- Financial Times: Theresa May is under huge pressure to resign or face a putsch by backbench Tory MPs, as the cabinet turned on the prime minister and support evaporated for her latest Brexit proposals.
- The Daily Telegraph: Expressions of interest in British Steel have already come forward, just hours after the beleaguered business was placed into compulsory liquidation.
- The Times: Philip Green’s retail empire will shut all Topshop stores in the US as part of a proposed rescue package.
- Financial Times: UK chip designer Arm said it would stop licensing its essential technology to Huawei, derailing the Chinese technology giant’s plans to ramp up production of its own silicon chips.
- Financial Times: In a further blow to the reputation of Deutsche Bank, it has been revealed that a software glitch at the lender has for almost a decade prevented some potentially suspicious transactions from being flagged to law enforcement authorities.
- Financial Times: Natura Cosméticos, the Brazilian company that owns The Body Shop, has agreed to buy Avon Products in an all-stock deal.
Business and economics
- The Guardian: Turmoil in Downing Street spilled over into the world’s currency markets, with the pound suffering its longest losing streak against the euro since the creation of the single currency.
- The Guardian: Huawei phones have been dropped by the mobile operators EE and Vodafone from their 5G launch plans, as the backlash in the UK against the Chinese company gathers pace.
- The Daily Telegraph: More than one million surveillance cameras in the UK were built by Chinese company Hikvision that the US is considering blacklisting over security fears.
- The Times: Royal Mail has warned shareholders to expect lower dividends in future as it ploughs £1.8 billion into a turnaround effort.
- The Times: Marks & Spencer is on the brink of tumbling out of the FTSE 100 for the first time in its history after another sharp fall in its share price amid the news of a near-10% decline in annual profits.
- Financial Times: BHP Group has laid out the case for developing contentious Canadian potash project that will cost around $8 billion to build.
- The Times: Terry Smith, one of Britain’s most popular stockpickers, would no longer be portfolio manager of his emerging markets investment trust after more than four years of underperformance.
- The Daily Telegraph: Metro Bank's under-fire founder Vernon Hill has survived a shareholder revolt following calls for him to step down.
- The Daily Telegraph: Amazon's shareholders have rejected a proposal to ban sales of its controversial Rekognition face-matching software to police forces.
- The Daily Telegraph: A US judge has ruled that the chipmaker Qualcomm illegally suppressed competition for smartphone components by threatening to cut off its customers to extract "unreasonable" fees.
- Financial Times: China’s biggest airlines have demanded compensation from Boeing for grounding their 737 Max fleets.
Share tips, comment and bids
- The Daily Telegraph (Questor share tips): HOLD Staffline; HOLD RWS.
- The Times (Tempus share tips): BUY IG Group; BUY C&C Group.
- Daily Mail: Barrick, the parent firm of Acacia Mining, has proposed taking it off the stock market, offering to buy the 35% of shares it does not already own, at a heavily discounted price.
- Daily Mail: Pret a Manger has acquired rival food and drink chain EAT to help accelerate the growth of its vegetarian brand.
- The Daily Telegraph: The loss-making rail ticketing app Trainline, owned by US private equity giant KKR, hopes a planned £1.5 billion stock market float will allow it to pay down debt and turn a profit.
- The Times: Britain’s third biggest energy supplier SSE is pressing on with floatation plan despite reporting a fall in profits and a continued customer exodus.
- The Times: Canopy Growth, the world’s largest cannabis producer, has agreed to pay £43 million for This Works, the British skincare brand.