In the Papers – Apple, Pret A Manger, Uber, Aldi

Newspaper Summary

The Times

Marks & Spencer set to lose retail crown to upstart online rival Asos: Asos, the 17-year-old online retail upstart, is little more than £100 million short of overhauling the market value of Marks & Spencer in what is being called the U.K. high street’s “Tesla moment”.

Brexit set to drive up cost of shopping, says British Retail Consortium: Four years of falling shop prices are drawing to a close as inflation creeps back on to the high street as a result of the fall in the pound since the country voted for Brexit, according to the British Retail Consortium.

UTC close to $20 billion Rockwell takeover: The aerospace components industry is set to be transformed by the $20 billion takeover of by .

Saudi Aramco oil float aids jihad, says 9/11 widow Kristen Breitweiser: Saudi Aramco’s potential $2 trillion New York listing has attracted fresh criticism after the widow of a 9/11 victim described it as “nothing short of a crowdfunding campaign for jihad”.

Freeport mine deal ends uncertainty: A deal was struck to end a years-long stand-off over the world’s second-largest copper mine in a resolution that will hand Indonesian shareholders a majority stake.

Monthly rents hit average of £874 in July as supply of property declines: A bottleneck of housing supply has caused the average cost of renting to rise in July to £874, according to a monthly index by Your Move.

Life sciences seek closer links with NHS in review led by Oxford university professor Sir John Bell: Tax incentives, increased funding and closer collaboration with the NHS over streamlining access to medicines are among measures called for by the life sciences sector in a significant report.

Bitcoin mine craze boosts graphics cost: The bitcoin mining craze has claimed a new victim: computer gamers. Specifically, those requiring high-end graphics cards to play the latest games that demand the best chips.

makes first acquisition in China: , the highly acquisitive FTSE 100 company, has bought its first business in China topping up its record spending on takeovers which has also helped the group report record first-half revenues.

LVMH gives it a whirl as it jazzes up jardin: LVMH, the French luxury goods group, is spearheading a €60 million investment project to turn Paris’s historic Jardin d’Acclimatation into an amusement park.

No tips for : It is a year since Andy McCue took the reins at The as Chief Executive, but the market remains cautious over the pace of the turnaround under the former Paddy Power Boss.

The Independent

Pension deficit now equals 70% of U.K. companies’ entire annual profits fuelling retirement fears: The huge deficit in the pension funds of the U.K.’s biggest listed firms rocketed last year, adding to concerns over how companies’ schemes will fund workers’ retirement incomes.

Google to outline plans to deal with EU’s antitrust order over shopping search results: Google said it will notify EU regulators on Tuesday on how it plans to ensure its search engine does not favour its own shopping service over rivals’.

Corporate tax avoidance crackdown centres on small businesses, reveals new research: A crackdown on tax avoidance by the U.K.’s small and medium-sized companies led to a 5% increase in the amount of cash collected by HMRC in the most recent tax year, new research reveals.

Ford and Domino’s trial delivering pizza in self-driving cars: Ford and Domino’s in September will begin testing Michigan consumers’ reactions to having their pizzas delivered by self-driving vehicles, the companies said on Tuesday.

Euro surges as ECB Chief Mario Draghi focuses on global trade: The euro surged past a key level on Tuesday as investors grew bullish about its outlook after the head of the European Central Bank refrained from talking about the single currency’s recent strength and in the backdrop of brewing U.S. fiscal problems.

The Daily Telegraph

Government waters down PM’s plans for Executive pay reform: Theresa May has been forced to abandon her flagship plan to reform Executive pay, prompting relief among business leaders but criticism from ¬unions and Labour MPs.

Pound almost at parity with the euro as it falls to an eight-year low amid Pacific crisis: Sterling tumbled against the euro as the single currency has emerged as the markets’ safe haven of choice when faced with a potential war across the Pacific.

U.K. supermarket shares slip as fears rise about effect of Amazon’s move to slash prices at Whole Foods: Shares in each of the major British grocers fell on the back of moves by Amazon to slash prices at the Whole Foods business it took ownership of this week.

Major vaccine lab to protect U.K. from epidemics among industrial strategy plans for £64 billion drugs sector: The Government will reboot its industrial strategy with a £160 million injection into Britain’s drugs sector, with a major vaccines lab to prepare the country for emergency epidemics among the first initiatives to get support.

Sky stops broadcasting U.S. channel Fox News: Rupert Murdoch has stopped broadcasting Fox News in the U.K. after 15 years, ahead of a government decision over whether to refer Fox’s planned takeover of Sky to competition regulators.

Gazprom profit slides but Europe sales push higher: Gazprom, the largest Russian gas producer, saw its profit slump more than 80% in the second quarter of 2017 despite exports to Europe continuing to boom.

Lloyd’s of London insurers fall as analysts predict Hurricane Harvey bill: Shares in U.K. insurers’ Lancashire Holdings, and Beazley slipped on Tuesday after analysts warned they face tens of millions of pounds in losses on Hurricane Harvey.

Bidders circle ahead of September deadline: The battle for parts of , the trouble airline that fell into administration earlier this month, ramped up this week as it emerged German airline Lufthansa is eyeing 12 of its long-haul aircraft.

The Guardian

Hasta la vista, PPI! Schwarzenegger fronts FCA’s £42 million campaign: The U.K.’s financial watchdog is to launch a £42 million campaign featuring a model of the Terminator star, Arnold Schwarzenegger, to raise awareness of the deadline for making complaints about payment protection insurance.

Total Harvey cost could be as high as $100 billion, says insurance expert: With the catastrophic Texas floods triggered by the former Hurricane Harvey expected to worsen, early estimates suggest the financial damage it has inflicted has already run into tens of billions of dollars, and one forecaster has predicted the final bill could be as high as $100 billion (£77 billion).

