The Times
Million shop jobs at risk from higher pay and tax: Nearly one million jobs could be lost in Britain’s struggling retail sector during the next decade as shops close and businesses struggle to meet higher wage bills and taxes.
Sky lends its support for Three’s O2 takeover: The Chief Executive of Sky has publicly backed Three’s takeover of O2 despite regulatory objections to a deal that will reduce the number of mobile networks in Britain from four to three.
Billionaire Beijing overtakes New York: China’s once red-hot economy, the second largest in the world, cooled further over the past year, and nearly $5 trillion was cut from the value of its volatile stock markets.
Glencore renegotiates Chad oil deal after prices plunge: Glencore has renegotiated a $1.5 billion oil deal with Chad that it struck just before crude prices began their precipitous slide in 2014.
Travelodge halts £1 billion auction of budget hotels as offers fall short: The Boss of Travelodge conceded last night that an estimated £1 billion auction of Britain’s second biggest budget hotel chain had been put on ice.
The Independent
Poundstretcher sued for ‘selling fake bottles of Head & Shoulders shampoo’: Consumer products group Procter & Gamble files for damages over alleged copyright infringement in 2013-14.
New apprentices’ levy is nothing to fear, says Business Secretary Sajid Javid: Companies have nothing to fear from the introduction of a controversial apprenticeship levy, according to the Business Secretary.
MPs tell Government to take control of ONS: The Office for National Statistics (ONS) should come under the supervision of the Treasury because the Chancellor’s department has “skin in the game” when it comes to the production of accurate economic data, the Treasury Select Committee (TSC) will recommend.
Financial Times
New JKX Chief looks to settle Ukraine lawsuit: The new head of JKX, the London-listed oil and gas company whose Directors were ousted last month, says it wants to resolve its legal case against the Ukrainian government.
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GSK to start search for Andrew Witty’s successor: GlaxoSmithKline is gearing up to begin a formal search for its next Chief Executive as Sir Andrew Witty’s eight-year tenure enters its final stages.
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BlackRock bets against struggling competitor Aberdeen: BlackRock, the world’s largest fund Manager, has bet against the share price of struggling competitor Aberdeen Asset Management ahead of the Scottish investment group’s expected fall out of the FTSE 100.
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Anglo American eases Executive bonus target: Anglo American has cut a key performance target, making it easier for Chief Executive Mark Cutifani and other top staff at the miner to earn a share of their annual bonuses.
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Anshu Jain to join online lender SoFi: Anshu Jain, the former co-Chief Executive of Deutsche Bank, is to join online lender SoFi as an adviser in his first venture since he left Germany’s biggest bank at the end of last year.
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Starbucks takes the Americano to the home of caffe: The American chain is to open its first shop in Milan next year, fulfilling what Chief Executive Howard Schultz called a 30-year dream.
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Qantas Boss urges Britain to vote to stay in the EU: Qantas Boss Alan Joyce has urged Britain to vote to stay in the EU, saying U.K. membership in the union is good for trade and leaving could create complications for cross-border businesses.
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Lex:
Diageo/United Spirits: warning signs: In 2012, when emerging markets were still fashionable, it concluded a deal with Vijay Mallya to buy a 25% stake in United Spirits, a Mumbai-listed company controlled by Mr Mallya. It subsequently raised its stake to 55%, for a total cost of around £1.8 billion.
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The Daily Telegraph
Mervyn King: the Eurozone is doomed: The Eurozone is doomed to fail and will lurch from crisis to crisis unless it is broken up, according to the former Governor of the Bank of England.
U.S. shale frackers eye world conquest despite bloodbath: Dozens of indebted U.S. shale companies face annihilation over coming months as their hedge protection runs out and creditors pull the plug, but veteran frackers insist defiantly that the slump will not stop the industry’s march to world conquest.
Business leaders demand faster broadband after BT avoids break-up: Business leaders have criticised BT’s claims that its rivals have not wanted to invest in Britain’s broadband infrastructure as “disingenuous” and called on the Government to set more ambitious upgrade targets.
Blockbuster creditors to get £2 million extra in next six months: Creditors for video rental store Blockbuster are to receive an extra £2 million pay-out, as employment tribunal claims against the company are given the go-ahead to begin.
Google’s rival to Apple Pay due in Britain next month: Google’s rival to Apple Pay will make its British debut at the end of March, as the web giant attempts to muscle into the emerging mobile payments industry.
Poundworld’s Founder to quit after 40 years: The Founder and Chief Executive of high street discount chain Poundworld, Chris Edwards, is preparing to step down from the business after 40 years at the helm, saying: “I think it’s time for a rest.”
Emerging markets drive lifts Formula One’s value to $4.8 billion: The value of Formula One’s parent company accelerated to $4.8 billion according to a valuation carried out by minority stakeholder Ferrari.
