Tuesday newspaper round-up: Alphabet, Mirror, whistleblowing

Google owner Alphabet shrugged off mounting concerns over privacy on Monday to report an 84% rise in profits for the last quarter. The results eased concerns that investment in new ventures beyond its core search business was undermining Alphabet’s outlook. There also were no immediate signs that rising global privacy concerns would affect profits. – Guardian

The government has dealt a blow to the Daily Mirror publisher’s £200m takeover of the Express and Star titles by signalling its intent to launch an investigation into the deal over issues including editorial independence. The culture secretary, Matt Hancock, said on Monday he was “minded to” issue a public interest intervention notice for an in-depth inquiry and would come to a final decision “shortly”. The move follows the decision by the Competition and Markets Authority (CMA) this month to open an initial investigation into the deal. – Guardian

One of Europe’s biggest investment managers is preparing to name and shame companies which behave unsustainably – and to ditch billions of pounds of investment in their shares. Legal and General Investment Management (LGIM), which manages assets worth almost £1 trillion, has stepped up efforts to push the firms in which it invests to clean up their act with a "climate change pledge". – Telegraph

British companies must set up internal reporting channels to bosses and the media under new EU laws to strengthen whistleblower protection brought forward after the "dieselgate" and Cambridge Analytica scandals. Britain has one of the most advanced systems of protection in place but the European Commission’s proposed legislation will require some businesses to take further steps. – Telegraph

Neil Woodford’s investment funds suffered a paper loss of nearly $290 million on their holding in Prothena last night after the American biotechnology company scrapped a drug. Funds controlled by Woodford Investment Management own just under 30 per cent of Prothena, which surprised investors yesterday by abandoning its treatment for AL amyloidosis, a rare disease that can lead to organ failure, after it failed in late-stage trials. – The Times

Victory in the battle to print the next generation of British passports has not stopped the war of words between the Franco-Dutch winner of the contract and its beaten UK rival. Gemalto attacked De La Rue yesterday, insisting that it would “never complain” if it lost a tender and expressing surprise at the short-lived campaign to overturn the decision launched by its Basingstoke-based rival. – The Times