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Wednesday Papers: Booker rivals’ outrage over Tesco tie-up

And David Davis promises City of London special post-Brexit travel regime.

Wednesday Papers: Booker rivals’ outrage over Tesco tie-up

Top stories

  • The Times: Outraged wholesalers yesterday were considering an eleventh-hour rearguard action against the £3.7 billion merger of Tesco and Booker after the competition regulator provisionally approved the deal.
  • Financial Times: Bankers and other professionals have been promised a special post-Brexit travel regime to allow them to move freely across Europe, as the British government sought to reassure the City of London its future was safe.
  • Daily Express: European Central Bank has outlined plans to freeze cash deposits of customers at failing banks in order to halt collapses.
  • The Guardian: Philip Hammond is facing renewed calls to unfreeze public sector pay, as fresh analysis suggests the cost to the Treasury would be cushioned by £2.5 billion in additional tax revenues and benefits savings.
  • The Independent: London will remain an important global financial hub after Brexit, according to billionaire businessman and former New York City Mayor, Michael Bloomberg.

Business and economics

  • Daily Express: Britain now spends a colossal £49.1 billion merely paying off the interest on the money it owes in public debt every year, the latest figures have revealed.
  • The Daily Telegraph: Asset manager Intermediate Capital Group (ICG) saw its shares soar on Tuesday after it raised €5.2 billion (£4.7bn) – the largest fund of its kind raised in Europe this year and the company's biggest ever.
  • The Guardian: Big increases in the price of fish, fats and vegetables have driven food price inflation to the highest level in more than four years.
  • Financial Times: Shares in ITV fell as much as 7% on Tuesday as the UK’s biggest private broadcaster reported falling advertising revenues.
  • Financial Times: Citigroup has become the latest investment bank to invest money into groundbreaking artificial intelligence software for monitoring its staff by leading a fundraising round in Behavox, a three-year-old financial technology company based in London.
  • Financial Times: HSBC has agreed to pay €300 million to French authorities to settle a long-running investigation into allegations it helped wealthy clients of its Swiss private bank evade taxes.
  • Financial Times: Airbus wants Emirates Airline to pull forward deliveries of new A380 superjumbos to help it fill a gap after 2019 that could undermine the sustainability of the struggling aircraft.
  • Daily Mail: Shares in McCarthy & Stone shot up by 6.7%, or 9.8p, to 157p, as the retirement housebuilder’s full-year results pointed to a strong forward order book for 2018.
  • The Independent: Britain’s largest listed property developer Land Securities said on Tuesday negotiations for Britain to leave the European Union were moving more slowly than businesses would have hoped.
  • Financial Times: The Clearing House, which is owned by the commercial banks including Bank of America, JP Morgan Chase and Wells Fargo, have unveiled a service allowing domestic payments in the US to be made in seconds, rather than days.
  • The Times: Vodafone has lifted its full-year profit forecast for the first time in at least 17 years as it continues to benefit from a surge in mobile data use by consumers worldwide.
  • Daily Express: UK house prices rose 5.4% in the year to September while mortgage lending surged ahead of the first interest rate rise in a decade.
  • The Daily Telegraph: Britain blowing out of the EU without a deal on certifying vehicles for use in other countries would be disastrous for the UK car industry, MPs have been told.
  • Daily Express: Taylor Wimpey will pay £500 million in dividends this year and flagged bumper future payouts after easing concerns over the housing market.
  • The Times: Bankers working on the float of Cabot Credit Management have yet to sell all the shares in the business, despite offering them well below its mooted £1 billion market value.
  • Financial Times: Altice dropped to its lowest level in more than three years on Tuesday after brokers cut their expectations for its stock.
  • Daily Mail: The City watchdog has urged punters not to bet on online currency bitcoin – warning they could be at risk of huge losses if they get caught out.
  • The Times: Growth in the eurozone is on course to beat both Britain and the United States in the best year for the single currency area since the financial crash a decade ago.
  • The Daily Telegraph: Zurich has become the latest insurance giant to cut ties with coal-intensive businesses, bringing the amount insurers have pulled from these companies to around $20 billion (£15.2bn) in just two years.
  • The Guardian: Deliveroo won the right not to give its couriers the minimum wage or holiday pay on Tuesday, dealing a blow to campaigners for workers’ rights in the gig economy.
  • The Times: Legal & General is doubling up on its bet on retirement villages, paying £102 million for a portfolio of four villages from Helical, the developer, which is bowing out of the sector.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD Bovis Homes; BUY Computacenter.
  • Daily Express: German energy giant Innogy has cut the value of its UK supply business Npower by £428 million amid fierce competition and plans for a price cap.
  • Daily Express: Nisa Retail members have backed a £137.5 million takeover of the convenience chain by the Co-op Group.
  • The Times: has received approaches for a £460 million takeover from the company behind Uswitch, its rival price comparison site.
  • The Times: Burger King UK is to receive significant investment from Bridgepoint in a move that threatens to provide stiffer competition to McDonald’s.
  • The Guardian (Comment): Trump's tax breaks for the rich won't trickle down to help working Americans.
  • The Guardian (Comment): PFI firms are arming themselves for a Jeremy Corbyn government.

1 comment so far. Why not have your say?

steven fieldfare

Nov 15, 2017 at 13:51

Guardian: Pressure on Chancellor for public service pay rises all round given forecast of bigger tax intake.

Express: Debt interest payments hit £49bn.

Will culture and attitudes ever change?

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