(MENAFN- ProactiveInvestors) The Times
I have no regrets says Lehman boss: The former boss of Lehman Brothers broke cover for his first voluntary public outing since the 2008 global financial crisis by telling a financial conference in New York that he had “no regrets” about what happened.
Brands fear for their reputations over FIFA fraud scandal: Tens of millions of dollars worth of sponsorship were hanging in the balance as some of FIFA’s biggest financial backers started to distance themselves from the organisation following the arrest of several of its senior Executives.
Sterling slips as rate rise prospects recede: The pound fell and expectations of a base rate rise receded into next year after a widely expected upward revision to Britain’s sluggish first quarter economic growth figure failed to materialise.
RBS may be told to give spin-off bank extra help: may have to give a financial boost to the challenger bank being spun out of it to make it a strong competitor in the politically sensitive small business banking market.
Retailers’ anger grows as PayPoint shares surge: PayPoint has defended its treatment of small retailers after recording growing sales and turnover soon after reducing the commission that it pays to shop Owners.
Discovery boosts Falklands oil prospects: Exploration companies drilling for oil off the Falkland Islands have made another discovery a development that they claim enhances the chances of the islands becoming an oil-producing region.
Prospector strikes gold: An ambition to build Europe’s biggest gold mine in Co Tyrone in Northern Ireland has led to gold prospecting across the border in Inishowen Co Donegal.
Subsidy end for wind farms will be a blow: A renewable energy company backed by Terra Firma the private equity firm run by Guy Hands has played down the threat to wind farms posed by the Conservative government.
Everyone loves a bargain says Chief of thriving retailer B&M: B&M enjoyed a strong maiden year as a public company as it unveiled plans for more store openings to capitalise on shoppers’ growing appetite for discount retailers.
DIY decline hits B&Q as Screwfix fixes it: may be shrinking its B&Q chain amid a decline in DIY but the home improvement retailer shows no sign of slowing the expansion of Screwfix.
BuzzFeed group aims to ‘build out’ with flotation: The online media group whose videos boast more than a billion views a month has set its sights on a stock market flotation according to Jonah Peretti Founder and chief executive of BuzzFeed.
The Independent
Backlash against JPMorgan boss Jamie Dimon after branded his own investors as ‘lazy’: The JPMorgan boss Jamie Dimon has been blasted as “removed from reality” and “insulting” after he branded his own investors “lazy” for voting against his multimillion-dollar pay deal.
Reliance on imports harms UK growth: Hopes that the UK would shake off its early-year doldrums were temporarily dashed as official growth figures showed a widening trade gap and surprising weakness from the nation’s dominant services firms.
Tom Hayes LIBOR trial: Broker ‘was offered US$100000 to fix benchmark interest rate’: A City trader offered a broker a “humongous deal” as an incentive as he tried to manipulate the benchmark LIBOR interest rate a court heard.
Group planning to sue bring in top commercial lawyer Philip Marshall: A highly respected commercial lawyer has been drafted in by a group set up to sue over last year’s accounting scandal in what could turn into a multi-billion pound lawsuit.
CMC Founder £14 million richer as he heads for the market: CMC Markets’ Founder Peter Cruddas has added another £14 million to his fortune after the spread-betting business announced a huge increase in its profits and confirmed plans for a £1 billion flotation.
America is officially the most competitive country in the world: In what may come as no shock to anyone America has topped the rankings on a list of the most competitive countries in the world.
The Daily Telegraph
ECB fears ‘abrupt reversal’ for global assets on Fed tightening: The global asset boom is an accident waiting to happen as the US prepares tighten monetary policy and the Greek crisis escalates the European Central Bank has warned.
Amazon ‘to launch range of own-brand food’: Amazon is to expand its Elements business and start selling own-brand food according to reports.
Trade deficit hammers UK growth in first quarter: Britain’s widening trade deficit dragged down UK growth in the first three months of the year as the economy expanded at its slowest pace in more than two years.
Irish parliament backs sale of Aer Lingus stake to IAG: The Irish parliament has backed the sale of the government’s 25% stake in Aer Lingus to as the -owner declared its €1.4 billion (£1 billion) offer for Ireland’s flag carrier as being final.
Watchdog probes RBS sale of challenger bank Williams & Glyn: may be forced to bolster Williams & Glyn (W&G) the challenger bank it is selling off after George Osborne ordered the competition regulator to investigate how robust the new bank will be.
Finally banks are lending to businesses again: Two and a half years after the Government unveiled a flagship Bank of England loan scheme banks are finally growing their lending to small businesses in a sign that Britain’s shortfall of private investment is turning a corner.
MP criticises Thomas Cook over handling of deaths: Thomas Cook has been criticised in Parliament by the MP that has supported the family of two children that died on one of the tour operator’s holidays and has been called upon to review a bonus for its former boss.
Fleming family’s insurance broker sells itself to American private equity: The insurance broker founded by Ian Fleming’s family business has sold most of itself to an American private equity house becoming the latest participant in the Lloyd’s of London market to consolidate.
goes head-to-head with Pay: has stepped up its rivalry with by announcing its own contactless payment system and revamping the Android Wear smartwatch.
buys British virtual reality start-up Surreal Vision: has bought an eight-month-old British start-up that recreates real-world scenarios in virtual reality.
