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Friday Papers: Tata Scottish steel rescued by Liberty House

And Premier Foods locked in shareholder row after snubbing McCormick bid.

Friday Papers: Tata Scottish steel rescued by Liberty House

Top stories

  • The Guardian: Two Lanarkshire steel mills have been saved from closure after metals group Liberty House bought them from Tata Steel, in a deal brokered by the Scottish government.
  • The Times: Two of the biggest shareholders in Premier Foods have roundly criticised the food manufacturer for failing to engage with an American suitor and have questioned the board’s objectivity.
  • Financial Times: The US Treasury has played down concerns over the soaring number of trade failures for US government bonds, which hit an eight-year high of $456 billion in the week to 9 March.
  • Financial Times: Mitsubishi Corp has become the second Japanese trading house in two days to report massive asset impairments and a likely annual loss, echoing Mitsui & Co’s warning on the effect of plunging commodity prices.
  • The Daily Telegraph: Britain’s shoppers shunned the high street last month, despite attempts by stores to entice them with sales and discounts.

Business and economics

  • Financial Times: Yahoo shareholders are being asked to sweep away the company’s entire board and replace it with former executives from the worlds of television, banking and technology, in what is set to be the biggest showdown with an activist hedge fund this year.
  • The Times: After a frenzy of deal-making in 2015 Wall Street has seen a sharp drop-off in activity during the first quarter with investment banks experiencing a 36% fall in fees, the lowest since the financial crisis.
  • Financial Times: More than half of British banks say that if the country leaves the EU it would hurt their businesses, but almost two-thirds have decided against taking a position in the Brexit debate.
  • Daily Mail: SSE, one of the UK's 'Big Six' energy suppliers, has also waded into the EU referendum debate by telling investors that a vote to leave would increase the risk in its business.
  • The Guardian: The Land Registry is being put for up for sale less than two years after the Liberal Democrats blocked previous plans for a £1 billion-plus privatisation.
  • The Guardian: Volkswagen is recalling 800,000 vehicles due to a suspected problem with the pedals, dealing another blow to the beleaguered German carmaker.
  • Daily Mail: Prudential is set to cap the pay of top fund managers after a barrage of criticism for handing staff huge bonuses.
  • The Times: The Bank of England is set to be handed new powers to control the booming buy-to-let housing market this year, amid concerns over a property bubble.
  • The Independent: The outsourcing giant Mitie has warned of lower than expected revenues after concerns over the economy led to a spate of cancelled work.
  • The Independent: The global sugar shortage expected to hit in 2016 will be even more severe than expected because of droughts caused by El Nino.
  • Daily Mail: The boss of credit card company CPP hailed a ‘new beginning’ after the scandal-hit company returned to the black – bolstering his chances of fighting off a boardroom coup.
  • The Times: Bupa is parting company with its chief executive amid below-par growth at the private healthcare company.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD London Stock Exchange; BUY Next; BUY INPP.
  • The Guardian: Whistles, the high street fashion chain, has been bought by the Foschini Group in the latest move by a South African retailer into the British market.
  • Daily Mail: Peppa Pig owner Entertainment One has taken a controlling stake in a reality television company Renegade Entertainment for £16million.
  • The Times: The executive chairman of Parkmead Group is running the rule over a string of potential oil and gas deals as the company looks to take advantage of the impact of sliding prices.
  • The Times: Legal & General Investment Management (LGIM) and the Pension Protection Fund (PPF) have taken the largest part of a £580 million, 30-year refinancing of Britain’s newest port, which has been built by Dubai Ports World in an attempt to take on the UK’s biggest player at Felixstowe, Suffolk.
  • Financial Times (Lombard): Next paints it black.
  • The Daily Telegraph (Comment): A question that splits Europe: who has the right to make spare parts?
  • Financial Times (Lex): Next: retailer’s chief executive has past form in under-promising.
  • Financial Times (Lex): China spending: Chinese consumers are becoming less keen on overseas brands.

4 comments so far. Why not have your say?


Mar 25, 2016 at 09:37

Daily mail energy scaremongering again for brexit .

Energy prices in this country in my view are still very high .the goverment helps the older part of the population with payments in winter .which gives pensioners a boast when they need it .

Energy prices change from one supplier to the next and the spread between suppliers can vary a lot everone has a choice .

More should be done by goverment to keep energy costs within certain limits of what householders can afford .more energy watching .the closer the better with frequent updates to the public.

report this

Falling Knife

Mar 26, 2016 at 10:40

Croppp that is one image I don't think I will ever be able to get out of my mind "the government giving pensioners a BOAST when they need it." I would love to be the Minister for that portfolio as it doesn't seem very taxing. Actually I don't think the margin these energy companies make is all that great but they certainly do well out of rushing out price increases due to cost increases but rarely cutting prices unless forced to by a competitor or entering a land grab for market share- the latter almost always when the winter season is over.

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Mar 26, 2016 at 13:11

Energy Companies have options governed by how long the term of contract .

Pensioners who are always getting older .have great dificulty in getting the right deal and can be sold a contract that is much higher that other energy companies .difficulty having a telephone conversation due to poor hearing .

What goverment should have in place is a failsafe price based on an average of all the energy companies so that the pensioner cannot be taken into a deal that is much higher than this average .THIS SHOULD BE IMPLEMENTED BY OUR GOVERMENT TO STOP OVERCHARGING .

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Mar 26, 2016 at 13:54

Energy price`s can vary due to the contract that each householder accepts from each energy supplier .from single supply .either gas or electricity .

Pensioners have problems .due to age getting older unable to get a grasp on sometimes a fast talking sale`s person .poor hearing .one might say well some one can help .relation .citizens advice .the last named now one has to have an oppointment .with disability even this can be a great difficulty .so what is the answer .

If an average of all the energy companies prices for single gas .single electricity.and dual fuel can be added together and an average price generated .and energy companies limited to that average price for sales to pensioners then this would be a failsafe method to stop miss selling and overcharging.

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