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Round-up

FORMER Royal Bank of Scotland chief executive Stephen Hester has said he does not carry any negative emotions about his time at the lender and is proud of what he achieved.

However, in an interview with the Sunday Telegraph he admitted frustration over being unable to apply business solutions as a result of the complex public ownership of RBS. Mr Hester is soon also expected to announce further writedowns at the RSA insurance business he is now running.

The owner of Luton Airport is considering a £7 billion stock market flotation which would be Europe's biggest this year.

The Sunday Telegraph reports Spanish firm Aena Aeropuertos, which is state backed, has appointed a number of investment banks to advise on the deal. Aena controls 51 hubs, with most of them spread across the Iberian peninsula.

The Sunday Times reports that profits at The Economist Group tumbled more than 10 per cent from £64 million to £57 million.

The publisher of The Economist weekly magazine said there had been a dip in print advertising revenues but it was receiving more income from its website along with its apps.

The future direction of Ulster Bank could be clearer this week according to a report in Dublin's Sunday Business Post.

It suggests owner Royal Bank of Scotland has received a recommendation from Morgan Stanley, which is working on a review of RBS's Irish operations, to sell a majority stake. A formal announcement could be made as early as this week, according to the report.

Scottish cyclewear business Endura is expecting a long-term boost in sales after two teams wearing its kit completed the Tour de France. The Livingston company is co-sponsor of the Netapp-Endura team, while it also supplied Movistar for the first time this year. The Sunday Herald suggests revenue at Endura is to be around £28 million.

Department store operator Debenhams is reported to have poached the finance director of fellow retailer Mothercare.

According to the Sunday Telegraph Matt Smith will fill the chief financial officer role, which has been vacant since Simon Herrick left Mothercare in January.

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