FUND management guru Neil Woodford fears the stock market faces years of turbulence amid political uncertainty, the Sunday Telegraph reports.
Mr Woodford cited the prospect of a weak government taking power after next month's general election, a fresh vote on Scottish independence and a possible referendum on EU membership as concerns. He managed portfolios worth £33 billion at Invesco Perpetual.
The paper reckons the planned flotation of the Hastings Direct car insurance business could result in pay outs of up to £41,000 to employee shareholders at the Sussex-based firm. The float is expected to value the business at up to £1 billion.
The Sunday Times reports that food giant Kellogg has warned that its profits could be cut by planned changes in the way multinationals are taxed. It notes that in the US giant's latest annual report Kellogg says: "Contemplated changes in the UK and other countries of longstanding tax principles, if finalised and adopted, could have a material impact on our income tax expense."
The paper says a hospitality chain favoured by pop star Rihanna is planning a £100m flotation.
It says Elegant Hotels, which runs five resorts in Barbados, is expected to list on the Aim market in the next few months. The business is reported to be working with advisers at Zeus Capital on the flotation.
The Mail on Sunday reports that former TV dragon James Caan has stepped down as chairman of the Start Up Loans Company, which lends public money to entrepreneurs. Mr Caan said his time in post had been the best three years of his life. He is immensely proud of what has been achieved by the company to date. The company has backed 27,000 businesses.
The Sunday Herald notes that the Linlithgow-based Paul Bradford Sugarcraft School has signed up 140,000 global members for its online cake icing lessons. The paper says the company is to launch a push for renewed growth after striking gold in the USA. It aims to triple its current £1 million turnover.
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