Monday newspaper round-up: Taiwan, Global airlines, Manufacturing

Beijing is prepared to take “resolute action” to press its claims over Taiwan, China’s defence minister has warned as he argued that suppressing the Tiananmen revolt in 1989 was justified. Speaking at a security conference in Singapore yesterday General Wei Fenghe criticised US support for Taiwan, vowing that the People’s Liberation Army (PLA) would not "yield a single inch of the country’s sacred land". China considers Taiwan to be a breakaway province since a bloody civil war in the 1940s and seeks to unify with the island. “Should anybody risk crossing the line, the PLA will resolutely take action and defeat all enemies,” General Wei said. “Any underestimation of the Chinese military’s determination is extremely dangerous.”- The Times

The global airline industry is expected to record its lowest profits in five years as fuel costs rise and world trade weakens. The International Air Transport Association, the 290 members of which account for 82% of scheduled air traffic, cut its forecast for earnings across the industry this year by more than a fifth on Sunday. Profits in 2019 are now expected to reach $28bn (£22.2bn), Iata said, having forecast $35.5bn in December. - The Guardian

The manufacturing sector has been “paralysed” by the uncertainty surrounding the date of Britain’s departure from the European Union with investment collapsing and export customers switching away from the UK. Research by trade body Make UK also revealed that the artificial boost provided by companies stockpiling ahead of the anticipated departure from the EU on March 29 is now unwinding, revealing the full impact of Brexit on the sector. - The Daily Telegraph

UK investment manager is poised to unveil Europe’s biggest clean energy fund after raising €850m (£753m) to pour into renewable energy projects. London-based Glennmont Partners is expected to confirm this week that it has exceeded its bid to raise €600m for new clean energy projects across Europe and the UK. - The Times

Seven in ten small businesses fail to secure external finance at the first attempt, a study has revealed, with weak management teams often to blame. Two in five companies said that they had been turned down for funding more than three times and one in ten had made five or more unsuccessful attempts, according to a report from Smith & Williamson, the accountants. Almost half of the respondents to its poll of 1,001 small and medium-sized companies said that weakness in their senior management team was the reason given for the refusal. - The Times