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In the papers: Lloyds to get £1.6 billion dividend from Scottish Widows; Mortgage lending up 21% in May

In the papers: Lloyds to get £1.6 billion dividend from Scottish Widows;  Mortgage lending up 21% in May

The Times 

Iberia may yet be grounded, Willie Walsh warns: The survival of Iberia is far from certain even after a radical restructuring at the Spanish flag carrier involving thousands of job cuts, International Airlines Group warned. 

Video comes to Instagram to put Vine out of the picture: Facebook has moved to counter the success of Twitter’s Vine video-streaming facility with the announcement that its photo-sharing app Instagram will be extended to include a 15-second video option. 

Upmarket furniture chain Dwell collapses: An upmarket furniture chain has become the latest high street casualty after it ceased trading, putting 300 jobs at risk. Dwell has cancelled all deliveries and told customers who have placed orders with credit cards to contact their bank for a refund. 

Sir Stelios goes for growth with new easyHotel Boss: After almost four years of personally babysitting his easyHotel chain, Sir Stelios Haji-Ioannou has appointed a new Chief Executive to resurrect global growth plans for the franchise-based business. 

Barclays takes on watchdog over lending crackdown: Barclays threatened to put a halt to lending as part of a high-stakes battle with City watchdogs who announced suddenly last week that they would impose new limits on the levels of loans banks can issue. 

Green shoots of recovery begin to bear fruit: Supermarket offers and online shopping drove a 3.1% increase in sales in May compared with a year earlier, the Office for National Statistics said. It comes after a surprise 1.1% fall in retail sales in April, the sharpest for a year, which was attributed largely to the cold weather. 

The Independent 

Tullett Prebon brought into Libor fixing investigation: Terry Smith’s inter-dealer broker, Tullett Prebon, has been roped into the City regulator’s investigation of the Libor rigging scandal. 

My website has cut out the jerks, says Tumblr Founder David Karp: Tumblr Founder David Karp has claimed that there are too many “jerks” making derogatory comments on rival sites and his blogging website is taking the “drive-by nastiness” out of social networking. 

Colin Henry to take helm at Jaeger: The fashion retailer Jaeger has hired a new Chief Executive, following its acquisition by a private-equity firm last year. 

Balfour wins £56 million Qatar engineering job: Balfour Beatty has snaffled a £56 million highways contract in Qatar. The Gulf state has asked Balfour’s professional services division, Parsons Brinckerhoff, to design 16 miles of expressways, including bridges and interchanges. 

€1 billion cashback on the Ryanair agenda: Ryanair has set out plans to return €1 billion (£850 million) to shareholders over the next two years, hours after confirming a massive order for planes worth almost €16 billion at list price.  

The Daily Telegraph 

Sellafield clean-up could be taken into state hands as £22 billion contract up for review: Nuclear waste clean-up operations at Sellafield could be taken back into state hands after a series of failings by private companies managing the site, as their £22 billion contract comes up for review. 

Sky wins battle with BT over refusal to carry BT Sport adverts: BSkyB has emerged victorious from a regulatory fight with BT after Ofcom ruled it does not have to show advertising for its rival’s new sport channels. 

Lloyds gets £1.6 billion dividend from Scottish Widows after regulator reveals £7 billion hole in its balance sheet: Lloyds Banking Group, which on Thursday was told to raise an additional £7 billion to fill a hole in its balance sheet, is to receive a £1.6 billion dividend from Scottish Widows. 

The Guardian 

Violent sell-off in world markets after Federal Reserve signals end to QE: Stock markets worldwide plummeted on Thursday, after the Federal Reserve Chairman, Ben Bernanke, rattled investors by signalling an end to America’s drastic recession-busting policy of quantitative easing. 

Bet365, U.K.’s biggest online bookmaker, sees profits leap by a third to £148 million: Britain’s biggest online bookmaker, Bet365, has seen profits leap by a third to £148 million, despite the family-owned business swallowing £31 million of losses from its controlling interest in Stoke City football club. 

Mortgage lending up 21% in May: Mortgage lending jumped 21% in May, the sharpest rise since October 2008, suggesting Britain’s housing market once again has a spring in its step. 

Sony Chief says time needed to study Daniel Loeb proposal: Sony needs more time to consider a proposal to spin off a part of its entertainment unit as a way to propel its fledgling revival, the Chief Executive has told shareholders. 

Daily Mail 

Decline in Chinese factory output threatens recovery while Europe continues to try and claw its way out of a recession: A sharp fall in factory output in China cast a shadow over the global economy as the Eurozone remained mired in recession. 

Car production slams into reverse after a slump in exports puts the brakes on overall production: Although the number of cars made in the U.K. for British drivers rose 14% during May, exports fell sharply – pulling overall production down by 8.4%. 

British brand Ted Baker’s sales heat up in the cold snap jumping 30% and boosting shares: British designer brand Ted Baker bucked the high street trend by posting soaring sales during the cold snap between February and April. The group saw its shares hit a record high after unveiling figures revealing a 30% sales jump over the past 20 weeks. 

Daily Express 

UK banks told to fill £27 billion black hole: Some of the U.K.’s major lenders have been told by the Bank of England’s new banking regulator they need to raise billions of pounds more to plug a £27.1 billion black hole in their balance sheets. 

Row sparked after order to cut Eurotunnel fees: European regulators have ordered Britain and France to slash fees charged to passenger operator Eurostar and freight hauliers to use the Channel Tunnel sparking a row with its operator. 

Compass appoints outgoing Diageo Boss: Paul Walsh, outgoing Boss of Guinness brewer Diageo, took a new direction after being appointed Chairman of caterer Compass. 

Dixons on top as tablet sales increase: The Owner of PC World and Currys said underlying pretax profits rose 15% to £94.5 million in the year to 30 April on total sales up 4% to £8.21 billion. Sales at shops open at least a year were up 4%. 

City A.M. 

Ofgem plans final energy tariff reforms: Ofgem announced its final proposals for reforming the retail energy market, which plan to reduce and simplify the number of tariffs available for consumers. 

Lehman Europe creditors share £3.5 billion payout: Creditors of the European arm of collapsed bank Lehman Brothers are set to share a £3.5 billion payout, it was announced. 

Miliband threatens compulsory purchase for reluctant builders: Labour leader Ed Miliband will threaten property developers with compulsory purchase orders if they do not push ahead with stalled housing projects. 

Oracle to switch listing to NYSE from Nasdaq as sales disappoint: Oracle missed expectations for software sales and subscriptions for the second straight quarter, sending its shares plunging as investors worried CEO Larry Ellison may have trouble getting the technology giant back on track. 

Airbus pips Boeing to biggest deal haul of the Paris Air Show: Airbus said its orders at this year’s Paris Air Show totalled $68.7 billion (£44.4 billion) at list prices, narrowly beating Boeing to clinch the biggest deal haul. 

Thomas Cook finds buyers for its shares in £305 million rights issue: Thomas Cook has found buyers for 96.76% of the shares in its £305 million rights issue, the travel firm said. 

Amazon’s Lovefilm takes bite out of US drama The Walking Dead: Amazon’s Lovefilm has won the rights to screen U.S. horror series The Walking Dead, the latest deal for the internet video service as it ramps up competition with Netflix. 

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