Market Buzz
Monday newspaper round-up: British Steel, Viagogo, tariffs
British Steel is to deploy emergency measures in a race against time to save the blast furnaces at Scunthorpe, as the business secretary refused to guarantee the plant could get what it needed in time. The company is understood to be looking at offers of help from more than a dozen businesses to obtain materials such as iron ore and coking coal, potentially allowing it to avoid the temporary shutdown of one of the two furnaces. – Guardian.
Sunday newspaper round-up: British Steel, BP, BoE
The government has passed a bill that allows it to force companies to keep operations going at loss-making steel businesses in England. That or their executives will face criminal penalties. The bill was approved in what was just the sixth Saturday sitting of parliament since the second world war. The move was made necessary by the apparent breakdown of talks with British Steel's Chinese owners, which threatened to provoke the works' furnaces going out and the loss of thousands of jobs.
Friday newspaper round-up: Prada/Versace, WeightWatchers, sewage plant
The EU will not rip up its tech rules in an attempt to reach a trade deal with Donald Trump, the bloc’s most senior official on digital policy has said. Henna Virkkunen, the European Commission vice-president responsible for tech sovereignty, indicated the EU was not going to compromise on its digital rulebook to reach an agreement on trade with the US – a key demand of Trump administration officials. – Guardian.
Friday newspaper round-up: Prada/Versace, WeightWatchers, sewage plant
The EU will not rip up its tech rules in an attempt to reach a trade deal with Donald Trump, the bloc’s most senior official on digital policy has said. Henna Virkkunen, the European Commission vice-president responsible for tech sovereignty, indicated the EU was not going to compromise on its digital rulebook to reach an agreement on trade with the US – a key demand of Trump administration officials. – Guardian.
Friday newspaper round-up: Prada/Versace, WeightWatchers, sewage plant
The EU will not rip up its tech rules in an attempt to reach a trade deal with Donald Trump, the bloc’s most senior official on digital policy has said. Henna Virkkunen, the European Commission vice-president responsible for tech sovereignty, indicated the EU was not going to compromise on its digital rulebook to reach an agreement on trade with the US – a key demand of Trump administration officials. – Guardian.
Thursday newspaper round-up: Royal Mail, Nato, Netflix tax
Royal Mail has unveiled a solar-powered “postbox of the future” with a built-in barcode reader and a hatch to accept parcels larger than letterbox size. In the “biggest change to postbox design since their introduction more than 175 years ago”, the hi-tech pillar box looks as if it is wearing a jaunty beret. The black, chequered lid is in fact solar panels that power the scanner. The postbox’s extra-large opening hatch offers a new way for the postal service to cash in on a roaring parcel trade.
Thursday newspaper round-up: Royal Mail, Nato, Netflix tax
Royal Mail has unveiled a solar-powered “postbox of the future” with a built-in barcode reader and a hatch to accept parcels larger than letterbox size. In the “biggest change to postbox design since their introduction more than 175 years ago”, the hi-tech pillar box looks as if it is wearing a jaunty beret. The black, chequered lid is in fact solar panels that power the scanner. The postbox’s extra-large opening hatch offers a new way for the postal service to cash in on a roaring parcel trade.
Thursday newspaper round-up: Royal Mail, Nato, Netflix tax
Royal Mail has unveiled a solar-powered “postbox of the future” with a built-in barcode reader and a hatch to accept parcels larger than letterbox size. In the “biggest change to postbox design since their introduction more than 175 years ago”, the hi-tech pillar box looks as if it is wearing a jaunty beret. The black, chequered lid is in fact solar panels that power the scanner. The postbox’s extra-large opening hatch offers a new way for the postal service to cash in on a roaring parcel trade.
Wednesday newspaper round-up: Blue Skies Space, FS Italiane, Liverpool St station
Back in the early months of Covid lockdowns, all the talk in property circles was of would-be housebuyers plotting a move to coastal and rural areas as city dwellers prioritised a bigger garden, access to nature and more room for home working. But, five years on, the reshaping of the housing market sparked by the pandemic has gone into reverse, with homes by the sea seemingly losing some of their lustre and fewer people looking to escape from cities, data shows. The property website Rightmove said that, while much had changed since 2020, one constant was a desire among many would-be buyers for a home with more space.
