The Times
Barclays Africa sale savaged by big investor: Barclays has come under attack from a long-term shareholder for deciding to sell its African business and rebuild its investment bank.
Baltic Exchange prepares to repel foreign boarders: Opposition is growing to an attempted takeover of the Baltic Exchange by bidders in the Far East amid concerns that new Owners might increase the price of its services.
Chinese oil group steps into Scotland: A Chinese oil and gas technology business is setting up a base in Scotland. Ires-Geo Technology expects to create up to ten jobs at its office at Heriot-Watt University’s research park on the outskirts of Edinburgh.
Tesla aims to electrify car-buying experience: Tesla, the high-technology maker of electric-only luxury cars, is rolling out showrooms in upmarket streets and shopping centres across Britain, in an attempt to attract a wider range of buyers, particularly women.
Ocado Chief orders a divorce, but at what price?: The Founder of Ocado might be forced to sell part of his multimillion-pound stake in the company in a divorce battle.
Average house price soars above £300k: The average asking price of a home in England and Wales has broken the £300,000 barrier for the first time.
It’s quicker to build homes in cities than on green belt: New homes are built far more quickly on previously developed land than in open countryside, according to research that contradicts claims that the landscape must be sacrificed to solve the country’s housing crisis.
Overworked HMRC won’t snare as many tax dodgers as it had hoped: Eyes peeping through a ripped map of the world in an advertising campaign and George Osborne’s warning that the “government is coming after you” promised a clampdown on tax avoiders.
Osirium shuns private equity in £4 million flotation: The rush of technology companies on to the junior Aim market has continued with a cyber security company revealing plans to raise £4 million via a float.
The Independent
PricewaterhouseCoopers accused of conflict of interest in development role: Big Four accountant PricewaterhouseCoopers has been accused of “a very serious conflict of interest” in its role as an adviser to the Department for International Development (DfID).
China central bank Boss sounds debt alarm: China’s central bank governor has added to the chorus of high-level alarm in Beijing over the country’s still fast-rising corporate debt burden.
Brexit could blow a £100 billion hole in the U.K. economy and cost up to 950,000 jobs, CBI warns: Leaving the European Union could blow a £100 billion hole in the U.K. economy and cost up to 950,000 jobs, the CBI has warned, in what is easily the most pessimistic economic forecast yet of the implications of Brexit.
Financial Times
Luxury carmakers eye South Korea market: South Korea is becoming an important market for Europe’s luxury carmakers, as the country’s rich seek to stand out from the crowd by buying imported vehicles from marques such as Audi, Mercedes-Benz and Maserati.
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Rise in minimum wage to bypass 1.7 million self-employed: More than 1.7 million workers will miss out on next month’s increase in the U.K. minimum wage because it does not apply to the self-employed, according to new research by the Social Market Foundation.
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Crispin Odey loses 20% for second time in a year: Crispin Odey, the outspoken London hedge fund Manager, made a 22% loss in his €1 billion Odey European fund in the first two weeks of March as a number of big bets went against him.
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Debt concerns played role in HSBC location decision: One of the biggest costs identified by HSBC when assessing a potential move of its headquarters out of the U.K. was the more than $1 billion hit it faced to refinance its debt.
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Carmignac European equities Chief resigns: The head of European equities at Carmignac Gestion, whose personal investments were the subject of an internal probe, has resigned from the €52 billion French asset Manager.
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Cinven eyes struggling German life insurance market: Private equity group Cinven is planning a raid on one of the least fashionable parts of the insurance world. The firm is aiming to buy up books of life insurance business in Germany, where a combination of generous promises and low interest rates have left many insurers looking at a bleak future.
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Telecom Italia’s Patuano to quit after Bollore tussle: Marco Patuano, Chief Executive of Telecom Italia, is set to quit after a bust-up with Vincent Bollore allowing the French corporate raider and Vivendi’s biggest shareholder to tighten his grip on Italy’s biggest telecoms group.
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Lex:
Toshiba/Hitachi: not so different: Toshiba hopes that simplifying its business is the best route to recovery from an accounting scandal that broke last year. The technology giant’s shares rose on recent news that it would sell its medical equipment unit to Canon for Y665 billion ($6 billion) — money badly needed at a company expected to post a net loss of Y710 billion for the current fiscal year.
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The Daily Telegraph
U.K. blue-chip firms told to stop reporting every quarter: The U.K.’s biggest institutional investors are to demand FTSE 100 companies stop quarterly reporting as part of a radical shake-up of how shareholders interact with their investments.
Dyson to invest £1 billion into making batteries better: Dyson will invest £1 billion in developing new battery technology by 2020 as the business best known for its vacuum cleaners branches out into new areas.
Angle unveils promising results for ground-breaking prostate cancer test: Aim-listed medical technology company Angle has hailed as “transformational” the results of a pilot study into a device it has developed that can detect and capture cancer cells in patients using a simple blood test.
Private equity firm ECI gobbles up gastro pet food company MPM: The pet lovers behind a dog food recipe that’s also fit for humans have sold a majority stake of their business to private equity firm ECI for around £50 million.
Rolls-Royce to reassure MPs over its commitment to U.K. as it adds 350 jobs in Derby: Rolls-Royce is to add up to 350 jobs at its Derby base as the engineering giant gears up production of its TrentXWB engine.
