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Monday newspaper round-up: Aerospace industry, TalkTalk, Debenhams

Mon 26 October 2020 07:33 | A A A

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(Sharecast News) - The global aerospace industry has endured its worst quarter ever with record low orders for new aircraft and 12,000 UK jobs already lost or at risk because of the collapse in travel caused by the coronavirus pandemic. Aircraft manufacturers received only 13 orders in July and August, according to the aerospace and defence lobby group ADS. No orders were placed in September. That compares with 152 in the same period in 2019. - Guardian

An estimated 6m small businesses in the UK supporting 16.6m jobs are in a financially precarious position as a result of the pandemic, a London business school has warned. Nearly two-thirds of entrepreneurs felt their business might not survive the pressures of Covid-19, while more than half predicted they would run out of money within the next 12 months, according to the new study from King's Business School. - Guardian

Ministers struck a deal worth up to £119m with one of the world's biggest marketing companies for a Covid campaign three weeks before the country went into a national lockdown, official filings show. The Cabinet Office signed the contract with London-based OMD Group, a subsidiary of US ad titan Omnicom, on March 2 - the same day Prime Minister Boris Johnson attended his first pandemic-related Cobra meeting - as the Government began to gear up its response to the crisis. - Telegraph

Britain is highly unlikely to secure a US trade deal unless it first strikes an agreement with the European Union, a former top American official has warned. A prized tie-up between London and Washington will be off the table if talks with Brussels break down, according to former assistant US trade representative Barbara Weisel. - Telegraph

Since starting Carphone Warehouse three decades ago from the boot of a car on Marylebone Road in central London, Sir Charles Dunstone has been on the lookout for the next promising investment. Thus far, Talktalk, an offcut from his retail empire, has been his most lucrative. Sir Charles, who has an estimated fortune of £680 million, manages most of his other investments through Freston Ventures, a vehicle that he co-founded with Roger Taylor, a long-term associate and a non-executive director of Talktalk. The fund has formed joint ventures with the Five Guys burger and Mod pizza chains, has backed private equity firms, worked in partnership with investment funds and taken direct stakes in challenger brands such as Strike, the online estate agent. - The Times

Doubts about the future of Debenhams and its 12,000 workers are growing after suitors were given until the middle of this week to make a £300 million rescue bid for the department stores chain. Prospective buyers, which include Mike Ashley's Frasers Group, have been told to make a binding commitment by the close of business on Wednesday, or walk away. - The Times

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