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Newspapers: The Times, Independent, FT, Telegraph, Guardian, Mail, Express, Herald 030616

The Times

Glencore hopes it can turn Iran’s copper into gold: Glencore is in talks with the Iranian government about establishing a copper industry as the country emerges from economic sanctions. Iran wants to increase its copper production tenfold by 2025 as part of its longterm economic plan.

Firm where ‘Flash Crash trader’ first worked fails: The firm that taught Navinder Sarao, the alleged Flash Crash trader, how to play the markets has gone bust after one of its largest traders took out an injunction against it, having been told that he was unable to withdraw millions of pounds of his own money from it.

Ryanair slashes baggage fees and votes to stay in Europe: Ryanair has cut its collection of baggage charges from 108 to six, as it said rising traffic meant the airline transported 10.6 million people last month.

Scottish engineers hit by low oil price and global slowdown: The Scottish engineering sector has continued to suffer as a result of the squeeze from lower oil prices and slowing global markets.

Investors want extra stamp duty dropped: Some of the country’s biggest investors in the private rental sector have written a letter to the housing Minister asking for exemption from the extra stamp duty recently imposed on buy-to-let properties.

No cheap money until you get reforms sorted, ECB tells Greece: Greece will have to wait for access to cheap money after the European Central Bank decided to pause for further evidence of reforms being implemented on the ground.

U.K. debut has pizza chain hungry for more: America’s fastest-growing restaurant chain is seeking sites up and down the U.K. after launching its first branch at a leisure park in Leeds yesterday, selling pizzas at a fixed price of £7.47.

Cath Kidston junks role in fashion store she created: Cath Kidston has stepped down as a non-Executive Director of her eponymous brand, ending formal involvement with a retailer famed for its chintzy teacups and floral bags.

PureCircle is hit by ‘slave labour’ claims: A London-listed sweetener producer suffered a significant blow after a shipment of its products from China was seized by U.S. customs amid allegations they were made using slave labour.

The Independent

Credit Suisse now allows bankers to take Friday night off to improve their work-life balance: Bankers working for Credit Suisse will now be able to leave the office at 7pm on Friday as the bank attempts to improve its staff work-life balance.

OPEC keeps status quo after failing to agree on output cap: OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling. Crude extended its decline in London.

Sainsbury’s faces complaints from customers after scrapping prosecco deal: Sainsbury’s has received complaints from customers after scrapping its £2.63 prosecco deal due to high demand.

Financial Times

Wafic Saïd drops Barclays suit over cutting banking ties: The Syrian-born billionaire businessman and philanthropist has dropped his lawsuit against the bank after it apologised for the way it cut ties with him despite his 40 years as a client.

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City AM to let brands place content directly on website: City AM is to give corporate brands direct access to its online publishing system, allowing them to upload advertisements that look like articles to its website.

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Investec to bolster capital by redeeming preference shares: Investec is boosting its capital structure with the specialist bank and asset Manager announcing a tender offer for two preference share issues, funded by a placing of £145 million of ordinary shares.

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Brussels looks at barriers to U.K. hedge funds finding EU investors: Brussels is seeking to help City of London hedge funds break through barriers that have stopped them from finding investors in other EU countries, in an attempt to make the bloc’s single capital market a reality.

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Orange says European telecoms consolidation off for two years: Orange has ruled out the possibility of cross-border and big in-country consolidation in Europe’s telecoms industry for up to two years, arguing that antitrust authorities in Brussels had “put a hold” on any such hopes.

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Line targets $3 billion IPO in Tokyo and New York: Line is aiming to raise about $3 billion in a dual Tokyo-New York listing, as the Japanese messaging app looks to arm itself with cash to challenge WhatsApp and WeChat.

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J&J to buy Vogue International for $3.3 billion: Johnson & Johnson agreed to buy Vogue International, maker of hair care and personal products, for $3.3 billion, as the U.S. healthcare to consumer goods conglomerate returned to major league dealmaking for the first time since 2011.

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Noble Group Chairman Elman to step down: Noble Group, the beleaguered commodities trader, has announced plans for a heavily discounted $500 million rights issue and further cost cuts, and said that Richard Elman is to step down as Chairman.

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Airlines’ net profits set to hit $39.4 billion this year: The airline industry will enjoy its fifth consecutive year of improving profitability in 2016, the sector’s main trade body said on Thursday, but it also warned of slowing growth in global air travel.

