Newspaper Summary
The Times
Purplebricks ‘bullied review website’ over negative responses: Purplebricks has been accused of “corporate bullying” by the operators of a consumer review website that the online estate agent has threatened to sue.
BHP Billiton breaks ranks to tackle climate issues: BHP Billiton is rethinking its membership of Australia’s leading mining organisation over differences on climate change.
Federal Reserve set to reverse years of quantitative easing: Almost nine years after the Federal Reserve began its quantitative easing programme to stabilise the American economy amid the financial crisis, it is expected to signal the start of a process that will slowly reduce the almost $4.5 trillion on its balance sheet. The process is quantitative easing in reverse, although Fed officials prefer to use the term “policy normalisation”.
Le Collectionist, ‘the Airbnb for the rich’, raises $10 million: A Parisian company that specialises in luxury holiday property rentals has secured $10 million of funding from investors led by François Pinault, the French billionaire.
French have the last word on printers: Printer manufacturers are facing a groundbreaking criminal lawsuit in France over claims that they deliberately limit the lifespan of their machines.
Hoteliers hit by shortage of staff and rising costs: The weak pound may have proved a boon to British hotels, but the rising cost of imported goods is starting to put a squeeze on margins while filling job vacancies is proving a challenge.
The Independent
Employers’ confidence in the U.K. economy hits lowest level since Brexit vote: Employers’ confidence in the U.K. economy has sunk to its lowest level since the Brexit referendum according to the latest survey by recruiters.
Zero-hour contract numbers fell sharply in 2017 hinting at slowing of workforce casualisation: The number of “zero hour contracts” fell sharply this year according to new data, suggesting that the trend of U.K. workforce casualisation might have “begun to unwind”.
Ocado sales rise overshadowed by fears over increasing costs: Online supermarket Ocado has cheered another strong quarter as it reported a pick-up in sales growth, but signalled a further hit from expansion plans.
Brexit raises doubts over U.K. fintech future: Britain’s impending exit from the European Union has put a “question mark” over the country’s attractiveness to financial technology firms, according to the head of France’s biggest peer-to-peer lender.
Intel teams up with Waymo’s self driving cars: Intel announced a collaboration with Alphabet’s Waymo self-driving unit, saying it had worked with the company during the design of its computer platform to allow self-driving cars to process information in real time.
The Daily Telegraph
Foreign bidders face new hurdles in British takeovers: Bidders for British companies will have to reveal if they plan to move the headquarters or shut down research labs under a planned overhaul of the takeover rules.
China mulls Moorside nuclear rescue deal to deepen roots in U.K. plants: China’s state-backed nuclear company is hoping to take an equity stake in the troubled £10 billion Moorside new nuclear project being developed by debt-hit Toshiba.
Heathrow urges Chancellor to scrap air tax on domestic flights in Budget: Heathrow is urging the Government to scrap a punitive travel tax on domestic flights to support economic growth as part of a nine-point Brexit plan.
French oil major Total in talks with Google as energy sector turns to AI: French oil company Total is in talks with tech giants Google and Microsoft to help develop bespoke artificial intelligence (AI) in the energy sector’s race to tap digital technologies.
Germany’s Müller to invest £100 million in British dairy operations: German dairy business Müller is defying worries about Brexit’s impact by revealing plans for £100 million of investment in its U.K. business.
Companies forced to consider pay rises as skills shortage bites: Britain’s businesses are increasingly running short of workers and will struggle to grow further with their current workforces, it has been claimed.
The Guardian
Public inquiry needed into U.K.’s £200 billion debt crisis, say senior MPs: The chairs of two powerful parliamentary committees have urged the government to set up an independent public inquiry into the £200 billion of debt amassed by households.
Government backs tighter rules on takeover of U.K. companies: Bidders for U.K. stock market listed companies must lay out more detailed plans for their target, including location of its head office and research and development investment, under proposed rules put forward by the takeover watchdog and backed by the government.
Millennials spend three times more of income on housing than grandparents: Millennials are spending three times more of their income on housing than their grandparents yet are often living in worse accommodation, says a study launched by former Conservative Minister David Willetts that warns of a “housing catastrophe”.
Yoko Ono halts sale of John Lemon lemonade: Yoko Ono Lennon has stepped in to rescue the name of her husband from fizzy pop reinvention, taking legal action to halt the sale of a lemonade called John Lemon.
Cadbury staff get sweet relief from inflation with new pay deal: Workers at three Cadbury plants have won an inflation-linked pay deal for the next two years, bringing employees relief from the squeeze on British households amid the rising cost of living.
Lloyd’s of London firm moves European base to Dublin over Brexit: One of Lloyd’s of London’s largest insurance syndicates is to move its European headquarters to Dublin because of Brexit; Ireland’s prime Minister has announced.
Tycoon says he needs subsidy to build Land Rover Defender successor in U.K.: The billionaire businessman Jim Ratcliffe has warned that it would only be possible to build a successor to the Land Rover Defender in the U.K., creating up to 10,000 new jobs, if the project receives government backing.
