Thursday newspaper round-up: Immigration, US concerns, Sky, Facebook

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Thursday newspaper round-up: Immigration, US concerns, Sky, Facebook

Thu, 20 April 2017
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Thursday newspaper round-up: Immigration, US concerns, Sky, Facebook

(ShareCast News) - Theresa May is being forced into a concession over migrant targets as part of the price for calling a snap poll. The prime minister is ready to soften her longstanding opposition to taking foreign students out of immigration totals. - The Times
Global investors are pulling cash out of America and sinking it into eurozone shares, in spite of the uncertainty surrounding the looming French election, according to the latest monthly poll of investor attitudes. The great majority reckon that US equities are overvalued, with allocations of fresh money to Wall Street at their lowest level for nine years, according to a survey of professional investors by Bank of America Merrill Lynch. - The Times

A quarter of all US corporate assets would be vulnerable if there was a sudden increase in interest rates because of a debt binge among businesses in the country, the International Monetary Fund has warned. The ability of companies in America to cover their interest payments is at its weakest level since the 2008 financial crisis. The IMF said that the number of businesses that were at "already-elevated levels" of debt was one of the key risks surrounding President Trump's plans to introduce tax cuts. - The Times

Austerity is over as governments across the rich world increased spending last year and plan to keep their wallets open for the foreseeable future. After five years of belt tightening, the International Monetary Fund says the era of spending cuts that followed the financial crisis is now at an end. - Telegraph

The controversial Fox News host Bill O'Reilly has been dropped from the network after allegations of inappropriate behaviour and sexual harassment, in a development that could have significant implications for the Murdoch empire on both sides of the Atlantic. Ofcom, the British media regulator, is considering whether 21st Century Fox, the parent company of Fox News, is a "fit and proper" owner of pay-TV broadcaster Sky. - Guardian

For many SMEs Brexit is proving a recruitment nightmare. Companies that rely on EU staff are finding far fewer feel welcome in the UK and so are less likely to apply to fill jobs made vacant by those already headed home. - Guardian

The government has agreed a £2.3bn sale of the Green Investment Bank to the Australian bank Macquarie, according to sources close to the process. The privatisation of the bank was expected in January but signoff was delayed in the face of stiff political opposition and wrangling over the final price. - Guardian

A failure by Amazon and eBay to act against overseas sellers flouting VAT rules is helping companies to avoid up to £1.5 billion in tax, a report has found. The government's spending watchdog yesterday accused the American tech giants of failing to remove foreign sellers from their online marketplaces even after trading standards officers identified those not charging VAT on goods sold to British customers. - The Times

Facebook is developing technology to let users communicate using only their thoughts, the internet giant confirmed on Wednesday night. A secretive division at Facebook's California headquarters has been experimenting with mind-reading technology for several months, the company revealed. - Telegraph

The retail giant Amazon is expanding its operations in Australia, announcing plans to build the first of several large warehouses on the east coast to allow for faster local delivery. The company announced the long-anticipated move on Thursday, and according to Business Insider reported is looking for warehouse space in Brisbane, Sydney or Melbourne to become its first 93,000 sq m Australian "fulfilment centre". - Guardian

The UK dominates the European financial technology industry, with figures showing it boasts more billion-dollar fintech companies than the rest of the continent put together. Britain houses four fintech "unicorns" - companies valued at $1bn (£780m) or more - with a combined valuation of $18.5bn, according to a report by the technology investment bank GP Bullhound. - Telegraph

Uber has been granted an appeal against a landmark ruling that declared its drivers qualify for basic employment rights. The ride-hailing app will seek to overturn last year's ruling, which was seen as a major blow for gig economy companies, at the Employment Appeal Tribunal in September. - Telegraph

The sharp falls seen in house prices in London's most expensive postcodes has begun to plateau after two years of turmoil, according to a property data provider. London's prime central housing market, which includes areas such as Chelsea, Knightsbridge and Kensington, has been hugely affected by changes to stamp duty and Brexit uncertainty. - The Times

Communities secretary Sajid Javid has downplayed concerns that foreign investors are buying up swathes of London property as he promised Government reforms to the housing market would continue despite the upcoming General Election. Speaking to a Parliamentary select committee on Wednesday, Mr Javid said the problem "isn't as bad as some people think". - Telegraph

The UK's energy networks are not ready for a surge in electric cars and solar panels that is coming within the next few years, according to a report. Clusters of the battery powered cars could result in 1% of the UK experiencing unplanned drops in voltage - potentially damaging electronic equipment - without action by 2020, the Green Alliance said. - Guardian

NASDAQ 100 Top Risers

Name Last Chg.% Time
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares 55.14 2.87 17:10
Mattel Inc. 15.02 2.14 17:10
Western Digital Corp. 87.79 1.97 17:10
Nvidia Corp. 174.32 1.94 17:10
Apple Inc. 152.61 1.37 17:10

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Dish Network Corp. 52.62 -2.56 17:10
Shire Plc Ads 151.01 -2.34 17:10
Alexion Pharmaceuticals Inc. 140.90 -2.13 17:10
JD.com, Inc. 40.31 -1.51 17:10
Illumina Inc. 198.37 -1.49 17:10