In the papers: Marathon OilChapel Down Tata Steel

Date

4/5/2016 7:03:42 AM

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(MENAFN- ProactiveInvestors - UK) Proactive Investors Mon

The Times
Dismal start to the year for City banks: City banks have suffered their worst start to a year since the immediate aftermath of the financial crisis as investors and companies worldwide shun markets and as the cost of regulation bites deeper into industry margins.
Marathon Oil sprints for exit at giant Brae Field: An American oil major is accelerating plans to shut down one of Britain's most important North Sea oilfields. Marathon Oil has submitted plans to shut down its giant Brae Field 168 miles northeast of Aberdeen after suffering a series of gas leaks on ageing production platforms.
London Stock Exchange bidding hots up with ICE: The battle to take over the London Stock Exchange intensified when the Owner of the New York Stock Exchange secured funding from American and Asian banks as it prepares its own 10 billion bid.
South Africa refuses to rush its beer decision: Drinking-up time for SABMiller could be extended again after South Africa's competition commission extended its investigation into Anheuser-Busch InBev's 71 billion takeover of the Peroni and Grolsch brewer.
Tesla goes from zero to 250000 in record time: Pre-orders for Tesla's new 'affordable' electric car have broken through the 250000 mark smashing analysts' estimates.
Brexit vote leaves builders reaching for their hard hats: Housebuilding has failed to recover from a three-year low because of uncertainty about the European Union referendum.
Exchange operator bats its eyelids at markets once again: It could be second time lucky for Bats Global Markets. The Kansas-based stock exchange operator said yesterday that it was pushing ahead with a float that could raise as much as $213 million.
The Independent
Chapel Down winemakers crowdfunds 1 million for new beer and cider brewery: Chapel Down a British leading wine producer based in Kent has raised 1.7 million from new shares and a crowdfunding campaign to build a new beer and cider brewery.
EU referendum: Lloyd's insurers say Brexit would 'hurt' or 'severely damage' business: More than two thirds of insurers brokers and service providers in London's 60 billion international insurance market say leaving the European Union would be 'bad for business.'
Telecom shares slump as Bouygues-Orange deal collapses: European telecoms stocks have collapsed after a deal to create France's biggest telecoms group has failed.
Saudi Arabia pushes austerity to mitigate latest oil woes: Saudi Arabia has outlined plans to ramp up its austerity programme and avert the threat of national bankruptcy amid a sliding oil price and growing tensions with its regional oil-exporting rival Iran.
The Daily Telegraph
Warning steel industry faces death sentence unless government steps in: The Government must step in to maintain production at Tata's loss-making U.K. plants or risk customers abandoning them signing a death warrant for the British steel industry unions have warned as the crisis engulfing the sector intensifies.
China jitters could trigger global market bloodbath IMF warns: Jitters over the health of the Chinese economy could trigger a bloodbath on financial markets if a hard landing materialises the International Monetary Fund has warned.
Lakehouse Bosses rally to block Founder's attempted boardroom re-entry: Lakehouse the council housing contractor has launched a fresh appeal for shareholders to reject attempts by its Founder Steve Rawlings to sack senior Executives and return to the boardroom.
Reckitt Benckiser doubles its Chief's pay to 23 million: The Boss of Dettol maker Reckitt Benckiser has cleaned up this year doubling his pay packet to 23 million after the share portion of his award ballooned in value.
Sajid Javid meeting Tata Steel Executives as unions gather in London: Sajid Javid is meeting with senior Executives from Tata Steel for the first time since the Indian-owned company decided to pull the plug on its investment at Port Talbot.
Vote for Brexit would lead to 'implosion' of the continental bloc warns LSE Chief: Britain's exit from the European Union would lead to the 'implosion' of the continental bloc and force the United States to intervene to put 'Humpty Dumpty back together again' the Boss of the London Stock Exchange has claimed.
