Monday newspaper round-up: Glencore, HSBC, Private sector wages

12th Oct 2015 06:48

(ShareCast News) - Glencore is preparing to unveil asset sales in Australia and Chile, prompting a halt in trading of its Hong Kong listed shares on Monday morning. The embattled miner, which has seen its shares whipsaw amid the slump in commodities and China slowdown, told the Hong Kong Exchange it would soon publish "information regarding certain of its assets in Australia and Chile which constitutes inside information". - Financial TimesHSBC is facing a behind-the-scenes push for reform from a cadre of institutional shareholders concerned about the way the business is being run and frustrated by the underperformance of Britain's biggest bank. Because of the disparate nature of HSBC's shareholder register, concerned investors had been trying to coalesce around one fund manager to spearhead the group. However, a leading investor declined to take that role. - The TimesAnalysis by the Resolution Foundation suggests that private sector wages rose at an annual rate of up to 3.6% in the three months to August, due to rising wages and flat living costs. That would be the fastest growth since 2001 if it is confirmed in official figures to be published on Wednesday. - The GuardianCountries that try to spend their way out of crisis risk becoming stuck in a permanent malaise, according to the head of the Organisation for Economic Co-operation and Development (OECD). Angel Gurria said central banks were running out of firepower to boost economies in the event of another sharp slowdown, while governments had limited space to ramp up spending. - The Daily TelegraphTesco is under renewed pressure over its £263m accounting scandal after a group of American pension and investment funds launched a multimillion-dollar legal action against it. The legal action centres on Tesco's overstatement of profits in September last year, which plunged the retailer into crisis. - The Times