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Thursday Papers: May blames parliament for Brexit delay

Thursday Papers: May blames parliament for Brexit delay

Top stories

  • The Times: Theresa May last night tried to deflect blame for the Brexit crisis on to parliament saying public “have had enough”, before an EU summit today where leaders will decide whether to allow a Brexit delay.
  • Financial Times: The EU has imposed €1.5 billion fine on Google after a competition probe ruled that the dominant search group had spent 10 years blocking rival online advertisers.
  • The Daily Telegraph: The turmoil in Westminster surrounding Brexit has hit Government’s attempt to reboot the UK car industry after a blizzard of bad news.
  • Financial Times: BMW has warned that 2019 profits will be “well below” last year’s levels and announced a €12 billion cost-saving plan.

Business and economics

  • The Guardian: Music streaming services generated revenues of £468 million in the UK last year, 54% of the £865.5 million total income for the recorded music industry.
  • The Daily Telegraph: Good Energy has sold more green energy to a growing number of companies with green sustainability targets, defying the gloom of the UK’s energy market.
  • The Times: A Kurdistan-focused oil and gas group, Genel Energy, has promised a maiden dividend next year, despite posting a pre-tax loss of $283 million for 2018 after writing down the value of a gasfield.
  • The Times: Kier Group has reported a pre-tax loss of £35.5 million for the first half of its financial year to 31 December after bins and hospital deals turned sour.
  • Financial Times: Deutsche Bank slid down in European bank rankings to fourth place, losing further ground to US rivals on its home turf.
  • Financial Times: UBS’ investment banking business has had one of its worst starts to the year in recent history, chief executive Sergio Ermotti has said.
  • The Guardian: Italy is poised to endorse its participation in Beijing’s $1 trillion Belt and Road Initiative, despite rattling its EU and US allies with its plan.
  • Daily Mail: The US Federal Reserve has been accused of 'kowtowing' to Donald Trump after it scaled back plans for interest rate increases.
  • The Times: Punitive American tariffs on Chinese goods could remain in place for a “substantial period of time”, President Trump warned yesterday.
  • Daily Mail: The boss of B&Q owner Kingfisher, Veronique Laury, has agreed to step down after four years as chief executive and 16 at the business, which also owns Screwfix.
  • The Daily Telegraph: The Superdry co-founder Julian Dunkerton has expressed his disappointment after a major advisory firm declined to back his call to return to the board.
  • The Times: Standard Chartered has been warned that it faces scrutiny over pension arrangements for Bill Winters that will hand the bank’s chief executive £474,000 this year.
  • The Daily Telegraph: Lloyds Banking Group boss has been attacked for making an "insulting" sacrifice by agreeing to cap his pension payout while still pocketing another retirement contribution worth "several Ferraris".
  • The Guardian: The diamond tycoon Nirav Modi has been remanded in custody in London, more than a year after Indian authorities alleged he was involved in a £1.3 billion bank fraud.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): BUY Lancashire Holdings; HOLD Staffline.
  • The Times (Tempus share tips): WAIT as Inmarsat’s future is up in the air; HOLD Renewables Infrastructure Group for long term.
  • The Guardian: Disney has closed its $71 billion acquisition of Rupert Murdoch’s entertainment business as it plans to launch its new streaming service Disney Plus later this year.
  • The Guardian: Speculation about a counterbid for satellite operator Inmarsat is mounting after a consortium of investors swooped in with a £2.5 billion offer.
  • The Times: Aeris Resources, a small Australian copper group, is in talks to buy a mine from Glencore for $575 million, as the commodities giant seeks to raise $1 billion through asset sales.
  • The Daily Telegraph (Comment): German alarm grows over the EU's dangerous ultimatum terms for Britain.

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

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