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Monday newspaper round-up: Google, Mike Ashley, global dividends

By Michele Maatouk

Date: Monday 20 May 2019

Monday newspaper round-up: Google, Mike Ashley, global dividends

(Sharecast News) - Google has suspended Huawei's access to updates of its Android operating system and chipmakers have reportedly cut off supplies to the Chinese telecoms company, complying with orders from the US government as it seeks to blacklist Huawei around the world. In a fresh blow to Huawei, Google said it was complying with Trump's executive order and was reviewing the "implications", after Reuters initially reported the story. - Guardian
Mike Ashley's Sports Direct group is trying to muster support for a legal challenge to a Debenhams restructure package that was given the green light this month. Creditors have until 6 June to challenge two company voluntary arrangement (CVA) deals under which Debenhams plans to to close at least 22 stores of the group's 166 UK stores and reduce rents on dozens more. - Guardian

Global dividends rose to a first-quarter record as shareholder payouts continued to grow on the back of strong corporate earnings and in spite of concerns about an economic slowdown. Dividends from the world's 1,200 largest companies, which account for 90pc of global dividends, rose 7.8pc against the first three months of last year as companies continued to reward shareholders while fears of a global trade war mounted, according figures from Janus Henderson. - Telegraph

A British start-up seeking to bring an end to payday loans has received £40m in new cash from backers including an early investor in the now-collapsed lender Wonga. Wagestream, which has developed technology to give workers access to their wages at any day during the month for a small fee, rather than making them wait for a bulk monthly payment, raised £15m from venture capital firms Balderton and Northzone. It also secured a £25m funding facility from lending bank Shawbrook. - Telegraph

Labour's proposed employee ownership scheme would have raised about £7 billion for the state last year, drawing comparisons with Gordon Brown's pension tax grab in 1997. John McDonnell has promised to establish an "inclusive ownership fund" into which all UK-headquartered companies, both public and private, with more than 250 staff would have to transfer 10 per cent of their shares. The fund will also collect dividend payments by the companies. - The Times

Banks and other credit providers are facing an increase of up to £100 million in the levy they pay to fund advice services for people who get into debt difficulties. Sir Hector Sants, chairman of the Money and Pensions Service (Maps), said that he would almost certainly be pushing ahead with plans to demand an increase. - The Times



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