Monday newspaper round-up: Gambling body, Buffett, Thomas Cook, Laing O’Rourke
Gambling companies are planning to set up a new trade body to lobby politicians as the prospect of tougher regulation of the industry grows. Job adverts posted by the recruitment firm Ellwood Atfield appear to confirm rumours of a merger between the Remote Gambling Association, which represents online betting firms, and the Association of British Bookmakers, which came in for heavy criticism during the battle over fixed-odds betting terminals. – Guardian
The billionaire investor Warren Buffett has used his widely-read annual letter to shareholders to take a swipe at Donald Trump, saying no one person should claim credit when the US economy goes well. Buffett, who supported Hillary Clinton in 2016, wrote that “it is beyond arrogance for American businesses or individuals to boast that they have ‘done it alone’.” – Guardian
Investors have placed their biggest bets against Thomas Cook in a year as fears grow that the sale of its airline could be blown off course by a turbulent aviation market. The travel agent was plunged into crisis last year after a string of profit warnings led to a call for support from its banks to allay concerns of a cash crunch. Thomas Cook then put its airline on the market earlier this month to provide “greater financial flexibility and increased resources”. – Telegraph
Bosses at Britain’s largest private construction business enjoyed a sharp rise in payouts last year despite ongoing losses and a bumpy refinancing that forced it to file its accounts months after the legal deadline. Five directors at Laing O’Rourke, which has worked on major projects such as Crossrail and Heathrow Terminal 5, were paid £3.4m in salaries and short-term incentives in the year to March 2018, compared with just £1.6m in the previous 12 months. – Telegraph
Businesses have lost faith in the political process, the Institute of Directors warned as research revealed that confidence in the service sector is sinking at its fastest pace since the financial crisis. Responding to the government’s decision to delay a meaningful vote on the Brexit deal until as late as March 12, the institute said that further postponement would only “drag out uncertainty” and risk an accidental no-deal. – The Times
The gender pay gap at the Bank of England has worsened in the past year despite a pledge by Mark Carney, its governor, to increase the number of women in its most senior roles. Women working at the Bank are paid an average of 24.6 per cent less than male employees. That figure, which is the median gender pay gap, rose from 24.2 per cent a year earlier, according to the government equalities office. The difference in bonuses rose by 0.7 percentage points to 26.4 per cent. – The Times