Wednesday newspaper round-up: Water firms, Labour tax raid, Boeing, BMW

16th Oct 2024 07:19

(Sharecast News) - The future ownership of the water industry should be decided by a citizens' assembly to remove decision-making from boardrooms and impose democracy on the sector, a private member's bill is to argue. Labour MP Clive Lewis, who in the past has called for water to be put back into public ownership, will introduce his bill on the future of water ownership and management later today. - Guardian

The founder of BrewDog has lashed out at plans by Sir Keir Starmer and Rachel Reeves to raise capital gains tax, ahead of an expected stock market listing that would put him in line for a major windfall. James Watt said a large rise in capital gains tax in the Budget on Oct 30 "will destroy entrepreneurial spirit in the UK and in turn severely damage our economy". - Telegraph

Boeing has filed a registration statement with the US markets regulator that will allow the struggling planemaker to raise up to $25 billion as it faces a continuing strike, production delays and upcoming debt maturities. It was not clear when or how much Boeing will raise via the offering, which is through various debt securities and share classes, but analysts and investors expect the company to raise money before the end of the year. - The Times

British employers have warned that a rise in employer national insurance contributions in the budget could hit hiring and limit pay rises, hurting businesses including pubs, hotels and restaurants. Keir Starmer and the chancellor, Rachel Reeves, have refused to rule out a rise in employer contributions in the budget on 30 October, as part of plans to plug what the government says is a £22bn hole in the public finances left by the previous Conservative government. - Guardian

A European crackdown on petrol cars will trigger a "massive shrinking" of the Continent's vast automotive industry, the boss of BMW has claimed. Speaking at the Paris Automotive Show, Oliver Zipse warned that new rules leading to a ban on combustion engine vehicles by 2035 would put Europe's carmakers at a disadvantage compared to their Chinese rivals. His warning came as France revealed it was pushing for "flexibility" on European Union regulations ahead of their introduction next year. - Telegraph