The Times
Safety flaw casts fresh doubt on Hinkley reactor: A nuclear power station being built in France using the same design earmarked for Hinkley Point in Somerset may have to restrict its output or could be abandoned because of the costs of correcting safety flaws, experts have warned.
Report on Gatwick ‘is 14 years out of date’: Gatwick renewed its attack on the government’s airports commission yesterday after it emerged that its forecasts were 14 years out of date.
Deliver reforms or lose bailout cash, Greeks told: Greece has been told by its Eurozone creditors to get back to work, stop missing deadlines and deliver on reforms. Failure to comply could result in yet another standoff, keeping lenders from releasing €2.8 billion that Athens needs to keep its economy afloat.
Regional falls blur picture on house prices: Every privately owned home in London built before 2006 has risen in value by more than 50%, while two million homes across the country have fallen in value, a study suggests.
Economy forecast to stall over the next two years: Weak spending and a slump in investment are likely to bring growth to a near standstill this year with weakness persisting until at least the end of 2018, according to a survey.
HS2 boss quits just as minister plots route: The Boss of HS2, the high-speed railway, is leaving just as a decision is due on the next phase of development.
Companies hurt by RBS pursue the regulator: Hundreds of businesses are threatening the City regulator with legal action because of delays to a long-awaited report into the activities of Royal Bank of Scotland’s restructuring unit.
Not so posh Tofs are on the march with new chairman: The former Boss of Matalan has been appointed as the Chairman of The Original Factory Shop as the retailer gears up for a flotation or sale.
Scots tidal firms need price advice to beat the world: Scotland’s tidal energy sector needs more clarity from the U.K. government if it is to maintain its world leading status, according the Director of energy and low carbon at Highland and Islands Enterprise.
Grid defends Holliday pay of £11,000 a week: National Grid has defended the pay of its outgoing Chief Executive, who is set to draw £11,000 a week in pension when he turns 60 next month.
Small suppliers learn to fly on the back of their giant clients: The aerospace industry is dominated by giants such as Airbus, Boeing and, in the U.K., Rolls-Royce and BAE Systems, but the big boys wouldn’t even get off the ground if it wasn’t for an army of small and medium-sized companies that make, repair and assemble their parts.
The Independent
Brexit: ‘Sharp slowdown in economic growth’ predicted amid post-referendum uncertainty, experts warn: A leading business group has slashed its forecast for economic growth amid predictions the U.K. faces a “sharp slowdown” following Brexit.
NHS says hospitals are at breaking point with patient safety at risk: Hospitals cannot maintain standards and will fail patients unless they are given more funding, NHS bosses have warned.
North Korea could face unilateral sanctions over nuclear tests, U.S. envoywarns: The United States has threatened to place new unilateral sanctions on North Korea, following the east Asian country’s fifth and largest nuclear test on Friday.
Financial Times
Koreans near investment in new Cumbrian nuclear plant: Korea Electric Power Corporation (Kepco) is in talks about joining the NuGen consortium planning a £10 billion plant at Moorside on the Cumbrian coast alongside existing Owners Toshiba of Japan and Engie of France.
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Lloyds shareholders demand succession plan: Large shareholders in Lloyds Banking Group are calling on the high street lender to strengthen its internal succession plan and address a perceived overreliance on chief executive António Horta-Osório.
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Green Investment Bank bidders ready final offer: Two bidders will submit their final offers on Monday to buy the Green Investment Bank, with the British government hoping to raise £2billion.
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New Age takes first steps towards stock market debut: New Age, an Africa-focused oil explorer backed by Och-Ziff, the U.S. hedge fund, is considering an initial public offering that would put it among the U.K.’s biggest independent oil companies by market capitalisation.
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Tesco waits to see what SFO has in store: Tesco purports to offer many great deals. Sadly, for its shareholders, two-for-one offers on crystal balls are not among them.
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German utility Uniper set for volatile debut: Germany’s newest energy company Uniper will debut on the Frankfurt stock exchange on Monday, with a market capitalisation of as much as €4.5 billion — but analysts have warned that trading in the demerged unit of Eon could get off to a rocky start as index investors are forced to dump the stock.
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Bridgewater draws $22.5 billion as it opens to new money: Bridgewater, the world’s largest hedge fund, has attracted $22.5 billion after taking the unexpected step of opening its active funds to new money for the first time in seven years.
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Easing corporate pension promises could save £350 billion, study finds: Pension costs facing thousands of U.K. employers could be cut by up to £350 billion if company schemes were given more freedom to water down pension promises, according to new analysis.
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Tesla revamps autopilot technology after fatal crash: Tesla has unveiled a major update to its autopilot technology, less than six months after a fatal car crash raised questions about the safety of its driver assistance system.
