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Monday Papers: May faces Brexit showdown

Monday Papers: May faces Brexit showdown

Top stories

  • The Times: Senior Brexit-supporting ministers will call Theresa May to abandon her favoured option for a customs deal with the EU amid growing fears that she is paving the way for a compromise on the issue.
  • Financial Times: Hiring at UK fund managers has tumbled by as much as 50% since the Brexit referendum in June 2016.
  • The Daily Telegraph: Unprotected networks of utilities, transport and health services are being invaded by Russian hackers ahead of a potentially serious attack, British spy agencies have warned.
  • Financial Times: The strong euro is set to knock revenues for international companies in Europe, yet the corporate earnings due out this week is expected to show robust first-quarter performances.
  • Financial Times: In a potentially contentious Budget revamp, Brussels is planning to shift tens of billions of euros in EU funding away from central and eastern Europe to southern states, such as Spain and Greece, which were hit hard by the financial crisis.
  • Financial Times: Companies will have to reveal the ratio of chief executive pay to the average worker’s salary as the UK is putting forward legislation to make company publish these details.

Business and economics

  • The Guardian: According to the Institute for Public Policy Research, the Bank of England is “dangerously ill-equipped” to prevent the next recession and remains mired fighting the last downturn.
  • The Times: A leading forecaster EY Item Club has warned that Britain continues to display a “lack of momentum” and shows little sign of breaking the “pattern of uninspiring growth” of last year; it said gross domestic product could grow by 1.6% this year and by 1.7% next year.
  • Financial Times: Analysts are expecting muted first-quarter results from Europe’s biggest lenders as surge in equities revenues are set to be tempered by weakness in fixed income and advisory.
  • The Times: Boosted by the rebound in oil prices, the Anglo-Dutch energy company Royal Dutch Shell is expected to report its strongest quarterly results since 2014 this week.
  • The Daily Telegraph: Investors are braced for hit on Facebook's profit brought on by the Cambridge Analytica episode as the social network attempts to get a grip on the scandals enveloping the company.
  • The Daily Telegraph: Industrial giant Voestalpine is building the first new specialised steel plant in 40 years at Kapfenberg, south-west of Vienna, bringing an end to Europe's 40-year long steel slump.
  • The Daily Telegraph: Capita has set its sight on the lucrative American software market for the first time by recruiting an east coast-based team to focus on US emergency services, infrastructure and energy companies.
  • Daily Mail: American vulture hedge fund Elliott Advisors is stepping up raids on UK business after amassing an unrivalled $34 billion war chest.
  • Financial Times: Allied Healthcare, one of the biggest providers of home care visits for the elderly and unwell, is at risk of getting bust unless creditors back a company voluntary arrangement.
  • The Guardian: Facebook is in legal soup with Martin Lewis, the consumer advice and money-saving expert, who is suing the social media giant for defamation over fake adverts on Facebook featuring his face and name.
  • The Daily Telegraph: There could be another global hunt for replacing Bank of England Governor Mark Carney, whose tenure at the Old Lady of Threadneedle Street ends next June, Chancellor Philip Hammond has hinted.
  • The Times: Executives at Dignity will not receive £1.7 million in bonuses after the funeral provider cut its profit forecasts.
  • Financial Times: Google has come under fire from publishers for attempting to save itself from the potential negative impact of new European data rules; publishers claim that the company’s plans to preserve a hugely profitable business model do not match the spirit of the new law.
  • The Times: Paul Uppal, the UK government’s small business commissioner appointed to tackle chronic problems of late payment to small suppliers, has drawn flak after officials admitted that he is presently considering only two such cases.

Share tips, comment and bids

  • The Daily Telegraph: Sun Capital Partners, the owner of women’s fashion chain Bonmarche and bed and mattress firm Dreams, is among a clutch of private equity firms considering making an offer for British frozen food giant Young’s Seafood.
  • The Times: Yo! Sushi is buying Taiko Foods, a supplier of sushi, Asian food-to-go and dim sum to retailers including Waitrose and Costco.
  • Financial Times: Supreme Imports, the Manchester-based business that owns the KIk and Vape88 brands, announced its intention to float on Aim on Monday and is expected to be valued at £150 million.
  • The Daily Telegraph: Inflexion Private Equity has acquired both Energy Helpline and UK Web Media, which compares mobile phones, to create the UK’s first super-comparison website.
  • Financial Times (Comment): US companies count costs and benefits of Trump tax law.
  • The Daily Telegraph (Comment): Inflating oil prices is a dangerous game for the Saudis.
  • The Daily Telegraph (Comment): After Brexit, the UK should explore the ‘Commonwealth advantage’.

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