MARKET BUZZ
18 Aug
Friday newspaper round-up: Brexit deals, White House, productivity, Cuadrilla
noticias

EU migrants will be barred from claiming in-work benefits unless they have been employed for at least four years after Brexit under plans to revive a pledge by David Cameron. Ministers are understood to be examining plans to bar migrants who arrive in the UK after March 2019 from claiming in-work benefits unless they have worked in the UK and "contributed" for four years. - The Telegraph.

Read full story
17 Aug
Thursday newspaper round-up: Libor lawsuit, UK shale, freedom of movement
noticias

The US government has filed what could be the largest Libor scandal-related lawsuit yet against some of Britain’s biggest lenders, alleging that their role in rigging borrowing rates had played a part in the collapse of American banks once worth more than $400 billion. The Federal Deposit Insurance Corporation has begun a High Court claim against banks including Barclays, Lloyds Banking Group and Royal Bank of Scotland, alleging that they colluded to hold down borrowing rates for several years, a practice known as “lowballing”, to give the market a false idea of their financial health.

Read full story
16 Aug
Wednesday newspaper round-up: Help to Buy, Brexit, China, Easyjet, Glencore
noticias

The number of first-time buyers is increasing rapidly because of the support of the government’s Help to Buy scheme and ultra-low mortgage rates. First-timers borrowed £5. 9 billion in mortgages in June, up by 26 per cent compared with May and 9 per cent on June last year. This equated to 36,000 loans, a rise of 22 per cent from the previous month, according to UK Finance, the trade organisation. - The Times .

Read full story
15 Aug
Tuesday newspaper round-up: Brexit customs deal, Sainsbury's, stamp duty
noticias

David Davis, the Brexit secretary, is expected to set out more clearly the government’s hopes for a future customs deal with the European Union this week, to help inform the next round of Brexit negotiations. With Theresa May not expected to return to her desk in Downing Street from her holiday until Thursday, the government is keen to show that preparations for Brexit have not ground to a halt. - Guardian.

Read full story
14 Aug
Monday newspaper round-up: Consumer slowdown, retail squeeze, Pru, SMEs
noticias

Businesses and investors are braced for a spending slowdown as those who have kept up a shopping spree in the last year run out of “borrowed time and borrowed money”. Households have continued to spend since the Brexit vote, helping drive up sales among retailers and supermarkets already benefiting from a windfall created by the devaluation of the pound. - Telegraph.

Read full story
13 Aug
Sunday newspaper round-up: Credit crackdown, L&G, real wages, BT, BHP
sundays

Lloyds Banking Group has shortened the terms of some of its zero per cent balance transfer deals in a sign that banks are responding to a Bank of England crackdown. Earlier this year Lloyds was offering a Halifax-branded card giving customers 43 months interest free – a market-leading rate. The equivalent card today has been pegged back to 38 months. - Mail on Sunday.

Read full story
11 Aug
Friday newspaper round-up: Eggs, Mortgage Arrears, Asda
0cb1153

Four supermarkets have withdrawn products from their shelves as it emerged that 700,000 eggs from Dutch farms implicated in a contamination scare had been distributed to Britain. The Food Standards Agency said the number of contaminated eggs estimated to have reached the UK was far higher than the 21,000 first supposed, and that egg salads from Sainsbury’s, Morrisons and Asda, sandwiches from Morrisons, and sandwich fillers from Waitrose had been withdrawn. - The Guardian.

Read full story
10 Aug
Thursday newspaper round-up: North Korea, Telit Communications, Johnston Press
Corea Norte Portada

North Korea has defied threats of “fire and fury” from Donald Trump, deriding his warning as a “load of nonsense” and announcing a detailed plan to launch missiles aimed at the waters off the coast of the US Pacific territory of Guam. A statement attributed to General Kim Rak Gyom, the head of the country’s strategic forces, declared: “Sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on him”.

Read full story
09 Aug
Wednesday newspaper round-up: South Africa, North Korea, Retired households
south Africa

President Zuma was left humiliated and enfeebled last night by a major revolt within his own party after at least 30 stalwart MPs were believed to have turned against him in a vote of no confidence in his leadership. The South African leader survived the overall motion with 198 votes supporting him in parliament against 177 who wanted him to step down. Nine MPs abstained in the secret ballot. - The Guardian .

