logo-loader

In the Papers - Netflix, Thomas Cook, Ebay, Dow Jones

Published: 08:43 19 Oct 2017 BST

no_picture_pai

Newspaper Summary

The Times

Deal to rescue Bombardier fit for the Queen: Ministers are to be urged to show solidarity with workers at the Bombardier aerospace factory in Northern Ireland and select the C-Series aircraft, part-built in Belfast, as the new jet for the Queen’s Flight.

Pensions dashboard site ‘will go ahead’: The government will promise to push ahead with a complex project to help savers to access information about their different pension pots on a single website.

Ebay deploys the big sell to attract buyers: A revamp of Ebay’s online marketplace helped it to attract nearly two million new customers in the third quarter, it said last night.

Netflix keeps cards close to its chest on viewing figures: The streaming service now faces new scrutiny after Nielsen, the dominant American ratings agency, said that it had worked out a way to estimate the audiences of 12,000 television episodes and films on its platform.

Former energy minister Lord Barker to chair Russian group En+: Lord Barker of Battle, the former Conservative energy minister, has been appointed Chairman of En+, an energy and metals group owned by Oleg Deripaska that is preparing to float in London.

Ex-Jefferies analyst denies lying in failed disability claim: A former City analyst has denied lying in a failed disability discrimination claim that he brought against his former employer.

BP waits patiently to go big on green energy: There will be no billion-dollar bets on green energy by BP because it is too early to tell which technologies will triumph, Bob Dudley has said.

Revolution Bars’ Chief Executive, Mark McQuater, heads for exit after takeover collapses: The board of Revolution Bars Group announced the abrupt exit of its Chief Executive a day after the company’s shareholders rejected a recommended £101.5 million takeover bid from Stonegate Pub Company.

The Independent

London fintech firms set for record year of investment, despite Brexit: London has cemented its place as the leading centre for financial technology startups in Europe, with 2017 set to be a record year for investment, despite fears that Brexit would harm the industry.

Half of City fund managers could leave after Brexit, survey shows: One of the City of London’s most important industries could lose more than half of its EU workers because of Brexit, according to a new survey.

EU advises firms to suspend purchases from Japan’s Kobe Steel: The EU’s aviation safety agency has recommended that companies stop using products made by the embattled Japanese company Kobe Steel, a major supplier to aircraft manufacturers around the world.

Domino’s calls for leadership training amid Brexit skills gap: Domino’s Pizza has called for the National Curriculum to develop leadership skills in young people because of fears that Brexit could leave the company short of international workers.

Fifteen million people aren’t saving for retirement, FCA Boss warns: Around 15 million people, or a third of all workers, are not saving towards their retirement, and the state pension is not enough to maintain their living standards, the U.K.’s top financial regulator has warned.

Intel develops a system making self-driving cars blameless in accident: Intel has developed a system it says ensures that self-driving vehicles can’t cause accidents when they are at fault, an effort to reassure a sceptical public and help speed adoption of driverless cars on the road.

Brexit could trigger next financial crisis, warns stock exchange Chief: Brexit could trigger the next financial crisis if France and Germany try to demolish London’s status as a centre of the global economy, the Chief Executive of the London Stock Exchange has warned.

Rising wealth inequality risks leaving U.K. youth behind, warns report: Post-Brexit Britain is risking a “lost decade” as rising wealth inequality, soaring debt and sky-high house prices leave the country’s youth behind, a new report warns.

The Daily Telegraph

Norway’s $1 trillion wealth fund wades into row over changes to London’s listing rules: Norway’s $1 trillion sovereign wealth fund has joined a growing number of critics to the proposals made by the U.K. financial watchdog that will ease rules for companies listing in London - a move widely seen as an attempt to lure oil giant Saudi Aramco to float in Britain.

Dow Jones sails past 23,000 milestone, hitting record highs: The Dow Jones cruised past the 23,000 mark, as hopes buoyed that President Donald Trump could make progress on implementing tax cut plans and with support coming from a raft of recent solid corporate earnings.

Hearst agrees to buy Men’s Health publisher in consolidation push: Hearst, the magazine giant behind titles including Elle, Cosmopolitan and Good Housekeeping, has agreed to buy a raft of titles from Rodale, as print advertising revenue continues to be squeezed in the industry.

