Tuesday newspaper round-up: Brexit Secretary, banks, Monarch, G4S

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Tuesday newspaper round-up: Brexit Secretary, banks, Monarch, G4S

Tue, 03 October 2017
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Tuesday newspaper round-up: Brexit Secretary, banks, Monarch, G4S

(ShareCast News) - David Davis plans to retire in 2019 and leave Boris Johnson to steer the UK through the transitional period. The Brexit secretary told friends that Michel Barnier, the EU's chief negotiator, "needs this to work more than I do" because he plans to step aside in June 2019 whereas Mr Barnier will still be in post. - Telegraph
Britain's banks need to set aside another £116bn in debt that can be "bailed in" should they get into financial trouble in order to avoid a repeat of the costly bail-outs that occurred during the credit crunch in 2008. The Bank of England today unveiled detailed plans of how it would step in and stabilise failed banks to protect consumer deposits and avoid systemic risks to the financial system. - Telegraph

The government has denied that Monarch Airlines customers should have been warned of the carrier's financial troubles in the runup to its collapse, as an operation began to repatriate 110,000 passengers. Asked whether travellers should have been notified about over the problems - flights were still on sale at the weekend - a Department for Transport spokesperson said: "This was a decision made by the company and it is the job of directors and their advisers to decide when a business is no longer a going concern ... It is the not the role of government to decide on the viability of a business." - Guardian

Truphone, a British telecoms start-up backed by Roman Abramovich, has raised £255m from a group of investors including the Chelsea owner. The company sells mobile plans that do not incur roaming fees when travelling abroad, and are aimed at corporate customers such as major banks. - Telegraph

A 15-hour riot at a prison cost the taxpayer and jail operator G4S more than £6m, the sentencing hearing of five "instigators" has been told. Luke Mansell, 24, and John Burton, 39, were last week found guilty of a mutiny at HMP Birmingham on 16 December last year during which more than 500 prisoners were let out of their cells after inmates seized keys. - Guardian

Google has dropped its "first click free" policy, which many publishers claimed made it difficult for them to attract paying subscribers. Under the policy, news websites had to offer readers free access to three free articles a day in order to appear high in the search engine's listings. - The Times

Credit report company Equifax said overnight that an additional 2.5 million Americans may have been affected by the massive security breach of its systems, bringing the total to 145.5 million people who had their personal information accessed or stolen. Equifax said the company it hired to investigate the breach, Mandiant, has concluded its investigation and plans to release the results "promptly." - Telegraph

Production of Tesla's first mass-market electric car is off to a much slower start than expected, with barely a fifth of the vehicles that had been predicted rolling off the production line. Only 260 Model 3s were built in the three months to September, the first quarter in which they were produced. The figure was well short of the 1,500 that Tesla had promised in August. - The Times

A flu vaccine that would be the first in the world to tackle all types of the virus and would not need to be given every winter is to be tested on NHS patients. Pensioners in England are being recruited for a trial that researchers hope will protect far more over-65s. Last year's flu vaccine did not work for that age group. - The Times

Major high street retailers have joined forces to encourage people to recycle their used household batteries as a new poll revealed that more than half of respondents admitted they throw them in the bin. Asda, B&Q, Currys PC World, Marks & Spencer and Morrisons are all backing the drive to make it easier for consumers to recycle dead batteries and avoid millions ending up in landfill every year and wreaking environmental havoc. - Guardian

NASDAQ 100 Top Risers

Name Last Chg.% Time
Baidu Inc. 272.82 3.86 22:58
Wynn Resorts Ltd. 146.81 3.15 22:50
Micron Technology Inc. 41.49 2.70 23:09
JD.com, Inc. 39.67 2.45 23:05
Applied Materials Inc. 55.04 2.04 23:03

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Mercadolibre Inc. 233.00 -4.86 23:02
Ulta Salon, Cosmetics & Fragrance Inc. 193.70 -2.46 22:58
Intuitive Surgical Inc. 353.55 -2.41 22:58
Liberty Global Plc Lilac Class A 22.77 -2.40 22:28
J.B. Hunt Transport Services Inc. 101.64 -2.28 22:28