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Audi signs deals with China’s three tech giants: Audi, the luxury German carmaker owned by Volkswagen, plans to work with China’s three biggest technology companies to enhance its reputation for building “connected” cars.
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U.K. music streaming sales up 49%: Music streaming revenues in the U.K. grew by 49%, to £251 million, last year according to a new report on the state of the industry — but the country’s live music market contracted by 2%.
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China infrastructure investment model under fire: More than half of Chinese infrastructure investments have “destroyed, not generated” economic value as the costs have been larger than the benefits, according to researchers at Oxford university, a finding that will fuel debate over the viability of China’s infrastructure-heavy growth model.
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Lex:
Twitter and tech: hardly working: Twitter, aged 10, is said to be contemplating more job cuts only a year after cutting 336 positions, a microscopic number to any of the previously mentioned companies but 8% of its workforce.
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The Daily Telegraph
Bank of England has given Hammond £40 billionof splurging room, economist says: Chancellor Philip Hammond could go on a major spending spree in his Autumn Statement without fear of spooking the bond markets, economists believe, because the Bank of England’s policy of easy money has given him more wiggle room.
Former North Sea oil workers are finding a second wind in renewables: Already over a third of the marine engineers working offshore as part of the U.K.’s growing renewable energy industry have made the move from oil and gas, and jobs statistics tell the tale of two very different industries.
It’s game on for Nintendo as it embraces the smartphone: Almost 10 years ago, the consumer electronics world was upended by two inventions in the space of a couple of months. Miyamoto’s cameo drew one of the most frenzied responses of the event and the following day Nintendo’s shares rose 13%.
Water companies team up to tap £4 billion business supply market: Two of Britain’s biggest water companies are poised to announce a major new tie-up to tap the £4 billion business supply market before it opens up to competition next year.
Premier Farnell investors to vote on £868 million Avnet takeover: Shareholders in Premier Farnell, the British electronics maker behind the Raspberry Pi computer, are expected to back U.S. company Avnet’s £868 million takeover offer on Monday in a further sign that Britain’s technology scene is a ripe target for overseas buyers.
Ophir Energy’s troubled gas project could turn a corner, says Barcap: Ophir Energy’s ongoing struggle to secure a partner for its $500 million gas project could turn a corner as global energy markets begin to tip to its favour, according to analysts.
The Guardian
U.K. economy to hit near standstill as Brexit vote hurts investment – BCC: Britain’s economy will grind to a near standstill over the coming months as post-referendum uncertainty triggers a slump in business investment, a leading business group has warned as it slashed its growth forecasts.
Hermes may face HMRC investigation into allegations of low pay: The government has asked tax inspectors to consider investigating allegations of low pay by self-employed couriers working for the doorstep delivery company Hermes.
‘There’s no compassion’: Hermes cut driver’s work as wife was dying: When online shoppers request home delivery, there’s a good chance that someone like Peter Jamieson will bring the package to their door.
U.K. music industry in plea to protect its status during Brexit negotiations: The music industry has issued a plea to politicians to protect the U.K.’s status as one of the world’s biggest exporters of new music during negotiations to leave the EU.
Alexis Tsipras claims creditors are making Greek crisis worse: Greece’s leftwing prime minister Alexis Tsipras has lambasted international creditors supporting the thrice bailed-out country for exacerbating its problems by failing to agree on how to address its burgeoning debt problem.
Shell begins production at world’s deepest underwater oilfield: Royal Dutch Shell has started production at the world’s deepest underwater oil and gas field, 1.8 miles beneath the sea surface in the Gulf of Mexico.
EasyJet pilots balloted for industrial action over claims of rising fatigue: EasyJet pilots are being balloted for industrial action over claims of rising levels of fatigue.
Taxpayers funded loans for foreign metals firm amid U.K. steel crisis: U.K. taxpayers subsidised cheap loans to a foreign metals company owned by a multibillionaire while the British steel industry was fighting for survival.
Greggs joins trend for healthy eating with sourdough pasties: It is the U.K.’s largest bakery chain, renowned for its sausage rolls and steak bakes and its north-east England roots as well as for famously putting the boot into George Osborne’s ill-fated pasty tax. But the lovers of puff pastry among the six million customers who flock to its 1,700 U.K. outlets are in for a shock this week.
Daily Mail
Coal might be all but dead in the U.K. – but worldwide prices are enjoying a surprise resurgence: Coal might be all but dead in the U.K. – but worldwide prices are enjoying a surprise resurgence.
British Steel pension scheme may be thrust into protective lifeboat amid reports Government has ruled out controversial changes to its rules: The £13 billionBritish Steel pension scheme could be thrust into a protective lifeboat amid reports that the Government has ruled out controversial changes to its rules.
