Press round-up
Press round-up from ShareCast
Sunday newspaper round-up: Darktrace, National Insurance, Royal Mail
(Sharecast News) - An aura of mystery continues to linger over whether the biggest of Darktrace's shareholders are prepared to support Thoma Bravo's £4.2bn takeover. Among those is Mike Lynch, who is currently facing trial in the US over fraud claims linked to executive search software outfit Autonomy. Also unclear is the position of the Darktrace Employee Benefit Trust, which owned just under 8% of the company's shares. The trust is managed by Equiniti, which has nothing to do with the decision. - The Financial Mail on Sunday
Uncertainty around the public accounts has led to the Chancellor weighing whether to hold another tax-cutting autumn statement before the next election. Jeremy Hunt had already indicated that he intended to further cut national insurance before the general election. Plans for additional taxes may now however be pushed into the next Tory manifesto. Senior Tories are also said to have been exasperated by the absence of any improvement in the polls after the reduction to employees' national insurance contributions. - Guardian
Daniel Kretinsky, the Czech billionaire investor that is attempting to purchase Royal Mail, has committed to zero job cuts if he succeeds, nor will he split Royal Mail's parent company. Sources familiar with his thinking also say that he wants to keep its investment grade credit rating. Kretinsky's EP Group is preparing to table a fresh bid for Royal Mail before the 15 May deadline under City takeover rules. - The Sunday Telegraph
David Lloyds Leisure will splurge £500m on the construction of 15 new gyms over the next three to four years, together with 50 new spa resorts over the next six years. The plans are a recognition that people are willing to make health and fitness a priority in the post-Covid world. According to the company's chairman, Glenn Earlam, customers were happy to pay a £100 a month in membership dues despite the cost of living crisis. Indeed, membership levels were benefitting from the growing "working from club crowd" and recently hit a record 761,000. - The Sunday Times
Uncertainty around the public accounts has led to the Chancellor weighing whether to hold another tax-cutting autumn statement before the next election. Jeremy Hunt had already indicated that he intended to further cut national insurance before the general election. Plans for additional taxes may now however be pushed into the next Tory manifesto. Senior Tories are also said to have been exasperated by the absence of any improvement in the polls after the reduction to employees' national insurance contributions. - Guardian
Daniel Kretinsky, the Czech billionaire investor that is attempting to purchase Royal Mail, has committed to zero job cuts if he succeeds, nor will he split Royal Mail's parent company. Sources familiar with his thinking also say that he wants to keep its investment grade credit rating. Kretinsky's EP Group is preparing to table a fresh bid for Royal Mail before the 15 May deadline under City takeover rules. - The Sunday Telegraph
David Lloyds Leisure will splurge £500m on the construction of 15 new gyms over the next three to four years, together with 50 new spa resorts over the next six years. The plans are a recognition that people are willing to make health and fitness a priority in the post-Covid world. According to the company's chairman, Glenn Earlam, customers were happy to pay a £100 a month in membership dues despite the cost of living crisis. Indeed, membership levels were benefitting from the growing "working from club crowd" and recently hit a record 761,000. - The Sunday Times
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