Newspaper Summary
The Times
Landlords raise home rental prices: It was good news for landlords but bad news for tenants as a recent national slowdown in rent rises was reversed when Home Let published figures suggesting that prices had risen by 2.1% last month.
German carmakers drive rise in output: The German economy has picked up speed, with industrial producers recording their largest monthly rise in output in more than six years.
Hedge funds go big on sterling as they shrug off Brexit fears: Hedge funds have made their most bullish bet on the pound in more than three years, shrugging off concerns over the outcome of Brexit talks.
The battle on oil prices is being won, claims Opec: The secretary-general of Opec has claimed that the oil export organisation is close to victory in its fight to rebalance the global crude market.
Yougov is big winner from election surprises on both sides of Atlantic: The polling, analytics and data group that correctly predicted a hung parliament in then general election has reported a jump in annual profit.
Small generators take on Ofgem over subsidy cuts: The energy regulator is facing a legal challenge from the owners of small diesel and gas generators over plans to cut the payments they receive for producing electricity at peak times.
Buzzfeed puts £3.3 million loss on its list for 2016: Buzzfeed U.K. suffered a £3.3 million loss last year as the digital media company funded expansion into new overseas markets.
The Independent
U.K. tourism spending surged by £872 million last year: An extra £872 million in visitor spending was generated across the U.K. over the past year, according to official data released on Tuesday.
GlaxoSmithKline worst among business groups list of well-run companies: Pharmaceuticals giant GlaxoSmithKline (GSK) has been ranked bottom in a list of the U.K.’s top companies for good governance.
Publishing Executive pay ratios may not help to reduce inequality: Forcing companies to publish the pay ratio between Chief Executives and their U.K. workers is unlikely to reduce pay inequality and may actually lead to firms being unfairly criticised by the public, according to a new study.
Trinity mirror posts third-quarter decline: The publisher of the Daily Mirror newspaper has posted a decline in third-quarter revenue as talks to acquire Daily Express owner Northern & Shell continue.
French Bankers expected to return to Paris post-Brexit: While most London-based bankers are brushing up on their German to prepare for a move to Frankfurt post-Brexit, senior staff at French investment banks expect to bow to Government pressure to bring jobs home to Paris.
Shoppers will see price rises unless EU workers are allowed to stay: Shoppers will be hit by price rises and slow deliveries unless EU nationals are allowed to work in the U.K. after Brexit, Britain’s retail body has warned.
Consumer spending spikes but year-on-year trend remains gloomy: British consumer spending jumped in September, but not by enough to halt a year-on-year decline that reflects rising living costs, a survey by payments company Visa showed on Monday.
Boycotted Qatar plans to raise at least $9 billion through bond sale: Qatar is considering raising at least $9 billion from international bond markets as the gas-rich nation boycotted by its neighbours seeks to replenish state coffers, people familiar with the matter said.
EU banking watchdog to publish guidance on new hubs for banks seeking EU base post-Brexit: The European Union’s banking watchdog will publish guidance on new EU hubs for lenders from Britain seeking a base in the bloc after Brexit, its Chairman said on Monday.
U.K. retail sales boosted by higher food and clothes prices in September: Retail sales grew in September, supported by higher food and clothing prices on the back of the Brexit-hit pound.
The Daily Telegraph
Government faces EU scrutiny over ‘illegal state aid’ of BT in push for ultrafast broadband: The Government is under scrutiny by European competition authorities over allegations of providing illegal state aid to BT via the business rates regime, amid plans to boost investment in Britain’s broadband infrastructure with new tax breaks.
Majority owner of Millennium & Copthorne moves to buy rest of hotel group in deal worth £1.8 billion: The majority owner of Millennium & Copthorne hotels has moved to take the company private with a bid that values the U.K.-listed business at £1.8 billion.
Amec FW’s North Sea assets sold to WorleyParsons to seal Wood Group takeover: Wood Group has completed its £2.2 billion swoop on Amec Foster-Wheeler with the sale of its takeover target’s North Sea assets to Australian engineering group WorleyParsons.
Profits rack up for FTSE 100 firms with eye on mental health, study finds: FTSE 100 businesses that used the words ‘mental health’ or ‘wellbeing’ more than twice in their annual reports last year raked in up to three times more profit than those that didn’t, researchers have found.
Shoppers forced to spend more as prices rise: British households are spending more in the shops - but largely because of higher prices, rather than because they are taking more goods home.
More international trade would boost jobs and pay: Millions of extra well-paid jobs could be created if the recent slowdown in global trade is reversed, the International Labour Organisation has said.
The Guardian
Ministers plan reforms to prevent repeat of Monarch collapse: Reforms to let financially stricken airlines keep flying, and protect passengers from being stranded by a sudden collapse, will be sought by the government following the demise of Monarch.
Frankfurt steps up efforts to lure €1tn-a-day euro clearing from U.K.: London’s dominance of the €1 trillion-a-day (£890 billion) euro clearing market is facing a new threat after the Frankfurt stock exchange announced a plan designed to lure the lucrative business from the City as a result of the Brexit vote.
Staycations on the rise as Britons use debit cards less abroad: Debit cards are being used less often abroad because the fall in the pound after the EU referendum has encouraged more Britons to holiday in the U.K., the banking industry has claimed.
Royal Mail seeks injunction to halt 48-hour postal strike: Royal Mail is seeking a high court injunction to stop a planned 48-hour strike by postal workers after the Communication Workers Union did not meet a midday deadline to withdraw industrial action.
