Thursday newspaper round-up: Greenland, Morrisons, Cisco Systems

13th Aug 2026 07:19

(Sharecast News) - Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's imperialist threats, tensions have been rising on Greenland's eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a "strong warning" from the government. - Guardian

Enough new coalmining projects were proposed last year to increase global supplies by 2.5bn tonnes a year, an increase of 11% from the year before, even as demand for coal plateaus, according to a new report. Global Energy Monitor, an NGO, found that India ignited a rise in new coalmine proposals in 2025 despite a global slowdown in the number of mine openings because of falling demand for the fossil fuel. - Guardian

The founder of a collapsed shadow bank is battling to stave off the threat of bankruptcy as lenders step up efforts to recover their debts. Paresh Raja has launched a legal claim to prevent administrators of Market Financial Solutions (MFS) from chasing him for repayment. Lawyers at Mishcon de Reya on Tuesday applied to the High Court to set aside a so-called statutory demand made by insolvency experts who are representing some of Mr Raja's creditors. - Telegraph

Donald Trump is eyeing major tax cuts for investors to revive the US economy and boost his ratings before the midterm elections. The US president is looking at indexing capital gains tax (CGT) so the levy is only charged on profits made above inflation, according to Larry Kudlow, a former adviser to Mr Trump. He is also considering raising the tax-exempt threshold for house sales. - Telegraph

The debt facing Morrisons has risen sharply after the supermarket chain was left with fresh lease liabilities following its private equity takeover. Net debt at Market Topco, the ultimate parent company of Wm Morrison Supermarkets, increased to £7.52 billion in the year to the end of October, up from £7.07 billion the previous year, as rising lease liabilities weighed on its balance sheet. - The Times

Cisco Systems forecast revenue for the 2027 financial year above Wall ​Street expectations on Wednesday, signalling ‌confidence that strong demand for its artificial intelligence networking gear will continue to ​power growth. The technology company, based in California, has benefited from hyperscale cloud providers and enterprises building out their infrastructure to ​handle the complex demands of ​generative AI. - The Times