The Times
Calls for investigation into HBOS scam ‘cover-up’: Former HBOS employees could face prosecution over an alleged cover-up of the sprawling fraud run out of its Reading branch, a senior MP has inferred.
Ireland ‘will be hit hardest’ by Brexit: Brexit is set to hit Ireland much harder than any other remaining EU country and may harm its economy even more than Britain’s, according to a study drawing on six previous estimates.
Access to skills is as crucial as trade, says Deloitte Boss: Mobility of people should be as high a priority as trade in Britain’s negotiations to leave the European Union, according to the U.K. head of one of the world’s leading accountancy firms.
Liberty Living digs into student halls with £460 million buy-up: One of the largest transactions in the U.K.’s booming purpose-built student accommodation sector has taken place after Liberty Living bought a portfolio of almost 6,500 beds for £460 million.
EU lightbulb ban will cost businesses and homes £1 billion: Homes and businesses will have to spend more than £1 billion replacing halogen lightbulbs before an EU ban takes effect next year.
The Independent
3 companies that give staff paid time off when they get a puppy: As it turns out, some companies sympathise with this transition and offer what’s known as “pawternity leave.” In fact, research from Petplan found that 5% of owners have been offered paid leave from their job to adjust to their pet owning duties.
Donald Trump: Brexit could be a good thing for both parties: Donald Trump has praised the European Union’s response to Brexit, claiming the U.K.’s withdrawal from the bloc could be a “very good thing” for both parties.
Brexit trade deal with Britain must be linked to security, EU warned: Sir Michael Fallon said it is “very important to link trade and security” in the negotiations with the European Union over the U.K.’s future deal with the bloc.
Financial Times
National Grid calls for rule change so it can own storage: National Grid, the operator of the U.K.’s electricity system, is pressing for a rule change that would allow it to own storage, one of the key technologies that will help Britain keep the lights on in future.
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Canadian operators buy oil sands assets as foreign groups retreat: Canada has been nationalising its oil sands industry. Not in the sense that the government is taking greater control of private companies: it tried that with Pierre Trudeau’s National Energy Program of the early 1980s, and is unlikely to repeat the experiment any time soon.
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China’s Huishan tapped shadow banks as condition worsened: China’s Huishan Dairy raised millions of dollars by selling shadow bank products labelled as “low risk” to the public last year, only months before missed loan payments sent creditors scrambling to protect themselves, according to exchange listings in north-east China.
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China’s HNA among bidders vying for HSH Nordbank: The acquisitive Chinese conglomerate HNA is among the initial bidders for the German Landesbank HSH Nordbank, according to people familiar with the situation.
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Citigroup’s drop in branch rankings highlights move upmarket: Citigroup has dropped out of the top 15 banks by branches in the U.S., underscoring its post-crisis shift upmarket as it focuses on serving wealthier customers at home and abroad.
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India developer brothers arrested in Delhi: Two of India’s most high-profile developers have been arrested on charges of fraud in a case which comes amid growing questions about the industry’s practices.
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LG Chem holds faith in China despite battery of obstacles: LG Chem is expanding battery production in China in spite of Beijing’s preferential treatment for local makers, and even as the South Korean group attempts to diversify away from the world’s largest electric vehicle market.
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Tesla beats expectations by delivering 25,000 cars: Tesla delivered 25,000 cars during the first quarter of this year, higher than analysts expected, heralding a strong start to a year that will be make-or-break for the electric carmaker led by Elon Musk.
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Shenzhen’s gadget makers come of age: Huaqiangbei electronics market in downtown Shenzhen is a gadget geek’s paradise, selling everything from individual semiconductor chips to roll-up drum kits to hoverboards. For some, it is also the culprit for the declining fortunes of U.S. wearable tech companies such as GoPro and Fitbit.
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Small-cap telecoms investors seek returns near, here or far: Telecommunications companies have gone through the cycle of offshoring, nearshoring and, as is the trend, onshoring work in areas such as technical development and, much to the chagrin of their users, customer services. Vodafone is the latest to bring call-centre work back from locations as far afield as South Africa to its U.K. home market.
