Wednesday newspaper round-up: Uber, Gemfields, Barclays boss, GVC

Uber co-founder Travis Kalanick resigned from his position as chief executive of the $68bn ride-hailing app on Tuesday, following a tumultuous six months of scandal. Kalanick stepped down in the face of pressure from five of Uber’s largest investors, according to the New York Times, which first reported Kalanick’s exit. – Guardian

High prices and hefty stamp duty bills have resulted in a near one-third drop in house moves in some parts of the country over the past year, according to research by Lloyds Bank. The number of home sales in England and Wales fell by 7% in 2016 to 848,857, but dropped most heavily in London, by 18%, and 10% in the south-east. Brent in north London and Berkhamsted in Hertfordshire saw falls of 30% in the number of transactions. – Guardian

Pallinghurst Resources has lowered the acceptance condition of its takeover offer for ruby and emerald miner Gemfields, after Chinese conglomerate Fosun earlier in the day confirmed a bidding war. Pallinghurst lowered the acceptance condition to 60pc from 75pc, meaning the offer would now be unconditional. On Monday, it said it had acceptances for its bid from Gemfields shareholders holding a 61.25pc stake. – Telegraph

The former boss of Barclays faces a maximum 22 year prison sentence after he and three other ex-directors of the lender became the first British bankers to face criminal charges for actions taken during the financial crisis. Barclays was plunged into turmoil on Tuesday after the Serious Fraud Office charged the bank with fraud and unlawful financial assistance over its dealings with Qatari investors, including former prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani, in 2008 when Britain’s banking system was on the verge of collapse. – Telegraph

Britain has become a cheaper place for multinationals to place expatriate staff because of the fall in the pound, an international survey has suggested. The most expensive city in the world to base employees was Luanda, capital of Angola, because of the cost of goods and security, according to the annual cost of living survey by Mercer, the consultancy. London fell 13 places to No 30 in the table, thanks to the drop in sterling against the dollar. – The Times

GVC Holdings has appointed an independent non-executive director to review boardroom pay after investors speaking for 43 per cent of its shares voted against its remuneration report. The online gambling company, which last year acquired Bwin.party, said that Jane Anscombe would chair the remuneration committee and would be supported in the review by Will Whitehorn, senior independent director. – The Times