The Questor Column: Break up to unlock value say experts. Questor Says “Hold”. Hansteen a good property investment. Questor Says “Buy”.
The Guardian
Grexit is a possibility warns head of IMF: The head of the International Monetary Fund has warned that a Greek exit from the Eurozone is a “possibility” as debt talks reach a critical stage.
Services output revised down as UK economic growth unchanged at 0.3%: Official figures have confirmed that Britain’s growth rate slowed to 0.3% in the first three months of the year after an improvement in construction output was offset by a slowdown in the services sector.
Accountancy watchdog to focus on suppliers after profits scandal: The relationship between retailers and their suppliers is to be scrutinised in the wake of the accounting scandal – in which the group overstated last year’s expected first-half profits by about £250 million.
Virgin Trains faces competition on east coast mainline: It is 2019 and the view along the east coast mainline is bitter-sweet for Sir Richard Branson. His Virgin-branded company still owns the rail franchise won at the third time of trying in two decades.
Booming buy-to-let puts £112 billion in pockets of British landlords: British landlords earned £112 billion from capital gains and rental income last year in the latest example of the booming buy-to-let market.
Daily Mail
Local MPs label Gatwick’s submission on air quality to Airport Commission ‘completely unreliable’: A group of local MPs around Gatwick Airport have labelled Gatwick’s submission on air quality to the Airport Commission ‘completely unreliable’.
backs away from deal to buy US production firm behind Marco Polo and BBC’s War and Peace adaptation: has backed away from a deal to buy the US production firm behind Marco Polo and the BBC’s War and Peace adaptation.
shares slip as it reports 82% slump in annual profits after market for its main sweetener product turns sour: Shares in sweetener-maker slipped as it reported an 82% slump in annual profits after the market for its main sweetener product turned sour.
Scandal surrounding money-laundering checks among trading firms deepens as one of City’s largest outfits stung by allegations it ‘dumbed down’ rules to win more customers: The scandal surrounding money laundering checks among trading firms deepened after one of the City’s largest outfits was stung by allegations it ‘dumbed down’ rules to win more customers.
Daily Express
Serco hope in new chairman: Scandal-hit outsourcing group Serco has named former boss Sir Roy Gardner as its new chairman as the company seeks to turn around its fortunes.
Mortgage approval at 10 month high: The number of mortgage approvals jumped to a 10-month high last month amid wider signs of “broad confidence” in the economy banks reported.
raises its game: The sportswear retailer has cheered staff and investors with a profits upgrade as the company held its annual conference for employees and suppliers at the Magpies’ St James’ Park stadium.
The Scottish Herald
North Sea player in legal wrangle: North Sea-focused has become embroiled in a legal dispute connected to the giant Greater Stella Area oil development off eastern Scotland.
Alexander Dennis wins big order: Alexander Dennis has won a £21 million contract from to build 117 buses as the Aberdeen-based company boosts its fleet in Scotland.
makes strong start to year: Glasgow- based has enjoyed a strong start to the year as the company feels the benefit of its move into the electricity market.
Infinis warns of low oil price impact on renewables: A continuing low oil price clouds the prospects for renewable energy group Infinis its chairman Ian Marchant has said.
Drum raises £32 million for investment trust: Drum Property Group based in Aberdeen and Edinburgh floats its own real estate investment trust on the main market.
Business leaders urged to bring events home: Business people in Glasgow have been urged to play a more proactive role in helping to the city to attract conferences and events.
City A.M.
S&P downgrades as shareholders mull Liberty deal: Telecoms group has been downgraded by ratings agency Standard & Poor’s (S&P) which said the company is facing tough business conditions in key markets.
BT to reveal how much fans will pay to watch Champions League: BT sport is close to announcing a payment structure for subscriptions to its upcoming exclusive live coverage of the European Champions League.
Forecourt owner green set for London float: green one of Ireland’s biggest petrol forecourt retailers announced plans to make a £230 million stock market début in what will be the first Irish retail initial public offering (IPO) since the recession.
CMC Markets to float next year after taking rivals’ customers: Spread betting and trading firm CMC Markets is hiring investment bankers to plan a stock market flotation next year chief executive Peter Cruddas announced.
£1 trillion pot: UK landlords’ wealth grows: Landlords earned £112 billion last year from rent and rising house prices according to a study out from Kent Reliance.
sells its half share in Signalling Solutions to Alstom: British infrastructure company has sold its 50% stake in joint venture Signalling Solutions to French partner Alstom for an undisclosed sum.
Chief predicts record City office rents of £100 per sq ft: The meteoric rise in London office rents is unlikely to slow down for at least another year the chief executive of property developer said as companies compete for limited office space.
Lloyds and lead SME loan rise: Bank lending to small businesses picked up at last in the first quarter Bank of England figures showed.
British consumers are upbeat after General Election outcome: UK shoppers were slightly less confident this month but confidence levels remain relatively high according to survey figures published.
Eurozone economic confidence points to faster growth ahead: Confidence in the Eurozone economy was stable this month according to official figures released.
Sberbank keeps head above water despite Russia’s woes: Russia’s largest lender Sberbank kept in the black in the first quarter managing to report a profit despite the country’s economic troubles.