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Tribune Publishing: smells the same: And thus — or however the exchange went in reality — the venerable Owner of the Chicago Tribune and Los Angeles Times was transformed on Thursday into tronc, short for Tribune online content.

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LSE/Deutsche Börse: stock in trade: Clearing, derivatives and cash equity trading have been the themes that have preoccupied investors ahead of the merger of Deutsche Börse and London Stock Exchange. Documents relating to that deal, released on Wednesday, show another potentially fruitful area for growth: indices.

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Lululemon: No time to waste: Chip Wilson famously does not tolerate tardiness. When it comes to Lululemon, the athletic-clothing maker that Mr Wilson founded, the turnaround is too little and too late.

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Steel workers and shop staff push pensions into the limelight: From London comes news that no buyer has been found for BHS and so the company will be wound up. From Port Talbot in south Wales there are gladder tidings — Tata is minded to keep hold of its struggling U.K. steel business after all.

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Emotional baggage: Ryanair has done us all a favour. Henceforth, instead of having 108 baggage options when we book our flights, we will only have six. For this we are supposed to be thankful.

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The Daily Telegraph

City Link and Better Capital attacked by tribunal over courier company’s collapse: Executives and Owners of City Link have been attacked by an employment tribunal for failing to warn staff about redundancy plans at the courier company before it collapsed.

Core of banking could be destroyed by blockchain, says Barclays’ former Boss: New technology such as artificial intelligence and blockchain will utterly shake up the fundamental principles of banking, challenging the entire industry according to former Barclays Chief Antony Jenkins.

Junior miner Hummingbird Resources raises £45.8 million to kick-start Mali gold mine: Junior miner Hummingbird Resources has hailed a £45.8 million fundraising that will allow it to build a gold mine in Mali as a “seminal moment” in its history.

Political unrest threatens to tear apart the Eurozone, warns Pimco: Rising populism in Europe poses a bigger threat to the global economy than the prospect of a Donald Trump presidency, according to the Pacific Investment Management Company (Pimco).

Instant share trading may be on the horizon through blockchain, says EU watchdog: Shares could eventually be traded almost instantly without the costly safety net of clearing houses by using the blockchain, the building blocks of Bitcoin, although the technology remains at an early stage, a European Union watchdog has said.

Plastics specialist RPC packages up 34% sales rise: A flurry of acquisitions at plastics specialist RPC helped boost its annual revenue by a third, as the company continued to expand amid a period of increasing consolidation in the packaging market.

The Guardian

BHS rescue bid fails with loss of 11,000 jobs: BHS department stores are to disappear from British high streets after almost 90 years, with 11,000 workers losing their job.

Predictions of recession if U.K. leaves EU based on ‘bizarre assumptions’: Economists campaigning for Britain to leave the European Union have accused the Treasury and international institutions of “groupthink” in a report that says growth would be boosted if all trade barriers were removed after a leave vote in this month’s referendum.

Scores of MPs demand Land Registry privatisation be called off: More than 60 MPs have signed a letter calling on the government to abandon controversial plans to privatise the Land Registry.

Daily Mail

Stelios in new row with Fastjet after troubled airline warns it will need more cash to survive if it misses financial targets: Troubled airline Fastjet is embroiled in a fresh row with tycoon Sir Stelios Haji-Ioannou after warning it will need more cash to survive if it fails to hit financial targets.

U.S. buyout giants Cerberus Capital Management and TPG Capital set for £7 billion battle for credit card provider MBNA: Two American buyout giants look set to weigh in on a £7billion battle for credit card provider MBNA as competition hots up. Cerberus Capital Management and TPG Capital are thought to be eyeing the company, which issues branded cards for partners including Arsenal and Virgin Atlantic.

Chinese to buy noodles – from Sussex! Former PieMinister Director set to sell his Kabuto brand through Chinese supermarkets:  A firm making noodles in Sussex is to start selling its wares to China. Kabuto Noodles, founded by former PieMinister Director Crispin Busk, has sold its five millionth noodle pot this week and is in talks with a distributor to sell through Chinese supermarkets.

London-based Deutsche Bank trader accused in the U.S. of fixing the Libor dollar interest rate: The U.S. Justice Department has indicted two former Deutsche Bank traders – including one based in London – for involvement in a scheme to manipulate crucial interest rates.

London Stock Exchange Boss Xavier Rolet sees value of his own shares rise by £2 million since news of German takeover emerged: The Boss of the London Stock Exchange has seen his shares rise in value by £2 million since news of a German takeover hit the press.

