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Thursday newspaper round-up: Oil rigs, car industry, StanChart, Brexit

By Michele Maatouk

Date: Thursday 21 Mar 2019

Thursday newspaper round-up: Oil rigs, car industry, StanChart, Brexit

(Sharecast News) - Oil rigs could soon be run on renewable energy and battery power under new plans to help the North Sea play its part in the energy transition. The industry's regulator, the Oil and Gas Authority, is preparing to lead a new project to forge closer links between the oil producers and wind farm developers operating in UK waters. - Telegraph
A Government attempt to reboot the UK car industry after a blizzard of bad news has stalled due to the turmoil in Westminster surrounding Brexit. Greg Clark, the Business Secretary, was set to appear at a ground-breaking ceremony of a new battery facility ­today but has cancelled as the Government becomes increasingly rudderless. - Telegraph

One of the City's most influential investors has warned Standard Chartered that it faces scrutiny over pension arrangements for Bill Winters that will hand the bank's chief executive £474,000 this year. Retirement benefits for the bosses of Britain's biggest banks are emerging as a hot topic among investors as lenders prepare to put their pay schemes to shareholders at annual general meetings in coming weeks. - The Times

Financial services companies are preparing to move £1 trillion worth of assets out of Britain, a report says. EY, the professional services firm, said that 23 companies are planning to move their investments, stock and other assets out of the country to shield themselves from the consequences of a damaging Brexit. The value of assets expected to leave the UK has risen by £200 billion in the past quarter. - The Times

Music streaming services generated more than half of the income earned by record labels in the UK last year, as CD sales continue to plummet. Subscription streaming platforms operated by Spotify, Amazon Music and Apple Music, made revenues of £468m in the UK last year, 54% of the £865.5m total income for the recorded music industry. It is the first time that subscription streaming revenues, which grew at 35% year-on-year in 2018, have accounted for more than half of total recorded music revenues for labels. - Guardian


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