Newspaper Summary
The Times
Interest rate rise could ruin 80,000 businesses: One in 25 businesses, or nearly 80,000 enterprises, would struggle to handle an increase in interest rates of as little as a quarter of a percentage point, according to research by the insolvency trade body, in the clearest sign yet of the fragile state of corporate balance sheets.
Amazon Fresh puts more homes on its food delivery map: Amazon is to deliver food to another 42 postcodes in the south east of England as its aggressive assault on the online grocery market continues.
Tough times put nightclub owner Deltic’s float on ice: Britain’s biggest nightclub operator has put a stock-market listing on ice until next year because of challenging trading conditions and pending completion of a refurbishment of some venues.
World Bank forecasts 4% rise in global trade: Global trade will defy fears of protectionism in America to grow at its fastest pace this year since 2014, according to World Bank forecasts. Having slowed for two years, global trade volumes are expected to rise 4% this year. The world economy is forecast to expand by 2.7%, up from 2.4% in 2016.
Relations sour in pre-Brexit sugar war: British Sugar has embarked on a Back British Sugar campaign, in opposition to Tate & Lyle Sugars, which campaigned to leave the EU. British Sugar, part of Associated British Foods, produces its Silver Spoon brand from British beet, but Tate & Lyle’s sugar is refined from imported cane.
Shell slashes North Sea costs to make profit in a crash: Royal Dutch Shell has cut operating costs for some of its North Sea fields by 70% since the price of crude crashed, the oil company said.
VE Interactive Founder David Brown set for showdown with administrators: The Founder of a one-time technology high flyer will go head to head with the group’s new owners to determine the future of what was once one of the country’s most promising startups.
U.S. investors go short as Micro Focus deals nears: Two American activist investors have taken short positions in Micro Focus ahead of an $8.8 billion acquisition of Hewlett Packard Enterprise’s software business.
The Independent
Airline offers full refund on flights to London in days after attacks: Malaysia Airlines has told customers they can get a full refund for any flights booked to London over the coming days in the wake of Saturday’s terror attacks.
Uber slammed for being slow to turn off ‘surge pricing’ after rampage: Ride sharing service Uber has been criticised for being too slow to turn off its “surge pricing” feature after Saturday night’s deadly terror attacks in London.
The Daily Telegraph
Global recovery drives World Bank triple growth upgrade for U.K. economy: The World Bank has upgraded its forecasts for U.K. growth over the next three years against a stronger global backdrop that will boost the British economy despite its weak start to the year.
SEGRO to embark on major development programme: SEGRO is set to launch a major new programme of development across the South East as it looks to take advantage of new rail and air links.
Manufacturers shrug off economic fears as export orders continue to flow: Britain’s manufacturing industry is getting a boost from the weaker pound which is strengthening export demand, offsetting concerns about the election and prospect of Brexit.
Car industry hopes for recovery after sales plunge on new tax on emissions: Punitive taxes on new cars, which sent vehicle sales into freefall in their first month, are still putting the brakes on the industry, new registration data are likely to show this week.
Italy faces borrowing shock when ECB removes support, warns Pimco: Italy faces a “horror” scenario when the European Central Bank winds down its bond buying programme in a move that risks sparking a surge in the country’s borrowing costs, according to one of the world’s largest bond managers.
Another slice of Domino’s Pizza set for London listing: Another slice of Domino’s Pizza is set to be served on the London Stock Exchange as the brand’s second master franchisee readies a listing in the U.K.
BMI Regional ‘actively considering’ replacing quarter of fleet with larger craft: The airline BMI Regional is looking to replace up to a quarter of its fleet with larger aircraft as it seeks to double down on its most popular routes.
The Guardian
Philip Green fashion empire hit by 16% fall in profits: Sir Philip Green’s fashion empire suffered a 16% fall in profits last year as the billionaire’s Topshop-to-Miss Selfridge group struggled with difficult trading on the high street.
HSBC cash sweetener aims to entice staff to new Birmingham HQ: HSBC is offering its employees cash bonuses of up to £2,500 if they can convince a colleague to move from London to the bank’s new British headquarters in Birmingham.
Canada calling: tech industry lures workers north in wake of Trump: The ads were launched months before Donald Trump was elected President and they got straight to the point. “Thinking of moving to Canada?” read one, set to a backdrop of the Republican candidate at a rally. Another made by a startup in southern Ontario featured Trump flashing a thumbs up.
