Friday newspaper round-up: Global confidence, apprentices, BP, sugar
A blizzard of weak economic data from across the world has begun to infect global confidence, indicating that surging loan costs and monetary tightening by major central banks are inflicting damage. JP Morgan’s composite index of global economic growth fell abruptly to a 16-month low in March. While it remains in expansion territory, the steepness of the drop matched the slide in early 2016 at the onset of the Chinese currency crisis. - Telegraph
US President Donald Trump has said he would take a serious look at policies to address what he says are the unfair business advantages of online retailer Amazon. Speaking to reporters while travelling back to Washington from West Virginia on Air Force One, he accused Amazon of not operating on a level playing field. - Telegraph
The Government’s flagship apprenticeship scheme could end up cost businesses millions of pounds, a report has found. More than £1.28 billion of the cash that has been paid into the apprenticeship levy by companies is “languishing” in National Apprenticeship Service accounts, according to analysis by the Open University. - Telegraph
Housebuilders have bought land for £1bn worth of homes in the latest phase of the development of the new Government-backed garden city at Ebbsfleet - the largest land purchase since the project's inception. Countryside Properties, Clarion Housing Group and Barratt have struck a deal to buy land for 2,900 homes from landowner Henley Camland, which confirmed it had taken over the sites from original owner Land Securities just last week. - Telegraph
The owner of the New York Stock Exchange is to buy its much smaller rival, the Chicago Stock Exchange, in a deal thought to be worth $70 million. Intercontinental Exchange, which owns the New York exchange, announced the deal yesterday, six weeks after American regulators blocked the sale of the 136-year-old Chicago exchange to China-based investors. - The Times
Petrofac’s chief executive was given a $1m bonus last year despite slashing the dividend and presiding over a 41% collapse in its share price after the company was hit by a Serious Fraud Office investigation. Ayman Asfari, who has been questioned under caution as part of the investigation into alleged bribery, corruption and money laundering, was paid a total of $1.95m in 2017, up from $1.82m in 2016 because of the bonus. He denies any wrongdoing. - The Times
Sainsbury's is planning to punish customers for shopping at other supermarkets through a major change to its Nectar card. The supermarket is trialing an overhaul of the system where customers no longer receive a point for each pound spent, but instead receive larger rewards the more they shop at Sainsbury's. - Telegraph
The Government’s sugar tax has prompted the manufacturers of most leading soft drinks to cut sugar, with more than half of all soft drinks have been reformulated since the policy was announced. The vast majority of soft drinks and dilutable squashes sold in the UK will avoid the sugar tax, which comes in on Friday, according to a survey of major drink brands and supermarkets. Exceptions which will be hit by the new tax and therefore rise in price, include classic Coca-Cola, Pepsi, 7Up and Britvic Indian Tonic Water. - Telegraph
Anglo American has been fined by a regional environmental regulator in Brazil for a leak from its Minas Rio iron ore mine. Semad said the leak “caused pollution and environmental degradation that resulted in damage to water resources and may have caused harm to public health and the wellbeing of the population”. - The Times
BP is used to fielding complaints from shareholders at its annual general meeting over executive pay, its environmental record and the quality of the free lunch. Now the oil giant is risking the ire of regular guests on a new front after breaking with tradition and deciding to hold its meeting outside London.
Broadband speeds in rural areas are up to three times slower than those in neighbouring cities, analysis has found. Statistics published by the county councils network show that more than two-thirds of England's counties are below the national average download speed of 45mbit/s. - Telegraph