Monday newspaper round-up: Greece, Carphone Warehouse, RBS

10th Aug 2015 07:02

(ShareCast News) - Greece is closer to unlocking a fresh €86bn (£61bn) rescue package after the country's creditors reportedly agreed on a draft deal this weekend. German and Greek media said 27-pages of "substantial" and "far-reaching" reforms had been agreed following marathon talks between Euclid Tsakalotos, Greece's finance minister, and the country's creditors on Saturday. - The TelegraphThe privacy watchdog has been called into to investigate the theft of personal and banking details of up to 2.4 million people from Carphone Warehouse. The Information Commissioner's Office (ICO) said it was looking into the incident. It has powers to impose a fine of up to £500,000 on companies with inadequate data protection. - The TelegraphHinkley Point, the planned £24.5bn nuclear power station in Somerset, is under intensifying criticism from the energy industry and the City, even as the government prepares to give the final go-ahead for the heavily subsidised project. The plant, due to open in 2023, will cost as much as the combined bill for Crossrail, the London 2012 Olympics and the revamped Terminal 2 at Heathrow, calculated Peter Atherton, energy analyst at investment bank Jefferies. He said that, for the same price as Hinkley Point C, which will provide 3,200MW of capacity, almost 50,000MW of gas-fired power capacity could be built. - The GuardianRoyal Bank of Scotland is preparing to hand out shares worth an estimated £2.5m to its 10-strong management team. The payouts come a week after the government took the first steps since the 2008 taxpayer bailout to begin reducing its stake, which has fallen from 79% to just below 73% as a result. Ross McEwan, the chief executive, is poised to receive the last tranche of the 1m shares he was awarded in August 2012 when he was hired from Commonwealth Bank of Australia. - The GuardianContracts worth £7bn for the tunnels and viaducts for HS2 are about to be put out to tender, despite continuing uncertainty over the project's future. At least eight consortiums of Europe's largest construction companies will compete for the civil engineering work for the first phase of the proposed north-south high-speed railway line through the Chilterns to Birmingham. - Financial TimesWarren Buffett's Berkshire Hathaway is closing in its biggest acquisition as it negotiates a deal worth about $30bn to buy Precision Castparts, an aerospace equipment maker, people familiar with the matter said. The conglomerate controlled by the Omaha millionaire could agree the terms of a deal this week, said one person, who warned the transaction could still fall apart. - Financial TimesThe chairman of Quindell is under pressure after it emerged that he and a non-executive director were paid almost £4million in fees for selling its legal division. Richard Rose was employed as a consultant by the scandal-hit insurance claims processor before his appointment as chairman in January. - Daily Mail