Share Tips, Bids and Rumours
ChemChina closes in on another prize purchase: Once Ren Jianxin has an acquisition target in his sights, he does not let go of it easily. Months after the head of China’s largest chemicals company failed in a bid for Syngenta, which valued the Swiss agribusiness at $42 billion, ChemChina is reportedly closing in on a higher offer.
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Johnson Controls closes in on $20 billion Tyco acquisition: Johnson Controls is close to buying Tyco International for up to $20 billion in a purchase that would allow the Milwaukee-based manufacturer to slash its tax bill through an “inversion” deal that moves its domicile from the U.S. to Ireland.
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Newspaper Summary
The Times
French get on track to build trains for HS2 line: Competition to win the £4 billion contract to build superfast trains for the HS2 rail line has been blown open by a promise from Alstom, the French industrial giant, to bring rolling stock production back to Britain if it wins the tender.
Warnings soar to their highest since global crisis: Profit warnings from listed U.K. companies hit a seven-year high during 2015, as big business felt the fallout of upheaval in the global economy.
Whistleblowers ‘betrayed’ by FCA: The Financial Conduct Authority has been accused of betraying the confidence of whistleblowers by passing on evidence and sensitive information to the high street banks that were the subject of their complaints.
Fresh Owners for Bakkavor Group: An American hedge fund has invested more than £100 million in Britain’s biggest fresh food supplier.
Would-be buyers to catch early glimpse of Williams & Glyn: Royal Bank of Scotland hopes to kick-start the auction of its Williams & Glyn division by publishing full accounts for the small business bank alongside its own figures.
Private equity sells Charter Court bank: Another challenger bank has been put up for sale by its private equity Owner with a price tag of up to £500 million, making the latest attempt to tap investors’ appetite for new lenders.
Oil industry braces for more job cuts: More senior workers in Britain’s oil and gas sector are expecting job cuts than their colleagues elsewhere in the world, new research suggests.
Suppliers ‘routinely kept waiting by supermarkets’: Supermarkets are still routinely mistreating suppliers by paying bills late, despite government pressure for grocers to clean up their act, a study has revealed.
Old-style garages on a road to nowhere: Record U.K. car sales could spell the beginning of the end for many of the traditional independent, under-the-arches motor garages, as Owners of technologically advanced vehicles rely on the service centres of main dealers.
Duty stamps on £5 million-plus house sales: Average prices of £5 million-plus properties in London have dropped by almost 10% over the past year as higher stamp duty rates dampen demand for upmarket homes in the capital.
The Independent
George Osborne warned his ‘national living wage’ will spark job cuts: One of the world’s most respected experts on labour market economics has lambasted George Osborne’s imminent increase in the minimum wage and cast doubt on a key claim in David Cameron’s European Union reform drive.
Non-exec pay rises at slowest rate in 15 years: Fees paid to part-time non- Executive Directors (NEDs) on the boards of big companies have increased at the lowest rate for more than 15 years, a study by consultant PricewaterhouseCoopers will reveal.
Financial Times
Insolvencies at U.K. oil services groups jump: The financial grief inflicted by plunging oil prices has been laid bare by new research showing a sharp jump in the number of U.K. oil and gas service companies going insolvent.
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Tourist spending on Britain’s high streets rises 2%: Tourist spending on the British high street returned to growth last year despite volatility in China, a weak renminbi and political unrest in Nigeria and Russia.
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G4S considers exiting young offenders work in U.S. and U.K.: G4S is considering an exit from contentious work looking after young offenders in the U.K. and the U.S. after a series of scandals.
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War and strife have cost Libya $68 billion in lost oil revenues: Libya has forgone more than $68 billion in potential oil revenues since 2013 amid a power struggle between rival factions that has brought the energy industry to a near standstill and wrecked the economy.
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George Osborne handed plan for £300 million local government pension cuts: The 89 investment funds that make up the U.K.’s Local Government Pension Scheme have presented Chancellor George Osborne with a blueprint on cutting £300 million from their annual costs.
