Below are the key morning press headlines, featuring the The Times, The Telegraph, The Daily Mail & more - see the full Press section here.
Britain’s largest trade union is seeking assurances over about 2,600 manufacturing jobs at Vauxhall after the carmaker’s parent company, PSA, announced a £38bn (€45bn) merger with Fiat Chrysler that will create the world’s fourth-biggest carmaker. Vauxhall’s workforce includes 1,100 staff at its Ellesmere Port plant in Wirral and around 1,500 people making the Vivaro van in Luton. PSA, which also owns Peugeot, and Fiat Chrysler confirmed there would be no plant closures as part of €3.7bn in cost savings targeted from the deal, but the Unite union immediately raised concerns. “Unite will … be seeking guarantees about new investment to ensure that the company’s UK factories are able to continue to build high-quality cars and vans to meet the challenges of the transition to electric vehicles,” said Unite’s national officer Des Quinn. - The Guardian
Blackstone is putting a £500 million bet on demand for e-commerce and delivery services growing in Britain. The American private equity group is poised to buy Hansteen Holdings (HSTN) . It said that the acquisition was an opportunity to expand Mileway, its European last-mile logistics property company, in Britain. Last-mile properties are typically used by e-commerce companies such as Amazon as the final storage location for a product before it is delivered. Blackstone has built up an €8 billion portfolio of such assets across Europe. - The Times
NMC Health (NMC) has branded accusations of mismanagement and balance sheet manipulation made by US-based short seller Muddy Waters ‘baseless and misleading.’ NMC Health, which saw over £1.6billion wiped off its value on Tuesday, said it will ‘respond in detail in due course’, while reaffirming its full year outlook and announcing a fresh share buyback scheme. NMC Health, which was founded by UAE-based billionaire Bavaguthu Raghuram Shetty, said Muddy Waters’ claims ‘appear principally unfounded’ in a stock market update today. - The Mail
Playtech (PTEC) has come under further pressure after an activist investor raised concerns about its corporate governance. It is understood that Springowl, a New York-based hedge fund, has privately urged Playtech to cut all commercial ties with its founder, Teddy Sagi, and asked the company to draw up a succession plan for its chief executive. Springowl’s governance concerns increase the pressure on Playtech, which faces the prospect of an investor backlash over its bonus plans at a shareholder meeting today. - The Times
Versarien (VRS) edged higher after being selected to participate in a project led by Airbus. The graphene flagship programme is funded by the European Commission, and helps companies work together to put emerging technologies to use. Versarien will focus on using graphene, an extremely strong substance formed from carbon, to make thermoelectric ice protection systems for aircraft. - The Mail
The founder of investment platform AJ Bell (AJB) insisted he remains committed to the business after selling £23m worth of shares to raise “a few quid to go and play with”. Andy Bell, chief executive of the firm he co-founded in 1995, reduced his stake from 25% to 24% and will remain the company’s largest shareholder. Shares in AJ Bell have more than doubled in value since the fund shop floated on the London Stock Exchange in December 2018. The surge means Mr Bell’s remaining stake is worth about £415m. One industry analyst described the shares’ current valuation as “stratospheric”. - The Telegraph