RBS predicts all-clear over controversial small business unit: Royal Bank of Scotland believes it will be exonerated when City regulators conclude their investigation into the lender’s controversial Global Restructuring Group (GRG), the unit accused of mistreating small businesses.
The Guardian
Top lobbying group in historic green energy U-turn: The U.K.’s biggest energy lobbying group has shifted its position on green energy and will start campaigning for low-carbon alternatives for the first time, in what environmental campaigners are describing as a watershed moment.
Tax paid by FTSE 100 firms ‘falls by nearly a quarter since 2010’: FTSE 100 companies paid tax equal to 23% of their profits, almost a quarter less than in 2010, according to figures from accountants UHY Hacker Young.
Brexit would be bad for U.K., say world business leaders: International business leaders have urged the U.K. to stay in the European Union, warning of the complications that could follow a Brexit vote.
Millions of U.K. workers stuck in wrong job, study shows: Millions of U.K. workers are stuck in the wrong job or working fewer hours than they would like, according to a report warning that this army of underemployed people are blocking opportunities for those outside the labour market.
Starter home buyers could receive £141,000 windfall from taxpayers: The government’s starter homes initiative could deliver a taxpayer-backed windfall of £141,000 each to 200,000 lucky first-time buyers, but 2 million more aspiring homeowners will be stuck renting, campaigners say.
Ex-Barclays Boss to get large bonus despite being sacked: The former Chief Executive of Barclays is in line to receive a bonus worth half a million pounds, despite being sacked by the bank last summer.
Daily Mail
Broadcaster ITV finds its Voice… as profits soar 20% to £835 million: ITV is set to report a near 20% rise in profits for while looking forward to big audiences for its coverage of Six Nations rugby and football’s European Cup.
Holidaymakers hit by tumbling pound as Brexit fears and worries over the global economy take their toll: British families heading to United States face more expensive holidays as the pound tumbles against the dollar.
Daily Express
Low inflation and interest rates sees spending boost for U.K. households: Consumer spending grew at its fastest rate since the financial crisis – and the trend is set to continue this year, thanks to low inflation and interest rates and the forthcoming minimum wage rise.
HMRC aims at mother of two while continuing ‘soft’ treatment of Google: HM Revenue & Customs has been accused of driving a mother of two to the brink of ruin with its demands, in contrast to the “soft” treatment received by multinationals like Google.
LSE profits treble ahead of sell-off to German rival Deutsche Borse: The London Stock Exchange is set to unveil bumper revenues and profits alongside details of its likely sale to German rival Deutsche Borse at its full-year results on Friday.
The Scottish Herald
Loch Lomond Distillers invests for international expansion: Loch Lomond Distillers has highlighted major investment in production equipment, warehousing, bottling lines and a visitor centre, as well as a rise in its workforce, as it targets international growth.
Ice cream producer Mackie’s raises profits and pays staff bonuses: Ice Cream maker Mackie’s of Scotland has raised turnover and profits on the back of further success in the U.K. market and a hike in exports, enabling significant bonuses for its staff.
The Scotsman
Andy Murray serves up investment via crowdfunding platform: Scots tennis ace Andy Murray is making five early-stage investments in British entrepreneurs through equity crowdfunding platform Seedrs.
Britain in the ‘internet slow lane’: Business leaders accused the U.K. government of a “poverty of ambition” when it comes to broadband speeds, claiming Britain was lagging other developed nations on the roll-out of fibre optic cables.
City A.M.
Tottenham Hotspur’s investors can now look to score with Asset Match: Online shares marketplace Asset Match has announced that in response to interest from shareholders, it will host a series of share auctions in Premier League high flyers Tottenham Hotspur, starting in March.
Businesses in Marble Arch team up to launch improvement district: Businesses in Marble Arch and Edgware Road have backed plans to invest £2.5 million in sprucing up the west London area after launching a new business improvement district (BID).
Retailers John Lewis, Marks & Spencer, Home Retail Group, Kingfisher and John Lewis top list of offenders in late supplier payments: Britain’s five largest high street retailers were late in paying a shocking 80% of their invoices to suppliers, a major report has revealed.
Big data and the internet of things will add £322 billion and 217,000 jobs to the economy by 2020 – CEBR: Big data and the internet of things could add £322 billion to the U.K. economy by 2020, new research from industry analysts and economists reveals.
Financial sector leads professional job creation – Apsco: Landing a role in finance got easier in January as the number of vacancies soared 12% on the same month.
Mike Ashley’s Sports Direct faces relegation from FTSE 100 index: Sports Direct faces relegation from the FTSE 100 list when the blue chip index of top U.K. companies comes up for renewal next week, after a dismal performance this year.
AstraZeneca warned over bonus changes: Drug giant AstraZeneca is on course to fall out with shareholders at its April meeting after floating plans to lower the threshold for senior management bonuses.
JP Morgan traders were sacked over allegations they ignored compliance procedures: Investment bank JP Morgan Chase sacked two traders earlier this year because they allegedly circumvented the company’s compliance procedures.
