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Monday Papers: May on Brexit collision course with MPs

Monday Papers: May on Brexit collision course with MPs

Top stories

  • Financial Times: Theresa May is on a collision course with MPs after she refused to compromise to secure a Brexit deal on the eve of a deadline set by the parliament.
  • The Daily Telegraph: Retail tycoon Mike Ashley is weighing up a rescue of Britain's 97-year-old music chain HMV hoping to further his grip on the UK's battered high street.
  • The Times: Several senior fund managers have warned that Brexit could lead to more activist investors circling the UK for opportunities to snap up companies on the cheap.
  • Financial Times: CGN, China’s largest state-backed nuclear company, is in discussion with Rolls-Royce about supplying equipment for the power plant it hopes to build in Essex.
  • Financial Times: Huawei chief executive Ren Zhengfei has publicly warned of job losses as several more governments bar the embattled Chinese technology group from supplying equipment for 5G networks.
  • Daily Mail: The International Monetary Fund has warned that voters are losing trust in globalisation and could tear down the international order which supports world trade.

Business and economics

  • The Guardian: The troubled cafe chain Patisserie Valerie could collapse on Monday if last-ditch talks with its banks fail.
  • The Daily Telegraph: Sales at House of Fraser crashed in the run-up to Christmas, dealing an early blow to Mike Ashley’s hopes to turn the struggling department store into the “Harrods of the high street”.
  • The Guardian: House prices in some of Britain’s wealthiest areas have had up to 25% wiped off their value in 12 months as Brexit turmoil continues, according to the estate agent Your Move.
  • The Daily Telegraph: Sony is planning to merge its UK-headquartered European business into its Dutch arm.
  • The Guardian: A host of major carmakers are moving regulatory approval for their vehicles from the UK to other parts of Europe as they ramp up their preparations for a no-deal Brexit.
  • The Times: Sherborne Investors, the activist firm with a 5.5% in Barclays, is earning tens of thousands of pounds a week in fees from British fund managers backing its attempt to shake up the high street bank.
  • The Daily Telegraph: A Connecticut-based bank has filed a proposed class action claiming that 18 banks and New York Stock Exchange owner ICE have manipulated the scandal-hit benchmark Libor since its overhaul almost five years ago.
  • The Times: France is planning to impose a levy of up to 5% on the sales of Google and other multinational technology companies this year.
  • Financial Times: Warren Buffett’s Berkshire Hathaway has entered into a deal to allow extraction of lithium from its geothermal wells in California.

Share tips, comment and bids

  • The Daily Telegraph: National Grid, the British utility firm, is powering new tech start-ups in the US through a $250 million venture capital fund based in Silicon Valley.
  • Financial Times: ITV hopes to raise at least £150 million from the sale of its headquarters on London’s South Bank after putting the site on the market through Knight Frank.
  • The Daily Telegraph (Comment): Investors may end up in right place for wrong reason.
  • The Times (Comment): Companies are sitting on cash when the economy needs them to spend it.

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