The Questor Column:
Mondi hit by Russian monopoly watchdog investigation: Shares in the paper and packaging group Mondi dropped more than 2% lower yesterday after the Russian competition watchdog announced it had launched an investigation into the pricing of paper made by Mondi Syktyvkar a subsidiary in the country. The FTSE 100-listed paper group responded by saying it is yet to receive any official notice from Russia's Federal Anti-monopoly Service. Mondi added that it is committed to complying with all applicable laws and believes 'it has not violated any such laws'. Russia contributes around 10% of the total revenues for the group according to the most recent annual results. The company remains well placed for the longer term as revenues are underpinned by steady sales of packaging products to consumer giants such as Procter & Gamble Nestle and Unilever. Shares in Mondi have more than doubled during the past five years as it has also doubled its pretax profits and dividend payments. Mondi should deliver in the year ahead. The European market should achieve steady if somewhat lacklustre growth. The net debt at Mondi fell 100 million to 1.5 billion at the end of December and that is held against 2.9 billion in shareholder equity. The cash generation increased by 24% last year and this in turn funded a 24% increase in the annual dividend. The shares have come back from the record highs of around 16 they reached last summer and now trade on 12 times forecast earnings that more accurately reflect the company's slower growth profile. They should be a steady dividend income generating stock and they remain a long-term hold. Mondi at 13.14 -34p. Questor says 'Hold'.
The Guardian
U.K. government must step up response following Tata crisis says steel Boss: One of the biggest steelmakers in Britain second in size only to Tata has said there is no guarantee that the industry will survive if the government fails to step up its response to the current crisis.
David Cameron 'could lose EU referendum over handling of steel crisis': Campaigners for Britain to remain in the EU have told David Cameron that his government's handling of the steel crisis has put him in danger of losing the in/out referendum as Brexit supporters prepare to target steel communities with hundreds of thousands of leaflets.
Fund run by David Cameron's father avoided paying tax in Britain: David Cameron's father ran an offshore fund that avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents including a part-time bishop to sign its paperwork.
Airbus Executives write staff letter warning of Brexit dangers: Airbus has told its staff that a vote to leave the EU could choke off future investment in the U.K.
M&S: Steve Rowe to retain direct control of clothing division: The new Chief Executive of Marks & Spencer Steve Rowe has signalled he is prepared to make changes to the way the retailer is run by retaining personal control of the troubled clothing division.
Climate change will wipe $2.5 trillion off global financial assets: study: Climate change could cut the value of the world's financial assets by $2.5 trillion (1.7 trillion) according to the first estimate from economic modelling.
Daily Mail
Gemfields holds record breaking auction of stones in Zambia and rakes in 23.3 million: Gemfields held a record breaking auction of stones in Zambia this week raking in 23.3 million.
Just Retirement and Partnership emerge as JRP Group in an attempt to combat tumbling annuity sales: Annuity provider Just Retirement has completed its 1.6 billion merger with rival Partnership Assurance as the pair bid to shore up positions in the much changed U.K. pensions market.
International Monetary Fund says economic crisis in China could plunge world economy back into recession: An economic crisis in China could plunge the world economy back into recession according to the International Monetary Fund.
Daily Express
Britain's growth prospects take new hit as housebuilding slows to three year low: More cracks have appeared in Britain's growth prospects after the pace of housebuilding slowed to its lowest levels for more than three years.
Housing shock: Top London house prices take huge hit as capital's market crumbles: London's wealthiest home Owners are having to drop prices by more than 10% to attract buyers a top estate agent has warned in another sign the capital's market is collapsing.
Saudi Arabia plots major takeovers: 1.4 trillion fund is big enough to buy Apple and Facebook: Desperate Saudi Arabia is to create a 1.4 trillion sovereign wealth fund to raise the cash needed to keep its economy afloat amid plunging profits from lower oil prices.
The Scottish Herald
Mrs Tilly's Scottish tablet fudge and macaroon wins listing in Wm Morrison stores: Family business Tilly Confectionery has secured a contract to supply supermarket group Wm Morrison with Scottish tablet fudge and macaroon.
Black Wolf Brewery unveils 200000 investment in bottling facility for its own and others' beers: Black Wolf Brewery at Throsk near Stirling has unveiled a 200000 investment in a new facility for bottling its own beers and those of other small and medium-sized players in the sector.
