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  • Wednesday newspaper round-up: Sainsbury's, Rio Tinto, Monarch

    Wednesday 18 Oct 2017

    (ShareCast News) - Sainsbury's is axing 2,000 store and back office roles as the supermarket chain looks to slash costs by £500m amid an intensifying price war with Aldi and Lidl. The retailer is restructuring its HR departments, getting rid of 1,400 store-based clerks and another 600 staff based in the back offices that serve the chain as well as Argos and Sainsbury's bank. - Guardian

  • Tuesday newspaper round-up: Brexit dinner, Spain, Interserve, Lloyds

    Tuesday 17 Oct 2017

    (ShareCast News) - Theresa May's hopes of breaking a deadlock in Brexit talks appeared to be given a boost after she and Jean-Claude Juncker agreed to "accelerate" negotiations. The Prime Minister flew out to dinner with Mr Juncker, the President of the European Commission, after a Brexit charm offensive with other EU leaders ahead of a summit on Thursday. - Telegraph

  • Monday newspaper round-up: Missing £490bn, May to Brussels, Chancellor's plans

    Monday 16 Oct 2017

    (ShareCast News) - Global banks and international bond strategists have been left stunned by revised ONS figures showing that Britain is £490bn poorer than had been ­assumed and no longer has any reserve of net foreign assets, depriving the country of its safety margin as Brexit talks reach a crucial juncture. A massive write-down in the UK balance of payments data shows that Britain's stock of wealth - the net international investment position - has collapsed from a surplus of £469bn to a net deficit of £22bn. This transforms the outlook for sterling and the gilts markets. - Telegraph

  • Sunday newspaper round-up: Saudi Aramco, IMF, new pound coins, Bank of England, EDF

    Sunday 15 Oct 2017

    (ShareCast News) - Britain's largest investors have turned up the heat on the City watchdog over its controversial plan to allow Saudi Arabia's state-owned oil giant to float in London. The Financial Conduct Authority (FCA) has proposed bending stock market rules to accommodate Saudi Aramco, which is aiming to go public next year in a mooted $2 trillion deal. However, the Investment Association, the lobby group for fund managers, has warned the FCA that any changes could damage London's status as a global financial centre. - The Sunday Times

  • Thursday newspaper round-up: National living wage, energy prices, London fintech

    Thursday 12 Oct 2017

    (ShareCast News) - More than 300,000 people on low incomes were given a pay boost by the government's new "national living wage", dispelling fears that the move to raise minimum salary levels would trigger widespread job losses. The Resolution Foundation said Britain had experienced its biggest fall in low pay since the 1970s following the introduction of the national living wage (NLW), which imposes a floor of £7.50 an hour for employees aged 25 and over. The thinktank found that 5.1 million or 19% of workers were low-paid, down from 5.4 million, or just under 21%, last year, bringing the share of employees who are low-paid below one in five for the first time since the 1980s. - Guardian

  • Wednesday newspaper round-up: Tesco, energy, RBS, Monarch

    Wednesday 11 Oct 2017

    (ShareCast News) - The sheer scale of supermarket firm Tesco meant the financial picture could change "overnight", a court has heard. Nicholas Purnell QC, for the defence, gave the example of March 2014 when the finance team forecast a monthly sales shortfall of £108m versus internal targets for the UK food business - only for that figure to be reduced by £32m some 24 hours later. - Guardian

  • Monday newspaper round-up: ONS error, Brexit talks, BT, Just Eat

    Monday 09 Oct 2017

    (ShareCast News) - Pressure on the Bank of England to raise interest rates may be building more rapidly than first thought after a mistake by the Office for National Statistics led to domestic inflation being understated. On Friday, the ONS published an error in one of the critical data points used by the Bank of England to gauge domestic price pressures. In a correction to be released today, the nation's official statisticians are expected to reveal that companies' employment costs have been rising faster than previously believed. - The Times

  • Sunday newspaper round-up: RBS, gambling, Brexit, Centrica, Mirror, EIS

    Sunday 08 Oct 2017

    (ShareCast News) - Royal Bank of Scotland has been accused of pursuing "unrealistic" business lending targets that risk incentivising reckless lending. The taxpayer-owned bank, which is under intense political pressure to boost support to the economy, has set strict targets for small and medium-sized enterprise lending to its around 800 lending managers, who are each expected to lend close to £2m a year. - Sunday Telegraph

  • Friday newspaper round-up: OBR, Brexit, Tory coup, energy cap, Tesco

    Friday 06 Oct 2017

    (ShareCast News) - A severe revision to UK growth forecasts will drastically cut Phillip Hammond's wiggle-room in the upcoming Budget. A dramatic over-estimation of the UK's productivity levels over the past seven years by fiscal watchdog, the Office of Budget Responsibility (OBR), means the Chancellor of the Exchequer's room for spending could be reduced by as much as two-thirds. - Telegraph

  • Thursday newspaper round-up: Tesco, Airbnb, Merlin Entertainments, Royal Mail

    Thursday 05 Oct 2017

    (ShareCast News) - A top official at the Bank of England has warned the government it has less than 12 weeks to agree a transition deal with the EU to prevent City firms starting to move jobs and business out of the UK. Sam Woods, a deputy governor at the Bank, said City firms would activate their Brexit contingency plans if there was no deal on a transition period by Christmas which would mitigate the impact of a hard Brexit in March 2019. Woods also repeated his warning of the strain being put on the Bank's ability to police the financial sector as a result of the changes firms needed to make. - Guardian

