The Times
Gang of Eight out in favour of Brexit: Leading economists have launched a pro-Brexit group, arguing that Britain will be economically better off it votes to leave the European Union.
Bosses ‘must disclose how pay compares to staff wages’: Company Chiefs should be forced to disclose how many times larger their pay packets are than the average of their employees, one of Britain’s biggest investment institutions has argued.
We will deliver 4G to remote areas too, EE Chief promises: The new Chief Executive of EE has declared a “war on not-spots” — places where there is no mobile phone signal — after pledging to expand its 4G network to 95% of Britain’s land mass, not only the main population centres.
Norwegian deal provides marine boost for Rolls: Rolls-Royce’s troubled marine division, which has been hit by the collapse in North Sea oil and gas investment, has won an important contract.
Obama pushes for trade deal with EU: President Obama said that he hoped to complete a trade pact with the EU by the end of the year as he underlined his warning that Britain would lose out by voting for Brexit.
Kodak camera is also a phone: Most people use smartphones as cameras, so it is perhaps no surprise that Kodak has hatched a plan to jostle for position in the mobile phone market. The company, which was bust four years ago, is to launch a phone aimed at photography enthusiasts who want more powerful camera functions.
The Independent
France ‘committed’ to Hinkley Point nuclear power station – but no decision for five months: France is committed to the £18 billion power station but no final investment decision will be made before September, the French economy Minister, Emmanuel Macron, has said.
Financial Times
U.K. profit warnings at highest level since crisis: Corporate profit warnings are running at their highest rate since the financial crisis as U.K. companies struggle to ensure that stock market expectations reflect more precarious economic conditions.
To Read More Click Here
EE pledges blanket 4G coverage of U.K. by tapping BT resources: EE will dip into the deep pockets of new Owner BT as part of a drive to provide blanket 4G mobile internet across the U.K., leaving rivals scrambling to catch up in terms of coverage.
To Read More Click Here
Vodafone rings up record growth on mobile money platform: Vodafone has reported record growth for its M-Pesa mobile money platform, with active customers rising more than a quarter to above 25 million in the past year.
To Read More Click Here
Executives braced for further shareholder rebellions over pay: The shareholder rebellion over Executive pay is set to intensify as four large U.K. listed companies face the threat of protest votes.
To Read More Click Here
Rolls-Royce deal with German workers raises fears in U.K.: Rolls-Royce has struck a deal with German employees not to impose compulsory redundancies before 2020 in return for concessions on working hours in a deal that could raise concerns over the future of its U.K. workforce.
To Read More Click Here
Labels step up YouTube fight over music: The music industry has opened a new front in its dispute with YouTube, as the three largest labels allege that the Google-owned video site’s filtering technology fails to identify enough of the content they own.
To Read More Click Here
Citigroup’s commodity trading gross profit rises 50%: Citigroup has reaped the benefits of investing in its commodities business as rivals pull back, cementing its position as one of the leading investment banks that generate hundreds of millions of dollars from trading raw materials.
To Read More Click Here
Lex:
Tech stocks: fangs for nothing: Silicon Valley has had a few rain showers recently, but the California drought endures. The market for new equity offerings is in sympathy: since the financial crisis, there has never been a drier spell of activity — not surprising when the few companies to risk an initial public offering have generally seen their shares trade poorly. Yet during 2016 a handful of big technology stocks have hit their highest multiples in years.
To Read More Click Here
The Daily Telegraph
Brewer Upham eyes £35 million flotation: A pub chain and craft brewer is to test investors’ thirst for beer with a stock market float that could value the business at up to £35 million.
Co-op Chairman Leighton steps up campaign to cut pay of Mutual’s Boss: Co-op Chairman Allan Leighton has called for the Mutual’s members to back a deep pay cut for its Chief Executive.
‘Viking raider’ from Iceland returns to the U.K. high street: Viking raider Jon Asgeir Johannesson has returned to the British high street for the first time since fraud allegations relating to the dramatic implosion of Iceland’s financial system were quashed in 2014.
Oil sector faces rising legal threat as deals fold amid the downturn: Banks are seeking to offload risky loans made to North Sea oil explorers and back away from the industry, in moves that could offer a stay of execution for some struggling companies.
Virgin Media ready to pounce on UKTV stake as it focuses on television ambitions: Virgin Media is weighing a bid for the BBC’s stake in UKTV, one of its senior Executives has revealed in an interview with The Daily Telegraph.
China’s fresh boom nears peak just as amateurs pile in: Elite global banks have begun to warn clients that China’s latest credit-driven boom is nearing its peak and will lose momentum by late summer, dashing hopes for a genuine cycle of fresh economic growth and commodity demand.
Founder of MPK garage business lands windfall as BGF and HSBC stump up £14 million: Shanti Majithia, the 70-year-old Owner of MPK Garages, a U.K. forecourt operator, has exited the family business he founded in 1979 as part of £14 million management buy-out and recapitalisation of the Leicester-based company.
The Guardian
Austin Reed files notice for administration with 1,000 jobs at risk: Close to 1,000 jobs are at risk at 116-year-old tailoring brand Austin Reed, where administrators could be called in as early as next week.
Pay ratio between Bosses and employees will be ‘2016’s hot topic’: The widening discrepancy between shopfloor wages and soaring boardroom pay is rising up the agenda of major investors and could spark calls for companies to provide more detail about their pay ratios, according to one of the largest fund management groups in the City.
