Thursday newspaper round-up: 'Buy EU', BrewDog, Morgan Stanley

(Sharecast News) - The European Commission has proposed a "Buy EU" plan to boost domestic low-carbon industries and help the continent compete against China. The commission published a draft regulation - called the Industrial Accelerator Act - on Wednesday, setting demands for EU-made and low-carbon content on bodies spending public money. The rules mark a big shift in economic thinking from Brussels, long a bastion of open markets. - Guardian The co-founder of BrewDog, James Watt, met with short shrift from small investors who have been left empty-handed by the company's sale for just £33m, after he admitted to "many mistakes". Watt issued a mea culpa via the professional social networking site LinkedIn, a platform he has regularly used to espouse political views, including complaints about the level of tax he is asked to pay. - Guardian

Rachel Reeves's plan to raise the minimum wage for young people will push up the cost of hiring them by almost £7,000. Analysis by the Institute for Fiscal Studies (IFS) warned that employers faced a 40pc real increase in costs under Labour's proposals to scrap the youth rate of the minimum wage. The think tank laid bare the extra burden on business caused by Labour's manifesto pledge to end what it has branded "discriminatory age bands". - Telegraph

A London-listed oil services company has evacuated staff from the Persian Gulf amid escalating conflict in the region. Gulf Marine Services (GMS) received instructions from one of its clients in the Middle East to evacuate staff from "liftboats", giant ships equipped with legs that can be extended to the seafloor, as a "safety precaution". The company operates a fleet of 14 of the liftboats. Each ship typically carries 150 crew. - Telegraph

Morgan Stanley is laying off about 2,500 employees, despite reporting record revenue last year. The banking giant is planning to cut about 3 per cent of its global workforce across its investment banking and trading, wealth management and investment management divisions. The lay-offs were first reported by The Wall Street Journal. - The Times

The competition regulator has announced that it is to launch a full market study into the £8.4 billion private dentistry market. The Competition and Markets Authority (CMA) said its study would look at both essential care and cosmetic treatments and it was seeking feedback from consumers and dental professionals, including on how hard it is to find a dentist, understanding of prices and knowing where to go if something goes wrong. - The Times