Friday newspaper round-up: World Bank, Tata Steel, FTSE pay

Michele Maatouk Sharecast | 21 Apr, 2017 07:19 | | |

noticias

The president of the World Bank has told Theresa May that cutting the UK’s aid budget could lead to an increase in conflict, terrorism and migration and would damage Britain’s international reputation. In a strongly worded response to reports that the government was considering dropping its commitment to devote 0.7% of national income to aid each year, Jim Kim said the money the UK provided was vital not just for developing countries but for the future of the world. - Guardian

Tata Steel could pay more than £500m into its UK pension scheme as part of a deal with regulators that involves the Pension Protection Fund taking a stake in the business. The Indian-owned company needs to find a solution to its pension scheme to secure the future of its UK operations, which employs 8,000 workers and includes the Port Talbot steelworks in south Wales. Tata Steel is trying to hive off its historic liabilities before merging its European steel operations with German company ThyssenKrupp. – Guardian

Pay for chief executives at Britain’s biggest companies is on the decline as a fresh wave of shareholder activism appears to be driving restraint. Analysis of the first 40 blue-chip businesses to publish their remuneration reports has revealed that 42.5pc of their bosses did not get a salary increase this year. Consultancy PwC examined remuneration documents of the FTSE 100 businesses to get a snapshot of how pay policy is shaping up. – Telegraph

The Bank of England is moving further away from its hopes to see more women in top jobs, with Mark Carney's former adviser Jenny Scott the latest senior female executive to leave the Bank. Ms Scott, who was an adviser to the governor for a year before becoming the Bank's executive director of communications in 2014, is leaving at a sensitive time for the central bank, which has faced fresh criticism over its lack of senior female staff following a string of exits. – Telegraph

Christine Lagarde has called on countries to pull together in the fight against a damaging retreat into protectionism amid mounting evidence that a global trade war is already under way. The managing director of the International Monetary Fund said there had been a worrying increase in the number of trade violations over the past two years and described the apparent breakdown in relations between countries as “an issue that needs to be addressed”. -The Times

BT will be forced to open up its broadband network to rivals, making it cheaper and easier for them to build competing fibre networks to homes, under plans set out by Ofcom yesterday. In a move designed to boost competition and offer consumers faster and cheaper internet access, including full fibre connections to their living rooms, the industry regulator said new rules would be introduced next year. – The Times

More news

23 Jun Capital Economics sees limited upside for FTSE 100 in 2017 (and next)

The UK economy's performance will continue to exceed forecasts but multiple headwinds will just about brake any further gains in the FTSE 100 in 2017, analysts at one of the City's top research shops said.

23 Jun US oil rig count keeps climbing, Baker Hughes says

The number of oil rigs in operation in the US continued to climb last week, increasing by 11 to 758, according to the results of the most widely-followed survey tracking them.

23 Jun FX round-up: Sterling gains on dollar thanks to UK policy hawks coming to fore

Sterling managed Friday gains on the US dollar thanks to UK monetary policy hawks coming to the fore in recent days, but was otherwise down against a raft of commodity currencies.

23 Jun Europe close: Stocks end off lows as oil futures perk up

Stocks came off their worst levels of the day as crude oil futures perked up and trading on Wall Street got off to a positive start.

23 Jun London close: FTSE labours through Friday as sterling gains on underwhelming dollar

Stocks in London laboured through Friday as sterling made gains against an underwhelming US dollar a day after PM Theresa May met with European leaders in Brussels.

23 Jun US open: Stocks edge higher at the end of the week

Gains for steel and biotech shares saw Wall Street edge higher amid better than expected economic data and some dovish Fedspeak.

23 Jun Price pressures grow in US in June, PMIs show

Private sector firms in the US continued to record a solid rate of expansion amid signs that economic growth might pick up again, the results of a widely-followed survey showed.

23 Jun US new home sales beat forecasts in May, prices jump

Activity in America's residential real estate market continued to hum along at a solid pace last month, the latest official revealed, amid sharp price increases.

23 Jun Avingtrans gets extension on possible Hayward Tyler bid

Hayward Tyler updated the market on its discussions with Avingtrans on Friday, regarding the possible offer by Avingtrans for the company as announced on 31 March.

23 Jun BMR raises £0.35m as Kabwe plant construction progresses

BMR Group announced on Friday that Peterhouse Corporate Finance had raised £0.35m - before expenses - by way of a placing of 9,333,333 new ordinary shares of 1p each in the capital of the company, at 3.75p per share.