Thursday newspaper round-up: North Korea, Telit Communications, Johnston Press

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Thursday newspaper round-up: North Korea, Telit Communications, Johnston Press

Thu, 10 August 2017
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Thursday newspaper round-up: North Korea, Telit Communications, Johnston Press

(ShareCast News) - North Korea has defied threats of "fire and fury" from Donald Trump, deriding his warning as a "load of nonsense" and announcing a detailed plan to launch missiles aimed at the waters off the coast of the US Pacific territory of Guam. A statement attributed to General Kim Rak Gyom, the head of the country's strategic forces, declared: "Sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on him". The general outlined a plan to carry out a demonstration launch of four intermediate-range missiles that would fly over Japan and then land in the sea around Guam, "enveloping" the island. - The Guardian
The Trump administration warned North Korea last night to drop its quest for a nuclear missile capable of reaching the US or face "the end of its regime and the destruction of its people". James Mattis, the defence secretary, made the remarks as two American B-1B strategic bombers flew close to the Korean peninsula, joined by Japanese fighter jets. The bombers also carried out exercises with South Korean forces. - The Times

The chief executive of one of Aim's biggest tech companies has taken a leave of absence amid an investigation into allegations about a fraud indictment in the United States. Telit Communications has appointed independent solicitors to review reports connecting Oozi Cats, the Israeli tech company's founder, to a case in the US dating from the early 1990s. The investigation was triggered by media reports, originating in Italy - where Mr Cats is understood to live - suggesting he was indicted by the district court of Massachusetts in 1992. - The Times

Scandinavian newspaper owner has taken a stake in the debt-laden publisher of the i, Johnston Press. Custos, which owns the free Swedish title Metro, revealed in a stock exchange filing it has built a 5.1% holding, ranking it in Johnston Press's top six shareholders. The move is likely to fuel speculation over the fate of Johnston Press, which is fighting for its future under the threat of a default on its £220m debt pile. Its bonds are due for repayment in 2019 and credit ratings agencies say it will not be able to refinance due to tough conditions in the local newspaper market that accounts for most of its income. - The Daily Telegraph

Petrofac has turned to a renowned City litigation lawyer to handle its response to the Serious Fraud Office's bribery investigation. Edward Sparrow, a partner at Ashurst, the law firm, will communicate with the SFO as it conducts its investigation into the oil services company's conduct in the Middle East. - The Times

Altice is weighing up a bid for Charter Communications in a deal that could be worth around $200 bn. The French cable television and telecoms giant, which is led by Patrick Drahi, the Franco-Israeli billionaire, will be pitted against Softbank, the Japanese telecoms company run by Masayoshi Son, in a race to buy the No 2 cable company in the United States. - The Times