Tuesday newspaper round-up: Clean power, Apple. productivity
The world used clean power sources to meet more than 40% of its electricity demand last year for the first time since the 1940s, figures show. A report by the energy thinktank Ember said the milestone was powered by a boom in solar power capacity, which has doubled in the last three years. The report found that solar farms had been the world’s fastest-growing source of energy for the last 20 consecutive years. – Guardian.
Monday newspaper round-up: Companies House, supermarkets, UK economy
The UK government agency responsible for overseeing a national register of companies has collected just £1,250 in fines after being given new powers to crack down on corruption, it has emerged. Companies House is implementing a series of reforms, amid embarrassing revelations about fraudsters and jokers signing up to the corporate register with names such as “Darth Vader” and “Santa Claus”. – Guardian.
Friday newspaper round-up: Co-op Group, London pubs, Luton airport
Cross-Channel train services serving new destinations will be cheaper to run under a scheme to grow international rail travel from the UK. London St Pancras Highspeed (LSPH), which owns and operates the railway and stations from the capital to the Channel tunnel, said it would slash charges for operators planning new routes. Eurostar is the sole existing operator between the UK and Europe, with regular direct trains reaching only Paris and Brussels, as engineering work affects the Amsterdam route until May.
Thursday newspaper round-up: Tax increases, Jes Staley, Barclay family
Rachel Reeves has defended the £40bn in tax increases in autumn’s budget as businesses brace for their impact, saying NHS waiting lists would now be higher if she had not taken action. Employers are set for a £25bn increase in national insurance contributions (NICs), which comes into force on 6 April, at the same time as consumers are being hit by a slew of increases in bills for everything from utilities to car tax. – Guardian.
Wednesday newspaper round-up: Motor finance compensation, car manufacturers, Rebel Energy
A court of appeal ruling that has left lenders fearing PPI-level compensation bills over the motor finance commission scandal “goes too far”, the City regulator said on Tuesday. The Financial Conduct Authority (FCA) made the comments in a written submission to the supreme court on Tuesday, as part of a high-profile case being closely watched by the government. The Treasury, which tried but failed to intervene in the case, is concerned the standing decision could spook businesses and threaten investment in the UK.
Tuesday newspaper round-up: Household bills, OpenAI, BBC
Millions of households are bracing themselves for a raft of price increases across a range of bills – from energy and water to car tax and the TV licence – that take effect on Tuesday. With so many costs rising at once – prompting some to label this month “awful April” – the government is facing fresh calls to take action to limit the impact of some of the increases. The Liberal Democrats claimed ministers needed to “get a grip” on energy bills. – Guardian.
JPMorgan starts coverage of Wise at ‘overweight’
JPMorgan Cazenove initiated coverage of Wise on Monday with an ‘overweight’ rating and a 1,242p price target.
Monday newspaper round-up: Scams, Aviva, retailers
Anti-scam campaign groups are calling for police forces to be much tougher on fraudsters, who they claim are scamming millions from victims in “a penalty-free crime”. The pleas are being made just days after the UK government announced it is working on an “expanded” fraud strategy as part of a “robust response” to surging reported fraud rates, which rose by 19% last year according to the Office for National Statistics. – Guardian.
Sunday newspaper round-up: Trump, Airbus, Tesla
Senior UK and EU diplomats advised the Prime Minister on Saturday to fight back against Donald Trump should he pursue harsh tariffs on British exports. British government officials in Washington and London were in the midst of trying to head-off US trade duties on key UK industries. In particular, there is concern regarding the threat to impose reciprocal 25% tariffs on countries that levy VAT on America's exports. - Guardian.
Friday newspaper round-up: Energy bills, net zero, HSBC
British bill payers remain exposed to another energy crisis while facing “worryingly high” energy debts and some of the highest electricity costs in the world, parliament’s spending watchdog has warned. The public accounts committee (PAC) said ministers had not put in place sufficient safeguards to shield households against another energy crisis or taken steps to permanently reduce Britain’s energy prices. – Guardian.
Thursday newspaper round-up: Retailers, Trump tariffs, tax rises
Major investors including Axa and Scottish Widows are backing shareholder resolutions pressing retailers Next, Marks & Spencer and JD Sports to increase pay for thousands of workers. More than 100 individuals and eight institutional investors, which manage over £1tn in assets, are backing an effort to encourage companies to pay a “real living wage”, which is designed to ensure workers can cover necessary household costs. – Guardian.