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U.K. farmland prices head back to earth: After a long and spectacular run, during which it has outperformed gold and Mayfair houses, the price of farmland is starting to head back to earth.
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Twitter faces fresh management shake-up: Twitter is facing the greatest upheaval in its top ranks since Jack Dorsey returned to lead the internet company last year, with the departure of three senior Executives and the imminent appointment of two new board members.
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U.S. East Coast digs out from winter storm: Cities along the east coast of the U.S. were digging out on Sunday after a near-record snowfall that left 19 dead and a backlog of delayed flights.
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Lex:
Cathay Pacific: prickly hedges: Last week, Hong Kong’s Civil Aviation Department said that, from February, airlines will no longer be permitted to levy the fee (currently $14 and $3 for long and short-haul flights, respectively) on flights originating from Hong Kong. The move comes as the oil price languishes at its lowest levels in over 12 years.
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The Daily Telegraph
Saudis ‘will not destroy the U.S. shale industry’: Hedge funds and private equity groups armed with $60 billion of ready cash are poised to snap up the assets of bankrupt U.S. shale drillers, almost guaranteeing that America’s tight oil production will rebound as soon as prices start to recover.
HSBC could decide this week whether to stay in U.K.: HSBC is poised to make a decision on whether it will stay in the U.K. as early as this week, The Daily Telegraph has learnt.
Tesco abandons attack on sandwich market by closing ‘Food to Go’ stores: Tesco’s attempt to squash Pret in the sandwich market has ended with a retreat by Britain’s biggest supermarket after it admitted customers were not interested.
Davos 2016: raise wages to smash Japanese ‘deflationary mindset’, says economy Minister: Japan’s economy Minister has issued a plea for companies to raise wages this spring to smash the “deflationary mindset” that still grips the nation.
Ex-Ofcom Boss says no to being new Chief of City watchdog: Former Ofcom Chief Ed Richards has ruled himself out of the race to become the next Chief Executive of City regulator the Financial Conduct Authority, the Telegraph understands, further narrowing the field of candidates to take over from ousted Boss Martin Wheatley.
Ariadne Capital launches new fund to battle ‘subprime unicorn’ trend: The Boss of Ariadne Capital has launched a new £150 million fund, which wraps in a consultancy service to help technology start-ups generate sustainable revenue from for large corporates, to prevent the creation of further “subprime unicorns” – companies that are worth more than $1 billion in terms of money raised, but have failed to make decent sales.
British cyber start-ups targeted by $350 million investment fund: British cyber security start-ups are being targeted by American venture capitalist Paladin as it seeks to invest $350 million.
The Guardian
Unilever says its 7,500 U.K. jobs will not suffer in case of Brexit: Unilever, the consumer goods group behind Persil and Magnum ice-creams, has said it will not scale back its U.K. operations if Britain votes to leave the EU.
Brexit fears are fuelling market turmoil, says IMF Chief: Fears of a British exit from the European Union are adding to the list of concerns causing turbulence on global financial markets, the IMF’s managing Director Christine Lagarde said on Saturday.
Adidas to end sponsorship of IAAF over doping scandal – reports: Adidas has written to the IAAF to inform athletics’ embattled governing body it is terminating its sponsorship deal three years early, according to reports.
Europe’s big banks remain wary of doing business with Iran: A week after the lifting of sanctions against Iran, major European banks are still reluctant to handle Iranian payments as they remain wary of being the first to test the reaction of U.S. authorities.
U.K. GDP figures to be released amid global economic jitters: The resilience of the British economy in the face of stuttering global markets will be tested this week, with the publication of official U.K. growth figures due on Thursday.
‘Cheap’ Google deal sets bad precedent, says tax expert: The U.K. risks undermining an international clampdown on tax avoidance if it signs more deals like the agreement with Google to recover £130 million in back taxes, a tax expert has warned.
