Tuesday Papers: Barclays charged a second time over Qatar cash
- Financial Times: Barclays has been charged a second time by UK authorities over its 2008 emergency fundraising, raising the stakes for the British bank in its legal battle over the cash injections it arranged from Qatari investors to survive the financial crisis.
- Financial Times: Global stocks began the trading week with an upward spurt, shaking off the recent turmoil and sending the US benchmark S&P 500 higher after it suffered its worst week in over two years.
- The Times: The City regulator’s shambolic handling of its investigation into Royal Bank of Scotland’s restructuring unit took an anarchic twist last night as the confidential report was leaked online.
- The Daily Telegraph: Workers who were employed by Carillion in prisons and on defence bases have been transferred to new providers, saving 4,418 jobs.
- Financial Times: Ant Financial is set to raise around $5 billion in a funding round expected to value the Alibaba payments affiliate at more than $100 billion, according to people familiar with the matter.
Business and economics
- The Times: The strength of the global economy and signs of a pick-up in wage growth in Britain have bolstered the case for higher interest rates, Gertjan Vlieghe, a member of the Bankof England’s rate-setting monetary policy committee.
- The Guardian: MPs have accused the “big four” accountancy firms of “feasting on what was soon to become a carcass” as it emerged they banked £72 million for work linked to collapsed government contractor Carillion in the years leading up to its financial failure.
- The Guardian: Discount grocer Aldi has taken over from upmarket rival Waitrose as Britain’s favourite supermarket according to an influential shopper survey.
- The Times: Strong sales in emerging markets have boosted profits for Heineken, despite unfavourable currency movements taking the fizz out of the Dutch brewer’s full-year results.
- Daily Mail: Vue International is making its first foray into Saudi Arabia just months after a 35-year ban on commercial cinemas was lifted.
- The Times: Accesso Technology has announced a five-year extension to its existing agreement with Cedar Fair Entertainment.
- Financial Times: Puma, the German sportswear maker, says sales will rise more slowly in 2018 after a year of fast growth in which the Adidas rival increased its guidance three times and posted record revenues.
- The Times: Lloyds Banking Group aims to raise the proportion of black, Asian and ethnic minority staff to 8% of its senior managers by 2020.
- The Daily Telegraph: A Network Rail body will add an extra layer of scrutiny to new rail franchise bids to make sure that plans by operators are workable, in the wake of the collapse of the East Coast mainline contract.
- The Times: Acacia Mining has scrapped its dividend for 2017 after Tanzania’s ban on unprocessed gold exports forced it to burn through its cash reserves.
- Daily Mail: Online retail giant Amazon is cutting hundreds of jobs as it focuses on investing in rapidly growing areas such as its voice control assistant, Alexa.
- The Guardian: Donald Trump unveiled a $200 billion plan to fix America’s crumbling infrastructure – a plan that falls woefully short of the trillions civil engineers say is needed to rebuild the country’s tattered backbone and is likely to face intense opposition from Democrats and Republicans.
- The Times: Banks and hedge funds have been ordered to tighten their controls over computer-driven trading, only days after algorithmic trades were blamed for exacerbating stock market falls in the Wall Street sell-off.
- The Daily Telegraph: Facebook's failure to make people aware that it was collecting their data for advertising purposes was illegal, a German court has found.
- The Daily Telegraph: The oil price rally has swung into reverse amid signs that US shale is surging; market jitters have wiped 10pc from the global Brent crude benchmark, knocking it below $64 a barrel on Monday after a heady rise had pushed it a three-year high of $70 last month.
Share tips, comment and bids
- The Times (Tempus share tips): BUY Edinburgh Worldwide Investment Trust; SELL McCarthy & Stone.
- Daily Mail: Energy and engineering services firm Wood Group has clinched a 'multi-million dollar' contract with the oil giant Saudi Aramco, sending the company's shares up 1.75% from 10.6p to 616p.
- The Times: Comcast is considering making a further bid for 21st Century Fox’s entertainment assets; the cable television giant offered at least $60 billion in December for a package of 21st Century Fox’s film, television and international distribution assets, more than the $52.4 billion offered by Walt Disney, but was turned down.
- Financial Times: US private equity group Apollo has teamed up with one of the Netherlands’ largest pension funds PGGM as co-investors to buy a piece of Akzo Nobel’s business as it looks to position itself as a viable Dutch option in a fiercely contested auction.
- Financial Times: General Dynamics, the US defence contractor, has agreed to acquire IT and cyber security group CSRA for $9.6 billion, including debt, as dealmaking in the sector heats up following a series of major hacks in recent years.
- Financial Times: Danish telecoms operator TDC has accepted a $6.6 billion takeover offer from three local pension funds and Macquarie, the Australian infrastructure investor, capping a flurry of news involving Nordic media and mobile groups.
- Financial Times: Activist investor Carl Icahn and Darwin Deason have urged Xerox shareholders to vote against the Fujifilm deal, calling it the company’s “final death knell”.
- The Times: 21st Century Fox has offered to set up an independent board to oversee Sky News and keep it running for at least five years as it seeks to assuage government concerns over its takeover of Sky.
- The Daily Telegraph: Shares in Game Digital climbed as much as 13% on Monday as the computer games retailer's investors cheered plans to sell half its Belong esports business to Mike Ashley’s Sports Direct for £3.2 million.
- Financial Times (Comment): IQE shows how ‘research’ can cut a long story short.
- The Daily Telegraph (Comment): Inflation is the dog that didn't bark, but one day might roar back to life.