Newspaper Summary
The Times
Bosses lose faith in economy: Confidence among both large and small businesses has collapsed amid mounting concerns over the domestic political backdrop and fresh evidence that households, the engine of recent economic growth, are tightening their belts.
British shareholders excluded from Santander’s €7.1 billion cash call: Santander has gone back on a plan to allow its private British shareholders to take part in a €7.1 billion capital- raising this month.
Tata attempts to say ‘hello again’ with Air India deal: Once hailed as the maharaja of the skies, Air India has become more a source of national embarrassment than pride. Lurching from crisis to controversy, regularly topping lists for cancelled flights and shabby service, it has run up debts of more than £6 billion despite gobbling up government bailouts. And last month, finally, the Modi government said that enough was enough. Air India had to go.
Vue cinema chain set to put itself up for sale next year: Vue is set to put itself up for sale next year, having started from nothing less than two decades ago to become the sixth largest cinema chain in the world.
Allied Irish Banks float boosts parade before London market: A surge of activity at the end of June pushed the amount raised by companies coming to the London Stock Market in the first half of this year to more than twice the level of the same period in 2016.
Europe and Japan keep door open for Britain: The European Union and Japan have put an “extended accumulation clause” into their trade agreement that could help British companies to take advantage of Europe’s biggest trade deal after Brexit.
Industrial strategy ‘must help all regions’: An industrial strategy for Britain will succeed only if institutions are created that put responsibility for delivering the long-term economic framework at the heart of government and reach across the regions.
Open water supply competition, Gove told: Michael Gove has been urged to open competition in the water industry after latest figures showed that less than 1% of businesses have switched provider.
The Independent
Theresa May’s plans for EU citizens branded a ‘damp squib’ by the European Parliament: The European Parliament has branded Theresa May’s proposals on EU citizens’ rights a “damp squib” and said they will not approve a Brexit deal that does not offer more.
Brexit will cause an ‘alarming mess’ for U.K. nuclear power, scientists warn: Brexit will create “an alarming mess” for nuclear power stations in the U.K., experts have warned, saying it could even cause major power cuts.
Theresa May should not rush into U.S. trade deal, CBI President warns: The President of one of the most influential business groups in the country has warned Theresa May not to rush into a trade deal with the U.S.
U.K. trade deal with the U.S. will not make up for the damage caused by Brexit, Justice Secretary David Lidington says: A trade deal between the U.K. and the U.S. would not be enough to offset the damage caused by Brexit, a cabinet Minister had admitted.
The Daily Telegraph
British engineer TP Group raising £23.9 million war-chest for acquisition spree: British specialist engineering services provider TP Group is embarking on a fundraising to build up a £23.9 million war-chest as it eyes acquisition targets in the defence, aerospace and government sectors.
Top bankers back calls for revamp to protect small firms: Senior financiers have thrown their weight behind calls to overhaul the compensation system for small businesses and measures to make it harder for banks to sell on loans, as part of wide-ranging proposals to protect firms.
Ofcom kicks off fresh battle for the airwaves with 5G auction: The telecoms watchdog will this week kick off a multibillion-pound auction of mobile airwaves that is viewed as a crucial step on the path towards next-generation 5G internet access.
BBC considers app cull to take on Netflix and Amazon: The BBC is considering a cull of its mobile apps in the next phase of its rearguard action against the growing influence of Netflix and Amazon.
Formula One investors race to cash in shares: Half a dozen hedge funds that bankrolled John Malone’s $4.4 billion (£3.4 billion) takeover of Formula One are cashing in their investments less than a year after the U.S. media mogul took the keys to the sport.
Thames Water faces battle to clean up its act: Steve Robertson spent much of his first six months as Chief Executive of Thames Water in a courtroom in Aylesbury, facing questions over one of the water industry’s biggest pollution scandals.
Virgin Trains hires extra staff to deal with rising complaints: Virgin Trains will hire 25 more staff to handle passenger complaints on its West Coast rail franchise after concerns were raised by a consumer body.
The Guardian
German industry warns U.K. not to expect help in Brexit negotiations: German industry has warned Britain not to rely on its help in securing a good Brexit deal, in a stark intervention that strikes a blow at the government’s EU departure plans.
Heathrow hotel operator drafts £6.7 billion cheaper third runway plan: A wealthy hotel operator has submitted plans for a third runway at Heathrow which he claims would be £6.7 billion cheaper than the airport’s current scheme.
Trump’s growth problem: jobs boost masks trouble ahead for U.S. economy: June shone a little brighter for Donald Trump’s plans to Make America Great Again. After several months of disappointing jobs growth, U.S. hiring picked up steam again. But beneath the surface there’s a problem for the President: the U.S. economy appears to be running out of gas.