Old Mutual Boss faces shareholder rebellion over bonus that could see him earn ten times his base salary: Investment giant Old Mutual faces a shareholder rebellion over a bonus package that could see its Boss earn ten times his base salary.

Tata needs a £900 million loan from the Government to keep Port Talbot steel plant open: Tata is in talks with the Government to borrow £900 million to keep its Port Talbot plant running.

The only way is up for crude claims Opec as it declares the worst is finally over following decision not to cap output: Some of the world’s biggest oil producers declared that the worst was over for the industry and prices would continue to recover this year.

Daily Express

Building hits the doldrums: Britain’s recovery prospects undermined: Construction companies are seeing their first fall in new work in three years to further undermine confidence in Britain’s recovery prospects.

Extra Energy most complained about, according to Citizens Advice table: Gas and electricity supplier Extra Energy is the most complained about in league tables put together by Citizens Advice.

Top economists blast Government ‘deceit’ over Brexit and reveal risks of staying in Europe: Top economists and politicians joined forces to blast the establishment’s “deceit” over what would happen to Britain’s economy outside of the European Union (EU).

The Scottish Herald

Meat firm Dalziel posts big rise in profits: Jr Dalziel, the Lanarkshire-based meat processor and retail butchery supplier, has flagged a big leap in profits following strong performances by its four trading divisions, new accounts show.

Glasgow oil and gas engineering firm mounts exports push with English business: Glasgow-based oil and gas engineering firm JWF has formed a joint venture with an English technology firm as it looks to win business in new overseas markets.

Banks go cold on lending scheme: The Funding for Lending Scheme failed to boost lending significantly in the first quarter, according to Bank of England figures, adding to concerns about a slowdown in the economy.

Dundee IT firm Logicnow sold to U.S. peer: Logicnow, the IT service management company which has its registered office in Dundee, has pledged its future to Scotland after being bought out by a much larger U.S. counterpart.

Lidl boost for Scottish dairy farmers: Grocery chain Lidl has boosted the Scottish dairy sector by striking supply deals with farmers around the country.

Vardy boosts share scheme: Car dealer Peter Vardy has transferred £5 million of the company’s equity into its partnership share scheme and offered share options to its 800 staff across Scotland.

Shore resigns from STV board: Broadcaster STV said Genevieve Shore had resigned from its board yesterday, having been a non-Executive Director for four years.

The Scotsman

Blackcircles network tops 2,000 as mobile sales motor: Online tyre retailer Blackcircles.com said its network of garages and fitting centres has topped 2,000 as it flagged a rise in sales via mobile devices.

Sarah McDaid goes it alone with PR consultancy: Former Pagoda Porter Novelli account Director Sarah McDaid has launched her own public relations consultancy, McDaid PR.

Business Stream seeks to tap into English water market: The non-domestic arm of Scottish Water has applied to industry regulator Ofwat for a licence to supply the market south of the Border.

City A.M.

Bayer secures €60 billion loan facility to fund Monsanto bid: In a bid to fund its $62 billion takeover of U.S. seeds company Monsanto, German drugs giant Bayer has secured a loan facility of a whopping €60 billion.

Private equity guru Jon Moulton considered buying BHS and Austin Reed: Private equity guru Jon Moulton has said he had considered snapping up collapsed retailers BHS and Austin Reed.

U.S. drug companies are hiring their own auditors to review compliance following civil violations, raising conflict of interest fears: Some of the U.S.’ biggest drug companies have been found to be hiring their existing auditors to carry out compliance reviews, creating a potential conflict of interest.

German regulator asks for more information on Deutsche Boerse-London Stock Exchange tie-up: The German politician responsible for approving Deutsche Boerse’s merger with the London Stock Exchange has said he requires “further information” on the deal.

West Berkshire Brewery raises glass as it expands into Islington-based pub Shillibeers and puts pen to paper on new brewery: Crowdfunding beer maker West Berkshire Brewery is raising a glass after it put pen to paper on a new £3 million custom-built brewery and secured its first urban pub, Shillibeers, in Islington.

Megabrew: U.S. Department of Justice set to give AB InBev green light for SABMiller deal: The U.S. Department of Justice is set to approve Anheuser-Busch InBev’s takeover of British drinks giant SABMiller.

Rio Tinto says it Lithium project has proven to be “an attractive investment”: Rio Tinto has signalled it’s increasingly interested in lithium, with future demand expected to soar due to the take up of electric vehicles.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.