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  • Wednesday newspaper round-up: Evergrande, Credit Suisse, Halifax

    Wednesday 20 Oct 2021

    (Sharecast News) - The rescue of embattled Chinese property company Evergrande appears to have stalled, leaving the developer on the brink of default and threatening to unleash contagion through the country's giant real estate sector, home prices and the economy. The problems enveloping Evergrande, which has eyewatering total debts of $305bn, have hung over global financial markets in recent weeks and helped curb China's post-pandemic recovery. - Guardian

  • Tuesday newspaper round-up: Cost of living, Meggitt, big tech

    Tuesday 19 Oct 2021

    (Sharecast News) - Ministers have unveiled plans for £5,000 grants to allow people to install home heat pumps and other low-carbon boiler replacements as part of a wider heat and buildings strategy that some campaigners warned lacked sufficient ambition and funding. Labour also condemned the plans as "more of Boris Johnson's hot air", without sufficient substance.- Guardian

  • Monday newspaper round-up: Ford, Amazon, online sales tax

    Monday 18 Oct 2021

    (Sharecast News) - Ford has announced it will invest £230m in a Merseyside transmission factory to upgrade it to make parts for electric vehicles, in a significant fillip for northern England's automotive industry. The US carmaker's investment will help maintain about 500 jobs at the plant in Halewood, Knowsley, which currently makes transmission systems for petrol and diesel vehicles. Ford will receive UK government support worth about £30m, according to a source with knowledge of negotiations. - Guardian

  • Sunday newspaper round-up: The Hut Group, Bank of England, Gelion Technologies

    Sunday 17 Oct 2021

    (Sharecast News) - Tax law experts claim that British taxpayers will end up subsidising US private equity outfit Clayton Dubilier & Rice's $7bn takeover of Morrisons. On Saturday, MPs and tax campaigners said the deal "stinks" and will probably see the grocer pay less in taxes to the Exchequer. According to Richard Murphy, of Sheffield University Management School: "If CD&R put the debt on to Morrisons to buy it, then the profits are reduced due to the interest payments sent offshore. The Government will be subsidising this if there is debt involved. Is that a good use of taxpayer money?" - Financial Mail on Sunday

  • Friday newspaper round-up: Butchers, contactless limit, energy providers

    Friday 15 Oct 2021

    (Sharecast News) - The government has stepped in to counter a spiralling crisis on pig farms by allowing butchers to enter the UK on temporary visas, in the latest reversal of post-Brexit immigration policy. Butchers in abattoirs and meat processing plants dealing with pigs will be allowed to come to work in Britain for six months, the environment secretary, George Eustice, announced on Thursday evening. He said 800 butchers were needed to meet staffing shortages and get the situation under control. - Guardian

  • Thursday newspaper round-up: Business rates, air fares, house prices

    Thursday 14 Oct 2021

    (Sharecast News) - The owner of the UK's biggest poultry supplier has warned that the cost of chicken is expected to rise by more than 10%, adding that food in Britain is "too cheap." In a strongly worded intervention, Ranjit Singh Boparan, the owner of Bernard Matthews and 2 Sisters Food Group, called for a "reset" on pricing to reflect the true cost of producing food. "How can it be right that a whole chicken costs less than a pint of beer? You're looking at a different world where the shopper pays more," he said on Wednesday. - Guardian

  • Wednesday newspaper round-up: Apple, The Hut Group, Sterling

    Wednesday 13 Oct 2021

    (Sharecast News) - Apple may slash the number of iPhone 13s it will make this year by up to 10m because of a shortage of computer chips amid a worldwide supply chain crunch that led the White House to warn that "there will be things that people can't get" at Christmas. Apple was expected to produce 90m units of the new iPhone models this year but has told its manufacturers that the number would be lower because chip suppliers including Broadcom and Texas Instruments were struggling to deliver components, Bloomberg reported on Tuesday. - Guardian

  • Tuesday newspaper round-up: Ryanair, City real estate, energy prices

    Tuesday 12 Oct 2021

    (Sharecast News) - Rish Sunak is poised to usher in cuts worth £2bn for government departments tasked with meeting the Tories' flagship "levelling up" agenda, despite planning for the biggest tax raid in a generation. The Institute for Fiscal Studies (IFS) said the chancellor was on track to lift the UK's tax burden to the highest sustained level in peacetime with a package of manifesto-busting tax increases at this month's budget and spending review. - Guardian

  • Monday newspaper round-up: Liberty Steel owner, FCA, rail chiefs, Glaxo

    Monday 11 Oct 2021

    (Sharecast News) - The owner of Liberty Steel has pledged to restart its plants in Rotherham and Stocksbridge in South Yorkshire this month, saving the "substantial majority" of 1,000 jobs, by pumping £50m in cash into the business. The move comes after Sanjeev Gupta's conglomerate, GFG Alliance, said it had refinanced debts at its Australian steel and mining business. - Guardian

  • Friday newspaper round-up: Power cuts, US debt ceiling, Weir Group

    Friday 08 Oct 2021

    (Sharecast News) - The risk of power cuts to factories and homes this winter has increased, the National Grid warned, as the business secretary prepared for a crunch meeting with industry bosses concerned the energy crisis may force them to scale back production. The price of gas and electricity has soared in recent weeks, leading to the collapse of multiple energy suppliers and prompting warnings of higher costs for consumers, factory shutdowns and increased pollution as plants switch to dirtier but cheaper fuels. - Guardian

