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Thursday newspaper round-up: Energy companies, money laundering, tech giants

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Thursday newspaper round-up: Energy companies, money laundering, tech giants

Thu, 16 March 2017
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Thursday newspaper round-up: Energy companies, money laundering, tech giants

(ShareCast News) - Energy companies are braced for a sharp political backlash on Thursday as MPs debate plans to intervene in energy tariff pricing to protect consumers who are slow to switch. Fifty MPs have backed calls from John Penrose, a Conservative former minister, demanding "immediate action" from Government to ease the pressure on 20 million households which are on standard energy tariffs. - Telegraph
The Government is to set up a new watchdog to close loopholes used by criminals as part of a wider clampdown on money laundering and terrorist financing. It plans to launch the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) - a new group that will sit within the Financial Conduct Authority (FCA) - by the start of next year. It comes as the Government moves to introduce new, stricter money laundering regulations that it said would ensure the UK meets the latest global standards. - Telegraph

Google and Facebook risk a boycott from the world's major advertisers unless they do more to clamp down on advertising fraud, which is costing the industry $16.4 billion this year, a leading industry figure said yesterday. Johnny Hornby, founder of The&Partnership, a media agency backed by WPP, said that the two tech groups, which together control an estimated 60 per cent of all digital advertising, had a duty to come together with media agencies, brands and advertising industry bodies to combat advertising fraud. Government should be brought in if necessary, he said. - The Times

Canary Wharf Group is in discussions to sell the 50 per cent stake that it manages and owns in the Walkie Talkie, one of the City of London's newer landmarks, for about £600 million, according to CoStar News. The group has approached agents about pitching for the mandate to sell the share in the building at 20 Fenchurch Street, at a level which would value the whole tower at about £1.2 billion. - The Times

The news that Jones Bootmaker is on the brink of falling into administrationis a reminder of just how tough life is on the high street. The 160-year-old shoe retailer may yet be rescued, but about 1,000 workers are unsure about their future employment. Profits for bricks-and-mortar shops are being squeezed by the rise of online shopping, an increase in staff costs brought on by the introduction of the national living wage, and fierce discounting of the price of their products, which is designed to attract shoppers but hurts profit margins. On top of this is business rates - a tax that takes no account of falling profit and is now more costly than corporation tax for many shops. - Guardian

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