Ricardo revved up by returning European customers seeking a deal: Engineer Ricardo is getting a Brexit boost with European car makers seeking out its expertise – which is now coming cheaper.

Owners of Newcastle airport swoop on Leeds Bradford in a deal worth £220 million: The Australian owners of Newcastle airport have snapped up Leeds Bradford airport in a deal that is understood to be worth more than £200 million.

More shareholders join attack against Millennium & Copthorne Directors over sale bid: Disquiet among major shareholders in Millennium & Copthorne is growing after two companies accused the hotel group’s Directors of “failing in their duty” to protect backers’ interests in a deal to take it private.

The Guardian turns venture capitalist in hunt for new income: The Guardian is trying its luck at venture capitalism in a bid to bolster its £1 billion cash reserve and cover its operating losses.

The Questor Column:

WPP shares have fallen by 18% since our tip. This is why you should hold on: We advised readers to buy the shares in mid-March at a price of £17.07 but they have hardly covered themselves in glory, with a fall of about 18% since then. In these circumstances the instinctive reaction is often to sell in fear that the losses can only worsen. If something has, a new assessment of the company’s fundamentals and valuation is required. If not, trust your original analysis and hold on to the shares. The Anglo-Dutch giant fought off a takeover bid earlier this year partly by pledging to boost margins by careful cost control, and there is a growing vogue for so-called 
”zero-based budgeting”. Another perceived danger is the rise of smaller brands in niche areas that bypass the big advertising groups by marketing their products digitally. He said Sir Martin’s own prediction was that WPP should grow its sales by a couple of% next year. Questor says ‘Hold’.

The Guardian

Chancellor asks for scrutiny of U.K. bank links to South Africa corruption inquiry: The chancellor has asked U.K. enforcement agencies to look into whether British banking groups HSBC and Standard Chartered are linked to South Africa’s corruption inquiry into alleged ties between the wealthy Gupta family and President Jacob Zuma.

Hofmeister redux as real Bavarian craft lager wins global beer award: Hofmeister, the lager that became a byword for bad beer in the 1980s, has won a global drinks competition after it was relaunched with a new recipe.

Call for inquiry into privately financed public projects in Scotland: An expert report has raised concerns about unjustified secrecy and poor value for money in privately financed projects in Scotland.

Phones 4u Founder’s former adviser wanted control, high court hears: A French financial expert wanted control of the company which managed Phones 4u Founder John Caudwell’s wealth and was “confrontational and uncooperative”, the high court has heard.

Half of U.K. adults are financially vulnerable, City watchdog finds: Half of the U.K. population are financially vulnerable with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator.

Rio Tinto charged with fraud in U.S. and fined £27.4 million in U.K.: Anglo-Australian mining giant Rio Tinto has been charged with fraud in the U.S. and fined £27.4 million in the U.K. after being accused of overstating the value of African coal assets.

Daily Mail

Shoppers spent £2.1 billion at Harrods during last financial year as pound’s fall triggered stampede of foreign buyers for luxury goods: Shoppers spent £2.1 billion at Harrods during its last financial year as the pound’s fall triggered a stampede of foreign buyers seeking luxury goods.

Reckitt Benckiser’s billion dollar takeover war chest: Giant’s debt-fuelled plan to kick start growth by buying up rivals: Consumer goods giant Reckitt Benckiser is set to spend billions on takeovers as it separates its health and hygiene home divisions.

High court told families were ‘mugged’ by Lloyds Directors in disastrous takeover of HBOS which cost them their life savings: Families were ‘mugged’ by Lloyds Directors in a disastrous takeover of HBOS which cost them their life savings, the high court was told.

London’s property market slowdown drags estate agent Foxtons down with it as commission slides 16%: London-focused estate agent Foxtons saw revenues decline again in the third quarter as it felt the impact of a downturn in the capital’s property market.

Daily Express

BrewDog plans to crowdfund £50 million for global expansion: BrewDog plans to raise up to £50 million to underpin a fresh expansion drive which will include the launch of a craft beer TV network.

Angels Fancy Dress spell out hottest Halloween fancy dress trends as sales rocket: Angels Fancy Dress, the U.K.’s largest and longest-established fancy dress supplier and costume hire company, is set for its most successful Halloween season yet.

