Market Buzz
Monday newspaper round-up: PL auction, consumer spending, construction, Shell
The executive chairman of the Premier League has indicated that the door is open for online giants to end the reign of BT and Sky and show live matches across the UK for the first time. Richard Scudamore insisted that there was “no ceiling in sight” after the pair spent £5. 14 billion on three seasons of rights in 2015. The league is “technology-neutral” as it prepares to auction the next batch, he said, amid growing expectation that Amazon, Twitter and Facebook could enter the race.
Sunday newspaper round-up: Sainsbury's, Brexit, Arqiva IPO
Sainsbury’s is taking the axe to more than 1,000 jobs at its head office as part of a giant £500m cost-cutting drive. It is understood that a team of top consultants from McKinsey have been parachuted into the supermarket’s headquarters to draw up a staff reduction plan. - The Sunday Telegraph.
Friday newspaper round-up: Julius Baer, Brexit, L&G, British Gas
A Swiss bank that accepts only customers with at least £2m of assets is defying Brexit with plans to expand in the UK through new offices in Manchester, Leeds and Glasgow. Julius Bär will also put a small team in Belfast as it ventures beyond its UK operations in London. It is expected to hire 30 financiers for the new locations. - Guardian.
Thursday newspaper round-up: FTSE 100 pay, energy companies, Tesla
Ordinary employees would have to work for 160 years to earn the average remuneration of FTSE 100 chief executives in 2016, according to new research. The average take home pay for the bosses of Britain’s top stock market-listed companies was £4. 5m last year, according to the High Pay Centre’s annual survey of top executive pay. This compares to Office for National Statistics figures showing average annual earnings of £28,200 for full-time employees in the year to April 2016.
Wednesday newspaper round-up: Britain's economy, Saudi Aramco, AA, Apple
Britain’s economy will surge back to life in the next six months following its slow start this year, a leading forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection. The National Institute for Economic and Social Research (NIESR) said a boom in exports after the fall in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to almost 2% and convince the central bank to increase the cost of borrowing.
Tuesday newspaper round-up: Housing, trade deals, RPI, BoE Brexit
The housing crisis is set to worsen for young people already priced out of the property market as growing numbers of landlords refuse to rent to people under 35, according to research. A study by Sheffield Hallam University found that one third of landlords were cutting back on renting to under-35s. Concerns over younger people’s ability to pay encourages landlords to look for older and more secure tenants. - The Times.