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Tuesday newspaper round-up: Hiring, cryptocurrencies, Qualcomm, Melrose backed
Hiring confidence among British companies has reached its highest level in more than a year and recruitment is set to pick up as businesses shrug off downbeat economic projections, according to a closely watched study. Low unemployment and strong demand for more workers means companies are increasingly forced to pay joining bonuses of 15pc or 20pc of salaries to entice new recruits. The poll of 2,102 employers across nine different industry sectors by the recruitment firm ManpowerGroup is used by the Bank of England as an early indicator for changes in the jobs market. - The Times/Telegraph/Guardian
If central banks ever issued their own cryptocurrencies, they could become rivals to cash, draining funds from the commercial banking system and accidentally driving up market interest rates, a global watchdog has warned. Central banks including the Bank of England, the Swedish Riksbank and the US Federal Reserve have all commented on the idea in public, with the Riksbank actively investigating the implications of its own digital currency. - Telegraph
President Trump has blocked a record-breaking merger of two of the world's largest microchip makers on national security grounds. In an executive order issued last night, he instructed Broadcom, based in Singapore, to terminate its $117 billion hostile takeover of its American rival Qualcomm, which is the largest technology deal ever proposed. The order will be seen as further evidence of Mr Trump's protectionist agenda. - The Times
One of the City's top institutional investors has backed Melrose's proposed hostile takeover of GKN. After a dramatic day in which the bid was raised to £8.1 billion and the war of words between the two intensified, Aviva Investors, a top 25 shareholder in GKN, said that it would support Melrose. - The Times
A record number of households switched suppliers in the retail energy market last month, showing it has never been more competitive, as the Government accelerates its plans to cap prices. The legislation to support a price intervention across the market came under a second parliamentary reading last week ahead of fresh figures which show a record amount of energy switching. - Telegraph
The competition watchdog is assessing whether the proposed merger of SSE and Npower, the energy suppliers, could be affected by the sale of Npower's parent to a rival. Npower is owned by Innogy, which is majority-owned in turn by RWE. RWE said over the weekend that it planned to sell its stake to Eon, its fellow German utility, as part of a multibillion-dollar asset swap. - The Times
Uber is beefing up its food delivery arm with plans to launch in 40 more UK cities. The US-based firm, known for its taxi smartphone app, said the move was part of a major expansion. - Mail
Neil Woodford has pumped £5 million into an Oxford biotechnology company a day after it emerged that his fund management firm had sold out of a leading investment platform on the eve of its stock market listing. Woodford Investment Management stumped up half the £10 million raised yesterday by Oxsybio, a start-up 3D printing company in the biotechnology sector, which was founded by an entrepreneur with whom Mr Woodford has invested previously. - The Times