Monday newspaper round-up: Tesco, Migrants, Debt ratios

14th Sep 2015 07:18

(ShareCast News) - The entire board of Tesco has bought less than £350,000 of shares in the supermarket chain, and chief executive Dave Lewis has yet to buy any, despite being in charge for a year. The lack of share purchases by Lewis and Alan Stewart, the finance director, has raised eyebrows among corporate governance pressure groups and shows that the Tesco executives have not been willing to back their turnaround plan by putting their own money into the retailer. - The GuardianGermany introduced controls on its frontier with Austria last night as the unprecedented influx of migrants pushed the European Union's passport-free travel zone to the brink of collapse. In a blow to the EU's Schengen borderless area, Thomas de Maizière, the German interior minister, announced the move as a temporary response to the crisis. - The TimesDebt ratios have reached extreme levels across all major regions of the global economy, leaving the financial system acutely vulnerable to monetary tightening by the US Federal Reserve, the world's top financial watchdog has warned. The Bank for International Settlements said the wild market ructions of recent weeks and capital outflows from China are warning signs that the massive build-up in credit is coming back to haunt, compounded by worries that policymakers may be struggling to control events. - The Daily TelegraphChallenger banks have urged the competition watchdog to have a "major rethink" about high street giants Lloyds and RBS as part of their probe into the current account and small business banking markets. The CMA's investigation is believed to lack rigour and is unlikely to lead to any significant changes in the market. - The Daily TelegraphEEF, one of Britain's leading employers' groups, has urged the government to scrap the carbon price floor and other green taxes, following on from a series of ministerial moves to slash subsidies on wind and solar schemes. The demand for more cuts comes as a high profile green crowdfunding scheme, the Trillion Fund, said it would no longer be loaning money to renewable energy projects because the government had "rocked investor confidence". - The Guardian