Credit card lenders ‘targeting people struggling with debt’: Credit card lenders appear to be targeting people struggling with unaffordable levels of debt, according to a new report calling on Britain’s financial watchdog to intervene.

Aldi tries to gag truck drivers’ union after claims of unsafe practices: Aldi will push ahead with a court case to gag the union representing truck drivers, which says the supermarket giant is pressuring drivers to meet schedules that are not safe.

Employers failed to pay $17 billion in super since 2009, tax office says: Australia’s employers have failed to pay $17 billion in super belonging to their employees since 2009, and tax authorities have only been able to detect and claw back $3 billion.

Daily Mail

Astra strikes £309 million deal with Takeda Pharmaceutical to create Parkinson’s treatment: Drugs giant has struck a £309 million deal with Takeda Pharmaceutical to create a treatment for Parkinson’s disease.

becomes first U.K. supermarket to launch an app on Amazon’s popular Alexa device: has become the first British supermarket to strike a deal with Amazon’s Alexa by launching an app on the popular device.

Boss Tim Cook handed £70 million bonus as he prepares to unveil iPhone 8: Boss Tim Cook has been handed a £70 million bonus as he prepares to unveil the next blockbuster iPhone.

Sainsbury’s launches Argos click and collect service in bid to fend off threat from Amazon: Sainsbury’s is fighting back against the threat posed by Amazon by launching an Argos click and collect service across its convenience stores.

Taxi app firm is forced to stop snooping on its customers after their drivers drop them off: Taxi app firm is to ditch a controversial feature that let it snoop on customers after their drivers dropped them off. The company said it was tracking passengers after they alighted to help ensure their safety.


Global stock market chaos over North Korean missile fire: Global stock markets wobbled By David Shand and gold hit a near 10-month high as political tensions grew after North Korea launched a ballistic missile over Japan.

Jardine of London’s luxury handbags show British craft at its best: The Founder of the Jardine of London brand is one of the few producing finely crafted ranges working with a U.K. factory and primarily local tanneries.

North Korea’s latest missile sends FTSE 100 and world markets crashing as gold prices soar: Stock markets have plunged after North Korea fired a missile over Japan, with the FTSE 100 crashing more than 1%, amid rising fears of world nuclear war.

House prices tumble as stamp duty hits record high: House prices fell in August as stamp duty takings hit fresh highs, raising new fears the tax is hitting the U.K.’s property market.

Pret A Manger to offer 25p discount to customers who bring their own reusable cups: Pret A Manger is offering discounts to customers who opt not to use paper cups. Bosses of the sandwich chain say they will cut 25p off the price of hot drinks to people who bring in reusable cups.

The Scottish Herald

Tech firm wins 10-year contract with Great Ormond Street trust: Healthcare technology business Aridhia has won a 10-year contract with Great Ormond Street Hospital NHS Foundation Trust.

Uncertain U.K. times flagged by trust amid Brexit talks: The Chairman of has highlighted increased U.K. economic and political uncertainty following June’s General Election, as the country begins detailed negotiations to leave the European Union.

U.K.’s divorce from Europe likely to have far-reaching legal impact: It is not every day that a law student is so familiar with the material being taught that they could take their lecturer’s place.

Rising import prices feed through to high street: Non-food product price deflation in the U.K. retail sector has eased to its weakest annual pace for more than four years, against a backdrop of more expensive imports resulting from sterling’s post-Brexit vote weakness, a survey shows.

Aberdeen-based Faroe Petroleum highlights value of tax breaks available in Norway: North Sea-focused Faroe Petroleum has highlighted the appeal of Norwegian acreage in the area as an investment bank predicted the crude price could remain under pressure for months yet.

The Scotsman

New Director for Edinburgh BioQuarter life sciences hub: Edinburgh’s BioQuarter has appointed the former Chief Executive of Scandinavia’s largest science park as its new Director.

Outsourcing group Mitie faces FCA probe into profit warning: The City watchdog has launched an investigation into struggling outsourcer Mitie.

Pension deficit soars to £62 billion across biggest listed firms: New evidence of the challenge facing the pensions industry has emerged in a report revealing that the deficit of the U.K.’s biggest 350 listed companies rocketed last year.

pledges to give staff and charities 20% of profits: Staff at Aberdeenshire craft beer producer could be in line for a £22,500 windfall each over the next five years after the firm pledged to give away a fifth of its annual profits.

sees revenues lift for seventh year running: Accountancy major has boosted its revenues by £340 million – or 11% – to £3.38 billion, the seventh successive year of growth, as it hailed a “transformative” period in Scotland.

City A.M.

Retail experts warn of gaps on shelves in stores if government doesn’t prepare for Brexit: Retail industry experts have warned gaps could appear on supermarket shelves if the government does not secure the right customs agreements and infrastructure investment required to prepare the U.K. for Brexit, retail experts have warned

Movado clocks up profits after buying London brand Olivia Burton: Watchmaker has clocked up its profits after buying London brand Olivia Burton.

Amazon closed its takeover of Whole Foods faster than any other big public retail acquisition on record: It took just 73 days for Amazon to close its takeover of Whole Foods, making it the fastest retail buyout worth more than $5 billion (£3.9 billion) in U.S. history.

Apple and are partnering on an App-focused practice to get more businesses on board with the iPhone and iPad: Apple and have formed a new partnership focused on helping businesses make the most of apps.

U.K. TV industry at risk of losing £1 billion to the likes of Amazon, and YouTube: The traditional U.K. TV industry is at risk of losing £1 billion to digital disruptors, a new report has warned.

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