The Times
Germans to seize trade from City: Deutsche Börse’s €25 billion merger with the London Stock Exchange will trigger a huge grab of business by Frankfurt from the City, a study claims.
Co-op Bank takes £50 million pension hit: Co-op Bank has agreed to pump millions into the pension scheme of the Britannia Building Society. The struggling lender will hand the group’s pension trustees £50 million over the next seven years, as well as placing a £137 million portfolio of top-rated mortgages or debt into a custodian account with another bank as security for the scheme.
Maker of giant airship set for lift-off with London flotation: The maker of the world’s largest aircraft is planning a London flotation as it seeks funds for its plan to bring about a new dawn for the airship.
Music magazine publishers look to the Golden Gods: In a previous age, music magazines flew off the shelves as fans followed the antics of their favourite bands. Today in an attempt to rejuvenate some of Britain’s biggest titles, publishers are taking the leap from covering live events to organising their own.
BlackRock attacks top pay greed: The first shots have been fired in what could be another battle over boardroom greed, with BlackRock, one of the biggest investors in U.K. companies, warning directors over excessive pay.
Chinese investors go on €35 billion European spree: China went on a €35 billion shopping spree for European companies last year with a focus on technology and manufacturing.
Online bingo operator full of jackpot joy after securing London listing: A Canadian online bingo operator is poised to complete long-delayed plans to move its stock market listing to London after securing final approval from the U.K. Listing Authority.
Overseas boost helps Radley bag bumper festive sales: Radley, the British handbag and accessories group favoured by celebrities such as Pippa Middleton and Paloma Faith, has reported another strong Christmas with rising sales.
Business activity at 18-month high as firms shrug off Brexit: Business activity across England and Wales hit an 18-month high at the end of last year in a further sign that the economy has so far shrugged off the effect of the Brexit vote.
‘Build houses in same way as cars to tackle shortage’: Housebuilding must be treated like a manufacturing industry in order to address the shortage of homes, MPs will be told today.
Saying no to Dragons proves just the ticket for comparison site: Two young technology entrepreneurs who declined offers from TV’s Dragons have secured £750,000 in backing for their ticketing comparison site.
False Gulf oil spill claims put 100 in jail: More than 100 people have been jailed after fraudulently claiming against BP over the Deepwater Horizon oil spill, it has emerged.
The Independent
World could enjoy utopian future with sustainable development, year-long study finds: It is an unremittingly bleak vision of the future: over the next decade the world’s economy stagnates, fossil fuels ramp up global warming and the gap between rich and poor widens, fuelling nationalist tensions based on resentment of the ‘global elite’.
Brexit will be a ‘great thing’ for U.K., says Donald Trump: Donald Trump has pledged to move “very quickly” in securing a trade agreement with Britain after Brexit and predicted that leaving the European Union would be a “great thing” for the U.K.
Pound sterling hits new 31-year-low amid hard Brexit fears: Fears of the consequences of a hard Brexit have sent the pound to a fresh 31-year-low against the dollar, excluding last October’s flash crash.
U.K. could become ‘tax haven’ of Europe if it is shut out of single market after Brexit, Chancellor suggests: Britain is willing to rip up its economic model and become the tax haven of Europe if it is shut out of the EU’s single market, the Chancellor has suggested.
Financial Times
U.K. challenger bank warns of ‘crazy’ loans battle: U.K. challenger bank Secure Trust has warned of “crazy behaviour” among lenders battling to offer cheap personal loans at a time of economic uncertainty, prompting the bank to pull out of the market.
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London court to hear £10 billion Lehman v Lehman creditors’ claim: A £10 billion claim by the administrators of Lehman Brothers’ European operations will come before London courts on Monday, more than eight years after the U.S. investment bank collapsed.
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Swan song for DUET Group as board approves Li Ka-shing bid: Li Ka-shing is set to expand his infrastructure footprint Down Under after the board of Australia-listed DUET Group agreed to a A$7.37 billion ($5.45 billion) takeover from an investment group backed by the Hong Kong billionaire.
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U.K. challenger bank warns of ‘crazy’ loans battle: U.K. challenger bank Secure Trust has warned of “crazy behaviour” among lenders battling to offer cheap personal loans at a time of economic uncertainty, prompting the bank to pull out of the market.
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Fintech groups fall short of banks in gender equality: The new generation of financial technology companies trying to overtake traditional banks are lagging behind their bigger rivals in one unexpected area — they have far fewer women on their boards.
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U.S. banks’ profits leave European rivals in the shade: Combined profits for the three biggest U.S. banks last year were $65 billion, exceeding the combined market values of Deutsche Bank and Credit Suisse, underscoring a pronounced shift in power away from Europe since the financial crisis.
