Lonmin Share News (LMI)

(ShareCast News) - Debenhams has watered down the targets its bosses need to hit to receive multimillion-pound paydays, saying the lower hurdles reflect "ongoing challenges in the UK retail sector". The struggling department store chain, whose chief executive resigned in October after a wave of shareholder unrest, has softened the performance criteria for its long-term bonus scheme. The move is likely to prove controversial given investor pressure over poor trading and a flat share price this year. - The TimesGeorge Osborne will pave the way for tough new measures to curb the buy-to-let boom this week, amid signs the market is reaching dangerous levels. The chancellor will launch a consultation on handing the Bank of England wide-ranging powers to crack down on risky lending to landlords. The Bank's officials currently have less control over buy-to-let than they do over residential mortgages. - The TimesThe South African government has become the single biggest shareholder of Lonmin after intervening in the bailout of the world's third-largest platinum producer. Last week, London-listed Lonmin pulled off a $407m (£267m) rights issue to stay afloat. The company's coffers had been drained by the plunge in the price of the precious metal and a damaging strike last year that forced it to close its mines for five months. - The TimesThe obstacles facing this weekend's historic global climate change accord were thrown into relief on Sunday night when businesses and government officials downplayed the impact of the deal and US Republicans underlined their opposition. - Financial TimesJohn Lewis is investing £500m in its online shopping service as it aims for internet sales to overtake those in shops within just four years. The department store chain has embarked on an investment programme to be completed by the end of 2018 which will add hundreds of recruits to its IT department as online demand for products continues to soar. - Financial Mail on SundaySupermarket giant Sainsbury's will not follow rivals Tesco and Morrisons by closing stores, its finance chief said, claiming the group is heading into Christmas with a 'bounce in its step'. With just two weeks trading left before the big day, John Rogers said he was 'quietly confident'. - Financial Mail on SundayRoyal Bank of Scotland's plans to restore public trust in the state-backed bank have been dealt another blow after it emerged that it denied thousands of customers access to their cash. RBS faces an investigation by regulators after admitting "misinforming" 4,500 people who had money in dormant accounts that their savings were not held at the bank. - The Daily TelegraphThe boss of one of the world's largest companies and a major backer of the Tories says pulling out of Europe would damage Britain's trade interests. Ian Taylor, the chief executive of trading giant Vitol, said it could leave Britain more isolated on the international stage. Taylor, one of the UK's wealthiest men, has donated hundreds of thousands of pounds to the Conservative party in recent years. - The Daily TelegraphRussia is battening down the hatches for a Biblical collapse in oil revenues, warning that crude prices could stay as low as $40 a barrel for another seven years. Maxim Oreshkin, the deputy finance minister, said the country is drawing up plans based on a price band fluctuating between $40 to $60 as far out as 2022, a scenario that would have devastating implications for Opec. - The Daily Telegraph