Friday newspaper round-up: Boeing, Ryanair, business rates, John Lewis

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Friday newspaper round-up: Boeing, Ryanair, business rates, John Lewis

Fri, 24 February 2017
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Friday newspaper round-up: Boeing, Ryanair, business rates, John Lewis

(ShareCast News) - Boeing plans to open its first manufacturing plant in Britain, picking Sheffield to make critical parts for its best-selling 737 and 777 airliners. The company has earmarked the Northern city for a £20m investment where it will produce complex parts for "actuators" which move flaps on the jets' wings. The decision is notable as the US aerospace giant is bringing work in-house, rather than subcontracting it out to the supply chain as is common. - Telegraph
Budget airline Ryanair has urged the Government to secure agreements which mimic those allowing barrier-free travel between the UK and EU. The Irish carrier said it transports roughly 40pc of the approximately 25.3 million European tourists who come to the UK from the Continent and it would be crucial for the Government to ensure agreements in place now, which allow carriers to freely fly between the UK and mainland Europe, were replicated entirely by the time the country exits the bloc. - Telegraph

The government is under growing pressure to overhaul the business rates system rather than just offer help for small firms affected by the revaluation of properties. Theresa May, the prime minister, and Sajid Javid, the communities secretary, told parliament on Wednesday that small businesses facing a sharp increase in their business rates bill from April could receive support in the budget next month. However, business leaders and MPs are now pushing the chancellor for a wider review of the controversial tax. - Guardian

John Lewis is to axe nearly 800 jobs in its customer restaurants and store administration in its biggest ever round of redundancies. The department store chain said it was consulting 773 people about redundancy as it attempts to cut costs and become more efficient. The cuts are the first sign of change since the department store's managing director, Paula Nickolds, took the helm in late January. - Guardian

A Eurosceptic coalition of City grandees is calling on Theresa May and Mark Carney to put the planned £24 billion merger of the London Stock Exchange and Deutsche Börse on hold for two years. They claim it would be destabilising for the deal to take place while Britain negotiates its departure from the EU. - The Times

President Trump's promise to quickly introduce a "phenomenal" package of tax cuts is likely to face delays, the new US Treasury secretary suggested yesterday. Steven Mnuchin said that the White House was working with Republican leaders in the House and Senate to push through "very significant" tax legislation before August. - The Times

NASDAQ 100 Top Risers

Name Last Chg.% Time
Micron Technology Inc. 30.69 3.40 23:09
O'Reilly Automotive Inc. 201.58 2.85 21:39
Ross Stores Inc. 54.37 2.53 22:46
Mercadolibre Inc. 241.90 2.47 22:39
Ulta Salon, Cosmetics & Fragrance Inc. 243.43 2.42 22:45

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Ctrip.Com International Ltd. Ads 50.14 -2.74 23:08
Incyte Corp. 124.34 -1.61 23:03
CSX Corp. 50.38 -1.47 22:09
Nvidia Corp. 165.15 -1.10 23:10
QUALCOMM Inc. 53.31 -1.04 23:09