according to Charles Hendry, the energy minister. In the past few weeks, the government has called a meeting of ambassadors informing them that British politicians are actively looking to help UK businesses secure big deals abroad.
PSION SENSOR HELPS PLAYERS KEEP COOL
Psion, the British company that moved into smartphones 20 years before they were fashionable, has developed cutting edge technology to help save American footballers from dying of heat stroke. Psion, which crashed out of the FTSE 100 when the dotcom bubble burst in 2000, has helped create a helmet with built-in sensor.
TCHENGUIZ FIGHTS TO DITCH HIS FAMILY TRUSTEE
Robert Tchenguiz is trying to remove the trustee of his family trust amid attempts by his lender, the failed Icelandic bank Kaupthing, to seize what’s left of the property tycoon’s depleted fortune. The Times has learnt that Mr Tchenguiz, once worth more than £1 billion, has asked a court in Guernsey to remove Investec as the trustee of Tchenguiz Discretionary Trust.
HOLY LAND ROCKED BY OIL SEARCH
An American-backed plan to extract oil shale from rocks beneath the Holy Land has triggered fierce opposition in Israel. The Union for Environmental Defence is seeking an injunction from the country’s Supreme Court to block the project, which intends to produce a type of crude from a vast deposit in the Adullam valley.