Government support needed to unlock billions in green business, says industry: The U.K. could be a green business powerhouse in the next three decades, but only if given proper support by government, a group representing more than 30 low-carbon companies has said.
Daily Mail
Sir Martin Sorrell facing backlash despite £22 million pay cut: The highest-paid man on the FTSE is facing another investor revolt over his multi-million-pound package. Around a quarter of shareholders are expected to protest against Sir Martin Sorrell’s £48 million pay and bonus deal during WPP’s annual meeting on Wednesday.
Volvo designing self-driving rubbish truck that follows bin men down the road ‘like a dog’: Volvo Group and Renova are working on a truck that follows the bin man along the street as he goes from one house to the next, meaning he doesn’t need to constantly hop in and out or have a separate driver.
Ocado signs deal to provide software and support for mystery European retailer: Online supermarket Ocado has signed a deal with a mystery European retailer to provide software and support as it sets up a delivery service. Ocado said that discussions with other retailers around the world were ongoing and it expects to sign more deals soon.
Heathrow proposes plan to build bridges over the M25 to support third runway: Heathrow has floated the idea of building three giant ‘viaducts’ to support its proposed third runway as it crosses over the M25.
Investors call for Tesco to halt Booker takeover claiming it might undermine supermarket’s recovery: Tesco’s £3.7 billion takeover of wholesaler Booker is facing fresh opposition from the supermarket’s major investors.
Daily Express
Small businesses want to simplify regulations and slash red tape after election: Small businesses want the next Government to have a bonfire of red tape and axe changes to business rates, according to research from specialist lender Hitachi Capital Business Finance.
Small businesses are the bedrock of the economy, says Geoff Ho: Small businesses are the bedrock of the economy but neither of the main political parties seems to want to help them deliver for Britain, in what are increasingly uncertain economic times.
The Scottish Herald
Trendspotting toy distributor sends sales into a spin: A Glasgow toy distributor renowned for his ability to spot a trend early is hoping to see a sharp increase in profits after being “sharp off the mark” in the fidget spinner craze which has swept across playgrounds in recent weeks.
Anderson Strathern continues to build in private client: Anderson Strathern has continued to build its private client practice with the hire of a partner from rival firm Balfour & Manson.
AO World tipped to post poor results ahead of FTSE 250 departure: AO World will report its last set of results as a FTSE 250 firm on Tuesday, with analysts expecting a bad week for the company to get worse as it posts another set of annual losses.
Law firm buys diversity and inclusion specialist: Law firm Pinsent Masons has bought the Brook Graham diversity and inclusion consultancy for an undisclosed sum.
Big increase in first quarter dividends paid by global giants: The world’s biggest companies increased total dividend payments by 5.4 per excluding one offs in the first quarter as growth in the global economy provided a boost to profits, research has shown.
The Scotsman
Nicola Sturgeon: Scotland will be independent by 2025: SNP leader Nicola Sturgeon has said she believes Scotland will be independent by 2025.
U.S. ‘will hit green targets’ despite Trump decision: The United States will meet its Paris Agreement greenhouse gas targets despite Donald Trump’s withdrawal from the accord, former New York mayor Michael Bloomberg has said.
City A.M.
Online platform promises to create fully-functioning e-commerce businesses in six weeks: As the retail industry battles against the significant challenges posed by the growth in online retailing, digital commerce platform Kooomo is proposing to transform bricks-and-mortar retailers into e-commerce businesses in just six weeks.
British Airways in talks with Capita to offload call centres in Manchester and Newcastle: British Airways is in talks with Capita to outsource two of its call centres in Manchester and Newcastle in a bid to cut costs.
China will drive growth in the global wine market until 2021, according to Euromonitor International data: China is a major driving force in the global wine market and will contribute a third of world wine sales growth between 2016 and 2021, according to data from Euromonitor International.
Alibaba’s Jack Ma invited to join Aston Martin investor in The Body Shop race just days before the final bid deadline: As L’Oréal readies to accept the final bids for its ailing cosmetics chain The Body Shop, one bidder has made a late attempt to sweeten its offer by calling on Jack Ma, Founder of online marketplace Alibaba.
Biggest charity failure in years averted as councils step in at eleventh hour: Around 1,300 U.K. jobs have been saved after an eleventh hour deal was struck to avoid one of the largest charity failures of recent years.