The Times
Brexit fears add millions on to costs for business: A third of Bosses at Britain’s biggest public companies say they have spent up to £1 million preparing for the consequences of leaving the EU.
Signs of growth in France bring hope to Hollande: The French economy grew at a faster rate than expected in the first quarter of this year, one of two favourable economic snapshots released from Eurozone countries.
Head of Noble Group quits as trader sells again to cut debt: Noble Group, Asia’s biggest commodities trader, abruptly parted company with its Chief Executive after a period of underperformance and announced the sale of its American energy trading business to cut debt.
Beauty in eye of the shareholder as Hut Group fuels float talk: One of Europe’s fastest growing online health and beauty Owners has snapped up a rival as it bulks up ahead of an anticipated flotation next year.
Murray’s men set up their one-stop investment shop: Two former lieutenants of Sir David Murray are looking for deals after forming a corporate advisory and investment business. Donald Wilson and Ian Tudhope, who have known each other for nearly three decades, had key roles in Murray International Holdings as it became one of Scotland’s largest privately-held companies.
Anger over ‘cynical’ Amerisur share incentives: An oil company chaired by Giles Clarke, former Boss of the England and Wales Cricket Board, is under fire from investors over the generosity of management share incentives.
Scottish brands thriving in Waitrose: Waitrose will keep adding to its local produce lines as the tenth anniversary of its first Scottish store approaches.
The Independent
Plastic banknotes could stick together, Bank of England admits: The Bank of England has said plastic banknotes set to come into circulation later this year may suffer from a design flaw – they could stick together.
‘Discount store’ where everything costs £1,000 to open in Mayfair: A ‘discount store’ selling luxury jewellery, watches and fashion for the fixed price of £1,000 is due to open its doors in Mayfair.
Financial Times
Jaguar Land Rover profits fall 40% despite rise in sales: Annual profits at Jaguar Land Rover have fallen 40%, despite the carmaker reporting record sales and a 10% rise in revenues.
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HSBC Chief Stuart Gulliver tops investors’ choice for removal: HSBC’s Stuart Gulliver is the European bank Chief Executive who investors would most like to be replaced, according to a recent poll of large shareholders.
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Uber doubles ride-sharing zone in London: Uber is to more than double the scope of its ride-sharing operations within London in an attempt to tempt commuters to leave their cars at home.
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Spain tourism surges as sunseekers shun Turkey and North Africa: Spain is enjoying a surge in tourism as fears over terrorism drive wary travellers away from destinations in Turkey and North Africa and back to former favourites in southern Europe.
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Telefónica’s O2 seeks to end talks with Three: Telefónica is seeking to move on from the blocked merger of its U.K. business with CK Hutchison’s Three as the Spanish telecoms company plots a future sale or flotation of O2.
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Iata warns of slowdown in air travel: Global demand for air travel may be “shifting down a gear”, according to Iata, the aviation industry’s main trade body, sounding a warning that will send jitters through the sector.
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HNA in talks to buy stake in Air France’s Servair: China’s HNA Group is in talks to buy a 49.99% stake in Air France’s Servair in a deal that would give the French carrier’s air services company an enterprise value of €475 million.
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Lex:
Henkel: not coming unstuck: Bayer’s Werner Baumann was not the only Chief Executive to take up his post at the start of this month. On the same day Mr Baumann moved into the top office in Leverkusen, Hans van Bylen was tucking his feet under the desk at Henkel’s Düsseldorf headquarters.
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Noble Group: trade off: You can take the trader away from the company but you cannot take the company away from the trader. This might be the tagline for Noble Group. On Monday, the commodities trader said Yusuf Alireza, its Chief Executive, had resigned.
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Investment post-Brexit: some dismal science: The hobgoblins summoned in Treasury warnings about Brexit seem oddly two-faced. House prices will fall! Bond yields will shoot up! The pound will drop! To which its antagonists reply with a clever-clever smile: that is just what we want. Cheaper property, decent returns for savers and a competitive currency.
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The Daily Telegraph
Class of 2016 feels the pinch as graduate jobs fall off: The graduate class of 2016 faces an even tighter employment market after an 8% slump in the number of advertised jobs over the last year as salaries dropped to late 2013 lows.