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Fitch downgrades outlook on Australian bank sector to negative: Australian bank shares were higher in Monday morning trade, relatively unfazed by Fitch Ratings downgrading its outlook for the sector in 2017 to “negative” on account of increasing economic risks and pressure on profit growth.
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Pimco hoards cash to fend off dangers after Trump surge: Pimco is battening down the hatches on its biggest bond funds, beefing up cash positions and cutting exposure to risky corporate debt in expectation that the Donald Trump election market euphoria will fade.
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China insurance clean-up hits Anbang product sales: Chinese insurers and their bank partners have halted sales of popular high-yielding investment products in recent days under pressure from regulators, signalling that the explosive growth in premiums that fuelled the industry’s aggressive acquisition spree in recent years is set to slow.
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Genedrive scores U.S. army coup with DNA-testing deal: A small British company has clinched a rare deal with the U.S. armed forces, providing them with millions of pounds of kit to test for biological warfare agents.
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BMW’s new Mexican plant can survive without making U.S. sales: BMW has said its new Mexican plant can survive without making any sales to the U.S. – which is just as well, given Donald Trump has threatened the German group with 35% import tariffs on cars made at its new site.
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Donald Trump takes swipe at EU as ‘vehicle for Germany’: Donald Trump has taken his strongest swipe yet at the EU, labelling it “a vehicle for Germany” and predicting that other countries will follow Britain in leaving the bloc.
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LeEco receives $2.4 billion injection from property tycoon: Chinese media and technology group LeEco has secured a $2.4 billion strategic investment from a consortium led by a private real estate developer, offering the cash-strapped company a lifeline after breakneck growth left it overextended.
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Detsky Mir plans IPO as Russian sentiment improves: Detsky Mir, Russia’s largest children’s goods retailer, is to go public in the next few weeks, according to people close to the plans.
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Toyota marks break from past with fund for tech investments: Toyota has invested in 15 technology start-ups worldwide through a $310 million fund it launched 14 months ago, marking a break from its typically conservative investment stance in an attempt to ride the new wave of connected vehicles and robotics.
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Driverless cars heading for a jam, says transit group: Growing adoption of self-driving vehicles risks aggravating urban congestion if it promotes the use of cars over buses and trains, a public transport body has warned.
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Facebook rolls out fake-news filtering service to Germany: Facebook is rolling out measures to fact check and flag fake news for the first time outside the U.S., bringing the tests to Germany in an attempt to control the proliferation of news hoaxes ahead of its election.
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Lex:
China Vanke: farewell to arms: In China, politics and business are closely interwoven. The phenomenon has been illustrated in the past 13 months by an unusually public boardroom battle at China Vanke, the mainland property developer. On Friday came the latest development: state-owned enterprise China Resources Holdings said it would sell its stake in Vanke to Shenzhen Metro.
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U.S. airlines: ascending expectations: For U.S. airlines, learning how to make consistent profits is no longer enough. Several years on from the megamergers that consolidated the industry into three primary carriers, the ability to go for a few years without losing money is taken for granted.
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U.S. banks: staying the course: Banks, like dieters, have had to adjust to a more health-conscious regime. As interest rates inch up and trading revenues benefit from political volatility, they have to avoid the temptation to binge eat or revert to a less exacting training programme.
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The Daily Telegraph
Danger of fresh steel crisis eases as industry wins relief green taxes: The danger of Britain’s steel industry plunging back into crisis has eased with the government agreeing further subsidies that reduce the sector’s cripplingly high energy bills.
The Duchess of Cambridge’s fashion favourites among festive performers: British fashion favourites Reiss and Hobbs delivered strong sales over the Christmas season as the privately owned retailers followed in the footsteps of listed stalwarts such as Marks & Spencer and Debenhams.
O2 and Vodafone hope mast deal will help battle with BT: O2 and Vodafone are renegotiating their billion-pound deal to share mobile masts in a bid to speed up the rollout of the networks and keep pace with BT’s coverage expansion plans.
Mauritius payment knocks Fundsmith profits despite surge of new customers: Terry Smith’s investment firm Fundsmith moved nearly £30 million to its sister company in Mauritius last year, sending its profits falling sharply despite a surge in customers attracted to its investment strategies.
Wellesley to freeze crowdfunding campaign as it courts City investors: Peer-to-peer property lender Wellesley is suspending its crowd-funding efforts as it courts City investors to help fund its expansion.
Brexit fails to deter Malaysian hotelier’s plans for London tower: A scion of one of Malaysia’s wealthiest real estate dynasties has said that plans to build one of the tallest residential towers in London will not be bulldozed by Brexit.
