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In the papers: BHP Billiton, Scottish Power, HSBC

Published: 03:27 18 Apr 2016 EDT

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The Times
Standard Chartered lines up Tucker for Chairman: Standard Chartered has spoken to Sir Paul Tucker, the former deputy Governor of the Bank of England, about becoming its Chairman.
Irish sale of the century puts Osborne on spot: The government body charged with selling gilts has played down reviving plans to launch an “Osborne bond”, despite the Republic of Ireland issuing its first century bond in March and data showing an extension of sovereign bond maturities.
British exit from European Union could drain £4 billion in subsidies: Britain could lose about £4 billion a year of investment in housing, universities and utilities if it leaves the European Union, Labour will warn.
Russia launches appeal over $50 billion Yukos case: A heavy blow in a decade-long battle between the Russian government and some of the country’s richest men will be struck this week with a ruling on a $50 billion award made after the collapse of Yukos in 2007.
Wall Street puts youngsters on easy street: Growing alarm about a brain drain of talent to the technology industry is prompting banks on Wall Street and in the City of London to swap their insistence on marathon working weeks and a pay-your-dues mentality for a less rigid culture that appeals to younger workers.
Microsoft takes aim at Rosslyn Data Technologies: A small AIM-quoted handler of so-called “big data” for multinational clients looks like being the latest British technology company to slip into American hands. Microsoft appears to be the most likely buyer of Rosslyn Data Technologies after several clients are understood to have Expressed an interest.
The Independent
EU Referendum: Vote to leave Europe would make British households £4,300 worse off, according to Treasury report: A vote for Brexit will do “permanent” damage to the U.K. economy, an official analysis by Treasury officials will warn.
The Daily Telegraph
BHP Billiton Boss warns Brexit will lead to a “decade” of trade negotiations: Andrew Mackenzie, the Chief Executive of struggling mining giant BHP Billiton, has joined the chorus of FTSE 100 Bosses pleading with voters to opt to remain in the EU, claiming a Brexit could result in a “decade of disruption” to trade agreements.
IMF to launch information sharing plan as world clampdown on tax avoidance begins: Stamping out “toxic” tax avoidance by multinational companies will take years, the managing Director of the International Monetary Fund has warned.
Mobile cheque payments to be delayed by another year: Bank customers will have to wait another year before they can pay in cheques via their mobile phones, as banks are falling out over plans to roll out the new technology.
Dave Owner U.K.TV could be freed from BBC grip to go on deal spree: The Owner of the TV channels Dave and Gold could get backing for an acquisition spree from its American investor if the BBC’s influence over it is reduced in line with government plans.
Orion Media eyed by radio rivals: Orion Media, the Midlands-based radio group, is turning up the dial on a £40 million-£50 million auction after attracting attention from rivals.
Bridges Ventures sells online training college for £22 million: Ventures, the fund Manager started by Sir Ronald Cohen, has sold its stake in an online college for apprentices for £22 million, as the government seeks to boost vocational training.
AstraZeneca mulls £7 billion move for prostate cancer drug company Medivation: AstraZeneca is mulling a £7 billion offer for the U.S. drug company Medivation after it rejected a bid from a French rival.
The Guardian
Oil producers fail to agree deal to freeze output after Saudi Arabia-Iran standoff: The world’s major oil producing nations failed to strike an agreement on Sunday night to freeze production, saying they needed more time to agree a deal to try to buoy the price of oil.
Boots could face regulator’s investigation after Guardian report: Boots faces the prospect of an investigation by the pharmacy watchdog, following a Guardian investigation into the multibillion pound chain.
Brexit would leave U.K. ‘permanently poorer’, says George Osborne: Britain would be “permanently poorer” if voters choose to leave the EU, George Osborne has warned, as a Treasury study claimed the economy would shrink by 6% by 2030, costing every household the equivalent of £4,300 a year.
RBS pulls back fossil fuel investments as green deals grow: Royal Bank of Scotland has reduced its global lending to oil and gas companies and doubled its green energy loans in the U.K. to £1 billion a year, according to new figures released to the Guardian.
France gives go ahead to Hinkley Point, French Minister says: France will go ahead with construction of the £18 billion Hinkley Point nuclear power plant in Britain and will begin agreeing technical details in the coming weeks, the French economy Minister has said.