  • Thursday newspaper round-up: Rail fares, Ocado, British Airways

    Thursday 07 Oct 2021

    (Sharecast News) - Britain's top-listed businesses have made further progress on gender targets but still have too few women in senior leadership positions, a report has found. The research, by Cranfield School of Management, found the proportion of women on FTSE 100 boards was at an all-time high, but concluded there still were not enough female chairs, chief executives and chief financial officers. - Guardian

  • Wednesday newspaper round-up: Petrol prices, Amazon, DeepMind

    Wednesday 06 Oct 2021

    (Sharecast News) - Nearly two-thirds of UK manufacturers expect to raise their prices in the run-up to Christmas after being hit by mounting cost pressures, a leading employers' group has said. The British Chambers of Commerce said inflation expectations had risen to their highest since its records began at the end of the 1980s, with 62% of industrial firms planning price hikes over the next three months. - Guardian

  • Tuesday newspaper round-up: Channel 4, fuel crisis, Monzo

    Tuesday 05 Oct 2021

    (Sharecast News) - The UK fuel crisis could run another week, fuel retailers have warned, as military tanker drivers took to the roads to relieve pressure on petrol stations. One in five forecourts in London and the south-east of England were still out of fuel on Monday, according to the Petrol Retailers Association, compared with just 8% across the rest of the country, where the shortage appears to be almost over. - Guardian

  • Monday newspaper round-up: Staff shortages, Evergrande, British Airways

    Monday 04 Oct 2021

    (Sharecast News) - Staff shortages are rippling out from the haulage, farming and hospitality sectors to almost all parts of the economy, putting "severe pressure" on medium-sized business across the UK, a new survey has warned. More than a quarter of the 500 firms polled said the lack of staff was putting pressure on their ability to operate at normal levels, with reduced stock - due to the resulting supply chain disruption - hurting their business. - Guardian

  • Sunday newspaper round-up: Rolls Royce, Food and fuel shortages, Morrisons

    Sunday 03 Oct 2021

    (Sharecast News) - Rolls Royce may be set to rake in "billions of pounds" worth of orders for miniature nuclear power stations from countries in Eastern Europe, the head of green investment fund IP3 said. The fund's boss, Mike Hewitt, told the newspaper that nations including Poland, the Czech Republic, Latvia, Hungary, Estonia, and Bulgaria all had aggressive plans to go nuclear. For its part, the company said it was talking to interested parties about export opportunities, including in Europe. It has also secured £210m of funding from the private sector for its small modular reactor programme in the UK. That will unlock the same amount of funds from the government with an announcement expected imminently. - Financial Mail on Sunday

  • Friday newspaper round-up: Fuel crisis, Blue Origin, European lorry drivers

    Friday 01 Oct 2021

    (Sharecast News) - Nearly half of all independently owned petrol stations in the UK were still dry or out of one type of fuel on Thursday, as motorists continued to panic buy and soldiers stood by to drive tankers to help with the refuelling effort amid a lack of HGV drivers. The Petrol Retailers Association said drivers were continuing to buy fuel faster than it could be restocked, despite the insistence from chief secretary to the Treasury, Simon Clarke, that the situation was "back under control". - Guardian

  • Thursday newspaper round-up: Transport bosses, online deliveries, car exports

    Thursday 30 Sep 2021

    (Sharecast News) - Airline, shipping and trucking bosses have joined union leaders in calling for governments around the world to ease coronavirus restrictions on transport workers to help avoid a Christmas supply chain crisis. Industry representatives from around the world issued a joint call on Wednesday for coordinated action from national governments to simplify border restrictions. - Guardian

  • Wednesday newspaper round-up: Supply chain issues, Multiverse, easyJet

    Wednesday 29 Sep 2021

    (Sharecast News) - Britain's supply chain strain could last until after Christmas, Boris Johnson has admitted as he urged motorists to stop panic-buying fuel by insisting supplies were "improving" - despite thousands of forecourts remaining dry. The prime minister intervened after being accused by Labour of "reducing the country to chaos" with car queues continuing to build up and fights breaking out at petrol stations, while teachers and hospital workers were left unable to get to work. - Guardian

  • Tuesday newspaper round-up: Wise, National Lottery, Octopus Energy

    Tuesday 28 Sep 2021

    (Sharecast News) - The billionaire chief executive of the money transfer provider Wise has been fined hundreds of thousands of pounds by HMRC for deliberately defaulting on his taxes, The Telegraph can reveal. Kristo Kaarmann, the Estonian co-founder of Wise, was charged £365,651 for a deliberate default during the 2017/18 tax year on a £720,495 tax bill. - Telegraph

  • Monday newspaper round-up: Petrol stations, house prices, Octopus Energy

    Monday 27 Sep 2021

    (Sharecast News) - Hundreds of soldiers could be scrambled to deliver fuel to petrol stations running dry across the country due to panic buying and a shortage of drivers under an emergency plan expected to be considered by Boris Johnson on Monday. The prime minister will gather senior members of the cabinet to scrutinise "Operation Escalin" after BP admitted that a third of its petrol stations had run out of the main two grades of fuel, while the Petrol Retailers Association (PRA), which represents almost 5,500 independent outlets, said 50% to 90% of its members had reported running out. It predicted that the rest would soon follow. - Guardian

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