The Times
Chinese sued in brewery fight over ‘owed’ millions: A company chaired by Sir John Ritblat is suing China’s largest property developer over claims that it has reneged on an agreement made as part of a deal in London.
Tesco faces questions amid pension deficit fears: Tesco could be called before the Commons inquiry into workplace pensions amid claims that the hole in its pension fund could be up to £6.5 billion.
Struggling Mitie’s ‘prickly peer’ gives critics the silent treatment: The services group that stunned the stock market with a profit warning last week has refused to talk to analysts who take a negative view on their shares, it emerged over the weekend.
Europe ready to put exchanges merger under the spotlight: The European Commission is expected to respond to competition concerns by launching an inquiry this week into the £22 billion merger between the London Stock Exchange and Deutsche Börse.
Ex-Quindell Boss loses £1 million on broker stake: The ousted Boss of Quindell has been forced to take a near-£1 million hit on a delisted broker, about a year after he was talking up the investment.
Goldman Sachs to cut its cloth in Far East: A dearth of mergers and acquisitions work has required Goldman Sachs to take the axe to its Asian business, with nearly 30% of jobs in investment banking in Hong Kong, Singapore and China set to be lost.
Apple’s high five shows you don’t have to be brand new to be cool: It faces an £11 billion tax bill, iPhone sales are sliding and disgruntled users have bemoaned its decision to ditch the headphone jack, but experts still believe that Apple is the coolest company on the planet.
Taxman is breaking down more doors to catch the fraudsters: Tax officials are increasing the numbers of property raids they carry out as part of criminal investigations.
Give exporters a break with tax credit, argue business Chiefs: British exporters should be rewarded with a tax credit that would encourage international trade, a pan-European business group has claimed.
Superyachts power through choppy waters: Global demand for superyachts has boosted revenues within the sector by 11.5% over the past 12 months, a fourth consecutive year of growth.
The Independent
Monarch Airlines denies rumours it is going bust amid passenger fears: The U.K. budget airline Monarch has denied rumours it is going bust, amid growing concerns among passengers that their bookings may be at risk.
Experts warn U.K. won’t have trade deal with EU within two years: Civil servants preparing for negotiations to pull Britain out of the EU face a task of “mind-boggling” complexity, experts have said.
Financial Times
City of London fears May government is shifting towards ‘hard’ Brexit: Senior financiers are alarmed at growing political momentum behind a so-called “hard Brexit” that they fear will erode business confidence, trigger corporate departures and damage the City of London.
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Qatar withdraws from race for Grosvenor House and New York Plaza: The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the U.K.’s richest men, the Reuben brothers.
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HSBC kicks off search for next Chief Executive but one: HSBC has kicked off the search for its next-but-one Chief Executive by hiring a headhunter to assess the strength of its most promising Managers and benchmark them against the best rivals externally.
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Perverse logic behind National Grid revamp: At a time when investors everywhere are engaged in a frantic hunt for yield, it might seem odd that the listed Owners of some of Britain’s biggest income-generating assets should be looking to sell them.
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Asset Managers accused of climate change hypocrisy: Four of the world’s largest fund houses have been accused of playing “games” with their investors after failing to back motions that sought greater climate change disclosure at ExxonMobil and Chevron.
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Star trader Rokos eclipses his old Brevan Howard fund: In less than a year since the launch of his eponymous hedge fund, Chris Rokos, the former star trader at Brevan Howard, is outperforming his former colleagues with returns of about 8% in 2016.
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French state bank CDC plans run of sales: The Caisse des Dépôts, France’s state-backed bank, is planning to sell hundreds of millions of euros worth of shares in some of the country’s largest companies as it shifts its focus away from large historical shareholdings.
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Volkswagen set to accelerate diesel recalls in Europe: Volkswagen has pledged to accelerate its recall programme in European markets for the 8.5 million cars caught up in the dieselgate scandal and to improve communication with customers, as the company seeks to relieve pressure from Brussels over its handling of the crisis.
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BandLab buys 49% stake in Rolling Stone: Rolling Stone has sold a 49% stake to BandLab Technologies, a Singapore-based music start-up founded by one of the richest families in Asia.
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The Daily Telegraph
Brexit vote ‘will not dent economy this year’ as U.K. growth forecasts back to pre-referendum levels: The U.K.’s decision to leave the EU will not dent growth at all this year, according to economic forecasts compiled by the Treasury, in a complete reversal of the gloomy short term forecasts made after the EU referendum.
Europe should look to Japan for warning signs on negative rates: The Bank of Japan’s announcement of Yield Curve Control might look like an arcane piece of monetary policy from an economy that has struggled to escape from deflation. But for central bank watchers in Europe – all investors should be central bank watchers these days – it may provide a roadmap to the future.
Jeremy Corbyn’s growth plan ‘excessive’ and risky, economists warn: Economists and Labour party donors have poured scorn on Jeremy Corbyn’s plans to launch a £500 billion investment spree if the party wins the next election, calling it “excessive” and a risk to the economy.
Mobile giants ‘face £1 billion Phones 4U claim’: Britain’s mobile giants face a High Court claim for hundreds of millions of pounds over allegations they colluded and forced Phones 4U out of business, The Daily Telegraph has learned.
Australian internet firm mounts BT challenge with business broadband launch: An Australian “challenger” broadband firm has vowed to shake up Britain’s telecoms market when it launches in the U.K. this week with cheap fibre internet and data services aimed at small businesses.
