Sunday newspaper round-up: Climate Change, The Telegraph, Stamp duty
Humanity has failed at the goal of keeping the degree of global warming below 1.5C. According to the head of the Intergovernmental Panel on Climate Change, Jim Skea, the planet was on course to warm by 3C by 2100. But surface temperatures would rise by more than those of the sea. Furthermore, western Europe and the UK were at threat from even greater warming, possibly as much as 5C by the turn of the century. - The Sunday Telegraph
CAC 40
7,274.48
17:00 20/12/24
DJ EURO STOXX 50
4,862.28
00:00 21/12/24
Food & Drug Retailers
4,446.57
17:14 20/12/24
FTSE 250
20,450.69
17:14 20/12/24
FTSE 350
4,463.29
17:14 20/12/24
FTSE All-Share
4,421.11
17:04 20/12/24
LVMH
€628.10
16:40 20/12/24
Ocado Group
305.00p
16:40 20/12/24
The New York Sun's owner is close to clinching a more than £550m deal for The Telegraph. Over the next few days, Dovid Efune will start exclusive negotiations with RedBird IMI to take over the newspaper. Insiders say that talks are already at an advanced stage. - The Sunday Telegraph
The Investment Association is asking the Chancellor to do away with stamp duty on share as a means of boosting the stock market. At present, investors must shell out an 0.5% tax when buying shares of UK-listed companies, but not when buying those of foreign ones. IA pointed out that it was one of the highest such taxes anywhere. Other critics have been arguing for some time that the tax keeps investors away from the London market. The association further argued that it would incentivise pension funds to increase their allocations to UK-listed stocks. - The Financial Mail on Sunday
Forty businesses, including Ocado, penned an open letter to the mayor of London asking him not to expand the congestion charge to include electric vans. Starting from Christmas 2025, electric van drivers in central London will be forced to pay £15 a day, the same as petrol and diesel vehicles. Such a measure would hinder uptake of electric vans, whose carbon emissions have jumped by 63% since 1990 alongside growth in home deliveries. Car emissions on the other hand had decreased. - Guardian
Mulberry founder Roger Saul has come out against the proposed £83m takeover bid for the fashion outfit presented by retail billionaire Mike Ashley the week before. In his opinion, a European luxury firm, such as LVMH, would be a better fit. To build a brand such as Mulberry from scratch would cost LVMH hundreds of millions of pounds, Saul added. - The Financial Mail on Sunday