Jim Mellon-backed cancer drug company SalvaRx launches on Aim: Failed Polish oil and gas investor 3Legs will relaunch on the junior market as a cancer drug company backed by multi-millionaire investor Jim Mellon.
Liberty set to announce deal to buy Tata’s Scottish sites: A deal to save hundreds of steel jobs put in jeopardy by Tata’s wide-ranging cuts last year is expected to be agreed in the next few days.
Moorfields Eye Hospital’s historic HQ hits the market: The NHS trust which runs Moorfields Eye Hospital in London has launched the sale of its 117-year-old east London headquarters.
The Guardian
Majority fears future generations ‘will never be able to buy a home’: A large majority of people in Britain fears that future generations will never be able to buy or rent a home to settle down in.
U.K. supermarkets urged to stock more British lamb: Farmers have called on retailers to do more to support the British lamb industry, with only one supermarket chain selling entirely U.K.-grown lamb for Easter.
Alton Towers ride reopens despite protests: Alton Towers reopened its main rollercoaster ride on Saturday, nine months after a crash that caused appalling injuries to five passengers.
BA and easyJet hit by delays after French air traffic control strike: Hundreds of passengers flying with easyJet and British Airways face flight cancellations over the next three days due to industrial action by French air traffic control employees.
Roger Agnelli, banker who built Vale into mining giant, ‘dies in Brazil plane crash’: Roger Agnelli, the Brazilian banker who turned Vale into one of the world’s biggest mining companies, has died in a plane crash. He was 56.
Daily Mail
Bank of England could be forced to cut interest rates to combat low inflation and kick-start economy, according to official forecasts: The Bank of England could be forced to cut interest rates to combat low inflation and kick-start the economy, according to official forecasts.
Stock Exchange could ask shareholders to vote on controversial £21 billion merger with Frankfurt rival before EU referendum on June 23: The London Stock Exchange could ask shareholders to vote on its controversial £21 billion merger with its Frankfurt rival before the EU referendum on June 23.
Analysts claim up to 330 Argos stores could shut if Sainsbury’s seals £1.4 billion takeover of Home Retail Group: Up to 330 Argos stores could shut if Sainsbury’s seals its £1.4 billion takeover of Home Retail Group, analysts claim.
Discount retailer Aldi to hire 700 apprentices this year – nearly double amount it took on last year – as it steps up assault on supermarkets: German discount retailer Aldi plans to hire 700 apprentices this year – nearly double the amount it took on last year – as it steps up its assault on Britain’s supermarkets.
Profits more than double at Porterbrook, the leasing company that supplies rolling stock to train operators: Profits have more than doubled at Porterbrook, the leasing company that supplies rolling stock to train operators including Great Western, Southern Rail and South West Trains.
Daily Express
Thousands will struggle if mortgage rates rise: One in five mortgage holders would be forced to make spending cutbacks if interest rates started rising – and one in 14 would seriously struggle to cope, a report has found.
Osborne is facing new deficit shock: Chancellor George Osborne could miss his revised deficit reduction target for the year, just days after it was changed in the Budget, according to new data.
The Scottish Herald
Dell outlines its commitment to Scotland: Computer systems and support group Dell has pledged to continue growing its businesses in Scotland.
Technology fuelling low oil price environment: The rise of technology like electric cars and solar panels means low oil prices could be here to stay, according to a Scottish investment expert.
Warning: Scottish companies at risk of being left behind amid phenomenal global e-commerce growth: Scottish companies are already at risk of being left behind amid “phenomenal” growth in global e-commerce, with U.K. hotspots for such activity having developed in London and the Midlands, a leading business organisation has warned.
The Scotsman
ScotRail train drivers win 4.6% pay rise: Train drivers at ScotRail have won an inflation-busting pay deal worth 4.6% over the next two years, The Scotsman has learned.
Next braced for tough season as festive sales fall: High street bellwether Next is likely to disappoint on profits this week, prompting concerns that the fashionx sector might be in for another tough season.
U.S. chain Starwood signs historic deal to run 3 Cuban hotels: U.S. chain Starwood has signed a deal to renovate and run three Cuban hotels, returning U.S. firms to the island more than 50 years after American hotels were taken over in Fidel Castro’s socialist revolution.
City A.M.
The so-called flat white economy has overtaken finance and retail: The U.K.’s digital economy, which has made a home for itself in East London is driving the country’s economic growth, according to new research published by a think tank.
Rightmove: Cheapest boroughs fuel 11% rise in London house prices as one agent warns it now takes 46 years to save for a deposit: London house prices have climbed 11% over the last 12 months, with the cheapest boroughs rising at the most rapid rate.
City financier Edi Truell to step down from board of Tungsten: Venture capitalist Edi Truell is due to step down from the board of e-invoicing group Tungsten Corporation, after offering to buy its assets.
Ryanair slams French air traffic controller unions as “selfish” for striking and calls for ban on industrial action: Budget airline Ryanair has hit out at French air traffic controller (ATC) unions over strikes that have seen hundreds of flights cancelled across Europe.
BT plays catch up to Sky over on-demand TV: Telecoms giant BT is looking into gaining further control over on-demand TV service YouView from TalkTalk in an attempt to build up its market share of the premium TV industry and catch leader Sky.
Bank lending to property developers halves in just two years to £16 billion: Bank lending to property developers has halved over the last two years, making it more difficult for companies to kick-start schemes that could help ease the housing crisis, a new report out claims.
