Tuesday Papers: Brussels to offer border compromise – Citywire Money
View the article online at http://citywire.co.uk/money/article/a1172662
And US breaks EU resistance over Iran sanctions, and incubates next oil crisis.
- The Times: Brussels is prepared to offer Theresa May an “independent mechanism” by which Britain could end a temporary customs arrangement with the bloc.
- The Daily Telegraph: Washington has imposed sanctions on Iran and vowed to take punitive action against any company in the world that flouts the embargo.
- Financial Times: Iron ore prices could remain elevated if BHP is forced to suspend exports from its operations in Australia because of the damage caused by a runaway freight train.
- Financial Times: City stockbroker Cenkos has brought back its former chief executive and major shareholder, Jim Durkin, at the helm in a big board shake-up announced on Monday.
- Financial Times: Citigroup has appointed John Dugan, a former comptroller of the currency, as its new chairman.
Business and economics
- The Guardian: Several eurozone finance ministers have supported Brussels in a row with Italy’s populist government over a budget dispute.
- The Daily Telegraph: The UK services sector has slowed down, indicating that GDP will expand at a weaker rate in the final quarter of the year than predicted, new data have suggested.
- The Guardian: Lloyds Banking Group is planning to add 2,000 jobs, in a major restructuring of its workforce as it refocuses its operations on digital technology.
- Financial Times: Carlyle has scaled back its UK investment following uncertainty over the terms of Brexit, says its co-founder David Rubenstein.
- The Daily Telegraph: Hiscox plunged 6.2% to £15.43 in lunchtime trade, its biggest one-day fall since February, as the insurer revealed a $15 million bill in preparation for a “worst-case scenario” Brexit.
- Financial Times: Delta Air Lines chief executive, Ed Bastian, is expecting to recoup $2 billion in higher fuel costs this year partly by increasing ticket prices.
- The Times: New car sales decline further despite a surge in the buying of electric and plug-in hybrid vehicles before a cut in subsidies announced for this month.
- The Daily Telegraph: Lidl is once again boosting hourly wages for its 17,000 employees as part of its “ongoing commitment” to supporting employees, the discount supermarket said.
- Daily Mail: Sales of clothing and homeware in shops slumped over the past three months ahead of the crucial festive period as shoppers desert stores and flock online.
- The Times: WPP’s group financial controller David Barker has ordered dozens of its advertising agencies to freeze recruitment in an attempt to revive profits.
- The Guardian: Crawshaw Group has lost more than 350 jobs after the Yorkshire-based chain of butchers went into administration and shut two-thirds of its stores.
- The Daily Telegraph: Amazon plans to split its proposed second headquarters in two after failing to find a US city that can accommodate its needs.
- The Times: Xi Jinping has vowed to liberalise China’s economy, lower tariffs and import more foreign goods and services as Beijing seeks to strengthen trade ties with other markets.
Share tips, comment and bids
- The Times (Tempus share tips): AVOID Thomas Cook; BUY BB Healthcare for long term.
- Daily Mail: Billionaire Li Ka-shing, one of the most influential businessmen in Asia, is in talks to buy a prime west London development in a major vote of confidence in Brexit Britain.
- The Times: Three Lincolnshire farmers, Alex Albone, Simon Herring and James Sweeting, owners of Pipers Crisps, are due to share in more than £20 million after their crisps company was acquired by Pepsico.
- Financial Times: Icelandair has agreed to take over long-haul low-cost carrier Wow Air, also based in Iceland, in an all-share deal worth $25 million.
- Financial Times: Serica Energy has agreed a deal to buy BHP Billiton’s stake in two North Sea fields, taking it above 90% ownership of the assets.
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