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ShareCast News - Press Round-Up

Friday newspaper round-up: Tesco, homes, Brexit, internet tax

(ShareCast News) - One of the City's most influential shareholder advisory groups has told investors in Booker Group to vote against a proposed 3.7 billion sale of the cash-and-carry business to Tesco. With just two weeks before a shareholder vote on the takeover, Institutional Shareholder Services (ISS) said that the recent uplift in Booker's share price meant that Tesco "appears to be getting the better deal under the current terms". - The Times
[16 Feb '18 06:42]

Thursday newspaper round-up: Wages, sterling, Sky, food warning, Booker

(ShareCast News) - Britain is set for a pay rise as the world economy lifts growth and falling migration makes it harder for companies to find cheap foreign labour. A report by the regional agents of the Bank of England suggests firms expect to give the average worker a 3.1 per cent pay rise in 2018, compared to 2.6 per cent last year, amid the strongest growth for a decade. - Daily Mail
[15 Feb '18 06:43]

Wednesday newspaper round-up: RBS, Zuma, Putin

(ShareCast News) - MPs are planning to make an unprecedented use of their parliamentary powers to publish a report into the mistreatment of thousands of small and medium-sized companies by Royal Bank of Scotland. Nicky Morgan has asked the Treasury select committee, which she chairs, to support the release of the confidential document, having used parliamentary privilege to obtain it from the Financial Conduct Authority. - The Times
[14 Feb '18 06:50]

Tuesday newspaper round-up: Carillion, Trump, RBS, algos

(ShareCast News) - MPs have accused the "big four" accountancy firms of "feasting on what was soon to become a carcass" as it emerged they banked 72m for work linked to collapsed government contractor Carillion in the years leading up to its financial failure. Less than a fortnight before Carillion's auditor KPMG is due to face questions from MPs on two select committees, the accountant and rivals Deloitte, EY and PricewaterhouseCoopers (PwC) submitted evidence to the inquiry. - Guardian
[13 Feb '18 07:34]

Market buzz: Fed apparently not stressing

(ShareCast News) - 1630: Fed not stressing, Michael Gapen and Pooja Sriram at Barclays believe, telling clients: "US equity markets falling into correction territory in recent days begs the question of how far equities would have to fall, or volatility to rise, for the Fed to consider a delay to its policy plans. We think it is too early for the Fed to consider altering course and we believe the committee will likely take some comfort in the tightening in financial conditions as it will reduce the risk of a hard landing over time. [...] we expect fiscal stimulus to keep the US economy growing above trend. We maintain our outlook for a 25bp increase in the target range for the federal funds rate in March, and for four rate increases in 2018."
[12 Feb '18 08:57]

Monday newspaper round-up: Aldi, Warren Evans, Tesco, Lloyds

(ShareCast News) - Discount grocer Aldi has taken over from upmarket rival Waitrose as Britain's favourite supermarket according to an influential shopper survey. The fast-growing German discounter has impressed shoppers with the quality of its fresh and own-label food as well as its special offers, according to the annual best and worst supermarket satisfaction survey by Which?. - Guardian
[12 Feb '18 07:13]

Friday newspaper round-up: Premier League, Talktalk, Carillion challenge, Brexit

(ShareCast News) - Facebook, Google and Netflix are not submitting bids for the next round of Premier League TV rights, with most analysts believing Sky and BT will remain the major players. It had been thought the Silicon Valley tech giants could intervene and cause a price hike from the 5.1bn Sky and BT combined paid in 2015 but the Guardian understands they are not yet ready to get involved in live sport rights in the UK. - Guardian
[9 Feb '18 07:23]

Thursday newspaper round-up: Brexit, Tesla, energy cap, RBS

(ShareCast News) - The boss of Britain's biggest pharmaceutical company, GlaxoSmithKline, has urged the government to sign a two-year transition deal by April to ensure the industry can cope with the impact of Brexit. Emma Walmsley, GSK's chief executive, said the tight deadline was key to giving businesses the clarity needed to invest. "The most important thing is that we get a transition period of at least two years, starting from March 2019, but ... secured by April 2018, and we need to make sure that the negotiations that are ongoing are very clearly focused on patient safety and the continued supply of medicines to patients." - Guardian
[8 Feb '18 07:36]

Wednesday newspaper round-up: Tesco, UK growth, Boeing, Carillion

(ShareCast News) - Tesco is facing a demand for up to 4bn in back pay from thousands of mainly female shopworkers in what could become the UK's largest ever equal pay claim. A law firm has launched legal action on behalf of nearly 100 shop assistants who say they earn as much as 3 an hour less than male warehouse workers in similar roles. Up to 200,000 shopfloor staff could be affected by the claim, which could cost Tesco up to 20,000 per worker in back pay over at least six years. - Guardian
[7 Feb '18 07:26]

Tuesday newspaper round-up: Retailers, Brexit, Carillion, London property prices

(ShareCast News) - Britain's retailers battled through "tough" trading conditions in January as consumers preserved their cash for essential food shopping and shunned big ticket purchases. Non-food sales declined by 1.2% in the three months to the end of January with furniture sellers, shoe shops and high street clothing retailers recording their worst performance since 2009, according to British Retail Consortium (BRC) and KPMG data. - Guardian
[6 Feb '18 07:25]

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