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Monday Papers: Crimea poll leaves Moscow isolated

Monday Papers: Crimea poll leaves Moscow isolated

Top stories

  • Financial Times: Moscow headed deeper into international isolation on Sunday as Ukraine’s Crimean peninsula voted overwhelmingly to rejoin Russia in a referendum condemned by the EU and US as illegal.; Russia set to face international sanctions as early as Monday.
  • Financial Times: Barclays, Citigroup and Royal Bank of Scotland have frozen bonuses across swaths of their foreign exchange trading teams pending internal investigations into possible manipulation of key currency benchmarks.
  • The Guardian: Roaming charges for using a mobile phone abroad will be abolished from December 2015 in proposals expected to be voted through the European parliament on Tuesday, but operators have warned that bills could rise domestically to pay for the change.
  • The Guardian: Manufacturers are planning to hire workers at the fastest rate in more than a decade in the coming months, as recovery in Britain's factories becomes more firmly entrenched.
  • The Daily Telegraph: Chancellor George Osborne will reignite the row over green taxes on energy bills this week when he is expected to curb to his controversial carbon tax, which could push up UK electricity prices.
  • Financial Times: Mark Carney will announce a shake-up of the Bank of England this week as he drives forward plans to modernise the central bank with its new powers.

Business and economics

  • Financial Times: Royal Bank of Scotland is in advanced talks with the government to buy back a ‘golden share’ - Dividend Access Share, which would enable the bank to resume paying dividends.
  • Financial Times: George Osborne will announce in Wednesday’s Budget the largest annual upgrade to economic growth since the millennium, but forecasts for a slowing economy from 2015 leave the chancellor little room for largesse in the run-up to next year’s general election.
  • Financial Times: Copper producers plan to expand mine capacity and output to record levels again this year, underlining potential additional downward pressures on prices, which have fallen steeply recently.
  • Financial Times: George Osborne is being urged to step up tax relief on capital investment as he prepares to deliver a Budget to support “a Britain that invests”.
  • Financial Times: David Cameron has set out seven “key” changes he wants to secure in Britain’s relationship with the EU, detailing for the first time the deal he hopes to put to the country in his proposed 2017 in-out referendum on membership.
  • Financial Times: UK exports expected to push output up 2.7% this year as manufacturers are seeing increasingly strong growth as UK sales remain firm.
  • Financial Times: A crackdown on tax avoidance by big business has reduced the risk to the Exchequer from two aggressive forms of financial engineering by nearly £2 billion last year.
  • Financial Times: RWE has agreed the sale of its oil and gas exploration unit at an enterprise value of €5.1 billion to an investment vehicle owned by Russia’s Alfa Group, the German utility said in a statement on Sunday.
  • Financial Times: Profits at Bonhams more than doubled as the auctioneer benefited from a surge of wealthy buyers pouring their cash into fine arts, antiques and the world’s most expensive second-hand car.
  • Financial Times: The finance director of outsourcing company Serco is set to quit the company after a scandal involving overcharging the government and two profit warnings in the past six months.
  • Financial Times: Passengers can look forward to the prospect of cheaper air fares over the next few years because of airlines ordering new aircraft at a record rate.
  • Financial Times: Warburg Pincus has appointed LCH.Clearnet chairman Jacques Aigrain as senior adviser to help find financial services deals in Europe.
  • Financial Times: Regulations taking effect this month will put further pressure on companies’ labour costs in China, employment lawyers have warned, as the government imposes strict new limits on the use of workers hired through outside agencies.
  • Financial Times: The new head of the HS2 high speed rail line will tell the government on Monday that the only way to cut its £50 billion budget is for MPs from all sides to support it to get it built quicker.
  • The Guardian: Primark is to pay out a further $10 million (£6 million) in compensation to victims of the Rana Plaza factory collapse in Bangladesh weeks before the anniversary of the disaster in which more than 1,100 garment workers lost their lives.
  • The Guardian: French energy group Total said on Sunday it expects to be prosecuted over a large gas leak at a North Sea oil rig in 2012.
  • Daily Express: Strong UK sales and more overseas trade resulted in firm orders and output in the first quarter of 2014, according to a survey from the Engineering Employers Federation and accountants BDO.
  • Daily Express: Motoring and breakdown group The AA is facing a potential takeover bid from private equity and investment firms.
  • Daily Express: Company directors responsible for setting the pay of their firms’ chief executives and senior bosses themselves netted pay hikes of nearly a 10th last year.
  • Daily Mail: Barclays boss Antony Jenkins and his top team to receive share awards worth million despite year mired in scandals.
  • Daily Mail: The retail world will be turned on its head this week as the discounters finally break Sainsbury’s three-year run of sales growth while annual profits at Next will overtake Marks & Spencer’s for the first time.
  • The Daily Telegraph: Japan's first new geothermal power plant in 15 years to open next month.
  • The Daily Telegraph: East London office estateCanary Wharf to get first residential building following an approval for 58-storey residential tower.
  • The Daily Telegraph: Europe's largest gold mine in Romania looks set to miss London's current window for stock market flotations due to delays in approval of the project.
  • The Daily Telegraph: China's debt defaults to hit industrial metals as trading unravels; all the warning signals are now pointing to a continuing slide in prices as the full extent of China's economic problems emerges and bearish sentiment grips the large commodity trading houses .

Share tips, comment and bids

  • Financial Times: The owner of Jimmy Choo is considering a a London-listing of the luxury shoe business , which could value the entire business at £1 billion.
  • Financial Times: UniCredit aims to sell or float its Pioneer Investments asset management business with a valuation of about €2 billion-€3 billion as part of a wider disposal programme at Italy’s biggest bank by assets.
  • The Daily Telegraph: Bernie Ecclestone has revealed that he will sell his 5.3% stake in Formula One when its controlling shareholder, the private equity firm CVC, exits the business.
  • Financial Times: Vodafone has reached an agreement to purchase Spanish cable company Ono, in a deal valuing Spain’s second-largest provider of broadband internet, pay television and fixed telephony services at €7.2 billion, including debt.
  • Financial Times: AudioBoo, a London company whose audio publishing platform is used by the BBC and The Guardian, plans to list on Aim through a reverse takeover of a cash shell.
  • Financial Times: Caracal Energy and TransGlobe Energy, two Africa-focused junior oil companies, have announced plans to merge, in a move that will create a group worth nearly $2 billion with operations stretching from Chad and Egypt.
  • Daily Express: Tekcapital a company which helps businesses stay at the cutting edge by offering access to university discoveries and intellectual property from research institutions is graduating to Aim by raising about £3 million.
  • Daily Express: Sperati buttons up a new strategy and moves from main market to Aim to raise raise £250,000.
  • Daily Mail: Fast Track Pharma is seeking to raise £2 million at AIM, which will allow it to increase the number of products it develops.
  • Financial Times (Comment): Europe should say no to a flawed banking union.
  • Financial Times: Temasek / Olam: the latest salvo in Singapore’s fight against shorts.
  • Financial Times (Lex): General Mills is feeling the effects of a frugal US consumer.
  • Financial Times (Lex): Plans by Brazil’s Itau Unibanco and Chile’s CorpBanca to merge their operations in Chile and Colombia should benefit all shareholders over time, but some object – rightly – to the terms.

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