<br /> <br /> Tuesday Papers: Brussels to offer border compromise – Citywire Money <br /> <br />

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And US breaks EU resistance over Iran sanctions, and incubates next oil crisis.

Tuesday Papers: Brussels to offer border compromise

Top stories

  • 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.
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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.
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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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