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Sunday Papers: Global slump 'will force UK factories into deeper recession’

And the ongoing oil price slump is potentially ruinous for explorers particularly the smaller ones carrying too much debt.

Sunday Papers: Global slump 'will force UK factories into deeper recession’

Top stories

  • The Sunday Telegraph: Tumbling oil prices will force Britain’s manufacturers to cut back on investment, as the sector is stuck in a “deepening recession”, economists have warned.
  • The Sunday Telegraph: The ongoing oil price slump is potentially ruinous for explorers particularly the smaller ones carrying too much debt and reliant on continued funding to keep operating in exotic locations.
  • The Independent on Sunday: A leading Bitcoin developer Mike Hearn has quit, saying that the currency is a ‘failed experiment’.
  • The Sunday Telegraph: Tata Steel is finalising plans to axe 1,000 jobs at its Port Talbot plant in another bitter blow to Britain’s beleaguered steel industry.
  • The Observer: If Saudi Arabia’s state oil company floats, it will be the biggest producer in the world by a factor of 10 but the secrecy that surrounds it makes it impossible to know for sure.

Business and economics

  • The Sunday Telegraph: Petroceltic is understood to have appointed restructuring specialists at PwC, led by partner Ian Green, to prepare for possible administration, as financing runs perilously short.
  • Mail on Sunday: Insurers could sue the Government over the December floods and so pass on their losses after facing claims estimated at £1.3 billion.
  • Mail on Sunday: Charges are imminent in the Serious Fraud Office investigation into Tesco as investigators have been pulling together evidence to see if any individuals working for Britain’s biggest supermarket, or the grocer itself, acted illegally in inflating its accounts.
  • The Sunday Telegraph: Marcus Agius, the former chairman of Barclays, has warned that the British economy could be harmed if regulators continue to curb risk-taking in the banking industry.
  • The Observer: Tourists shun resorts from Egypt to Turkey in wake of Isis attacks.
  • The Sunday Telegraph: One of Sports Direct’s largest shareholders Aviva Investors has voiced concern about the retailer’s fragile relationship with sporting goods giant Nike.
  • Mail on Sunday: East Coast Main Line's accounts just filed for its last 11 months of operation – plus one month as Virgin East Coast – show that the company made a pre-tax loss of £41 million in the 12 months to 31 March 2015, compared with a £9.5 million profit for the previous year.
  • Mail on Sunday: Christmas shopping figures sparkled for Royal Warrant holder Asprey as it revealed retail sales were 158% up on the festive period a year ago but the jeweller still recorded its fifth consecutive annual loss.
  • The Sunday Telegraph: A Christmas card revival has helped Paperchase to post an 11.2% jump in sales over the festive season.
  • The Sunday Telegraph: Pearson chief executive John Fallon faces doubts over his future in the job as the education giant prepares to reveal its crucial January trading update this week, with investors braced for more bad news.
  • Mail on Sunday: Accountancy giant KPMG has teamed up with an online market that allows lenders to compete for business from small firms looking for funds.
  • Mail on Sunday: James Averdieck, who sold premium dessert maker Gü for £32.5 million in 2010, is set to launch a ‘healthy’ chocolate rival this week with half the fat and calories.
  • The Observer: Agriculture experts warn that Britain’s pig farmers are braced for a horrendous year, as a glut of pork on the global markets sends prices plunging and prompts an increasing number to quit.
  • Mail on Sunday: ITV chairman Archie Norman is understood to be planning to step down from the broadcaster later this year, six years after he joined the company.

Share tips, comment and bids

  • The Sunday Telegraph: Ontario Teachers’ Pension Plan (OTPP) and Borealis could team up to launch a multi-billion pound bid for National Grid’s UK gas-distribution arm.
  • The Sunday Telegraph: Gaucho, the Argentinian steak restaurant chain, has sold a majority stake to private equity Equistone in a deal understood to be worth more than £100 million.
  • Mail on Sunday: SuperGroup, which owns the trendy but comfortable Superdry brand and recently began a fashion collaboration with London-born Hollywood superstar Idris Elba, delivered rising sales during the festive season and early January.
  • The Sunday Telegraph (Comment): BAE in Rolls-Royce merger? Let’s not go there.
  • The Sunday Telegraph (Comment): Don't fear the oil price crash - unless it heralds the beginning of a global downturn.

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Capita jumps as Woodford and Barnett back cash call

by Daniel Grote on Apr 23, 2018 at 10:31

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