Sunday newspaper round-up: Trade, AstraZeneca, Tax hikes

(Sharecast News) - Brussels is heading into a critical week, with just two to go to clinch a trade agreement with the US or face a 50% levy on its exports. At stake are €1.6trn in transatlantic trade. Germany is down as favouring a quick deal akin to that inked by the UK so as to avoid a full-blown trade war. Paris on the other hand believes that the EU should hold out if too quick a deal is "imbalanced" - Guardian UK firms with a combined value of over half a trillion pounds may be set to leave the London stock market. They include at least 10 of the largest FTSE 100 components with many eyeing a listing on Wall Street whilst others may be taken over. Reports during the past week that AstraZeneca might be headed to New York were but the latest such news. British American Tobacco may also be looking at a possible exit strategy over the next three years, according to experts. - Financial Mail on Sunday

Tax hikes by the Chancellor have cost 69,000 people at pubs, restaurants and hotels out of work. And if her hike to national insurance contributions is not reversed, as many as 200,000 persons are likely to be let go, according to hospitality industry leaders. The contributions were raised in last October-s budget. Over the preceding year, under the last Conservative government, the sector generated 18,000 jobs. - The Sunday Times

Air cargo rates have rocketed as businesses try to get ahead of Donald Trump's 9 July deadline for concluding tariff agreements. Since early May, the cost of sending goods from south-east to the States has shot up by 11% to $5.17 (£3.79) a kilogram. During the previous week, the US president had threatened to set tariffs of between 60-70% and 10-20%. - Sunday Telegraph