- Financial Times: The Spac boom will teach investors “a pretty expensive lesson” as the IPO race with blank check vehicles creates “locks in the sky,” warned Jim Chanos, a leading short seller.
- Financial Times: Didi Chuxing, the Chinese ride-hailing company, plans to raise up to $ 4 billion through an initial public offering on the New York Stock Exchange in what would be one of the largest international public offerings.
- The daily telegraph: Matt Hancock should be fired from health minister for breaking Covid rules to have an affair if public anger coincides with backlash against Dominic Cummings ‘trip to Barnard Castle, cabinet ministers have warned.
- Financial Times: Investors invested $ 54 billion in bond funds specializing in environmental, social and governance issues in the first five months of 2021, although concerns about potential greenwashing have escalated.
- The times: A co-founder of Ocado made a “substantial payment” to resolve a dispute with online grocer FTSE 100 on a case involving corporate espionage lawsuits.
Business and economy
- Daily mail: According to Andy Haldane, the economy has fully recovered from the coronavirus recession after a “very powerful” resistance.
- The daily telegraph: US inflation rose even further last month, raising fears that the world’s largest economy is about to overheat as extremely low interest rates and extravagant spending plans by Joe Biden fuel growth.
- The guard: The country is facing a summer of food shortages compared to a string of “rolling blackouts” from the loss of 100,000 truck drivers to Covid and Brexit, industry leaders have warned.
- The daily telegraph: Used car prices are rising at “unprecedented” rates as the perfect storm of wealthy consumers and the scarcity of new cars drive the market up.
- The times: The construction companies listed in London were strengthened yesterday and set new records after President Biden finally closed a huge deal on infrastructure spending after months of negotiations.
- The daily telegraph: Howard Panter, co-founder of the world’s largest commercial theater company, said the situation in the West End was “unbearable” and that a large number of companies were on the verge of collapse.
- The guard: Microsoft will no longer force companies to reduce their earnings if they want a place in the Windows App Store, the company has announced.
- The times: Gas prices trade at 13-year highs as concerns about Russian supplies to Europe exacerbate the tense market after the cold start of the year.
- The times: Oil prices were on their way to their fifth consecutive weekly gain last night as further market tension is expected.
- The guard: The environmental demands of a newly agreed EU agricultural subsidy policy of EUR 387 billion were described as a “paper reality”, although it was promised to spend a quarter of their budget on “ecosystems”.
- The times: The chairman of Toshiba was voted out by shareholders in backlash against the Japanese conglomerate’s collusion with the government to suppress foreign investor interests.
- The guard: The Biden government imposed trade bans on five Chinese entities on allegations of forced labor in Xinjiang, the White House said Thursday, citing the G7’s recent pledge to clean up the global supply chain.
- The guard: Amazon and Google are under investigation by UK competition authorities over concerns that tech companies have not done enough to address the widespread problem of fake reviews on their websites.
Share tips, comments, and bids
- The Daily Telegraph (Questor Stock Tips): STOP Jet2; STOP RWS.
- The daily telegraph: Ultra Electronics, which specializes in equipment for missiles and marine systems such as sonar, prepares to take over an offer from American company Advent International after secret talks about a smaller deal break down.
- Daily mail: António Horta-Osório is planning a revision of the Credit Suisse affected by the scandal, which could lead to a merger with arch-rival UBS.
- Daily mail: Clayton Dubilier & Rice said it could increase its offering for FTSE 250 members UDG health service from £ 2.6bn to £ 2.7bn – or from £ 10.23 per share to £ 10.80.
- The times (comment): Our Venture Capital Chancellor has good ideas, but success depends on implementation.
Saturday newspapers: Spac boom creates “castles in the sky”