Bank of England under pressure for interest rate rise after ONS error: The U.K.’s official statistics agency has added to the pressure on the Bank of England over whether to raise interest rates as soon as next month after admitting it underestimated the pace of rising labour costs.
David Cameron takes job with U.S. electronic payments firm: David Cameron has taken a job with the electronic payments firm First Data Corporation, his first major private sector job since leaving office.
Mega-battery plant to come online in Sheffield: Britain’s switch to greener energy will take another significant step forward this week with the opening of an industrial-scale battery site in Sheffield.
Daily Mail
Petra Diamonds shares stumble over debt fears after strikes at three of its South African mines: The company said it is likely to breach its banking covenants by the end of the year as a result of strikes at three of its mines in South Africa and a row with the government in Tanzania.
Audiences flock to see stop motion animation with the decades old technique bringing in more cash than CGI effects: Stop-motion animation is bringing in more cash than high-tech computer-generated effects at the studio behind Shaun the Sheep. Aardman Holdings said the laborious technique – used to bring plasticine characters Wallace and Gromit to life – is back in vogue.
Nightclub brawl breaks out as £101 million battle for Revolution bars turns nasty: A takeover war has broken out between Revolution bars, the owner of Slug and Lettuce pubs and a nightclub operator.
Car parts maker TI Fluid Systems plots £1.5 billion float after abandoning earlier bid following Brexit vote: A car parts maker has revived plans to join the stock market in London having abandoned an earlier flotation bid following the Brexit vote.
New Aldi U.K. distribution hub in Bedford will be the size of 20 football pitches and create 400 jobs: Discount supermarket Aldi is building a new distribution hub in the U.K., securing 400 jobs. The grocer has submitted plans to build a new 21 acres facility in Bedford – the equivalent size of 20 football pitches.
Daily Express
Eurozone banks set for rate shocks after sudden lending freeze tightening, says ECB: Eurozone banks are well prepared for sharp changes in interest rates, the European Central Bank has said after simulating scenarios from sudden monetary tightening to the lending freeze that followed Lehman Brothers’ collapse.
Pensioners may have to give up on their dream home: Pensioners may have to give up on their dream of a retirement bungalow as the number up for sale drops to a record low.
Carriers face a very rough ride amid increasing competition: Monarch’s demise could be the fate of more European airlines amid an ultra competitive and fragmented market, experts have warned.
Bitcoin jumps to one-month high - despite fork looming: Bitcoin’s price has jumped to a one month high, despite fears the cryptocurrency’s value could be soon be hit by a fork.
Airbus shares tumble after CEO warns of ‘turbulent times’ amid fraud and corruption probe: Airbus shares fell with traders attributing the decline to comments from the company’s Chief Executive who had warned of turbulent times ahead for the European planemaker.
The Scottish Herald
Port Ellen and Brora distilleries to be revived in £35 million plan: Diageo is bringing two of the most revered “lost” distilleries in Scotland back to life, in a £35 million project.
Sterling woes fuel inflationary pressure: Scottish companies faced growing cost pressures in September, fuelled by sterling’s post-Brexit vote weakness, as the private sector economy continued to grow at a modest pace, a survey shows.
Sterling gains ground as worries of U.K. political turmoil subside: The pound gained ground as worries over Theresa May’s leadership subsided amid rumours of a cabinet reshuffle.
Project manager PMP unveils bid to double turnover: PMP, the Edinburgh-based building surveying and project management firm, has brought new Director Stewart Rutherford on board as it looks to double its turnover over the next three years.
Vegan ‘meat’ firm in listings boost: A Renfrewshire food producer which specialises in vegan “meat” products has secured shelf space with every Whole Foods store across the U.K.
The Scotsman
Jobs help urged as BAE Systems set to announce cuts: The Government is being urged to help save jobs at defence giant BAE Systems, which is set to announce cuts at sites making the Eurofighter Typhoon jet.
Liberty House buys Livingston firm Shand Cycles: Efforts to pump up bike manufacturing in the U.K. have received a boost after a deal was struck by metals business Liberty House to acquire West Lothian-based Shand Cycles.
Farmer sets up U.K.’s most northerly tea plantation: A farmer has set up the most northerly tea plantation on the British mainland.
Up to 130 million barrels of oil found in North Sea: Norwegian energy giant Statoil has announced that a new discovery in Scottish waters could contain in the range of 25 to 130 million barrels of oil.
Tesco among shops to ignore deadline for rejecting old £1 coins: Tesco is one of thousands of shops set to ignore the 15 October deadline for rejecting old £1 coins despite chaos concerns.
City A.M.
Centrica’s CEO tries to plug share price slide by buying £173,100 worth of stock: The Chief Executive of British Gas owner Centrica has attempted to reverse the company’s tumbling share price, by buying more than £173,000 worth of shares for himself.
Morrisons employees sue supermarket in data leak class action: More than 5,500 Morrisons staff are suing their employer for damages after personal information was leaked online, in the first ever data leak class action suit.
Maje and Sandro owner SMCP plans a €2.2 billion IPO in Paris: The company behind French fashion labels Sandro, Maje and Claudie Pierlot is planning a float on the Euronext Paris, valuing the company at up to €2.2 billion.
DX Group shares surge as it unveils £24 million fundraising plans and new Boss: Shares in DX Group rose more than 25% in afternoon trading after the delivery firm announced £24 million in fundraising and the appointment of a new Chief Executive.