The Times
Global fears as markets lose faith in central banks: The global economy is heading for a storm as faith in policymakers dwindles, according to a stark warning from one of the world’s most respected financial institutions.
Stock Exchange Boss could net £16 million after Deutsche Borse deal: The Chief Executive of the London Stock Exchange could receive almost £16 million if he pulls off a sale to Deutsche Borse.
Britain needs O2 deal for its health, says top scientist: Blocking Three’s takeover of O2 would hold back medical research by preventing Britain from reaping the benefits of the digital revolution, one of the biggest names in bioscience has claimed.
Ex-Barclays Boss Antony Jenkins talks funding with old foe: The man ousted as Barclays’ Chief Executive has held fundraising talks about a new venture with an adviser to Middle Eastern royalty who is suing the bank for almost £1 billion.
Old Mutual may go back to South Africa: Old Mutual is preparing for a shake-up that may lead to its British wealth management business being sold and the group headquarters relocated to South Africa.
Public warning for Ministers heading into private sector: The watchdog that monitors jobs taken by former Ministers and senior civil servants is to name and shame those who fail to seek approval before accepting potentially lucrative roles in the private sector.
Climbdown on pensions relief wins approval from insurers: Insurers and fund Managers have cheered the Chancellor’s U-turn over pension tax relief, but have warned that he is merely postponing changes.
No frills means the wheels are coming off for estate agents: The number of estate agents going bust has increased, with a 16% rise in annual insolvencies.
Pollution targets pose new test for Volkswagen: Volkswagen suffered a fresh blow when it was claimed that the German carmaker could be fined €1 billion for falling short of new pollution targets.
The Independent
Local employers take fight to Gatwick over second runway plan: Gatwick airport’s claims that a £7.8 billion second runway would boost business and create 120,000 jobs have been challenged by Owners of local companies who fear expansion could damage them badly.
Mark Brown: Stockdale Securities Boss warns on boom or bust year for brokers: This year will be boom or bust for London’s stockbrokers amid punishing market conditions, a City broker has warned.
Female retail Bosses fall out of fashion: The number of female Chief Executives appointed at U.K. retailers fell by 40% last year despite pressure to improve the number of women in senior positions, according to a new report.
Financial Times
FTSE 100 companies give less to charity: Charitable donations by the U.K.’s largest companies have fallen sharply, with cuts by a few large donors having the greatest impact, according to new research.
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North Sea explorers in talks to merge operations: North Sea oil producers are in talks to put aside their commercial rivalries and collaborate on an unprecedented scale as they look to slash costs amid some of the toughest market conditions the sector has ever faced.
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G4S set for more losses on asylum seekers: G4S, the world’s biggest security company, is expected to reveal widening losses on its work housing asylum seekers in Britain this week, undermining its battle to draw a line under a scandal-ridden three-year period.
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Low interest rates force pensions rethink for U.K. plc: Low interest rates are forcing British companies to find more inventive ways of dealing with their pension schemes.
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ArcelorMittal Chief bullish on steel sector despite price woes: The global steel industry is poised for a recovery, says the head of the world’s biggest steelmaker, who believes market conditions will pick up as China starts to shut factories.
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TalkTalk hacking report flags up need for revamp of group: An investigation into the high-profile hack on TalkTalk has revealed the need for systemic changes to the organisation of the telecoms group, and highlighted that other companies are in similar danger.
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PwC launches online market place to tap into ‘gig economy’: PwC, the world’s biggest professional services firm, has launched an online market place matching freelancers with internal projects, as its new global Chairman seeks to ride a global trend towards a “gig economy”.
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Department stores bask in glow of Japan’s negative rates policy: One month on from the Bank of Japan’s decision to unleash negative interest rates on the world’s third-biggest economy, something strange is happening at the nation’s department stores.
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Oscar Munoz to return as United Continental Chief: United Continental Chief Executive Oscar Munoz, who suffered a heart attack soon after being thrust into the role, plans to return to full-time duty next week, the company said.
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Lex:
U.S. high yield: back in the game: In late 2015, a handful of high-yield mutual funds faced liquidity problems as investors, fretting about defaults from commodity companies, wanted their money back.
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The Daily Telegraph
Downfall of Brazil’s Lula marks end of Brics fantasy: The dream of a Brics ascendancy has ended in sadness and squalor after the iconic figure of the era was seized by police at his home here, to the rapturous applause of Brazil’s stock exchange.
EDF finance officer resigns over Hinkley Point project: Thomas Piquemal, the finance Director of French energy giant EDF, has resigned over the company’s plan to build two nuclear reactors in Hinkley Point, a source familiar with the situation said.
Bricks and mortar entertainment stores surge to record high: The number of physical stores selling music, films and games has surged to a record high as non-specialist vendors such as supermarkets, beauty shops and clothing retailers stock up on entertainment products.
