The Times
Currencies pounded as rate freeze set to last: Sterling and the dollar took a pounding on currency markets as speculation mounted that central banks in Britain and the US would respond to the stock market rout by freezing interest rates until well into next year.
British firms miss out on Iran’s US$185 billion oil bonanza: British companies including Royal Dutch Shell, Amec and Weir risk being outmanoeuvred by European rivals in a race for projects worth up to US$185 billion in Iran’s shattered oil industry.
Government sells Lloyds shares despite market turmoil: Choosing to sell into some of the most volatile trading on the FTSE 100 since it was forced to rescue Lloyds Banking Group in 2008, the Treasury offloaded another 1% in the high street bank on to institutional investors.
The Independent
GVC Holdings outbids rival 888 in £1 billion fight for Bwin.party: Sportingbet owner GVC Holdings moved closer to a £1 billion takeover of up-for-sale Bwin.party as it seeks to supplant bid rival 888 as the preferred choice of the company’s board.
Financial Times
Funds bet on Shell deal as oil prices plunge: A global stock market sell-off and tumbling oil prices have increased fears that some of this year’s largest takeover deals are at risk of falling apart — including Royal Dutch Shell’s US$70 billion bid for UK rival BG Group.
Anglo American agrees to sell Chilean copper mines: Anglo American on Monday reported some progress in its plans to sell more of its marginal assets, by offloading two Chilean copper mines for an initial US$300 million.
Cobalt International Energy exits Angolan fields for US$1.8 billion: Houston-based oil explorer Cobalt International Energy is to cash out for US$1.8 billion on Angolan prospects that are at the centre of a US corruption investigation.
The Daily Telegraph
Russian rouble hits new low as oil prices plunge further: The Russian rouble plunged to a new low on Monday as falling oil prices piled further pressure on the struggling currency.
Opec powerless to halt oil price slide, warns former group president: Opec is powerless to arrest the slide in oil prices unless producers outside the group such as Russia match any cuts in output, according to a former president of the group.
Apple shares rebound after Tim Cook releases rare email on China: Apple chief executive Tim Cook halted a 13% drop in the tech giant’s stock on Monday after taking the unusual step of emailing a media organisation to reassure investors about the business’s Chinese operation.
The Guardian
Osborne plays down fears China stock market slide will derail EU economies: George Osborne has played down fears that European economies will be derailed by the dramatic stock market slide in China that triggered some of the biggest swings on bourses around the world since the 2008 financial crisis.
Anti-euro, pro-drachma party told: form a government if you can: An explicitly anti-euro, pro-drachma party has assumed the process of attempting to form a government in Greece, four days after Prime Minister Alexis Tsipras resigned to pave the way for snap elections.
Daily Mail
Lloyds and RBS take a beating on day of chaos in financial markets: Almost £3billion was wiped from the value Lloyds and Royal Bank of Scotland as the stock market rout caused carnage at Britain’s biggest banks.
Miners lead charge south as resources stocks plummet to lowest level since 2009: Shares in mining stocks were among the worst affected , plummeting as the wider market meltdown stripped more than £9billion from the FTSE 100’s mining sector.