Sausage brand Heck gambles on meat-free range as Millennials suddenly turn veggie: The U.K.’s last independent sausage giant has taken an unusual step to ensure its survival: going meat-free.
Brent Hoberman reveals plan to create 200 British start-ups: Brent Hoberman has pledged to create 200 new British technology start-ups over the next five years, claiming that he has rewritten the rulebook for building successful new businesses, and that existing incubators and accelerators are not fit for purpose.
Booming ‘freelance economy’ draws private equity firm Dunedin to £33 million deal: Britain’s booming “gig” economy has caught the eye of private equity house Dunedin, which has backed a specialist insurer for freelance and shift workers, Kingsbridge.
British offices start-up secure Chinese funding: A British start-up focused on the serviced office industry has secured backing from a giant Chinese firm in a deal that values its two commercial property joint ventures at about £160 million.
Retailers face triple threat as mounting costs take toll on high street: A triple burden of higher costs linked to the living wage, rapidly changing consumer demands and uncertainty surrounding the EU referendum is dampening optimism among U.K. retailers, a new survey shows.
Deliveroo announces partnership with biggest fish in U.K. dining: Deliveroo has landed a big fish of U.K. dining, signing a lucrative deal to deliver Pizza Express food to customers.
Businesses unable to pay millions in tax – as HMRC changed its bank details without telling them: Tens of millions of pounds in VAT and corporation tax due to the Government since February has not been paid as HMRC changed its bank details without telling businesses.
The Guardian
Former Zurich Insurance CEO killed himself, says company: The former Chief Executive of Zurich Insurance has committed suicide, the company said on Monday, less than three years after the company’s Chief financial officer also took his own life.
EDF’s Hinkley Point deal over radioactive waste sparks anger: A furious row has broken out after the Department of Energy and Climate Change (DECC) refused to disclose the arrangement with EDF for dealing with radioactive waste at the planned Hinkley Point C nuclear plant.
U.K. business confidence dips as EU referendum approaches, survey finds: U.K. companies have become gloomier about their trading prospects and the economic outlook as the EU referendum approaches, according to a survey.
Deloitte names highest-ever proportion of female partners: Deloitte has named its highest-ever proportion of female partners in the accountancy firm’s annual round of promotions but the pool of senior employees is still more than 80% male.
Gordon Ramsay eyes first U.K. restaurants outside London: Gordon Ramsay is looking to open his first U.K. restaurants outside London for over a decade after the celebrity chef’s company increased sales and narrowed losses.
BHS: MPs set to question tycoons and advisers who backed takeover: The property tycoons and advisers who backed Dominic Chappell’s BHS takeover are set to face questions from MPs over their involvement with the department store chain.
Brompton hopes electric bicycles can power international growth: When Bob Dylan went electric, he was infamously met with cries of “Judas” from wounded fans.
Economists overwhelmingly reject Brexit in boost for Cameron: Nine out of 10 of the country’s top economists working across academia, the City, industry, small businesses and the public sector believe the British economy will be harmed by Brexit, according to the biggest survey of its kind ever conducted.
Daily Mail
Tata Steel being warned not to betray workers as Indian Owners look increasingly likely to retain their U.K. business: Tata Steel is being warned not to betray its workers as its Indian Owners look increasingly likely to retain their U.K. business.
Leading backer of campaign for U.K. to stay in EU pocketed £205 million from his hedge fund last year: A leading backer of a campaign for the U.K. to stay in the EU pocketed £205 million from his hedge fund last year.
Steel experts outraged by Tata sweeteners and plans to tear up pension laws: Industry experts are outraged by Government attempts to beg Tata Steel to keep its U.K. steelworks with a secret package of sweeteners worth hundreds of millions of pounds as well as ripping up pension laws.
Rothschild’s RIT Capital Partners in swoop on troubled rival Alliance Trust: Investment giant Alliance Trust revealed it has been approached by a rival about a possible tie-up.
Daily Express
Merlin could exit FTSE in reshuffle: Alton Towers Owner Merlin Entertainments faces tumbling out of the FTSE 100 Index on Wednesday when the stock market’s committee announces the results of its latest quarterly review.