NM Rothschild facing embarrassing lawsuit from four British pensioners who claim it mistreated them over mortgages: Blue-blooded bank NM Rothschild is facing an embarrassing lawsuit from four British pensioners who claim it mistreated them over mortgages.
Business leaders round on Trade Secretary Liam Fox branding his outburst against businessmen as, ‘unwise’, ‘unhelpful’ and ‘hypocritical’: Business leaders rounded on Trade Secretary Liam Fox this weekend branding his outburst against businessmen as, ‘unwise’, ‘unhelpful’ and ‘hypocritical’.
Sources claim luxury greetings card seller Paperchase is gearing up for £150 million float on stock market: Luxury greetings card seller Paperchase is gearing up for a £150 million float on the stock market, sources claim.
Daily Express
When will all pensions offer total freedom?: Last year’s pension freedom reforms unleashed a new era of flexibility for retirees, but some shackles have yet to be cast off.
Brexit Britain heading for BOOM not bust: Latest survey shows business is buoyant: Optimism was fast returning to the economy after falling to a three-year low in the immediate aftermath of the EU referendum, according to the Business Trends report from leading accountancy firm BDO.
Mark Carney’s ‘Brexit Bazooka’ was a dud, says Harvey Jones: The Bank of England is unlikely to deliver another blast of stimulus at its September meeting on Thursday, and quite right too.
The Scottish Herald
Spanish tapas chain makes £1.5 million move into Glasgow: The boss of a Spanish restaurant chain that is making a £1.5 million move into Glasgow has said the fallout from the Brexit vote could hit consumer spending but the company still expects to do well in the city.
Small stores worth billions, finds report: Independent convenience stores in Scotland contribute almost £4 billion to the economy, in spite of a five % decline in store numbers.
Scottish economy contracts for second consecutive month, sterling plunge raises cost burdens: Scottish economic output contracted for a second consecutive month in August amid continued oil sector weakness, and the plunge in sterling following the Brexit vote has ramped up companies’ cost burdens, a key survey shows.
Accountancy giant see profits per partner fall to £706,000: PWC has seen profits per partner fall five %, to £706,000 from £740,000, in the latest year when turnover grew faster in Scotland than the U.K. as a whole.
Glasgow property business lures globe-trotting accountant home: In this week’s SME Focus a property entrepreneur says he has no regrets about swapping corporate life in the sunshine of California for the challenges involved in running a small business in the colder climes of Glasgow.
The Scotsman
Morrisons announce tie-up with Amazon Lockers: Morrisons is to put hundreds of Amazon Lockers into its stores this year, the supermarket major said at the weekend, in a widening of the grocery tie-up with the U.S. online giant it began rolling out last May.
Record revenues of £3.44 billion at PwC as Scottish arm grows: PwC in Scotland has reported a 12% jump in annual revenues as part of an 11% rise in U.K. revenues to a record £3.44 billion at the accountancy and business services giant.
Martin Flanagan: Accounting scandal doesn’t stop Tesco recovery: Fraud charges against ex-Chiefs do not alter Tesco’s bounce back, writes Martin Flanagan
Travel group Minoan feels effects of Brexit vote and Turkey unrest: The effects of the Brexit vote and the unstable situation in Turkey will have an “unclear but significant impact” on full-year results at Minoan, the Glasgow-based travel and leisure group has warned.
City A.M.
Business as usual after Brexit blip, declares accounting firm BDO as confidence edges back: Like most other economic indicators, BDO’s confidence tracker has jumped back in August after hitting a three-year low in July. Firms told the accountants they are still hiring, activity is still climbing and more are optimistic than pessimistic about the six months which lie ahead.
Italy is just three plausible steps away from crashing out of the Eurozone: “Plausible threat” is a term of art in political risk analysis, meaning the peril being discussed can come about through entirely possible events. Martians disrupting France’s upcoming presidential election would not be a plausible threat (fun though it would be). On the other hand, Italy – through three entirely plausible steps – could soon leave the euro, destroying what little credibility the currency has left.
London will remain a world-leading city because of its world-beating talent: When people think of London, our city’s iconic buildings, red buses, black taxis, and vibrant cultural scene often come to mind. But the capital offers so much more than that, with PwC finding in a recent report that London, for the second year in a row, is the world’s number one place for companies to do business.
Recession risks fade but Brexit still set to drag on growth: Business activity rebounded in England and Wales last month, a new survey out today shows, confirming that the steep falls seen in the days immediately following the EU referendum have been reversed.
Theresa May should support migrant entrepreneurs to create more British jobs, a new report argues: Migrant entrepreneurs must be handed more support by government to boost the U.K. after Brexit, a new report has said.
