Thursday newspaper round-up: migrants, StanChart, HS2, steelmakers, Santander UK

LONDON (ShareCast) - (ShareCast News) - EU leaders agreed late on Wednesday to spend more than €1bn of aid across the Middle East and Africa in a bid to stem the flow of migrants into Europe, as they attempted at a high-profile summit to put an end to a bitter fight over how to respond to the burgeoning refugee crisis. In a communiqué, leaders said they would pump "at least" an extra €1bn into funding for the UN's refugee and food programmes in the region, and vowed to turn their focus on to reinforcing the EU's porous borders. - Financial Times Standard Chartered (HKSE: 2888.HK - news) has awarded Bill Winters shares worth more than £6m to compensate the bank's new chief executive for income he forfeited by leaving the City of London (LSE: CIN.L - news) hedge fund he founded. The practice of buying new executives out of previous remuneration schemes at the companies they are leaving is commonplace in finance. But the upfront payment to Mr Winters comes as StanChart (HKSE: 2888-OL.HK - news) shares have hit new six-year lows. - Financial Times Britain's steelmakers are urging the government to rescue the industry from a "perfect storm" that has pushed one of the UK's largest steelworks to the edge of closure. UK Steel, the industry lobby group, said its members were facing their most difficult situation since privatisation 27 years ago after battling cheap imports, which are pushing down prices to unsustainable levels. The threatened closure of the largest steelworks on Teesside has sent shockwaves through the industry, leading unions and employers to call on the government for extra support. - Guardian George Osborne will open up the bidding process to build HS2 to Chinese firms and investors on Thursday, offering contracts worth £11.8bn to build the high-speed rail line. Osborne will open the competition at an event in Chengdu aimed at wooing Chinese investors to back HS2 and other major UK infrastructure projects, particularly across the north of England. - Guardian The crisis at Volkswagen (Other OTC: VLKAF - news) that has sparked fears hundreds of thousands of British cars could be flouting emissions controls laws has sent shockwaves through the motor dealer industry. The boss of one of Britain's biggest car chains says the company is fielding enquiries from worried VW buyers, while one independent dealer said the growing scandal could drive some companies out of business. The VW revelations could have a long-term impact on the motor industry, according to independent car dealer Prestige Diesels. - The Telegraph Santander UK (LSE: 44RS.L - news) will not float on the stock market for the foreseeable future, the Spanish group told investors in London. The banking giant has undertaken a capital raising round and the UK arm is contributing more to the bottom line than any other unit, leading executive chairman Ana Botin and her team to quell plans to sell the business. - Telegraph EDF (Paris: FR0010242511 - news) is working on an improved design for its nuclear reactor that is easier and cheaper to build, but it will not be ready in time to be used at Hinkley Point or Sizewell, according to the company's chief executive. Jean-Bernard Lévy said that the French state-controlled energy giant was working on plans for a revised design for its 1.65 gigawatt European Pressurised Reactor. - The Times An aggressive activist hedge fund has gatecrashed Lone Star's proposed £700 million takeover of Quintain, claiming that the offer "substantially undervalues" the property developer. In a move that could derail the takeover of the property group, which is developing large tracts of land in Wembley, west London, Elliott Capital Advisers has taken control of nearly 68 million shares using a controversial contracts-for-difference arrangement. - The Times