The Scottish Herald
Hong Kong overtakes U.S. at top of global competitiveness rankings: Hong Kong has overtaken the U.S.A to become the world’s most competitive area with the U.K. retaining a top 20 ranking well behind several smaller countries including Ireland, a closely-watched study has found.
Mackie’s in Hydro crisps partnership: Mackie’s at Taypack has agreed an exclusive sponsorship deal with SEC Ltd to be the official crisps partner for the Scottish Exhibition and Conference Centre and The SSE Hydro arena.
Thames Water eyes growth in business market in Scotland: Thames Water’s business supply division has moved from Edinburgh to a bigger base in Linlithgow, West Lothian, as the company mounts what it calls a major growth drive in Scotland.
Mercer’s new venture signals growth: IME Property, run by Iain Mercer, has signalled its growth ambitions by joining forces with East Lothian-based DMB Property. The deal will see DMB’s Owner, David Bell, 66, join IME as a consultant bringing over 40years experience in the commercial property market.
Halfords expected to post slight dip in full-year profits: Retailer Halfords will reveal the progress of its turnaround plan when it unveils full-year results in a quieter week for corporate news.
The Scotsman
Biotech sector catalysed by £1.7 million Edinburgh facility: A £1.7 million centre offering large-scale bioprocessing facilities has opened in Edinburgh, the first facility of its kind in the U.K. and aiming to help businesses test and commercialise their concepts.
Edinburgh Woollen Mill Chief eyes offer for Dobbies: The retail magnate behind Edinburgh Woollen Mill is understood to be weighing an offer for Dobbies Garden Centres, the chain put up for sale by Tesco as part of the supermarket giant’s restructuring.
FanDuel ‘focused on growth’ ahead of U.K. launch: Fantasy sports firm FanDuel has brushed off concerns over its finances as it gears up to launch its offering in the U.K. for the first time this year.
Collaboration plus investment can boost broadband: Scotland has set a target to achieve 95% coverage of superfast broadband across the country by 2017 with a £410 million investment from public subsidy and supplier contributions.
Tata whittles down bidders but sale hampered by £900 million loan: Indian multi-national Tata is understood to have whittled down possible rescue bids for its key Port Talbot plant in south Wales and others of its remaining steel mills in Britain to just four.
City A.M.
Number of buy-to-let investors breaks through 1.75 million barrier, though fears of a slowdown in the second half of the year persist: The number of buy-to-let investors in the U.K. has broken through the 1.75 million barrier for the first time, up by seven% over the last year.
Pensions lifeboat may have to take on 33,000 U.K. pensioners of bankrupt Canadian telecoms giant Nortel: The Pension Protection Fund (PPF), the lifeboat set to rescue BHS pensioners and possibly those of British Steel, may also have to take on the 33,000 U.K. pensioners of bankrupt Canadian telecoms giant Nortel Networks.
National living wage hurting U.K. productivity and low-wage sectors, claims think tank: The national living wage has had a detrimental impact on the U.K.’s low-wage sectors, a study by the Institute for Public Policy Research (IPPR) has found.
Australia set to auction off bitcoin stash as Chinese demand propels the price higher: Australia is going to sell off £7.5 million worth of bitcoin it confiscated as “proceeds of crime” during 2015.
Bayer’s share price remains low as investors await improved Monsanto offer: Bayer’s share price remained at around its lowest level since 2013 , suggesting investors are nervously awaiting an improved takeover offer for U.S. seed firm Monsanto.
Hundreds of U.K. jobs reportedly at risk over the MoD’s Boeing Apache deal: Hundreds of British jobs have reportedly been put at risk by a Ministry of Defence decision to award a £425 million defence contract away from Somerset-based AgustaWestland.
Iraq announces oil export hike ahead of Thursday Opec meeting: Iraq has said it will raise its oil exports ahead of a meeting of the Organization of Petroleum Exporting Countries (Opec) on Thursday.
Setback for Greece as GDP shrinks faster than first thought in first quarter: The Greek economy contracted by a shaper amount that previously thought in the first three months of the year, in a reality-check for the troubled nation following a string of upbeat developments.