Read full story
08 Aug
Tuesday newspaper round-up: Hiring, leaseholds, energy costs, Global Blue
noticias

The booming jobs market shows no signs of abating, according to figures from recruitment agencies that show the fastest rise in jobs placements for more than two years. Companies shrugged off Brexit uncertainty to increase their permanent staff headcount last month at the quickest pace since April 2015, while temporary hires rose at the fastest rate in almost two and half years. - The Times.

Read full story
07 Aug
Monday newspaper round-up: PL auction, consumer spending, construction, Shell
noticias

The executive chairman of the Premier League has indicated that the door is open for online giants to end the reign of BT and Sky and show live matches across the UK for the first time. Richard Scudamore insisted that there was “no ceiling in sight” after the pair spent £5. 14 billion on three seasons of rights in 2015. The league is “technology-neutral” as it prepares to auction the next batch, he said, amid growing expectation that Amazon, Twitter and Facebook could enter the race.

Read full story
07 Aug
Sunday newspaper round-up: Sainsbury's, Brexit, Arqiva IPO
glencore

Sainsbury’s is taking the axe to more than 1,000 jobs at its head office as part of a giant £500m cost-cutting drive. It is understood that a team of top consultants from McKinsey have been parachuted into the supermarket’s headquarters to draw up a staff reduction plan. - The Sunday Telegraph.

Read full story
04 Aug
Friday newspaper round-up: Julius Baer, Brexit, L&G, British Gas
noticias

A Swiss bank that accepts only customers with at least £2m of assets is defying Brexit with plans to expand in the UK through new offices in Manchester, Leeds and Glasgow. Julius Bär will also put a small team in Belfast as it ventures beyond its UK operations in London. It is expected to hire 30 financiers for the new locations. - Guardian.

Read full story
03 Aug
Thursday newspaper round-up: FTSE 100 pay, energy companies, Tesla
noticias

Ordinary employees would have to work for 160 years to earn the average remuneration of FTSE 100 chief executives in 2016, according to new research. The average take home pay for the bosses of Britain’s top stock market-listed companies was £4. 5m last year, according to the High Pay Centre’s annual survey of top executive pay. This compares to Office for National Statistics figures showing average annual earnings of £28,200 for full-time employees in the year to April 2016.

Read full story
02 Aug
Wednesday newspaper round-up: Britain's economy, Saudi Aramco, AA, Apple
noticias

Britain’s economy will surge back to life in the next six months following its slow start this year, a leading forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection. The National Institute for Economic and Social Research (NIESR) said a boom in exports after the fall in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to almost 2% and convince the central bank to increase the cost of borrowing.

Read full story
01 Aug
Tuesday newspaper round-up: Housing, trade deals, RPI, BoE Brexit
noticias

The housing crisis is set to worsen for young people already priced out of the property market as growing numbers of landlords refuse to rent to people under 35, according to research. A study by Sheffield Hallam University found that one third of landlords were cutting back on renting to under-35s. Concerns over younger people’s ability to pay encourages landlords to look for older and more secure tenants. - The Times.

Read full story
31 Jul
Monday newspaper round-up: Brexit, estate agents, Prudential, motoring
noticias

Britain will not slash taxes and regulations after Brexit to undercut European rivals, Philip Hammond has said. In a marked softening of tone, the chancellor said that Britain’s social, economic and cultural model would remain “recognisably European” after it left the EU. - The Times.

Read full story
28 Jul
Friday newspaper round-up: Sports Direct, Amazon, Branson
noticias

Mike Ashley’s Sports Direct has increased its stake in French Connection to 27%, taking it close to a level at which it must launch a takeover bid. Sports Direct has bought out activist investors, including Gatemore Capital Management – a London-based hedge fund that had an 8% stake – and OTK, an investment firm that owned about 7%, to add to an existing 11% stake. – Guardian.

Read full story
27 Jul
Thursday newspaper round-up: Housing market, car makers, Facebook, retailers
noticias

Ten years on the housing market is still feeling the after-effects of the credit crunch, with existing homeowners struggling to trade up, a doubling of typical first-time buyer deposits, and a “huge gap” between London and the rest of Britain, according to a new report. Property company Savills has found that the global financial crisis – which it considers to have started on 9 August 2007, when the French bank BNP Paribas froze three investment funds – is “still shaping the UK housing market” and will continue to cast its shadow over the sector for years to come.

Read full story
26 Jul
Wednesday newspaper round-up: Cars, tax havens, Metro Bank, Unilever
noticias

As part of a government strategy to improve air quality, Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health. The commitment, which follows a similar pledge in France, is part of the government’s much-anticipated clean air plan, which has been at the heart of a protracted high court legal battle. - Guardian.

Read full story