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Tuesday Papers: Russia-West relations worse than during cold war

And Ukraine’s PrivatBank has filed a legal claim worth $3 billion against PWC for accounting abuse.

 
Tuesday Papers: Russia-West relations worse than during cold war

Top stories

  • The Times: Russian foreign minister Sergei Lavrov has said that relations with the West has deteriorated more than during the Cold War after the Skripal poisoning, suggesting that the modern relationship was more volatile and unpredictable.
  • Financial Times: Ukraine’s largest commercial lender PrivatBank has filed a $3 billion legal claim against PwC for alleged accounting breaches that forced the state to nationalise the lender.
  • The Daily Telegraph: Social media is predicted to become the UK’s biggest advertising format in two years, overtaking television, despite a blow to the industry from the Facebook privacy scandal.
  • The Times: The possible retaliation from the US against $3 billion of import tariffs imposed by China heightened possibility of a trade war between the US and China spooking the stock market on Monday.
  • Financial Times: Tesla's shares plunged by 8% as the electric carmaker faced a rebuke from the federal regulators over a fatal crash and the company’s mounting losses unnerved financial markets.
  • Financial Times: De La Rue is initiating a judicial review of the British government’s decision to allow a Franco-Dutch firm to make new blue national passports from next year.

Business and economics

  • The Times: London will retain its top position as the world’s premier financial centre despite Brexit uncertainty, according to data from EY.
  • The Daily Telegraph: Barclays has completed the £1 billion transformation of splitting up its investment bank from the retail bank, becoming the first in the UK to switch on its “ring-fence”.
  • Financial Times: The online music streaming service SoundCloud is on the path to exceed financial and user growth targets less than a year after a $170 million bailout.
  • The Daily Telegraph: Cyber security start-up Darktrace has more than doubled losses amid a hiring spree, despite increased revenues.
  • The Guardian: The UK saw more than 21,000 jobs being cut or put at risk in the first quarter of 2018 as retail store closures, company restructuring and Carillion’s collapse resulted in a dismal quarter.
  • The Guardian: Tidal Lagoon Power, the company behind the £1.3 billion Swansea tidal lagoon, will be forced to cut jobs if UK and Welsh government talks on the project fail to yield a breakthrough regarding the financing of the scheme.
  • The Daily Telegraph: The Chinese owners of Imagination Technologies have appointed Leo Li, a microchip industry veteran from a Beijing-backed technology conglomerate, as its new chief executive.
  • The Times: AstraZeneca and Shire, two of the UK stock market’s biggest pharmaceutical companies, have made millions of pounds in “secret” payments to healthcare professionals and organisations.
  • The Times: Conviviality investors are likely to file a legal suit against the drinks company’s board amid claims that they were misled over the health of the business’s finances.
  • Financial Times: Messaging platform Telegram has refused to hand Russian secret services the encryption keys to user accounts saying it is technically not possible to handover the encrypted messages.
  • The Times: The Irish corporate watchdog has sought legal help to appoint an inspector to Independent News & Media amid claims of data hacking by Denis O’Brien, the company’s largest shareholder.

Share tips, comment and bids

  • The Guardian: The Swedish music streaming company Spotify is poised to be valued at $20 billion-$25 billion, amid mixed fortunes for fast-growing technology companies.
  • Financial Times: Alibaba has bought Ele.me, China’s biggest food delivery company, for $9.5 billion including debt.
  • Financial Times: CME Group chief executive Terry Duffy has assured that the company will not sell any assets after its £3.9 billion acquisition of the UK’s Nex Group to appease antitrust regulators or meet cost savings targets.
  • The Daily Telegraph (Comment): Gender pay revelations give us the catalyst for change.
  • The Daily Telegraph (Comment): How investors can find a safe path through the trade wars.
  • The Daily Telegraph (Comment): Soybeans sow seeds of discontent in US and China's trade war.
  • The Times (Comment): Britain must ‘lose fear’ of doing business in Latin America.
  • Financial Times (Comment): City’s Brexit transition deal is nothing to be cheered.

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Sunday Papers: Shire on alert after Takeda's bid

by Himanshu Singh on Apr 01, 2018 at 03:52

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