Wednesday newspaper round-up: World Bank, Brexit, Shell, Amazon
Financial markets are complacent about the risks of sharply higher interest rates that could be triggered by better than expected growth in the global economy this year, the World Bank has warned. The Washington-based organisation said that much of the rich west was running at full capacity as a result of a broad-based upswing in activity, but were now vulnerable to a period of rising inflation that would prompt action from central banks. – Guardian
Philip Hammond and David Davis have made a direct appeal to German business leaders to help them forge a Brexit deal to secure the future of Britain’s financial services. The chancellor and Brexit secretary travel to Germany on Wednesday on a charm offensive they hope will shift the EU’s implacable opposition to services being included in a final deal. – Guardian
Billionaire industrialist Sanjeev Gupta's spending spree shows no sign of letting up, after his offer for the largest aluminium producer in Europe was accepted by Rio Tinto. According to sources, the deal, which was first reported by Metal Bulletin, could be announced as early as tomorrow, although this may be delayed should any unforeseen circumstances occur. – Telegraph
The growth of Amazon’s streaming service has hit a plateau, according to an independent study, putting the second series of its big budget car show The Grand Tour under pressure to spark new interest. A report from Barb, the industry-backed broadcasting data authority, said that in the third quarter of last year Amazon’s streaming service stopped growing at just shy of 4m subscribers. The figures, based on a regular major survey of households, cover a period prior to the return of The Grand Tour in December. - Telegraph
Staff at Royal Dutch Shell have been charged with the theft of industrial volumes of diesel from the company’s biggest refinery after raids in Singapore last weekend. The Anglo-Dutch oil major confirmed that eight present or former employees of Shell Eastern Petroleum, its Singaporean subsidiary, were among eleven men charged in connection with the alleged theft from its Pulau Bukom site. – The Times
Its bricks and mortar charity shops have been a feature of the high street for decades, but Oxfam has shown that it can move with the times and embrace the internet. Sales at the Oxfam online shop jumped by 33 per cent in the Christmas trading period, as shoppers looked for gifts that help to fight poverty. – The Times