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Round Up

FORMER Royal Bank of Scotland Stephen Hester is thought to be preparing an £800 million cash call to investors in his new post at insurer RSA.

The Sunday Times says plans to sell some of RSA's overseas businesses could see the total raised reach around £1 billion.

Scottish bus company McGill's has abandoned plans for a first overseas venture in Malta, reports the Sunday Herald.

Chief executive Ralph Topping said the firm had been unable to get enough clear information about how services on the island and neighbouring Gozo would operate, so decided not to pursue a tender application. McGill's is controlled by brothers Sandy and James Easdale, who are also shareholders in Rangers.

Media company DC Thomson is said to have drafted in the founders of Friends Reunited to overhaul the website it bought from ITV for £25m in 2009.

According to the Sunday Times, Steve Pankhurst and Jason Porter plan to launch a number of new services in a bid to revive the web portal they helped to launch in 2000.

The chief executive of the Financial Services Compensation Scheme has warned claims for mis-sold payment protection insurance could run for several more years.

Mark Neale told the Sunday Telegraph we may not have seen the peak of claims in spite of the bill already topping £13 billion.

A number of new flotations are being pencilled in for the coming months. SSP, which operates fast food and cafes at trains stations and airports under brands such as Millie's Cookies and Delice de France, is considering a listing in the summer according to the Sunday Times.

The same outlet reports that entrepreneur Luke Johnson's Risk Capital business is drawing up plans to float Patisserie Valerie with the company likely to be valued at around £150m.

Meanwhile, online takeaway food Just-Eat is looking at becoming the first company to list on the London Stock Exchange's high growth platform. The Sunday Telegraph says the venture capital backed company may only list 10% of its shares through the platform, which allows businesses to use a lower level than the normal 25% freefloat.

Retail data specialist Ecommera, used by the likes of Asda and House of Fraser, is reported to have raised £25m to aid expansion ahead of a likely stock market listing. Existing investors at Ecommera include Sir Tom Hunter's West Coast Capital and Sir Martin Sorrell's WPP. The Sunday Telegraph said the latest funding round was led by Dawn Capital and Wti.

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