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Friday newspaper round-up: Greece, Morrisons, FirstGroup

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Friday newspaper round-up: Greece, Morrisons, FirstGroup

Fri, 16 June 2017
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Friday newspaper round-up: Greece, Morrisons, FirstGroup
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(ShareCast News) - For the best part of a decade, Greece has wanted to become a "normal" country, and late on Thursday it appeared to begin that process, after creditors agreed to disburse €8.5bn (£7.4bn) of bailout funds aimed at putting the debt-stricken nation back on the road to recovery. The money, signed off after months of disagreement between the European Unionand International Monetary Fund over how to reduce Athens' staggering debt pile, will be released in July, once European parliaments ratify the deal. - Guardian
More than half of Morrisons shareholders have failed to back the supermarket's bosses' pay package in a massive protest vote. Investors representing 48% of its shares voted against the company's remuneration report, rising to 51% with abstentions, as Morrisons held its annual shareholder meeting at its HQ in Bradford on Thursday. - Guardian

The company behind some of London's largest estate regeneration projects has been sold by its Chinese owner to private equity firm Starwood and a newly-established asset management firm. Pinnacle carries out regeneration projects across the UK in partnership with councils. It has been owned by the Cheng family, whose company Knight Dragon owns vast swathes of the Greenwich Peninsula. -Telegraph

Fast-growing industrials business Liberty has been spurned in its attempts to buy Australian collapsed steel and mining business Arrium. Entrepreneur Sanjeev Gupta had been hoping to rescue the South Australia business out of administration to expand his UK-based Liberty Industries Group, part of the GFG Alliance which has energy and mining interests. - Telegraph

The chief executive of Firstgroup has had his £723,415 annual bonus withheld because of the Croydon tram crash in which seven people died and 58 were injured. In its annual report, published yesterday, the company told shareholders that it would not be appropriate for Tim O'Toole, 61, to get the cash and shares that he would otherwise have been due. - The Times

A leading shareholder in Fusionex has succeeded in an effort to delist the company from the Alternative Investment Market in a move that has angered minority shareholders and raised questions about the regulation of London's junior market. Ivan Teh, chief executive and founder of the software and IT group, said he was "grateful for the overwhelming support we received from our shareholders who voted in favour of the proposed delisting". - The Times