Market Buzz
Friday newspaper round-up: HMV, pension funds, Catherine Mann
UK ministers are preparing to take Roman Abramovich to court in a final attempt to free up more than £2bn from the sale of Chelsea FC to spend as aid in Ukraine, the Guardian has learned. Officials say ministers have become increasingly frustrated by the failure to reach an agreement with the Russian oligarch about how the money should be spent and are now ready to fight him in the courts. – Guardian.
Thursday newspaper round-up: Ofwat, Jes Staley, The Very Group
An environmental group is to take legal action against Ofwat, the water regulator, accusing it of unlawfully making customers pay for decades of neglect by the water industry. River Action will file the legal claim this month, arguing that bill rises for customers that have been approved by the regulator could be used to fix infrastructure failures that should have been addressed years ago. – Guardian.
Wednesday newspaper round-up: Trade unions, Apple, Smith & Nephew
Some companies are “stuck in neutral” in their approach to artificial intelligence, according to Microsoft’s UK boss, who said a significant number of private and public sector organisations lack any formal AI strategy. A Microsoft survey of nearly 1,500 UK senior leaders across public and private sectors, as well as 1,440 employees, found that more than half of executives feel their organisation has no official AI plan. Roughly the same proportion report a growing gap in productivity – a measure of economic efficiency – between employees who use AI and those who do not.
Tuesday newspaper round-up: Tariffs, Elon Musk, public sector wage
China and Canada unveiled retaliatory measures against the US after Donald Trump imposed his sweeping tariffs plan at midnight US time, despite warnings it could spark an escalating trade war. US tariffs have come into force of 25% against goods from Canada and Mexico, the US’s two biggest trading partners, and 20% tariffs against China – doubling the levy on China from last month. – Guardian.
Monday newspaper round-up: leasehold system, net zero, Asda
The government must close loopholes that enable firms exploiting workers to undercut British businesses or risk the UK becoming a “dumping ground” for goods made in poor conditions, MPs have said. In a report published on Monday, the business and trade select committee calls on the government to make it mandatory for companies to say how they will tackle modern slavery in their supply chain and to introduce bigger penalties for firms that do not comply, including “naming and shaming” businesses.
Sunday newspaper round-up: Ukraine, Bank of England, China
Sir Keir Starmer called on European leaders to rise to what he termed a "once-in-a-generation moment". Speaking at the start of a defence summit in London, the Prime Minister said that obtaining a good outcome for Ukraine "is vital to the security of every nation here and many others too. " Separately, Lord Mandelson, the UK ambassador to Washington, told President Zelensky that President Trump was "the only show in town". He added that Ukraine should take the first step and commit to a ceasefire and "defy the Russians to follow".