Petra Diamonds Boss Johan Dippenaar on how the miner was created from scratch: At a time when miners are looking to save money hand over fist, one company has been swimming against the tide. Petra Diamonds, the South Africa-based upstart led by Johan Dippenaar, is on the cusp of completing a seven-year, $1 billion (£763 million) expansion programme that will triple its production of the sought-after rocks.
The Guardian
Midcounties Co-op makes record payout to worker who earned below minimum wage: Britain’s biggest independent co-op has made the highest single payout to a worker for breaching low pay laws and is examining whether 200 others may have been paid below the minimum wage, the Guardian can reveal.
AkzoNobel Chief urges U.K. to clarify future relationship with EU: AkzoNobel, one of Europe’s biggest industrial companies, has called for “quick clarity” over the U.K.’s future relationship with the EU.
British manufacturing sector ready for expected boost from Treasury: Britain’s manufacturers insisted they have a crucial role to play in a post-Brexit world, contributing $247 billion (£190 billion) a year to the economy and creating well-paid, high-value jobs.
Former IMF head Rodrigo Rato on trial over bankers’ luxury sprees: Former IMF Chief Rodrigo Rato stands trial on Monday accused of overseeing a “corrupt system” that helped him and other Executives misuse funds on hotels, parties and luxury shopping when he was a Spanish bank Boss.
Daily Mail
Mobile Phone giant 02 eyes up a London listing valuing the business at £10 billion: Mobile phone provider O2 is thought to be gearing up to list on the stock exchange in a flotation which would value the business at £10billion.
Daily Express
Gloomy view from banks and lenders as confidence in financial services drops: Confidence across the financial services industry has continued to deteriorate over the past three months, marking the longest period of falling sentiment since the financial crisis.
BHS to be relaunched online one month after the last high-street store shut down: British Home Stores is to relaunch online, a month after the last of its high-street shops shut down.
Burger King branch out into home deliveries following new deal: Burger King is branching out into home deliveries following a deal with French on-demand courier service group Stuart.
The Scottish Herald
Buyer sought as Castle Douglas car dealership goes into liquidation: Campbell Dallas restructuring partner Blair Milne is seeking a buyer for James Haugh (Castle Douglas) after the independent garage was placed into liquidation.
Trio of firms share £85,000 to develop oil and gas technologies: The Oil and Gas Innovation Centre has provided £85,000 of funding to three companies that are working in partnership with Scottish universities to develop technologies to improve efficiencies in the oil and gas industry.
Law at Work bulks up with addition of Square Circle: Law at Work, the employment law and HR business that was spun out of law firm Maclay Murray & Spens in 2012, has acquired Glasgow-based HR consultancy Square Circle.
P&O sees clear water after scrapping loss-making Troon service: Ferry operator P&O says it is having is “best year in five” on its Irish Sea services, and more than 50% of passenger volumes from its scrapped Troon to Larne route have been retained on its crossing from Cairnryan.
The Mortgage Lender sets sights on specialist market: Specialist mortgage business The Mortgage Lender has signed off on its first loan weeks after moving into its new headquarters on Glasgow’s Waterloo Street.
Harper Macleod eyes growth in Inverness with local firm bolt-on: Glasgow law firm Harper Macleod has continued to grow its business in the Highlands and Islands with the addition of two-partner Inverness firm Allen & Shaw.
Sainsbury’s sales expected to be hit by Argos deal and supermarket price war: Sainsbury’s is forecast to report another dip in sales when it unveils second quarter results next week, with the City also looking for any further news of cost savings linked to its acquisition of Argos.
The Scotsman
Surveyor Malcolm Hollis builds up practice with capital hiring: Malcolm Hollis, the independent commercial building surveying firm, has expanded its team with the appointment of Ewan Wyllie at its Edinburgh office.
Tsunami Axis riding the crest of a wave: The Scottish arm of office furniture supplier Tsunami Axis has clocked up a record-breaking quarter, further highlighting the buoyancy of the workplace market north of the Border.
BBC Alba future in balance warns operator: Scotland could lose its dedicated Gaelic channel and see a decline in the use of the language unless BBC Alba wins a better financial deal, its operator has warned.
BBC admits need for new Scots shows: BBC Scotland Chiefs have admitted they are unhappy with the number of high-quality drama and comedy shows being made north of the border.
City A.M.
People still trust brick-and-mortar branches more than digital banks: Digital banking has surged in popularity over the last few years, but research out also shows many still won’t trust a lender without a brick-and-mortar presence.
Banks warned over fintech payment firms: The world’s biggest banks risk losing control of digital payments to small fintech startups and global tech giants, the Boston Consulting Group (BCG) has warned.
Credit Suisse banker to found independent advisory firm: One of the top European bankers at Credit Suisse is quitting the bank to launch his own advisory firm.
SABMiller and AB InBev wait with bated breath for £79 billion megabrew deal ahead of SAB shareholder votes on Wednesday: SABMiller investors will cast their votes this week on a deal which, if passed, will be the U.K.’s largest ever corporate merger.
Sports Direct’s property aide jumps ship months after Mike Ashley appoints his daughter’s boyfriend to run property portfolio: Sports Direct’s top property lawyer has jumped ship after Mike Ashley hired his daughter’s boyfriend to run the retailer’s property portfolio.
