Friday Papers: Announcing a more generous UK job support program

Top stories

  • Financial Times: Rishi Sunak pledged to provide around £ 11 billion of additional support to jobs and businesses over the next six months.
  • The daily telegraph: Rishi Sunak’s rescue plan will help protect 500,000 jobs in the hospitality industry, but will not prevent a winter crisis in the ailing industry, the bosses said.
  • The times: British Airways owner IAG fell to a loss of € 1.3 billion in the third quarter, warning that it will not break even in the final months of the year.
  • Financial Times: The $ 4 billion merger between Viagogo and StubHub has been suspended in the UK following an in-depth competitive investigation.
  • Financial Times: Goldman Sachs’s Malaysian subsidiary pleaded guilty to a bribe when the bank closed a record $ 2.9 billion settlement with regulators over the 1MDB money laundering scandal.
  • Financial Times: Spanish airport operator Aena is bowing to pressure from UK billionaire hedge fund manager Chris Hohn and giving shareholders an annual vote on its efforts to combat climate change.

Business and economy

  • Daily mail: According to its chief economist Andy Haldane, the Bank of England is not ready to cut interest rates below zero.
  • The times: UK household wealth has suffered the worst damage this year in one of the largest economies in the world.
  • The times: Factory activity has continued to decline this month, albeit at the slowest pace since March, as production appears to be fending off a surge in coronavirus cases.
  • Daily mail: said a downturn in the home services business and continued tougher bank lending criteria resulted in revenue falling significantly for a second straight quarter.
  • The daily telegraph: The oil industry was hit hard by a collapse in demand triggered by Covid-19. Energy titans like Shell and BP believe the pandemic has accelerated a long-term switch to clean electricity.
  • The daily telegraph: Gap announced to employees this week that the company may end its business in Europe as numerous stores may close in the UK.
  • The times: Coca-Cola boss has claimed the carbonated beverage maker is on the right track after recovering from a decline in sales in the second quarter to beat forecasts for the past three months.
  • Financial Times: The French luxury groups Hermès and Kering have achieved sales forecast for the third quarter despite the pandemic.
  • The times: The Daily Mail and General Trust, the owners of the Daily Mail, welcomed a surge in advertising revenue and sent their shares in newspaper publishing significantly higher.
  • The times: Booming demand for disinfection services to fight the spread of Covid-19 helped Rentokil achieve strong growth in the third quarter.
  • The guard: Diageo will further increase stakes in the burgeoning low-alcohol and soft drinks sector next week by introducing a non-alcoholic version of Guinness in the UK and Ireland.
  • The times: National Savings & Investments has proposed lowering interest rates further and closing products after savers invested a record nearly £ 40 billion during the lockdown.
  • Daily mail: London-based landlord Shaftesbury has reached out to investors to raise £ 297m as it struggles to weather the coronavirus crisis.
  • The times: Glass Lewis, a leading shareholder advisory group, has raised “serious concerns” about a new incentive system at Sensyne Health, the healthcare technology company.
  • The daily telegraph: The head of Unilever is confident that a proposed Dutch “exit tax” will be deemed illegal as the company achieved better-than-expected sales in the third quarter.
  • The daily telegraph: According to Airbus, emission-free large passenger aircraft that run on hydrogen will be technically feasible in five years.

Share tips, comments, and bids

  • The Times (Tempus Share Tips): Buy Relx; Buy polymetal.
  • The daily telegraph: KPMG is considering a possible sale of its restructuring arm as the big four accounting firms step up efforts to transform their business amid regulatory and economic pressures.
  • The daily telegraph: According to insiders at the German sportswear giant, Adidas is considering a sale of its Reebok brand.
  • The times: Koch Industries, the second largest privately held company in America, has made its first investment in a publicly traded UK company by buying a 10% stake in Victoria, the carpet maker.
  • The times (comment): The hotels are monotonous, the food boring and lonely, but I miss business trips.
  • Financial Times (comment): The pandemic has exposed weaknesses in the UK model; The country needs a more effective solution for a future after Brexit.

Friday Papers: More Generous UK Jobs Support Program Announced

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