Sunday newspaper round-up: The Restaurant Group, Severn Trent, Facebook

(Sharecast News) - The Restaurant Group, owner of the Wagamama chain, is under increasing pressure to break up after TMR Capital proposed last week to management that it sell all its brands save that one. TMR was the fourth activist shareholder to make the case for change. Under the plans presented by TMR, Restaurant group should then focus on expanding the chain before going private via a sale. The clash on strategy comes amid a surge in the cost of ingredients, energy and salaries. - The Sunday Telegraph

Severn Trent and United Utilities are facing pressure to reduce their dividend payouts and bonuses in the wake of public consternation at the dumping of millions of tonnes of sewage into rivers and seas. In the case of United Utilities, the payouts are set to rise by 5% to £310m despite estimates pointing to losses at the water company as interest rate costs increase. Severn Trent meanwhile was expected to see its profits more than halve for the same reason. - Financial Mail on Sunday

An Irish regulator is planning to levy a £648m fine on Facebook, possibly as soon as Monday, and to order the social media giant to stop transferring data from its European users to the US. Facebook owner Meta was however expected to be granted a grace period to comply with the ruling from Ireland's Data Protection Commission. That could push the suspension of data transfers into the autumn and the company was expected to appeal. Furthermore, the US and EU have already agreed a new data transfer agreement at the political level, so that any suspension would be rendered meaningless. - Guardian

Legal & General Investment Management is at the fore of a revolt among McDonald's shareholders over the fast food giant's "overuse" of antibiotics and mass meat production. The asset manager was planning to table a resolution at the chain's annual meeting during the forthcoming week calling on it to institute WHO guidelines on drug use in its supply chain. The fear of those shareholders is that the company is fueling antimicrobial resistance which could lead to resistant superbugs in humans. Estimates are that AMR might cause £800m of economic damage by 2050. - Financial Mail on Sunday

Ministers are planning to scrutinise financial watchdogs more closely and to increase accountability for the decisions that they take in a bid to speed up the City of London's growth by adding an extra layer of independence to the framework for regulatory oversight. During the coming week, the Treasury would table an amendment to the Financial Services and Markets Bill that would give more powers to the Financial Regulators Complaints Commissioner, which supervises the FCA, PSR and PRA, with the Treasury being given the power to select the FRCC's chief. - The Sunday Times