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Monday Papers: Former Centrica boss eyes Shell oil assets

And Chinese industry returns to profit as stimulus to cut interest rates and increasing state spending plan delivered.

Monday Papers: Former Centrica boss eyes Shell oil assets

Top stories

  • The Daily Telegraph: A $5 billion investment fund, led by former Centrica boss Sam Laidlaw, is in talks to snap up assets from Shell’s $30 billion oil and gas divestment drive.
  • The Independent: Industrial firms in the world’s second-largest economy returned to profit in the first two months of the year, lending some support to the idea that China’s stimulus measures are helping to stabilise its troubled manufacturing sector.
  • The Times: Big banks secretly lobbied for smaller rivals to pay a share of the £2.5 billion-a-year industry levy, arguing that they should not have to shoulder the entire burden of the tax.
  • The Guardian: Boardroom pay will soon be back in the spotlight as this year’s annual general meeting season gets under way in the City.

Business and economics

  • Daily Mail: Ineos is to move its international headquarters back to the UK six years after the chemicals giant fell out with the then prime minister Gordon Brown and relocated to Switzerland.
  • The Times: The British aerospace industry is stuck in a holding pattern as Boeing and Airbus, the world’s biggest aircraft manufacturers, signal a slowdown in deliveries this year.
  • The Daily Telegraph: The UK’s largest energy suppliers are under renewed pressure to double their recent tariff cuts as fresh data shows the latest round of reductions has done little to reduce fuel poverty.
  • Daily Mail: Three has promised to get mobile coverage into rural areas with no reception and reach 99% of customers if its £10.5 billion merger with O2 gets the thumbs-up.
  • The Daily Telegraph: City traders face a sharp increase in monitoring of their deals and chatter as regulators clamp down and institutions race to gain insights from automated analysis of sales calls, it is claimed.

Share tips, comment and bids

  • The Daily Telegraph: Premier Foods is holding out for an improved offer before opening takeover talks with its American suitor McCormick, despite mounting anger from shareholders.
  • The Daily Telegraph: The Ministry of Defence has placed a series of contracts worth £372 million with Britain’s biggest engineering groups, such as BAE Systems, Babcock and Rolls-Royce, to maintain the RAF’s fleet of Hawk jets.
  • The Guardian (Comment): Bank of England must burst the buy-to-let bubble now.

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FTSE 100 hands back gains as Bank turns hawkish

by Michelle McGagh on Jun 21, 2018 at 17:05

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