Britain’s biggest housebuilder has started testing its construction workers for illegal drugs amid rising fears about substance abuse. Barratt Developments (BDEV) has introduced random tests for drugs and alcohol across its sites and has ramped up its focus on health and safety after its injury rate jumped by more than a fifth last year. According to a statement buried in its annual report, the selection of those to be tested will be on a random basis.
Did Murdoch lure Comcast to overpay for £30bn Sky? Comcast has won with a knockout bid. Its final offer for Sky (SKY) had raised eyebrows – almost £3 billion higher than Murdoch’s 21st Century Fox, which still owned 39% of Sky. Had Comcast’s crack team, led by the highly rated Sir Simon Robey, been seduced into overpaying? ‘Yes,’ is the blunt response from one experienced investment banker who has previously dealt with Murdoch whose stake is now owned by Disney – in which his family owns 7% of the shares. ‘They [the Murdochs] would never admit it but it’s the natural thing to do if you are sitting on both sides of the trade,’ he said.
Legal firm Vannin Capital faces delays in its attempt to float as it claims it’s still owed £14m from the Royal Bank of Scotland Group (RBS) scandal. But it has been forced to delay publishing its prospectus after telling investors it expects to lose several million pounds on a case it is funding against Costa Rica. Vannin is also caught up in the legal mess over the RBoS Shareholders Action Group. The 7,000 investors who signed up to the group won a £200 million settlement from Royal Bank of Scotland in June 2017.
Tesco (TSCO) CEO Dave Lewis can celebrate with a £800m profit in the pipeline as Sainsbury’s boss Mike Coupe sweats over his plan for Asda merger. Tesco’s chief executive Dave Lewis is poised to unveil stellar profits this week – in a striking contrast to his main rival, Mike Coupe of Sainsbury’s, whose plan to merge with Asda has received a major blow. Tesco is expected to say on Wednesday that its profit in the first half rose 41% to £815 million. Analysts now believe the supermarket, which recently launched a chain called Jack’s to challenge Aldi, could make almost £2 billion by the year end.
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MIDAS SHARE TIPS: New Brexit rules could give 30-year-old freight firm Xpediator (XPD) a lift. MIDAS VERDICT: Blyth is hoping to turn Xpediator into a top 25 global freight forwarder with a share price significantly higher than it is today. Like many fast-growing firms, this is not a stock for the cautious. But for adventurous investors, the shares, at 64½p, are worth a punt.