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Humber ports invest £50 million in bet on rising Brexit traffic: The owner of Britain’s busiest port complex is investing £50 million to expand as it bets on an increase in U.K. trade following Brexit.
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Tycoons square up in legal thriller over Latin American airline: Roberto Kriete’s patience finally snapped on January 31. Germán Efromovich, a hyperkinetic entrepreneur and Avianca’s biggest shareholder, went too far. Mr. Kriete claims Mr. Efromovich unexpectedly announced a transaction he had arranged with United Airlines, the U.S. carrier. Furious about the “secret” deal, Mr. Kriete, Avianca’s second-biggest shareholder, instructed his lawyers to sue.
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Lex:
Subprime lending: elevator pitch: Peer-to-peer lending is so last year. Old-fashioned banking is the new frontier. At least, that is what subprime lender Elevate is pitching as the Texan company prepares for a second attempt at a flotation that makes more sense as an exit than an entrance.
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The Daily Telegraph
Why a ‘significantly undervalued’ pound will bounce back this year: Sterling will climb back to levels not seen since the Brexit vote by the start of next year, according to analysts who believe the currency is “significantly undervalued”.
British businesses ready for risk as Brexit shock simmers: Finance Chiefs at some of Britain’s largest corporates are feeling as optimistic about their businesses future as they did before the EU referendum, with risk appetite trickling back after dropping off a cliff post-Brexit.
Twitter targets tie-ups with pay-TV broadcasters in live video push: Twitter is seeking to ink deals with pay-TV companies that would let subscribers watch live channels over the social network as part of a major video push.
Farming giant warns of soaring dairy prices with hard Brexit: Milk, cheese and cream prices could soar if a transitional agreement is not forged to save imports and exports from World Trade Organisation tariffs of 36% after Britain leaves the European Union, the U.K.’s largest milk producer will warn.
HS2 attacked over ‘flawed’ bid process: U.K.-based infrastructure group Mace has attacked the tendering process of the High Speed 2 project as “seriously flawed” after U.S. engineering firm CH2 million Hill pulled out of the contract last week amid allegations of cronyism.
British AI firm Cortexica raises £4 million: A British artificial intelligence firm has raised £4 million to develop visual recognition technology that aims to mimic how humans see the real world.
Pension schemes “material risk” to FTSE 250: A significant number of British businesses are sitting on pension schemes that could represent a “material risk” to their business, a retirement consultancy has warned.
CBI calls for redoubled efforts to create jobs in North: The Government must redouble efforts to create a Northern Powerhouse that will boost jobs and opportunities for those “left behind”, the head of Britain’s biggest business group will warn this week.
The Guardian
Serious Fraud Office Boss warns big names to play ball – or else: David Green, the Director of the Serious Fraud Office, has warned that British businesses should not consider deferred prosecution agreements (DPAs) the “new normal” if they are caught misbehaving.
Sydney property prices rise almost 20% in past 12 months: Sydney property prices have increased by almost 20% in just 12 months, putting the city at the front of a nationwide trend that has seen house values increase by 12.9% on average.
As demand rises, the reputation of new-build homes is crumbling: A hole where a window should be, no cavity wall insulation and uneven stairs are just a few of the problems developers have left behind, with owners struggling for solutions.
U.K.’s gender pay rankings will put discrimination under spotlight: Britain’s gender pay gap has refused to close for years. At 9.4% in 2016, the difference between average pay for male and female full-time employees was little changed from the 10.5% gap five years earlier.
Osborne’s huge tax giveaway starts for rich – as the poor are hit: The richest will reap 80% of the rewards from the tax and benefit changes that start to come into effect this week, while the poorest will become worse off, according to detailed analysis by the Resolution Foundation.