  • Wednesday newspaper round-up: Betting shops, Royal Mail, Uber, Tesco

    Wednesday 04 Oct 2017

    (ShareCast News) - Only a fifth of households can afford to buy the average new home in the south-east of England, according to research, which said affordable properties in the region should cost no more than £250,000. Savills, the property firm, said the housebuilding industry was on track to deliver the government's target of 1m new homes by 2020 - but there remained an annual shortfall of 104,000 homes in the areas with the highest demand, London and the south-east. - Guardian

  • Tuesday newspaper round-up: Brexit Secretary, banks, Monarch, G4S

    Tuesday 03 Oct 2017

    (ShareCast News) - David Davis plans to retire in 2019 and leave Boris Johnson to steer the UK through the transitional period. The Brexit secretary told friends that Michel Barnier, the EU's chief negotiator, "needs this to work more than I do" because he plans to step aside in June 2019 whereas Mr Barnier will still be in post. - Telegraph

  • Monday newspaper round-up: Catalan fallout, Monarch, EU banks, Nisa

    Monday 02 Oct 2017

    (ShareCast News) - Riot police who bludgeoned, kicked and fired rubber bullets at voters taking part in an illegal referendum in Catalonia yesterday acted within the law, the Spanish prime minister said. In a day of violence unprecedented in modern Spanish history, 850 people were hurt, three seriously, according to the Catalan authorities. Riot police fired baton rounds in Barcelona and beat pro-independence supporters trying to stop them confiscating ballot boxes. - The Times

  • Sunday newspaper round-up: Monarch, Tesco, 2 Sisters, Bank of Scotland, John Laing

    Sunday 01 Oct 2017

    (ShareCast News) - Budget holiday airline Monarch was last night locked in talks in a bid to avoid collapse, after fears grew that it may have its tour operator licence revoked. The aviation watchdog was yesterday chartering planes to cover the risk that up to 100,000 passengers may be stranded abroad, with KPMG on standby to handle a potential administration. Ministers have held meetings over the fate of the airline in recent days, amid fears that its stretched finances and tough trading will push it over the brink. - The Sunday Times

  • Friday newspaper round-up: Business confidence, Brexit, chicken scandal, BT

    Friday 29 Sep 2017

    (ShareCast News) - Business confidence is rising but still at its second-lowest level this year, according to the latest survey from Lloyds Bank's business barometer. Britain's biggest high street lender said that the reading rose by six points this month to 23 per cent. Economic confidence among businesses surveyed rose by 7 points to 12 per cent, though this was also at the second-lowest level this year. - The Times

  • Thursday newspaper round-up: Ryanair, Bombardier, Superfunds

    Thursday 28 Sep 2017

    (ShareCast News) - Ryanair is facing enforcement action from the Civil Aviation Authority for "persistently misleading passengers" about their rights, piling more woe on the no-frills carrier as it announced a second wave of flight cancellations that will affect 400,000 people. In a letter to the Dublin-based airline, the CAA said chief executive Michael O'Leary was wrong to tell passengers last week that it did not have to arrange new flights for them after an initial batch of cancellations were announced. - Guardian

  • Wednesday newspaper round-up: Imagination, Bombardier, Google, EU pensions

    Wednesday 27 Sep 2017

    (ShareCast News) - The Chinese takeover of Imagination Technologies was mired in confusion last night as the bidding vehicle, a Silicon Valley-based private equity fund, struggled to recover from claims that ministers could intervene. Speculation is growing that the government will look into the £550 million deal amid fears that another leading British technology company will fall into foreign hands, with some onlookers citing national security issues and talk that Imagination's computer chip science could be utilised in Chinese military programmes. - The Times

  • Tuesday newspaper round-up: Brexit talks, PFIs, ARM, easyJet

    Tuesday 26 Sep 2017

    (ShareCast News) - The Brexit secretary, David Davis, and the EU's chief negotiator, Michel Barnier, have clashed over the UK's exit bill and Britain's request for a transition period after Theresa May's speech in Florence last week failed to unlock the stalemate in negotiations. On the first day of the fourth round of talks, Barnier said the prime minister's €20bn (£17.6bn) offer did not mean the UK would be given a transition period or that negotiations could move on to the detail of a future trading relationship. - Guardian

  • Monday newspaper round-up: Credit report, Uber, drug spat, Canyon Bridge

    Monday 25 Sep 2017

    (ShareCast News) - Britain's biggest banks are braced for new restrictions on consumer lending as the Bank of England today prepares to unveil the results of its review of the booming sector. Credit cards, unsecured loans and car finance deals have all surged in popularity over the past year, leading Mark Carney and his colleagues on the powerful Financial Policy Committee (FPC) to investigate if there are any growing risks in the sector. - Telegraph

  • Sunday newspaper round-up: UK property, Treasury, Brexit, banks, Ladbrokes

    Sunday 24 Sep 2017

    (ShareCast News) - Foreign buyers will face tougher restrictions on purchasing British property under plans being worked up by the Treasury in an attempt to help first time buyers. Policies could be announced within weeks as getting younger Britons on the housing ladder becomes a major part of the Tories autumn political drive. - Sunday Telegraph

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