Thursday newspaper round-up: Manufacturers, Apple, Deutsche Boerse, Iceland

Britain’s manufacturers are facing the biggest shortage of skilled workers since 1989 amid record levels of UK employment and falling numbers of EU27 nationals coming to the country to work since the Brexit vote. The British Chambers of Commerce (BCC) said more than four-fifths of manufacturers struggled to hire the right staff in the final months of 2018. – Guardian

Apple cut its sales forecasts for its key end of year period on Wednesday, citing the unforeseen “magnitude” of the economic slowdown in China. Trading in the company’s shares was temporarily halted as Tim Cook, Apple’s chief executive, issued a letter to shareholders explaining the reason for the change. When selling started again, Apple shares fell by 7.45%, wiping $55bn (£44bn) off its value. – Guardian

A high-profile insider trading case against Deutsche Boerse's former boss Carsten Kengeter has closed after he agreed to pay €4.75m (£4.2m) and make a donation to charity. The decision to drop the probe ends a long-running investigation which began when Deutsche Boerse was in merger talks with the London Stock Exchange (LSE) over a potential £21bn deal. The ill-fated tie-up was eventually quashed for competition reasons. – Telegraph

A Californian fashion brand that counts celebrities Jennifer Lopez and Cara Delevigne as fans is gearing up for a £25m listing on London's junior stock market. LA-based photographer and DJ Corey Epstein and entrepreneur Mark Lynn set up DSTLD in 2014 to sell premium jeans directly to consumers at a lower price than traditional retailers. – Telegraph

The government could raise almost £7 billion a year by tightening up five wealth taxes, a think tank has claimed. Income growth in Britain has been stagnant for more than a decade, but levels of wealth have soared and the taxation system is not properly geared towards taxing it, the Resolution Foundation said. – The Times

An influential parliamentary committee is investigating why HM Revenue & Customs threatened Iceland Foods with a £21 million bill over a Christmas savings scheme for low-paid staff. Nicky Morgan, chairwoman of the Treasury select committee, said that the decision appeared “perverse” and risked dissuading the company from assisting its employees. The supermarket chain attacked what it called the taxman’s “idiotic” actions. – The Times