- Financial Times: Investors are braced for a bout of volatility in US technology stocks over the next month, underlining the high stakes for this year’s best performing sector as second-quarter earnings kicks into gear this week.
- Financial Times: Banco Popular’s investors are pressing ahead with plans for legal action over the collapse of the Spanish bank despite a €1 billion compensation scheme launched last week by rival Santander, which acquired the struggling lender.
- The Daily Telegraph: Matthew Westerman, a former Goldman Sachs financier who has shaken up HSBC’s investment bank, has emerged as a contender to become the next boss of Europe’s biggest lender.
- The Guardian: Lloyd’s of London has warned that a serious cyber-attack could cost the global economy more than $120 billion (£92 billion) – as much as catastrophic natural disasters such as Hurricanes Katrina and Sandy.
- Financial Times: Philip Hammond has called for a Brexit transition deal that would give business a cushion of a “couple of years” after the UK leaves the EU as he accused hardliner cabinet members of trying to undermine him.
- The Times: The squeeze on consumer spending has required a downgrade on prospects for the UK economy from the EY Item Club, the forecasting group that uses the Treasury’s own model.
- Financial Times: China is ramping up acquisitions of overseas ports as it expands its reach as a maritime power, doubling its investments over the past year to $20 billion and pushing ahead with plans to open new shipping routes through the Arctic circle.
Business and economics
- The Daily Telegraph: British businesses are set to pay out a record £90.6 billion to their investors this year despite deepening fears over the Brexit negotiations and the country's political climate.
- The Times: BP is preparing to use the artificial intelligence technology that helped Nasa land a rover on Mars to improve how it drills for oil.
- Financial Times: Global chocolate sales are poised for a revival as industry innovation and tumbling cocoa bean prices spur growth, Antoine de Saint-Affrique, the chief executive of the world’s biggest supplier of chocolate and cocoa products Barry Callebaut has forecast.
- The Times: Britain’s fishing fleet achieved its best economic performance since 2008 last year as it bounced back from the fallout of the Russian trade ban in 2014, according to a new report.
- Financial Times: Twitter is in talks to screen the US PGA Championship, one of golf’s “major” tournaments, in the UK, after Sky lost its exclusive broadcast rights to the event.
- The Times: Pentland Group, the British family-owned business behind the Speedo and Berghaus brands, has recorded a stellar year despite the turmoil on the high street.
- Daily Mail: The boss of Airbus in the UK Paul Kahn is leaving the company and his role is being scrapped.
- The Times: Dame Carolyn McCall is expected to be confirmed as the new chief executive of ITV within days.
- The Daily Telegraph: Britain must rush to agree a trade deal similar to the one being hammered out between the EU and Japan or face having the UK’s £72 billion-a-year car industry taken apart, a trade lawyer has warned.
- Financial Times: France favours the “hardest Brexit” and is “seemingly happy” for an outcome detrimental to London, according to a leaked memo written by the City’s envoy to the EU.
Share tips, comment and bids
- Daily Mail (Trader tips): BUT ITV; SELL Rolls Royce.
- Financial Times: Wells Fargo is preparing to jettison more businesses as the US bank with $1.9 trillion in assets works to restore investor confidence in the wake of the sham accounts scandal.
- The Times (Comment): We must change how Britain’s companies are governed.
- Financial Times (Lex): Apple: a $1,000 iPhone is a necessary move, as long as it is good enough.