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Tuesday Papers: MPs seize control of Brexit

Tuesday Papers: MPs seize control of Brexit

Top stories

  • The Times: Three government ministers quit last night to give MPs the power to tear up Theresa May’s deal as the parliament seized control of Brexit.
  • The Daily Telegraph: Autonomy founder Mike Lynch has been accused of “revenue pumping” to conceal the fact that the FTSE 100 software company was “stagnating” prior to its $11.1 billion takeover by Hewlett-Packard.
  • Financial Times: Central banks slashed interest rates in a sharp reversal of last year’s trend as inflation across emerging economies tumbled to its lowest level in a decade.
  • Financial Times: Apple rolled out its first product on Monday dedicated to digital services, beginning a renewed push into video, finance, news and gaming.
  • The Daily Telegraph: Mike Ashley's Sports Direct is considering a cash offer to buy the struggling department store chain Debenhams.
  • The Times: JP Morgan Chase has sent new contracts to hundreds of employees in London requiring them to relocate if Britain leaves the European Union without an agreement next month.

Business and economics

  • The Guardian: International Monetary Fund managing director has joined the growing clamour to further tax tech firms Google, Facebook and Amazon.
  • Financial Times: China Investment Corporation has teamed up with France’s biggest bank BNP Paribas and private equity group Eurazeo to create a €1 billion fund to back European companies that want to expand into China.
  • The Guardian: William Hill seeks cut in its rents by 50% to help it offset the cost of revenue lost due to imminent curbs on fixed-odds betting terminals.
  • The Daily Telegraph: Pennon has taken a £16 million hit on its full year profits following Interserve’s collapse earlier this month.
  • Financial Times: Louis Dreyfus Company has reported a 13% surge in annual profits as its oilseeds business was boosted by US-China trade war.
  • The Daily Telegraph: Train company Govia is poised to net hundreds of millions of pounds if Transport Secretary Chris Grayling delays a key decision on the hugely profitable Southeastern franchise.
  • The Times: Global co-working giant Wework doubled its revenue last year as it began to attract larger companies for longer periods, but losses continued to widen for the New York start-up.
  • The Guardian: Majestic Wine is to close a number of stores and adopt the Naked Wines name as part of plans to focus on its online and international business.
  • The Daily Telegraph: Nissan was prepared to pay former chairman Carlos Ghosn a $40 million retirement package in a settlement that raises questions about his arrest for alleged financial crimes.
  • Daily Mail: The eurozone faces disaster in the next economic downturn because many countries have failed to prepare, according to David Lipton, deputy managing director of the International Monetary Fund.
  • The Daily Telegraph: Aviva Investors, which manages over £348 billion in assets, has sent a stinging rebuke to FTSE 100 firms calling for a "fundamental rethink" of how bosses are paid amid rising concerns about inequality.
  • The Times: The Co-operative Group has avoided a fine from the grocery regulator despite being found guilty of “widespread” failings in how it treated its suppliers.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD Provident Financial; HOLD Aggreko.
  • Daily Mail: Inmarsat bosses have backed a £2.6 billion takeover by the Triton consortium that will see it fall into foreign hands.
  • The Daily Telegraph: Airbus has secured one of the biggest aircraft orders with a Chinese leasing company signing a 300-plane deal.
  • The Daily Telegraph: Provident Financial boss has accused takeover predator Non-Standard Finance of playing a game of "superficial soundbites and playground taunts" as he strives to fight off its £1.3 billion bid.
  • The Times: Valueact, Rolls-Royce’s largest shareholder, has cashed in more than £200 million of shares, booking a profit of nearly 70% on the holding.
  • The Times: Rockrose Energy is seeking to gain control of Independent Oil & Gas by buying up its debts, after an initial approach to buy its shares was rebuffed earlier this month.
  • Financial Times: Naspers, Africa’s largest media group, will rehouse its holding in the Chinese internet company Tencent and other international investments in a separate European listing.
  • The Daily Telegraph (Comment): How Britain can still prosper in land of the neverending Brexit.
  • The Daily Telegraph (Comment): Martin Sorrell returns with 'faster, better, cheaper' ad company. But can he compete with the giants?

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Profile: Altor's Towry graduates on launching a family business

Profile: Altor's Towry graduates on launching a family business

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