Rise in outdoor gyms signals a muscling-up of the outdoor fitness industry: This week, in hundreds of parks across the country, a diverse army of sweaty, bib-wearing people will be braving the January chill as they run, squat and jump their way through a series of military-based fitness exercises in a bid to shed some of their festive weight gain.
The Guardian
Fischer Energy joins U.K. retail market with 100% renewable offer: The ranks of the 40-plus energy companies jostling for householders’ business will swell on Monday with the launch of a new supplier that delivers electricity from windfarms.
Private medical insurance sales surge for first time in seven years: The number of people in Britain taking out private medical insurance has risen significantly for the first time since 2008, amid fears about the ongoing crisis gripping the NHS.
World’s eight richest people have same wealth as poorest 50%: The world’s eight richest billionaires control the same wealth between them as the poorest half of the globe’s population, according to a charity warning of an ever-increasing and dangerous concentration of wealth.
Bookmakers face losing their licence and huge fines over problem gambling: Gambling firms that fail to tackle problem gambling and money laundering face heftier fines and a higher risk of losing their operating licence under a tougher regime to be unveiled by the industry’s regulator.
Daily Mail
Great goldmine rush: Rivals in discussion about £3 billion merger, gold prices expected to rise: Gold miner Acacia (ACA) has revealed it is in merger talks with Canadian rival Endeavour Mining. London-listed Acacia, which operates mines and exploration projects across Africa in Tanzania, Kenya, Burkina Faso and Mali, said preliminary discussions had taken place but there was no certainty of a deal.
Daily Express
Banks and energy firms to face more state scrutiny in 2017: Banks and energy companies should ready themselves for greater scrutiny from the U.K. Government this year, with the Prime Minister expected to tap into rising populism, a new report claims.
Brexit boost: Rolls Royce will not seek assurances if Britain ditches single market: Rolls-Royce Motor Cars will not follow in Nissan’s footsteps in seeking special assurances from the Government if the U.K. leaves the EU’s single market, the Chief Executive has said.
The Scottish Herald
St Mirren scores winner with the environment: St Mirren Football Club is helping air passengers become more environmentally friendly after a business that leases the club’s car park launched a new offer for green-minded drivers.
Halfords expected to confirm encouraging Christmas trading figures: Halfords will join the party of retailers updating the market on festive trading this week, with experts forecasting it to emerge as a Christmas winner.
Subsea firm secures bank funding: Aberdeenshire engineering firm Ecosse Subsea Services has secured a multi-million credit facility from Handelsbanken to help it pursue growth in sectors such as renewable energy.
The Scotsman
Crowdfunded energy firm plans to take on the Big Six: A Scottish couple fed up with the high prices charged by the Big Six energy firms have launched a crowdfunding site to set up a new publicly-owned energy company.
Labour warns of ‘trade war’ as Hammond gets tough with EU: Britain risks sparking a “trade war” with Europe, Labour has warned after Philip Hammond warned EU leaders the U.K. could pursue aggressive business tax cuts if it isn’t given a favourable Brexit deal.
City A.M.
Global IPO values set to grow by more than a quarter this year: Global float activity is expected to rise by just over 25% in 2017, before surging onwards in the following years. This year will see floats reach $167 billion (£138 billion), according to experts at law firm Baker McKenzie, up from $133 billion in 2016.
Tit for tat approach to foreign investment expected in 2017, as governments prepare to get hands on with markets gone wrong: This year could mark a move towards more protectionist attitudes, with governments closing the door on countries they feel give their own firms a raw deal, a report out today cautions.
Burundi rare earth miner Rainbow Rare Earths dusts itself off for London flotation: A Burundi-based miner with one of the world’s highest grade rare earth deposits is dusting itself off for a London Stock Exchange listing.
MPs are questioning whether more support should be provided to working fathers: A parliamentary watchdog is to launch an enquiry into support available for working fathers. The Women and Equalities select committee is calling for evidence over concerns workplaces are not providing support to dads.
Chinese investors snap up stake in disruptive aerospace firm dubbed “the Disneyland of engineering”: Chinese investors have scooped up a significant minority stake in British aerospace firm Gilo Industries Group. The science arm of conglomerate Kuang-Chi, which is headquartered in the city of Shenzhen, has bought a stake in Dorset-based Gilo, Sky News reported.
Duff & Phelps hits out at BHS pensions lifeboat in letter to Labour MP Frank Field: The firm originally appointed to handle the collapse of BHS has criticised the company’s largest unsecured creditor for trying to control the process.
Soma Oil & Gas probe set fraud squad back almost £60k, after investigation was dropped late last year: The fraud squad’s investigation into Soma Oil & Gas set it back almost £60,000, City A.M. has learned.
