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Round Up

CO-OPERATIVE Group has indicated it is not keen to pump another £120 million into its struggling banking arm.

The bank is due to announce details of a £400m fundraising this week.

The Sunday Telegraph suggests Co-operative Group will not subscribe for its full rights which will trim its stake in the bank from 30% to closer to 20%

Sticking with the financial world Barclays is predicted to step up its cost-cutting this week by putting businesses in Italy, France, Spain and Portugal up for sale.

The Sunday Times says the bank's chief executive Anthony Jenkins will reveal the move as part of a strategy review to be published on Thursday. It is also expected Barclays will form a non-core division for other underperforming parts of the group.

Fashionable Wellington boot maker Hunter is believed to have agreed terms to open a flagship retail store in London.

The company, which has its headquarters in Edinburgh and has become a popular footwear choice for celebrities at music festivals in recent years, is planning to take a 5,000 square feet space on Regent Street. The Sunday Telegraph believes it will open this autumn.

In other retail news, Mothercare is reported to have started talks about renegotiating its banking covenants.

The Sunday Times suggests a specialist team from accountancy firm PwC are leading the talks on behalf of the baby and parenting products provider.

It is only seven months since Mothercare announced a £90m refinancing backed by the likes of HSBC and Barclays.

Scotland's early stage and start-up businesses are still facing challenging funding conditions, according to the Sunday Herald.

Research from Young Company Finance Scotland found 41% of entrepreneurs were not confident of sourcing backing in their home country.

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