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Sunday Papers: Shell faces $30bn battle to sell assets after BG deal

And major central banks tear up interest rate plans as market turmoil forces them into reverse.

Sunday Papers: Shell faces $30bn battle to sell assets after BG deal

Top stories

  • The Sunday Telegraph: Shell completes its much-anticipated takeover of BG Group on Monday, facing a fresh battle to dispose of $30 billion of assets in the next three years as the oil market downturn drags on.
  • The Sunday Telegraph: The world’s most powerful central banks will be forced to tear up their plans following the carnage that has engulfed financial markets since the beginning of the year.
  • The Independent on Sunday: The pace at which robots and intelligent machines are able to take over the jobs traditionally performed by humans will result in more than half the population being unemployed within 30 years, an expert in computing has predicted.
  • The Sunday Telegraph: Schroders, one of the City’s oldest and biggest asset managers, has become the target of a multi-million pound short-selling trade from the American hedge fund Citadel.
  • Mail on Sunday: William White, the banker who predicted 2008 crisis, warned of another crisis as financial markets reeled last week and fears of a fresh recession or even banking crisis sparked panic.

Business and economics

  • Mail on Sunday: Sir Terry Leahy, the former chief executive of Tesco, has warned against ‘blaming too much on Europe’ and said most business red tape was created in Britain.
  • The Sunday Telegraph: Outdoors equipment retailer Mountain Warehouse is planning US expansion ahead of stock market flotation.
  • Mail on Sunday: Defence giant BAE Systems will this week name oil industry veteran Charles Woodburn as its chief operating officer, lining him up as the favourite to take over as chief executive.
  • The Observer: The European commission on Saturday pledged to study a report claiming that Swedish furniture giant Ikea may have underpaid taxes by €1 billion between 2009 and 2014 due to aggressive tax strategies.
  • Mail on Sunday: Amid carnage in the stock market – which saw the FTSE 100 index of the UK’s hundred largest firms fall 2.5% to 5,708 last week – a raft of big names have slashed dividends.
  • Mail on Sunday: The Office for National Statistics said construction output fell 0.4% in the fourth quarter of 2015 following a 1.7% decline in the third.
  • The Observer: Evgeny Lebedev has confirmed that the Independent and Independent on Sunday will cease printing, with the last editions to be published in late March.
  • Mail on Sunday: Hundreds of workers at Royal Bank of Scotland have been told they could lose their jobs in an overhaul of its service to firms.

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Barnett eyes revival and 'refines' unquoted portfolio

by Daniel Grote on May 23, 2018 at 16:09

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