Daily Mail
Iran expected to sign contract this week to buy 114 Airbus planes in boost to British manufacturing: Iran is expected to sign a contract this week to buy 114 Airbus planes in a boost to British manufacturing.
McLaren planning to more than double sales as demand for its supercars soars: McLaren is planning to more than double sales as demand for its supercars soars.
Cost of producing oil is threatening to overtake what it can be sold for: The cost of producing oil is threatening to overtake what it can be sold for.
George Osborne poised for fresh blow this week as figures show British economy is not as strong as expected: George Osborne will be dealt a fresh blow this week as figures show the British economy is not as strong as expected.
Daily Express
Underlying dividends at record high in the U.K.: Dividends in the U.K. reached £87.6billion last year, with underlying dividends at a record high, according to a report.
The Scottish Herald
Scottish booking systems specialist aims to create 200 technology jobs as it targets rapid growth: A Scottish provider of booking systems for major travel and hotel businesses aims to raise millions of pounds of equity to help fund ambitious plans to create 200 technology jobs.
Sky expected to post rise in interim profits despite competition from BT: The City will look to see if broadcaster Sky can continue to add customers under increasing competition from rival BT, and will find out whether Dixons Carphone was a retail winner or loser over Christmas.
Glasgow funeral firm takes grieving process online as it plans acquisitions: FUNERAL Director Anderson Maguire has underlined its interest in acquisitions as it launched a service that will allow people to harness internet technology to help commemorate people who have died.
Old Pulteney producer Inver House Distillers targets new export markets after £10 million investment: OLD Pulteney and Balblair producer Inver House Distillers is targeting new export markets after investing £10 million to increase its maturation and production capacity, writes Ian McConnell.
Surge of deal activity expected in oilfield sector: The Oilfield services industry expects a surge of merger and acquisition activity in 2016, and is basing five-year strategy on an expected oil price of $60 to $80.
The Scotsman
Shareholder green light expected for Shell BG merger: Major investors are expected to back Shell’s troubled £36 billion takeover of rival BG Group this week despite reservations that the plunging oil price has made the deal less attractive than when first unveiled last year.
PwC buys Edinburgh cyber-security firm Praxism: Accountancy major PwC is expanding its cyber-security practice with the acquisition of Praxism, an Edinburgh-based consultancy specialising in identity and access management.
Mountain Warehouse warms to the idea of flotation: Outdoor leisurewear retailer Mountain Warehouse is mulling a stock market flotation that could crystallise a multi-million pound fortune for Founder and majority Owner, Mark Neale.
City A.M.
Astbury Marsden warns City workers face bonus shock this year: City workers are anticipating bumper bonuses this season, but recruitment experts have warned that they could be in for disappointment. Two thirds of employees are expecting a hefty bonus payout, according to a survey published by Astbury Marsden this morning.
Oil price fall set to drag down U.K. dividends: The collapse in oil and commodity prices took its toll on U.K. dividends last year as companies began to feel the bite of the price slump, with the worse expected in 2016.
The Co-operative Group kicks off hiring spree for members’ council: The Co-operative Group has embarked on a recruitment drive to find 24 candidates to join the representative body for its eight million members.
U.K. retailers prove a hit with shoppers overseas as smartphone browsing soars: The number of international shoppers using their smartphones to browse for U.K. brands has jumped over the last quarter, new research shows, as growth on mobile devices continued to outstrip tablets.
Finance jobs in London expected to increase in first half of 2016 but Executives already worried about skills shortages: The capital is likely to see a rise in jobs on offer during the first half of 2016, but Executives are already fretting over how to find the right calibre of finance staff to fill their vacancies.
EU referendum: Virgin Money Chief Executive Jayne-Anne Gadhia says Brexit would lead to fewer jobs and less prosperity: Virgin Money Chief Executive Jayne-Anne Gadhia became the latest big business Boss to wade in the European Union debate over the weekend when she came out in favour of the U.K. remaining in the EU.