Daily Mail
French Connection prepares to open first shop in a decade as surge in demand for denim and knitwear help cut losses: A surge in demand for denim and knitwear helped French Connection cut losses as it prepared to open its first shop in a decade.
Reckitt Benckiser chairman Adrian Bellam to step down having guided firm through years of stellar growth: The man who guided Reckitt Benckiser through more than a decade of stellar growth is stepping down after criticism by investors.
Asset management consultant MJ Hudson opens Luxembourg office: Asset management consultant MJ Hudson has opened an office in Luxembourg to prevent any disruption after Brexit.
Toys R Us goes bust - but U.K. stores are safe: Firm turns to U.S. and Canadian courts with £3.7 billion debts: Toys ‘R’ Us became the latest victim of the slump on America’s Main Street as the company filed for bankruptcy protection. In what is believed to be the largest filing of its kind by a speciality retailer, the toy store applied to courts for permission to restructure debts of £3.7 billion.
Builders rise as brokers bet on house price rise despite spate of Bosses dumping shares: Analysts at broker Jefferies sent housebuilders higher after reiterating their faith in the sector despite a spate of Bosses appearing to call the top of the market.
Daily Express
Deutsche Bank: Central banks are out of ammunition if recession hits: Financial experts have warned central banks across the world are “out of ammunition” to combat a second global recession.
Pound slips as chaos continues following Boris Johnson’s Brexit comments: The pound has registered mild losses versus the euro this afternoon, although sterling has risen from the day’s worst levels after technical factors saw GBP tumble.
Esure could be for sale as Peter Wood looks to sell shares: Shares in motor insurer esure have risen following reports that its biggest stakeholder is looking to sell.
The Scottish Herald
Small businesses hit by plunging confidence: Confidence among small businesses in Scotland and the U.K. as a whole tumbled in the latest quarter, as higher inflation and domestic economic weakness weighed, a key survey reveals.
Snow centre Boss ‘liberated’ after management buyout is completed: The Owner of the company behind Scotland’s only indoor ski centre said he feels as though he has “got out of jail” after completing a management buyout of the business.
Fraud Academy puts insiders in spotlight as economic crime rises in Scotland: More than half of Scotland’s businesses have been hit by economic crime in the past year according to experts at PwC, which has launched what it calls a Fraud Academy to help tackle the issue.
Canalside homes plan for prominent Edinburgh site: An upmarket Edinburgh property developer has unveiled plans to build canalside homes on a former industrial site in the Fountainbridge area of city.
Clackmannanshire firm plans solar push as it moves into bigger premises: A Clackmannanshire-based manufacturer is gearing up to take advantage of growing demand for electric cars as it prepares to move into bigger premises.
Speyside welcomes solar project: The renewables division of Scottish Water has completed work on the utility’s largest solar panel scheme to date – in the heart of Scotch whisky country.
The Scotsman
KPMG cleared of wrongdoing after probe into HBOS audit: KPMG has been cleared by the accounting watchdog over its auditing of HBOS in the run-up to the lender’s near collapse in the 2008 financial crisis.
Lidl retains crown as fastest-growing supermarket chain: German discounter Lidl is once again the U.K.’s fastest-growing supermarket with a record market share of 5.3%, latest industry figures show.
Macfarlane boosts market share with biggest ever takeover: Scottish packaging firm Macfarlane Group further bolstered its significant market share with another deal in an acquisition spree that has seen it acquire seven companies in the past three years.
Paisley wins £10 million in backing for U.K. City of Culture bid: The Scottish Government has committed £10 million to Paisley’s bid to become the U.K.’s next culture capital.
The Black Isle loses its last remaining bank branch: A large swathe of the Highlands has been left without a bank branch for the first time in two centuries.
Glasgow offices to be transformed into Ibis Styles hotel: A disused office block on Glasgow’s Waterloo Street is set to be transformed into a new hotel.
City A.M.
The weaker pound means London’s hotel boom will continue into 2018, a new report says: London’s hotels are set to remain resilient next year despite challenges to the U.K.’s hospitality market, according to a report released.
London Stock Exchange Group signs pledge to support armed services and veteran employment: The London Stock Exchange (LSE) will sign a covenant pledging its commitment to supporting the armed forces and veteran employment.
Domino’s Pizza franchisee DP Eurasia grows market in Russia and Turkey: Shares in one of the biggest frachisees of Domino’s Pizza rose after it said it had tripled its sales in Russia during the first half of the year.
Thyssenkrupp works council says Tata Steel deal a “possibility”: Thyssenkrupp’s works council will consider a merger of the German group’s European steel operations with Tata Steel, softening its stance on a potential tie-up with the Indian group.
Flowgroup’s Boss triples shareholding as the company’s losses widen: Aim-listed energy provider Flowgroup’s Chief Executive tripled his shareholding in the company after it revealed its loss widened in the first half of the year.
Gaming technician Keywords Studios sees share price fall as investors wait for acquisitions: Keywords Studios, a business which provides technical services to the video gaming industry, released a strong set of half-year results this morning but saw its share price slide.