Monday newspaper round-up: Jobs warning, deficit deceit, energy price cap

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Monday newspaper round-up: Jobs warning, deficit deceit, energy price cap

Mon, 15 May 2017
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Monday newspaper round-up: Jobs warning, deficit deceit, energy price cap

(ShareCast News) - British workers should brace themselves for rising unemployment and falling real pay in the year ahead as the impact of a Brexit slowdown is increasingly felt in the jobs market, reports have warned. The era of rapidly increasing employment is over, according to the forecasting group EY Item Club, which on Monday predicted the unemployment rate will rise from 4.7% now to 5.4% in 2018 and 5.8% in 2019. - Guardian
Britain could see its fourth deficit rule in as many years, economists believe, as the Government has to keep adapting its borrowing targets. The rules are intended to show voters and financial markets that the national debt is under control, though economists fear that "moving the goalposts" undermines the purpose of the rules altogether. - Telegraph

One of the energy companies' main arguments against a price cap has collapsed after the competition watchdog's alternative plan to help consumers was shelved indefinitely. The industry has argued that reforms proposed by the Competition and Markets Authority last year should be allowed to work before the government intervenes further in the market. - The Times

Emmanuel Macron will on Monday use his first international trip to try and persuade Germany to build a common eurozone budget, a day after being sworn in as France's youngest ever president. He also hopes to discuss plans for a Buy European Act, ramping up European defence, and German investment to boost EU growth. - Telegraph

The massive ransomware attack that caused damage across the globe over the weekend should be a "wake-up call" for governments, the president of Microsoft has said. Security officials around the world are scrambling to find who was behind the attack which affected 200,000 computer users and closed factories, hospitals and schools by using malicious software that believed to have been stolen from the US National Security Agency. - Guardian

Small and medium-sized businesses are "pulling back" from international trade as they struggle with higher import costs and lower profit margins. An analysis of currency transactions has found that smaller companies transferred 17 per cent less on average in the first three months of this year compared with the end of 2016, according to World First's global trade barometer. - The Times

Care homes will run out of beds for vulnerable elderly people within two to three years as the sector heads for a "widespread capacity crisis", a market research company has warned. Bed shortages would hit poorer older people hardest because the looming squeeze would affect those with fewer assets and those in the least affluent parts of the country, the company said. - The Times

Business leaders have called for the next government to build two more runways, demanding that a follow-up Airports Commission be established only months after Heathrow's third runway was approved. The Institute of Directors urged that a fast-track commission be set up immediately after the election to recommend locations for two additional runways within a year. - Guardian

Google has attempted to address advertisers' concerns that they are funding illegal and offensive websites by pledging stricter controls on where online adverts appear. The internet giant's advertising network AdSense will remove adverts on a page-by-page basis, instead of targeting entire websites. - Telegraph

One of Britain's highest-profile technology entrepreneurs has taken a significant stake in Finncap and has been lined up to become its deputy chairwoman. Vin Murria also will become a strategic adviser to the City stockbroker, whose chairman is Jon Moulton, founder of Better Capital, the venture capital firm, and whose chief executive is Sam Smith, the first woman to run a stockbroker. - The Times

Aviva is hoping to attract more staff aged 50-plus with the help of a carer scheme. The insurance giant has been trying win over millennials, born between 1980 and 2000, as the financial services sector faces a shortage of talent and an unfashionable image. But it is now looking to an older generation. - Telegraph

Formula One's new owner Liberty Media has unveiled a five-year business plan to steer the sport away from what it says was a "very short-term focus" under former supremo Bernie Ecclestone. In January Nasdaq-listed Liberty paid $8bn (£6.2bn) to buy F1's parent company Delta Topco from the private equity firm CVC. - Telegraph

Dyson plans to reopen its legal battle with German engineering group Bosch after securing a victory in the European courts last week. The company founded by billionaire entrepreneur Sir James Dyson won an appeal in the European Court of Justice related to the way in which the energy efficiency of its devices are measured. - Telegraph

NASDAQ 100 Top Risers

Name Last Chg.% Time
American Airlines Group 46.29 1.92 22:33
Netflix Inc. 188.78 1.76 23:01
Shire Plc Ads 155.36 1.28 22:34
Discovery Communications Inc. Class C 20.30 1.15 22:30
Seagate Technology Plc 32.72 1.05 23:10

NASDAQ 100 Top Fallers

Name Last Chg.% Time
JD.com, Inc. 42.98 -3.29 23:04
Mercadolibre Inc. 281.87 -2.87 22:34
Nvidia Corp. 180.76 -2.73 23:07
NetEase Inc. Ads 277.62 -2.09 23:03
Symantec Corp. 33.04 -2.02 22:45