Highland Spring set for record year as investment increases: Bottled water market leader Highland Spring Group (HSG) is poised to announce sales of more than 100 million for the second consecutive year.
Women and ex-oil workers help fuel start-up record in Grampian: Grampian and Tayside are outperforming other parts of Scotland in new business start-ups with women and former oil and gas employees contributing to record high numbers according to new figures.
Salmon exports recovering after big fall in 2015: Scottish salmon exports are recovering from a slump in 2015 with factors including a toxic algae crisis in Chile and the strengthening Norwegian kroner helping to boost demand.
Wave of investment expected in tidal power: Tidal power has reached a 'seminal' moment in its development with fund Manager Equitix committing 100 million to help develop the sector over the next two years.
Bibby lands multimillion pound decommissioning contract: Bibby Offshore has won a multimillion pound decommissioning contract for a project in the Northern North Sea East Shetland Basin.
Story wins multi-million pound Velux contract: Creative agency Story has been appointed by the Velux Group for a new pan-European campaign to launch its light-reflecting white-painted roof windows.
The Scotsman
Bank funding backs Scottish care home deal: A 12 million funding package has backed a deal that has seen three Scottish care homes change hands.
Port operator Capital Cruising to increase Scottish visits13/09/2005: Capital Cruising part of Leith-based Forth Ports said the number of cruise ship visits to its Scottish ports will rise to a record level this year.
Wood Group contract extended to provide North Sea services to TAQA: Energy services giant Wood Group yesterday said its contract with Abu Dhabi-based TAQA has been extended by two years.
Ryanair's passenger numbers soar despite industrial action: Budget carrier Ryanair has revealed record monthly figures for March despite three days of 'unjustified' strikes by French air traffic controllers.
Glasgow freight firm Braid U.K. to pay 2.2 million over corrupt deals: A Glasgow-based company has agreed to pay 2.2 million after employees carried out corrupt deals.
City A.M.
Allergan shares tumble in after-hours trading as U.S. Treasury takes further steps to curb 'inversion' deals: Shares in Dublin-based pharmaceutical company Allergan have slumped by almost 20% in after-hours trading after the U.S. Treasury said it was taking steps to curb so-called 'inversion deals' in which U.S. firms reincorporate overseas following an acquisition.
Bankers prepare for job losses as optimism falls to lows not seen since the Eurozone sovereign debt crisis: British bankers are bracing themselves for the largest round of job cuts since the height of the Eurozone sovereign debt crisis as banks struggle to find their way back to profitability and optimism over future earnings shrinks.
BoAML merchant services opens Europe branch to meet demand: Bank of America Merrill Lynch has expanded its merchant services to Europe looking to break into a market dominated by Worldpay and Barclaycard in the U.K.
Property tech start-up Settled wins backing from lastminute.com investor and launches 1 million fundraise: An online property platform aiming to shake-up the traditional estate agency model by encouraging landlords take control of their own sales has launched a 1 million funding round after winning the backing of one of the U.K.'s leading tech investors.
William Hill teams up with SkyBet to help fund 270 million NYX acquisition of OpenBet: Bookmaker William Hill has teamed up with rival SkyBet to invest in Canadian gaming supplier NYX which has announced the acquisition of OpenBet for 270 million.
Pets Corner makes new furry friends after buying rival chain PamPurred Pets for 6 million: Pets Corner the high street retailer dedicated to furry and scaly critters has bought rival business PamPurred Pets for 6 million to create the U.K.'s second biggest pet chain.
Belvoir share price soars as profits at the property services group jump by a quarter: Belvoir Lettings the Aim-listed agency business which runs a network of franchises across the U.K. said revenues jumped by 19% to 6.9 million over the year boosted by acquisitions.
Elephant & Castle scheme and East Village site merged to create 1.4 billion private rented sector venture: The Owners of the East Village residential neighbourhood on the Olympic site and the first phase of redevelopment at Elephant & Castle town centre have agreed to merge the schemes to create a vast 1.4 billion private rented sector estate.