Market Buzz
Thursday newspaper round-up: EY, Jes Staley, Beazley
Four bankers have appeared in a Swiss court charged with helping to hide tens of millions of francs on behalf of Vladimir Putin. The men, who had senior roles at the Swiss branch of Russia’s Gazprombank, are accused of helping Sergei Roldugin – a close friend of the Russian president who has been described as “Putin’s wallet” – to move millions through Swiss bank accounts without the proper due diligence checks. – Guardian.
Wednesday newspaper round-up: Rail strikes, air fares, John Lewis
The RMT union has called off a strike at Network Rail next week, fuelling hopes of a significant breakthrough in the long-running dispute. The union said it was suspending the strike planned for Thursday 16 March and all other industrial action, which was to include an overtime ban, after it received a fresh offer from Network Rail. – Guardian.
Tuesday newspaper round-up: EU suppliers, National Grid, discounters
A publicly owned electricity generation firm could save Britons nearly £21bn a year, according to new analysis that bolsters Labour’s case to launch a national energy company if the party gains power. Thinktank Common Wealth has calculated that the cost of generating electricity to power homes and businesses could be reduced by £20. 8bn or £252 per household a year under state ownership, according to a report seen by the Guardian. – Guardian.
Monday newspaper round-up: Train fares, Morrisons, Arrival
Campaigners are calling for an end to the “peak fare rip off”, where commuters in some parts of the country face far higher mark-ups to travel at busy times. The call came after regulated rail fares in England and Wales jumped by 5. 9% on Sunday – the biggest hike in a decade – adding hundreds of pounds to the cost of many annual season tickets despite record levels of poor service. – Guardian .
Sunday newspaper round-up: Arm, China, M&G
News that Arm has chosen to float on the other side of the Atlantic is stunningly bad news for Britain. The rationale is straightforward, the business can fetch a higher valuation there. So too is the reason for that, even if some might argue otherwise. UK pension funds and insurance companies do not invest in British companies with their holdings currently standing at 1. 8% and 2. 5%, respectively. In fact, at 56. 3%, its foreigners who own the lion's share. Back in 1997, insurance companies owned 23.
Friday newspaper round-up: National Express, Southend airport, pensions
More than 3,000 National Express bus drivers in the West Midlands have voted to strike over pay, starting on 16 March, the same day as the next RMT train strike. The Unite union said members voted 96% in favour of industrial action, on a turnout of 72%. The workers will begin “all-out continuous” strike action on Thursday 16 March, the union said, with industrial action to carry on until the dispute is resolved. – Guardian.
Thursday newspaper round-up: Satellite launches, Arm, LVMH
Britain’s failed attempt to send satellites into orbit was a “disaster” and MPs are being urged to redirect funding to hospitals, with the country now seen as “toxic” for future launches. Senior figures at the Welsh company Space Forge, which lost a satellite when Virgin Orbit’s Start Me Up mission failed to reach orbit, said a “seismic change” was needed for the UK to be appealing for space missions. – Guardian.
Wednesday newspaper round-up: Energy prices, tube workers, Arrival
Ministers have warned energy firms that they must pass on the benefits of lower wholesale prices to consumers, amid concern that bills could rise this spring. In a speech on Wednesday, Grant Shapps will tell energy suppliers that reduced wholesale prices must be seen in consumer prices, “no ifs, buts or maybes”. In an apparent sign of government concern about the impact of reduced direct support for domestic energy bills, the energy secretary will spell out his message in a speech at the Chatham House thinktank in London.