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Monday Papers: Big sponsors pressure Fifa over Qatar World Cup

Monday Papers: Big sponsors pressure Fifa over Qatar World Cup

Top stories

  • Financial Times: Three of the biggest World Cup sponsors, Sony, Adidas and Visa have urged Fifa to investigate claims over how Qatar won the bid to host the 2022 football tournament, increasing the pressure on the governing body’s president Sepp Blatter.
  • The Guardian: Britain is on track for a record year for flotations as companies press ahead with initial public offerings despite signs of investor fatigue; so far this year, 40 companies have raised £5.7 billion after the market for new shares went into overdrive following years in the doldrums, figures supplied by Thomson Reuters show.
  • The Daily Telegraph: Head of the International Monetary Fund, Christine Lagarde, accepts her organisation's low growth forecasts for the UK economy were wrong.
  • Financial Times: Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers.
  • Financial Times: London accounted for almost half of all inward investment projects in the UK last year as the country extended its lead as Europe’s top destination for global investors.
  • The Daily Telegraph: The discount retailer, Primark, is planing to buy the Pavilions shopping centre in Birmingham for £60 million and convert it into one of the country’s biggest Primark stores.
  • Financial Times: Hostile takeover offers are making up the greatest proportion of global deal activity in 14 years as resurgent economic confidence leads companies to resist friendly overtures from would-be acquirers and demand greater premiums.
  • Financial Times: Jean-Claude Juncker’s ambitions to be the next European Commission president have been dealt a further blow after Sweden’s prime minister raised questions about the credibility of the process for filling the top job in Brussels.
  • The Guardian: Credit Suisse is set to pull in well over $100 million (£60 million) from the impending stock market listing of Alibaba, the Chinese internet group, after disclosing a $50 million bond investment it made in 2012.

Business and economics

  • Financial Times: Wall Street’s “fear gauge” has fallen to a seven-year low, helping propel US stocks to a record peak but suggesting investor complacency reigns over financial markets.
  • Financial Times: Facebook is hoping the World Cup will win it the upper hand in live events marketing, as it takes on Twitter and even the TV networks by claiming it can reach 500 million football fans.
  • Financial Times: The US Environmental Protection Agency’s plan to cut carbon emissions from power plants has brought predictions of economic apocalypse, but analysts looking at the rule say its economic impact may be surprisingly modest.
  • Financial Times: The biggest pension funds in Canada, Canada Pension Plan Investment Board, a national and ABP, the Dutch pension fund for government, have been accused of avoiding tax in the UK by the trade union Unite.
  • Financial Times: Credit Suisse is considering teaming up with private investors to spin off part of its US fixed income business in a move designed to cut its capital costs, as banks around the world face declining revenues from trading bonds.
  • Financial Times: Asian borrowers have tapped international bond markets for more than $100 billion so far this year, taking revenue away from lending banks as some of their biggest corporate customers ditch loans in favour of cheaper market finance.
  • Financial Times: SABMiller, the world’s second-largest brewer by sales, is making an “intense” effort to ramp up its share of the US premium beer market, where it has been caught on the hop by the explosion of local high-price craft beers.
  • Financial Times: Deloitte has announced the largest number of partner promotions in a decade in its UK business, as the company seeks to capitalise on a growing economy and a rise in corporate optimism.
  • Financial Times: The Co-operative Bank is preparing to refresh its ethical credentials in an effort to restore credibility after a string of scandals and a split from its mutual owner.
  • Financial Times: Royal Dutch Shell has started a search for a new chairman, as incumbent Jorma Ollila prepares to step down; the Anglo-Dutch oil major has appointed Egon Zehnder, the headhunters, to help find Mr Ollila’s successor.
  • Financial Times: Fifty of the UK’s largest companies are to be urged to show corporate responsibility by tracking how their small suppliers add value to their local communities; in an initiative backed by Downing Street, Philip Green - the former chief executive of United Utilities and the prime minister’s adviser on corporate social responsibility - will be writing to the companies asking them to include this way of assessing social value in their annual reports.
  • Financial Times: Denis Ribon, the former head of healthcare investments at 3i, has amassed €100 million from investors two months after formally leaving the British private equity group.
  • Financial Times: Japanese drugmakers have been conspicuous by their absence from the dealmaking bonanza sweeping the sector across Europe and the US.
  • Daily Mail: Barclays faces a £300 million lawsuit from Amanda Staveley the hotshot deal maker who helped broker the bank’s emergency fundraising with Abu Dhabi investors during the financial crisis.
  • Daily Express: Manufacturers are set to play a bigger role in powering Britain’s ­economic recovery as output surges to meet buoyant domestic demand; aerospace and car production will be major driving forces over the next couple of years as firms ramp up investment and job creation.
  • Daily Express: UK’s biggest mobile phone operator EE has moved to reassure retail partner Carphone Warehouse amid fears it is about to hang up on their relationship.
  • The Independent: Britain’s increasingly bullish manufacturers expect the industry to outpace the rest of the economy this year, according to a new study, in the latest sign that Britain’s factories are booming despite weaker growth in both Europe and the United States.
  • The Independent: The greetings card industry is brushing off the threat from online, according to the boss of high street chain Paperchase.
  • The Guardian: Mulberry will update the market this week on early demand for its new cheaper handbags after hefty price rises caused sales to plunge last year.
  • The Daily Telegraph: British Banking Association has called for greater collaboration ahead of meeting between security leaders.
  • The Daily Telegraph: Beleaguered security company G4S has lost one of its most important shareholders with Bill Gates, co-founder of Microsoft and one of the world’s richest men, selling his entire stake in the business for a modest profit.

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