Daily Mail
Virgin Money poised to show its hand in first round of bidding for Co-op Bank which closes this week: Virgin Money is expected to make a bid for the ailing Co-op Bank. The smaller lender is poised to show its hand in the first round of bidding which closes this week, it is understood.
Reckitt Benckiser poised to offload food business to help fund £14.3 billion takeover of baby food maker Mead Johnson: Reckitt Benckiser is poised to offload its food business to help fund its £14.3 billion takeover of baby food maker Mead Johnson Nutrition, according to reports.
Credit Suisse defends damaged reputation after gold, jewellery and cash seized from accounts in series of international raids: Credit Suisse has sought to defend its damaged reputation after gold, jewellery and cash was seized from accounts in a series of international raids.
Ad agencies and Google could face multi-million pound claims from major firms over extremist website scandal: Advertising agencies and Google could face multi-million- pound legal claims from major companies over the scandal which has seen their brands linked to extremist websites, a top media lawyer has warned.
Daily Express
Saga’s strong double-act is paying dividends: Few insurance brands call to mind palm trees and sangria, but then few companies offer Saga’s unique blend of insurance and cruises. It’s a mix that seems to be delivering results; as the group saw underlying profits rise 5.6% in 2016, hitting £187.4million, with the full-year dividend rising 18%.
Rail industry bracing for crucial week as Southern strikes could stop: The result of a ballot of train drivers on whether to end a long-running dispute on Southern Railway will be announced, in a crucial week for the industry.
Barclays prepares for recession as indicators point to short period of negative growth: Barclays is preparing its credit card division for a shallow recession, according to sources, at a time when debt is rising at its fastest rate for more than a decade.
The Scottish Herald
Huge leap forward at biotech business: Scottish salmon will soon be fed with proteins recovered from the whisky production process after a biotechnology firm revealed it is close to building its first processing facility.
Ecologists make love of nature pay as consultants: With Ministers and corporations highlighting the potential of renewables in Scotland we hear from a business whose experience shows the important role played by small firms in delivering giant infrastructure projects.
Scottish business hub in London in high demand: A new facility for Scottish businesses to use as a hub in London has had a “phenomenal response” since Scottish Enterprise began a soft recruitment process earlier this month.
Asos looks to defy gloomy retail sector with sales increase: Asos looks set to shrug off the gloomy outlook facing the British retail sector with another jump in sales when it reports interim results on Tuesday.
Edinburgh Woollen Mill tipped to buy Jaeger: Edinburgh Woollen Mill is understood to be taking over the struggling fashion business Jaeger.
The Scotsman
U.S. tech firm announces £3.8 million investment in Edinburgh: A U.S. technology firm is to invest £3.8 million in its specialist research centre in Edinburgh, the First Minister has announced.
Accountancy firm adds up benefits of going electric: Accountancy firm Campbell Dallas is talking up the benefits of “going green” after acquiring two electric cars for pooled staff use.
Laundry firm goes hi-tech with uni tie-up: Commercial laundry business Fishers has launched a project with a Scottish university to capitalise on its hi-tech bed linen and towels.
Leith warehouse becomes film studio for Avengers movie: A vast warehouse on Edinburgh’s waterfront has been turned into a film studio for the latest Avengers blockbuster.
City A.M.
Takeovers of pharmacies up 95%: Pharmacy takeovers are up 95% in the last year as large chain buy-outs drive the trend for consolidation, law firm Hugh James reports.
HM Revenue & Customs (HMRC) bagged more than £3 billion from small businesses in the last year by cracking down on two types of taxes: The taxman brought in more than £3 billion from small businesses last year after honing in on two types of taxes, figures out show.
Tamara Mellon has “no immediate plans” for launch in U.K.: Jimmy Choo co-Founder Tamara Mellon has put on hold plans to expand her eponymous brand to Britain, her home country.
London riding high as leader of Europe’s retail market: London remains the retail market leader in the EMEA region, boosted by strong consumer spending and more new shop openings than any other market, according to a report by real estate advisor Colliers.
