Monday newspaper round-up: Labour, Boris, Aramco, Heathrow
By Duncan Ferris
Date: Monday 18 Nov 2019
(Sharecast News) - The Labour party has pledged to overhaul the public appointments system after one of the government-appointed commissioners who sets the UK minimum wage joined the board of G4S, the security company facing allegations of systematic violations of migrant workers' human rights. Clare Chapman has served since March 2015 as one of nine commissioners on the government's Low Pay Commission tasked with setting the national living wage, the legal minimum hourly rate. She was appointed as a G4S director in September. - Guardian.
Boris Johnson will announce a range of tax cuts for businesses at the Confederation of British Industry conference, as the business group's director general warned his plans to reduce immigration risked a skills shortage. The prime minister will promise tax relief for the construction and research industries, plus a tax cut for small employers by raising the allowance for their national insurance bills from £3,000 to £4,000. - Guardian.
Saudi Arabia has placed a price tag of up to $1.7tn on its oil producer Aramco, significantly lower than its original target, after lacklustre demand from overseas investors. The kingdom plans to raise between $24bn and $25.6bn by selling a 1.5% stake in the energy giant on the local stock exchange. The proceeds are about a quarter of the $100bn Crown Prince Mohammed bin Salman, commonly known as MBS, had once hoped to reap from the listing. - The Times.
The Civil Aviation Authority is expected to decide at a board meeting on Wednesday whether to approve Heathrow's plan to spend about $3.3bn on planning and early construction for a third runway. There are fears costs could be passed on to airlines and passengers through higher service charges before the project receives planning permission. - The Times.
Former Stobart Group boss Andrew Tinkler is pressing forward with a rescue plan for the struggling haulier Eddie Stobart, which faces a cash crunch and a fight to save 6,500 jobs. Mr Tinkler, who ran the logistics fleet as part of Stobart Group until 2014, is preparing a $75m deal for the trucking company. - Telegraph.
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