Sunday newspaper round-up: BP, Defence, Tesla

(Sharecast News) - Hedge fund Elliott wants BP to let go its petrol stations and move aggressively to improve its performance. BP management is preparing for a push in that regard by the activist investor. Elliott has already expressed its dissatisfaction with BP boss, Murray Auchincloss's move away from green projects and £10bn in additional investment in oil. - The Financial Mail on Sunday Britain's largest defence companies are shifting to a war footing amid Europe's race to rearm. BAE Systems, Babcock, Leonardo UK and Chemring have all said that they stand ready to meet the "unparalleled" surge in demand. Among the measures that they may adopt are round the clock production, weekend shifts and investments to boost capacity. - The Financial Mail on Sunday

Investors are considering alternatives to Tesla after the carmaker's boss dubbed German far-right party Alternative fur Deutschland the country's "only hope". Figures published on Thursday revealed that registration of Tesla cars shrank by 76% to 1,429 in February, a month in which overall EV registrations jumped by 31%. - Guardian

Virgin Group, which is owned by Richard Branson, is looking to raise £700m to finance its plans for cross-Channel rail services to compete with Eurostar. The high-frequency service would start running by the end of the decade. However, Virgin said that it was not yet committing to a launch just yet. - Guardian