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20 Sep 2020 | 23:00

Sunday newspaper round-up: Coronavirus, UK taxes, Wheaton Precious Metals

(Sharecast News) - Britain's most senior government scientists will make a direct appeal to the public on Monday, warning that the coronavirus trend is "heading in the wrong direction" and "a critical point has been reached". As Downing Street considers imposing nationwide curbs to contain a sharp jump in cases, the chief medical officer for England, Chris Whitty, will make a rare live televised address alongside the UK chief scientific adviser, Sir Patrick Vallance. - Guardian The American software giant buying Britain's biggest technology company is willing to make legally-binding commitments to keep its tax revenues in the UK, The Mail on Sunday can reveal. Nvidia, which is buying Cambridge-based chip designer Arm in a controversial £31billion deal, makes vast profits outside the US but only pays a tiny fraction in taxes. Analysis by the think-tank Tax Watch found that Nvidia paid taxes worth just 3 per cent of the $6.15billion (£4.76billion) in profits it has made overseas since 2015. - Financial Mail on Sunday

One of the world's largest precious metals companies is set to list in London, marking potentially the largest mining listing since Glencore's blockbuster float in 2011. Wheaton Precious Metals, valued at C$30bn (£18bn) on the Toronto stock exchange, will announce plans tomorrow for a secondary listing on the main market of the London Stock Exchange. The business, which also has a dual listing in New York, funds miners' projects in return for rights over metals, providing an alternative source of funding rather than equity or debt. - Sunday Telegraph

Rolls-Royce is in talks with sovereign wealth funds, including Singapore's GIC, as it tries to repair its threadbare balance sheet. The jet engines giant has been mulling ways of raising cash, including selling its ITP Aero division, which makes parts for the Eurofighter Typhoon, and its Bergen diesel engines business. It has also been working on a plan to raise funds, such as via a rights issue or placing. That could include raising £2.5bn from investors, including Singapore's sovereign wealth fund, the Financial Times reported. - Sunday Times

A technology testing company to corporate giants BT and Facebook is poised to raise £22.5m through a listing on London's junior market. Calnex plans to float on Aim at the beginning of October, with an oversubscribed placing valuing the company at £42m on admission. The business, based in West Lothian, Scotland, designs and manufactures testing equipment for telecoms companies looking to check the performance of their networks. It hopes to take advantage of the rollout of 5G, the next-generation mobile network that is up to 20 times faster than 4G. - Sunday Telegraph

China has a stronghold on the lithium-ion battery supply chain, according to a new market report. Along with 72GWh of electricity storage demand, China also retains an estimated 80 per cent of the world's raw material refining, 77 per cent of cell capacity and 60 per cent of component manufacturing. The study claimed the US and Europe are both well positioned to close the gap in the next five years, but warned that Britain could slip behind by 2025. - Financial Mail on Sunday

Commodity traders are betting that Europe's carbon futures will soon catapult higher as Brussels drains the glut of carbon allowances on the market. Prices are likely to smash the all-time record of €30 a tonne within months, profoundly reshaping the EU's energy architecture. The killer detail in the European Commission's 140-page climate impact report for 2030 released last week is a "one-off" rebasing of its cap-and-trade Emissions Trading Scheme (ETS) to dry up excess permits, followed by a faster pace of tightening from next year onwards. - Sunday Telegraph

Downing Street has taken control of the upcoming review of gambling legislation, due to be launched within weeks, amid a growing appetite for sweeping reform of the industry from Boris Johnson and his closest advisers. The Department of Digital, Culture, Media and Sport (DCMS) is expected to kick off the long-awaited review this autumn but well-placed sources said Boris Johnson and his closest advisers were now steering the plans. "The PM just sees it as people being exploited and it's not him," said one MP with intimate knowledge of discussions within Whitehall. - Guardian

A Canadian property boss is one of the contenders for the chief executive's job at the troubled owner of the Bullring shopping centre. Rita-Rose Gagné, president of growth markets at Ivanhoé Cambridge, a subsidiary of Canadian pensions giant Caisse de Dépôt et Placement du Québec, is understood to be in the running to succeed David Atkins at Hammerson. - Sunday Times

Thousands of British Airways cabin crew have voted to accept pay cuts as the firm battles to survive. The airline and its parent company, IAG, are on major drives to bolster their balance sheets. IAG is trying to raise €2.74billion (£2.5billion) on the stock market while BA has outlined plans to cut thousands of jobs. - Financial Mail on Sunday

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