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Monday Papers: Investors split over oil majors’ payouts

And HSBC will remain in London after board makes final decision on bank headquarters.

Monday Papers: Investors split over oil majors’ payouts

Top stories

  • Financial Times: Large international oil companies are facing disagreements among their shareholders over whether they should maintain their dividend payments in the face of the plunge in crude prices.
  • The Daily Telegraph: HSBC's board has voted to remain in the UK in a decision that draws a line under almost a year of uncertainty over the future of Europe’s biggest bank.
  • The Guardian: Britain’s banks are vulnerable to a global financial shock despite efforts to shore up their finances, according to the official who led the inquiry into the safety of UK banks following the 2008 crash.
  • The Guardian: A poll of British and German companies operating in the UK has found that almost a third would consider moving jobs out of the country following a vote to leave the European Union.
  • Financial Times: CK Hutchison will promise to work with rivals to maintain two competing mobile networks in the UK, as it seeks to win over antitrust regulators to its proposed £10.5 billion acquisition of O2 to merge with Three.
  • The Daily Telegraph: The governor of China’s central bank has rejected claims that the yuan is about to plunge in value as the financial world braces itself for more volatility.
  • Financial Times: Japan’s investment industry is seeking protection from negative interest rates as the central bank’s policy comes into effect this week and threatens a $100 billion slab of savings.
  • Financial Times: Russia is deliberately attacking civilians in northern Syria in an attempt to intensify the refugee crisis, western diplomats and politicians have warned, in a sign that a fragile ceasefire agreement for the war-ravaged country is crumbling before it begins.

Business and economics

  • The Daily Telegraph: Oil majors will be able to offer shareholders steady payouts over the coming year even as the ongoing oil rout continues to wipe value from the sector.
  • Daily Mail: In a report entitled ‘three reasons why the markets are wrong’, the Centre for Economics and Business Research insisted ‘there are still strong fundamental reasons to be positive about the global economy’.
  • Financial Times: Some of the largest and well known US hedge funds have suffered further sharp losses from this year’s rout in equities and commodities, raising the prospect that investors pull more money from the industry.
  • Financial Times: Professional services firm PwC plans to add more than a thousand data scientists to its deals business in the next two years, illustrating how firms are reshaping their workforces to reflect advances in technology.
  • Financial Times: EDF has still not secured funding for a £18 billion nuclear plant at Hinkley Point in Somerset, further delaying one of the UK’s biggest energy projects.
  • Daily Mail: British steelworkers are heading to Brussels to protest outside the EU over cheap Chinese imports.
  • Financial Times: Allegations have emerged that South African authorities put pressure on Glencore before it agreed to the sale of a coal mine to a local company whose owners are at the centre of the controversy because of their links to the country’s political leadership.
  • The Guardian: Workers making clothes for Marks & Spencer in Sri Lanka, Bangladesh and India are still not being paid sufficiently, six years after the retailer promised to support the payment of a living wage in those countries.
  • Financial Times: Optimism that Iran’s economy would quickly open up to foreign trade and investment after the easing of international sanctions has been dashed by continuing restrictions on financing businesses in the Islamic republic.
  • Financial Times: Anglo American was too late in starting selling underperforming mines during the commodities downturn, its chief executive has admitted as the company prepares plans to offload or shut at least 65% of its assets in response to the sector’s escalating problems.
  • Financial Times: Online peer-to-peer lenders are eyeing moves into physical bricks and mortar as the industry seeks to broaden its customer base to take on the UK’s high street mortgage providers.
  • Financial Times: Carmakers are not being sufficiently transparent about their lobbying efforts in the wake of the Volkswagen emissions scandal, a situation that leading investors claim poses potential risks for shareholders.
  • The Independent: The GMB union will bring an army of nearly 640,000 workers to help the battle to keep Britain in the European Union, The Independent can reveal.
  • The Guardian: Rising house prices across much of England mean a government scheme to help buyers of newbuild property may have made more than £200 million for the Treasury in its first two-and-a-half years.

Share tips, comment and bids

  • Financial Times: French utility Engie is considering a widespread restructuring with between €10 billion to €20 billion worth of disposals under Isabelle Kocher, the incoming chief executive.
  • The Daily Telegraph: Asia’s richest man is among five suitors that are this week expected to make final bids for London City Airport to clinch a deal that could value the business at about £2 billion.
  • Financial Times: Metro Bank risks being more challenged than a true challenger.
  • Financial Times: Cambian’s failure to take care of costs tests investors’ nerve.
  • Financial Times (Comment): Oil majors’ business model under increasing pressure.
  • Financial Times (Lex): Bear markets: playing dead not an option.

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The Accumulator: oil's rally sparks Trump anger

by Daniel Grote on Apr 20, 2018 at 16:31

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