Sunday newspaper round-up: Rolls Royce, Food and fuel shortages, Morrisons

Rolls Royce may be set to rake in “billions of pounds” worth of orders for miniature nuclear power stations from countries in Eastern Europe, the head of green investment fund IP3 said. The fund’s boss, Mike Hewitt, told the newspaper that nations including Poland, the Czech Republic, Latvia, Hungary, Estonia, and Bulgaria all had aggressive plans to go nuclear. For its part, the company said it was talking to interested parties about export opportunities, including in Europe. It has also secured £210m of funding from the private sector for its small modular reactor programme in the UK. That will unlock the same amount of funds from the government with an announcement expected imminently. – Financial Mail on Sunday
It may take months for supply chains to return to normal, the Prime Minister suggested on the first day of the Conservative Party’s conference in Manchester. Faced with the possibility of food and fuel shortages until Christmas, Boris Johnson vowed to keep “all options on the table” to fix the situation. In remarks on the BBC’s Andrew Marr show, Johnson backed the warning from the Chancellor that disruptions could last until Christmas but then added that “it depends how you interpret what he is saying.” – Sunday Times

Clayton, Dubilier&Rice has come out on top from the three-month bidding war to take over Morrisons. Its 287p per share offer trumped the 285p on the table from a consortium led by fellow US private equity outfit Fortress, although it was below the 297p price at which the stock closed on Friday. Sir Terry Leahy, an adviser to CD&R is expected to be named chairman of Morrisons, where he will work with its current boss, David Potts, who served under him at Tesco. – The Sunday Times

Britons purchasing Apple’s newest iPhone models face as many as six weeks of delays due to shortfalls in supplies of critical components and amid spiraling costs around the world which are hurting businesses. Customers purchasing models of the iPhone 13 Pro through Apple.com may need to wait until 9 November to take delivery, according to the website. All models of the iPhone 13 Pro Max were sold out on Currys and on mobile networks such as EE some models were out of stock. – Sunday Telegraph

Tens of thousands of investors who lost a part of their savings when the multibllion pound investment fund, Woodford Equity Income, was wound up, may be forced to wait for three years before receiving compensation, unless the regulator steps in. According to Boz Michalowska, a partner at Leigh Day, the law firm suing Link, the authorised corporate director for the fund. “It’s why we have started the process now, so Woodford investors won’t have to wait any longer,” she told Wealth last week. – Financial Mail on Sunday

Britons’ gas bills may be headed still higher after Chinese vice-premier, Han Zheng, instructed the country’s energy firms to ensure there was sufficient fuel to keep the country running. China told its state-owned companies “to do whatever it takes” to secure supplies. Bjarne Schieldrop, an analyst at SEB, said: “to me implies that we are in no way on the verge of a cool-off. Rather it looks like it is going to get even more crazy.” Despite Britain’s large North Sea gas resources, the country has become dependent after decommissioning most storage facilities. – Guardian

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