Daily Mail
Airbus will be damaged by Brexit says EU’s Chief negotiator Michel Barnier: The European Chief negotiator for Brexit, Michel Barnier, has singled out Airbus as one of the firms which could be badly damaged by a harsh exit for Britain from the EU.
Apple moves to poach staff from Imagination Technologies as opens new office only 8 miles away from rival: Apple has launched an attack on iPhone chip maker Imagination Technologies by opening a new office close to its headquarters. The move is the latest twist in the saga involving the two firms, which have been locked in a bitter war of words after Apple told Imagination it would no longer use its graphics chip technology in iPhones and iPads.
Lidl expands in U.K. as plans to add 60 new supermarkets in £1.5 billion investment: Low-cost grocer Lidl is ramping up its expansion plan by opening between 50 and 60 supermarkets a year for the next two years as part of a £1.5 billion investment into the U.K.
Scandal-hit banker in talks on taking top job at Visa Europe after exit from Bank of England: Charlotte Hogg is poised to return to a top city job less than four months after resigning over a failure to disclose a conflict of interest.
Facebook CEO rumoured to buy Tottenham for £1 billion: An investment firm backed by Facebook Boss Mark Zuckerberg is rumoured to be considering a £1 billion bid for Tottenham Hotspur. Iconiq Capital has held talks about a possible bid for the North London club.
Daily Express
Brexit hitting house prices is a myth: This is the real issue, says top estate agent: Draconian tax measures are the real reason house prices are faltering - not Brexit - according to a top estate agency.
House price pick-up allays fears of property market crash: There has been so much fuss about the recent economic slowdown you might think the U.K. is about to fall off a cliff and take the housing market with it.
Brexit or not, housebuilders will continue to profit, says Harvey Jones: Few stocks were harder hit by last year’s EU referendum result than U.K. housebuilders, with the likes of Barratt Developments, Persimmon and Taylor Wimpey losing up to 40% of their market value within days.
PageGroup remains strong candidate for investors despite fears of slow economy: Recruitment specialist PageGroup remains a strong candidate for investors seeking dividend income despite fears that the slowing global economy could hit the jobs market.
GoCompare remains on course for strong full-year growth: GoCompare.com will remain on course for strong full-year growth in revenues despite reporting a first-half slowdown this week.
Housebuilders dig in for solid profits as sector enjoys surge: The nation’s largest housebuilder Barratt Developments will underpin growing confidence in the housebuilding sector when it reports healthy growth this week.
The Scottish Herald
Private sector suffers growth slowdown: Growth in Scotland’s private sector economy slowed in June as the expansion of the country’s manufacturing sector eased, a key survey has shown.
Football loving IT entrepreneur aims to combine passion with pragmatism in business: After official figures showed services businesses helped Scotland achieve surprisingly strong growth in the first quarter we hear from one of the technology firms that are helping to drive the success of the sector.
The lady’s not for listening: I’ve been reflecting on the U.K. General Election result and am beginning to wonder whether our leading politicians are - not quite sure how to put this delicately - not very bright.
M&S to reveal boost for struggling clothing arm after heatwave and late Easter: Marks and Spencer is set to reveal an improvement in its under-pressure clothing arm next week after the recent heatwave and late Easter helped it narrow recent sales falls.
The Scotsman
What does it costs to buy a home in Edinburgh?: How much do you really need to save to purchase a property in Edinburgh, which areas suit your budget, and when is it time to buy? The idea of buying a home is exciting but also overwhelming, particularly for first time buyers.
Remote Highland peninsula earmarked for satellite launchpad: A remote Highland peninsula could be the site of Britain’s first launchpad for future space missions under new plans submitted to the U.K.’s space agency.
Glasgow’s TRNSMT festival success to add £10 million to local economy: Scotland’s newest music festival, TRNSMT, has been hailed a success and is expected to have added at least £10 million to the local economy.
City A.M.
Genomics and other innovative ways to bring down soaring healthcare costs: Genomics, the branch of molecular biology that maps human genomes, is changing how drugs are discovered as the pharmaceutical industry integrates genetic information into the process.
A consortium including Austin Reed’s owner is circling controversial hire-purchase business Bright House: Once under fire for saddling consumers with debt, it is now the turn of hire-purchase electricals chain Bright House itself to deal with a mounting debt problem.
Burberry faces shareholder revolt over “excessive” pay for Christopher Bailey: Burberry has come under fire for handing an “excessive” pay award to its outgoing Chief Executive.
Tesco Chairman John Allan lined up for top job at the Confederation of British Industry: The Chairman of Tesco, John Allan, is set to become the vice President of the Confederation of British Industry (CBI).
Schneider Electric rekindles merger talks with Aveva... Again: French software multinational Schneider Electric is attempting a new merger with the U.K.’s Aveva, its third in two years.