Buy-to-let landlord surge ignites chain reaction in housing market: The average asking price of homes coming on to the market has risen to a new high, increasing by 1.3% over the past month to an average of £307,033 as landlords raced to buy properties ahead of an increase in stamp duty.
Daily Mail
Shell and Scottish Power guilty of energy fraud and market manipulation in the U.S.: Shell and Iberdrola-owned Scottish Power have been found guilty of fraud and market manipulation which led to power blackouts in the San Francisco bay area.
Opec oil deal set to drive petrol price up to 115p a litre - and Brexit could hit drivers at the forecourt: Petrol prices are set to soar to 115p a litre if a deal is struck by Opec leaders who are meeting in an attempt to drive up the cost of crude oil.
Farmers expected to endorse staying in EU as exports to Europe are ‘significant’: The nation’s farmers are poised to wade into the EU debate with a special meeting of the National Farmers Union council set to declare its official position.
Shareholders urged to stand their ground on fat cat pay after recent rebellions: Investors must stand strong against fat cat pay, the Chairman of the Treasury committee has said, in the wake of shareholder rebellions against BP and Smith & Nephew last week.
Daily Express
Boom in U.K. spending to drive growth: Consumers will be the main drivers of U.K. economic growth this year, but businesses will take up the reins next year with investment levels set to soar, according to a report.
Rush to avoid stamp duty hike sends house prices to new high: The average price tag on a home leapt to a record high of more than £307,000 in April as a last-minute rush of buy-to-let investors energised the market, a property website has reported.
The Scottish Herald
Tech star Administrate opens U.S. office and announces two key hires: One of Scotland’s fastest-growing tech companies, Administrate, has announced the opening of its first overseas office in the United States and the appointment of two key Executives, including the former finance Chief of Skyscanner, the Scottish $1 billion travel search group.
EU Referendum damaging Scotland’s construction market: Uncertainty over the U.K.’s future in the European Union is damaging the property and construction sector, according to Grant Thornton.
Dividends fall but worst may be over: U.K. companies could pay lower dividends this year for the first time since 2010, but the underlying picture is brighter, says Capita’s latest U.K. Dividend Monitor.
The Scotsman
Accountants Johnston Carmichael swoop on trio for renewables: Mid-tier accountancy firm Johnston Carmichael is targeting infrastructure and renewables as a key growth sector after poaching a trio from ¬larger rival RSM.
Scottish exporters feel pressure from China and Eurozone: A weakening global economic picture typified by the slowdowns in China and the Eurozone have hit exports at Scotland’s small and medium-sized businesses, a new report out revealed.
HSBC launches new £450 million SME warchest: HSBC has launched a £450 million lending fund to support small and ¬medium-sized businesses (SMEs) in Scotland in 2016 to meet “growing demand”.
City A.M.
EU referendum and Brexit risk low priority for dealmakers in global M&A survey: The prospect of a Brexit is a low-priority risk for global dealmakers, a new mergers and acquisitions (M&A) report suggests. Research by law firm Herbert Smith Freehills (HSF) also found global appetite for M&A has been largely unaffected by economic volatility in 2016.
Greybull Capital: Investment firm plans to make former Tata Scunthorpe plant one of the world’s leading steelmaking centres: One of the three Bosses at Greybull Capital, Marc Meyohas, has pledged to put the ailing Scunthorpe steel plant “back on the map as one of the world’s leading steelmaking centres”.
HSBC’s Chief Executive Stuart Gulliver standing down in two years, with Axa’s Henri de Castries hotly tipped as new Chairman: Stuart Gulliver, the Chief Executive of banking giant HSBC, looks set to stand down from his role in two years.
Monarch Airlines considers inbound and outbound bids less than two years after Greybull flew to its rescue: Monarch Airlines is considering both inbound and outbound bids less than two years after it nearly collapsed.
HMRC launches new consultation into tax evasion laws for corporates, as Panama Papers scandal rumbles on: HM Revenue & Customs (HMRC) has opened a consultation seeking input on a new offence aimed at businesses which fail to prevent tax evasion.
U.K. retail footfall: Shoppers abandon high street at even faster pace in March: Shoppers abandoned the high street at an even faster pace last month, with the early timing of Easter and the heavy rain brought on by Storm Katie blamed for keeping visitors away.

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