Getting more women into work could boost U.K. GDP by 9%: Increasing female participation in the British labour force to match the level reached in Sweden could add £170 billion to the U.K. economy and boost GDP by 9%, according to PwC.
High street’s struggles leads to leap in new retail Bosses: Britain’s retailers experienced a year of major upheaval in 2015 as turmoil in the sector led to a 41% rise in the number of new Bosses.
Pension funds to splurge on hedge funds, private equity and infrastructure: British pension funds are splashing out on alternative investments such as hedge funds, private equity and infrastructure as they try to find new sources of income for savers, according to a study from State Street.
The Guardian
John Longworth resigns as commerce Boss over Brexit: The leader of one of the U.K.’s biggest business groups has resigned from his job after being suspended for expressing his support for a British exit from the European Union.
Gender pay gap: women earn £300,000 less than men over working life: Women are likely to earn £300,000 less than men over their working lives, according to a new analysis that has sparked fresh calls for more shared parental leave to close the U.K.’s stubborn gender pay gap.
Npower to cut up to 2,500 jobs in U.K. and overseas: Npower, one of Britain’s largest energy companies, is expected to announce up to 2,500 job cuts in the U.K. and overseas this week after being blighted by an exodus of customers, turbulent world energy markets and embarrassing customer billing problems.
Grexit back on the agenda again as Greek economy unravels: European finance Ministers will once again deliberate over how to treat Greece’s ongoing debt crisis this week despite the country desperately grappling with refugees pouring across its borders.
Daily Mail
‘Reckless’ bankers to face seven years’ jail as new law comes into force: Senior bankers now face up to seven years in jail if their business fails and they are found guilty of ‘reckless misconduct’.
India’s diamond king Nirav Modi brings his sparkle to Britain as it opens a store on Bond Street: India’s billionaire diamond king is bringing his sparkle to Britain with a store on Bond Street, London’s most expensive shopping district. Nirav Modi, 45, launched his jewellery business, Firestar Diamond, more than a decade ago, and it has since become a firm favourite among celebrities.
Mark Carney warned to keep out of EU row as he is set to face quiz by MPs over costs and benefits of membership: Mark Carney was warned not to take sides in the debate over Britain’s future in the European Union.
Daily Express
Brighter outlook ahead for manufacturing firms: Manufacturing companies are showing signs of recovery, with orders stabilising and predictions of growth in the next few months, according to a new report.
The Scottish Herald
Whisky export boom fuels growth at Glencairn Crystal despite China downturn: Glencairn Crystal is on course to achieve another year of strong growth as the whisky firms it supplies with decanters achieve continued success overseas despite widely reported problems in China.
Low productivity throttling wage growth, report finds: Declining productivity in Scotland is now impacting wage growth as output declines while employment rises, according to the latest Business Trends Report by accountants and business advisers BDO.
The Scotsman
Longniddry firm launches mobile ad display venture: A new Longniddry-based business called “Mad Ads” (Motion and Digital Ads) launches this week by unveiling eye-catching trucks with display units showing mobile advertising pictures similar to those seen at televised premiership football matches.
Debt-laden North Sea producer EnQuest hires Rothschild as advisers: North Sea explorer EnQuest is poised to hire blue-chip investment bank Rothschild as retained advisers on its £1 billion debt mountain against the backcloth of the oil price slump.
American giant CME weighs potential bid for Deutsche Boerse: The Chicaco Mercantile Exchange (CME) is poised to become the second American markets giant threatening to gatecrash the proposed £20 billion merger of the London Stock Exchange (LSE) and Deutsche Boerse of Germany.
City A.M.
Clothing brand Jigsaw explores a sale after holding talks with advisers: The Owners of British fashion label Jigsaw have held talks with financial advisers about a possible sale of the business.
Hilton Worldwide unveils plans for £76 million hotel in the City: Hilton Worldwide has unveiled plans to launch a new hotel in the City after striking a franchise agreement with the developer of the £76 million scheme.
South African retailer Foschini eyes fashion chain Whistles: Another South African company could soon step up its presence in the U.K. retail industry, this time with upmarket high street brand Whistles as the target.
City lobby group warns on risk of emerging market slowdown: The Boss of City lobby group TheCityU.K. has warned that slowing emerging markets pose a rising risk to London’s financial sector.
Oil eyes yearly price highs despite U.S. stockpiles rising, and denials Opec will cut production: The price of oil is set to record fresh highs for 2016 this week, despite comments from the Saudi Arabian oil Minister that the de facto Organization of the Petroleum Exporting Countries (Opec) leader will not cut its production and stubbornly high reserves of oil in the U.S..
Economists at the Bank for International Settlements warn negative interest rates come with risks: The experimental policy of negative interest rates has come under fire from a top financial watchdog.
Lloyds share price bounce back prompts sale restart speculation: A rebound in the value of Lloyds Banking Group shares has sparked speculation the sale of the remaining government stake could still happen this year.