Property tycoons David and Simon Reuben top Sunday Times rich list: The number of billionaires living in Britain has risen at its slowest pace since the financial crisis after some of the country’s richest people saw their fortunes plummet over the past year.
U.K. GDP figures expected to be weaker amid EU vote fears: The pressures on the U.K. economy from EU referendum jitters and a downturn in global trade will be revealed this week with the publication on Wednesday of official U.K. growth figures.
Former PwC employees face trial over role in LuxLeaks scandal: Two former employees of PricewaterhouseCoopers accused of being behind the biggest ever leak of confidential corporate tax deals face criminal trial in Luxembourg on Tuesday.
Diesel crisis deepens as German brands recall 630,000 cars: Germany’s top carmakers will recall 630,000 vehicles to fix diesel engine software technology that has been blamed for causing high pollution, while the emissions scandal engulfing Japan’s Mitsubishi Motors deepened.
Daily Mail
Panama Papers reveal link between Sports Direct and Icelanders at centre of financial meltdown: Sports Direct has become the latest household name to be scrutinised over its offshore links after it emerged that part of the retail empire was connected to a business in Panama.
Hooray for Boohoo as sales soar by more than a third over key Christmas period: Online fashion retailer Boohoo is expected to unveil a surge in profits this week after sales rose by more than a third.
Profit warnings at Britain’s firms still ‘remarkably high’ as going stays tough: Britain’s retailers are still ‘on the ropes’ according to a leading accountancy group.
Europe could block U.K.’s bid to rescue Tata Steel as jobs move might breach EU rules on state aid: The European Commission has begun talks with the Government over whether Britain’s proposal to part-nationalise Tata Steel U.K. amounts to state aid and could be blocked.
Daily Express
Banks facing up to a gloomy outlook: High street lenders to announce trading updates: Barclays will reveal the impact of a dire start to the year in the investment banking sector on Wednesday, while Lloyds Banking Group and Royal Bank of Scotland will follow suit on Thursday and Friday respectively.
Blue chip CEOs in the firing line: Heavyweight investors such as pension funds are now piling pressure on high-profile Chief Executives as the backlash grows over “outrageous” pay awards.
The Scottish Herald
Food and drink firms urged to look East: Food and drink companies in Scotland are being urged to capitalise on China’s fast-growing market for quality produce, fuelled by the growth of the country’s middle classes.
Scottish gin distillers could be next to benefit from innovative supermarket supply deal approach: The consultancy firms behind a batch of supply deals between Scottish craft breweries and supermarket giant Asda are aiming to help line up similar contracts for other small producers, such as gin distillers.
Richard Waldman promoted at Ultimate Finance: Richard Waldman, who joined funding firm Ultimate Finance to set up its Scottish operations, has been promoted to group sales Director.
Construction firm in job creation boost: Paisley-based construction firm CGC has announced a jobs boost for Ayrshire after winning significant work from South Ayrshire Council.
Blastproof shelter deal for Dundee firm: A Dundee company that makes shelters for hazardous environments has signed a deal to distribute a Canadian inflatable shelter that is blast-proof as well as weather-resistant.
The Scotsman
India revokes passport of former Whyte & Mackay Boss: India has revoked the passport of a businessman accused of fleeing to London in March while owing more than £900 million to Indian banks.
Dundee lift firm Caltech Lifts rises to the challenge: A Dundee lift specialist was set to begin work on a seven-figure contract for four massive tower blocks in its home city.
Consumer retreat as economic fears eat into spending: Consumer confidence has taken a tumble in the opening months of the year, driven by increasing concerns about health and wellbeing, a survey suggests.
City A.M.
Heathrow faces £16 billion “gaping hole” to upgrade road and rail links to the airport if third runway gets approval: Heathrow Airport would face a black hole in excess of £16 billion to pay for enhancements to road and rail links to the airport should the third runway be given the green light, Transport for London (TfL) has warned.
Deadline set for Austin Reed to find a buyer: The Owner of cash-strapped retailer Austin Reed is in a race against time to find a new Owner after it filed a notice to appoint administrators last Friday.
Chinese billionaire in talks to sell House of Fraser stake to Hamleys Owner: The Chinese billionaire Owner of House of Fraser is in talks to sell a stake in the department store chain, two years after buying it in a £480 million deal.
Premier Foods’ top shareholder criticises board for “arrogance” over failed bid talks: Premier Foods’ third biggest investor has criticised the company’s board for its “arrogance” and backed the idea of its Chairman resigning after bid talks with U.S. suitor McCormick collapsed.
The gin-aissance: Number of distilleries in England jumped by a third in 2015, according to UHY Hacker Young: The increasing demand for boutique spirits pushed the number of new distilleries in England up by a third last year.
Steel crisis: Government in talks with European Commission to avoid state aid clash: The government is in talks with European competition regulators to avoid breaching state aid rules that could hold up attempts to rescue the U.K.’s steel industry.
British Pubs Confederation threatens it could take legal action through judicial review over Paul Newby’s appointment of the Pubs Code Adjudicator: A pub industry body has threatened it could take legal action against the government’s appointment of the Pubs Code Adjudicator (PCA).
Entrepreneur Luke Johnson and Casual Dining Group said to be bidding for Tesco-owned restaurant chain Giraffe: Friendly-dining restaurant chain Giraffe has piqued the interest of serial entrepreneur Luke Johnson and the hospitality giant behind Bella Italia and Las Iguanas.