Will interest rates rise in November? Bank of England’s dilemma after wage data: Savers look set for a boost while millions of family budgets are stretched from next month when the Bank of England is likely to raise interest rates.

Boost for specialist car makers with 60% production rise expected by 2020: Specialist car makers could experience a 60% production boost by 2020, according to a report. A strong performance by makers of low-volume models will continue to the end of the decade, a forecast by the Society of Motor Manufacturers and Traders (SMMT) stated.

U.K.’s ‘big four’ grocers lose more ground to German rivals: Each of the “big four” grocers lost customer share in the past quarter despite increasing sales, as Aldi and Lidl collectively accounted for half the entire market’s overall growth.

The Scottish Herald

Two cleaners at Spotless Commercial Cleaning have swapped their mops for managing Director jobs in Glasgow and Aberdeen: Two former cleaners have been named joint managing Directors of the £12 million turnover business where they work. Commercial cleaning company Spotless has appointed Nicola Barbour and Michelle Lamb as part of a long-term growth strategy.

Weak pound pushes FTSE-100 close to record high: London’s top-flight index edged towards record territory on Wednesday as blue-chip stocks enjoyed a leg up from the weak pound.

Law firms must grasp the technology nettle to stay relevant, says PwC: Technology is set to revolutionise the way legal services are delivered, meaning law firms are going to have to make a choice between focusing solely on premium work or embracing new business models, according to professional services giant PwC.

Shipworkers say government has betrayed Clyde yards as BAE Systems signs deal over cut price type 31 frigates: Confirmation that five type 31e warships ordered by the Ministry of Defence will not be built on the Clyde was described as a betrayal by opposition MPs and unions last night.

More shops to close as costs rise across retail sector forcing many off Scotland’s High Streets: Hundreds of small shops across Scotland will close as they face having to pay an additional £22 million in business rates, retail leaders have warned.

Scotland suffers “disappointing” rise in unemployment: Scotland’s unemployment rate has risen from its recent record low, but remains below that of the U.K. as a whole, according to official figures.

The Scotsman

Recruitment firm spreads its wings with Belfast office: Specialist recruiter iMultiply has opened a Belfast office as it looks to tap into Northern Ireland’s entrepreneurial business market.

Flybe issues profit warning after mounting maintenance costs: Regional airline Flybe has warned over profits after incurring higher-than-expected aircraft maintenance costs.

Nicola Sturgeon’s Universal Income is costed at £12.3 billion: Introducing a citizens’ income for everyone in Scotland would cost the public purse an extra £12.3 billion per year and lead to punitive income tax rises, official analysis has revealed.

Loudoun Castle could be restored by Titantic Quarter developer: It’s the ruined 19th century country house once dubbed the ‘Windsor of Scotland’, but better known to a generation of Scots as the location of a long-closed theme park.

City A.M.

Hilton Food Group gobbles up Tesco fish supplier Seachill for £81 million: Hilton Food Group has bought fish supplier Seachill in a £81 million deal, the firm said. Icelandic-owned Seachill is the second-largest fish supply business in the U.K., and it works for the country’s largest supermarket, Tesco.

Thomas Cook is setting up a new airline in Majorca: Thomas Cook has launched a new airline in Majorca and plans to start its first flights early next year as it looks to combat turbulence in the European short-haul aviation sector.

Bahrain’s Investcorp acquires work-at-height safety business Kee for £280 million: Bahraini investment firm Investcorp has scooped up fall prevention business Kee Safety from two U.K. private equity firms, in a deal valuing Kee at £280 million.

Hochschild shares bump higher on record production: Shares in Hochschild Mining lifted more than five%  after the miner hit record quarterly production, calming investor concerns about its performance after its stock tumbled over the summer.

British Airways owner IAG names the seven startups vying for investment in its new accelerator programme: British Airways owner IAG has announced the seven startups that will take place in its second Hangar 51 accelerator programme.

Tui plans to plug gap left by Monarch Airlines collapse by upping its flights: Package tour operator Tui is trying to help plug the gap left by collapsed airline Monarch by upping the number of flights it is offering.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

2 hours, 36 minutes ago