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Monday Papers: L&G dumps firms over green issues

And G7 summit on Sunday ended on a bitter note with US President Trump lashing out at fellow leaders and backtracking on a pledge to sign the communiqué.

Monday Papers: L&G dumps firms over green issues

Top stories

  • The Times: The fund management division of Legal & General have sold shares in eight companies worldwide that it believes are not fighting climate change.
  • Financial Times: Group of Seven summit on Sunday ended on a bitter note with US President Donald Trump lashing out at fellow leaders and backtracking on a pledge to sign the G7 communiqué.
  • The Daily Telegraph: Social media companies would be prevented from reading private messages sent between individuals after a controversial EU privacy crackdown.
  • The Daily Telegraph: New chief executive of struggling miner Petropavlovsk has urged workers and shareholders to give him a chance ahead of a crucial vote on the company’s future.
  • The Times: Britain has attracted 18% of all foreign direct investment into Europe last year, retaining its place as the top destination for foreign investment in the continent, but its lead over France and Germany has narrowed.

Business and economics

  • Daily Express: Publicans fear that their costs to screen all Premier league matches will increase after Amazon’s acquisition of some of the broadcasting rights.
  • Financial Times: A celebrity Indian jeweller at the centre of an alleged $2 billion bank fraud in his home country is claiming political asylum in the UK.
  • The Times: Boardroom row at Stobart Group escalated still further as chairman of the aviation and energy conglomerate Iain Ferguson resisted fresh calls for him to resign on Sunday.
  • Daily Express: TSB started facing IT problems a month before its ill-fated switching of customer accounts, when it shifted mortgage brokers and their clients onto a new system.
  • Financial Times: Shipping industry faces an additional cost of $50 billion due to new environmental rules for marine fuels, Junichiro Ikeda, president and chief executive of Japan’s Mitsui OSK Lines has claimed.
  • The Daily Telegraph: Gordon Brown, the former UK prime minister and chancellor, has warned that the world economy will be hard hit by the next financial crisis because it has failed to adopt much needed reforms.
  • The Times: Persimmon’s shareholder Aberdeen Standard Investments is planning a private prosecution against the housebuilder’s boss Jeff Fairburn and other directors over the chief executive’s refusal to back down from taking a £75 million bonus that caused outrage in the City.
  • Financial Times: Blackstone is offering discounts to attract investors into its Saudi-backed fund to kick-start President Donald Trump’s signature $40 billion initiative.
  • The Guardian: Business leaders have accused the government of mishandling its flagship industrial policy as Brexit dominates the agenda in Whitehall.
  • Daily Mail: WPP is bracing for a shareholder backlash at its annual meeting this Wednesday amid calls to reject the group’s pay report, which includes a payout to Sir Martin Sorrell, and block key appointments.
  • Financial Times: Investment banking heavyweights earned more money in 2017 than in the year before the collapse of Lehman Brothers, highlighting the industry’s good health.
  • The Daily Telegraph: The cable operator Virgin Media is suing Durham County Council over claims it is obstructing efforts to bring ultrafast broadband to thousands of homes.
  • The Guardian: Sir Martin Sorrell has “strenuously” denied paying for a sex worker using WPP funds.
  • The Times: A new study has claimed that building more onshore wind farms could save consumers £1.6 billion on their energy bills.
  • The Guardian: Sainsbury’s will start selling from next month a new vegan-friendly range that includes “fake” meats in the chiller section alongside real meats.
  • The Times: Greek plans for a bond issue could be delayed due to market jitters caused by Italy’s political crisis, according to officials in Athens.
  • The Guardian: Transport Secretary Chris Grayling is under mounting pressure to take responsibility for the rail chaos as MPs and former Labour transport minister Lord Adonis urge action.
  • The Times: Overseas bidders will not be able to acquire smaller UK companies developing technologies deemed vital to national security under rules that come into force today.

Share tips, comment and bids

  • Daily Mail (Trader Tips): BUY Peel Hunt; SELL WPP.
  • The Daily Telegraph: The Vix index, which measures of future volatility expectations, has tumbled to below 12 points, its level before February’s stocks sell-off, despite the first shots of a trade war being fired and anti-EU populists seizing power in Italy.
  • The Times: Peer-to-peer lender Funding Circle is in advanced preparations for a £2 billion flotation this year.
  • The Daily Telegraph (Comment): Runaway inflation is the major risk, but a market crash seems unlikely.

1 comment so far. Why not have your say?

alan franklin

Jun 11, 2018 at 18:58

Really? You write: " Publications fear that their costs to screen all Premier league matches will increase after Amazon’s acquisition of some of the broadcasting rights."

Publications don't screen anything. They-er-print and publish. Hence the name...

report this

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FTSE rebounds as China-US trade fears pause

by Michelle McGagh on Jun 20, 2018 at 16:44

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