Thursday papers: UK and EU resume trade deals after Brexit

Top stories

  • Financial Times: The pound saw its biggest rally since March after the EU and the UK agreed to intensify the closing stages of the Brexit talks.
  • The daily telegraph: Rishi Sunak was warned of a tax robbery on millions of earners after borrowing rose again in September as a second wave of Covid hits emerged.
  • The times: Tesla said last night that it intends to meet an ambitious target of shipping half a million cars this year when it announced its fifth straight quarterly profit.
  • Financial Times: The Pennsylvania Public School employee retirement system has frozen new investments at Apollo Global Management as concerns mount over Founder Leon Black’s relationship with late pedophile Jeffrey Epstein.
  • Financial Times: PayPal will soon offer support for cryptocurrencies, including at the checkout, as more traditional financial services companies revisit virtual currencies.
  • Financial Times: Purdue Pharma has reached an agreement with the US Department of Justice that may be worth more than $ 8.3 billion related to its role in sparking the US opioid epidemic.

Business and economy

  • The guard: Rishi Sunak is expected to announce its fourth business support package in as many months.
  • The daily telegraph: Ending government incentives and vacation programs too early would push economies back into recession. The International Monetary Fund has warned the UK and European governments.
  • The times: C&C Group, which owns beverage wholesaler Matthew Clark, announced that it has returned to profit after reopening the pub and bar sector.
  • Financial Times: Nestlé expects full year growth to outperform forecasts given strong household demand for pet food, convenience foods and well-known brands in the pandemic.
  • Daily mail: Wealth management group Quilter added to its assets under management despite the pandemic, rumble about Brexit and a platform migration earlier this year.
  • The times: The rental collection rate for warehouse developer Segro had risen to 85% of the billed rent of £ 61 million. Another 13% has been set aside but is expected to be withdrawn by the end of the year.
  • The times: Avast, the developer of FTSE 100 security software, reported adjusted sales up 2.6% to $ 226 million between July and September and increased underlying profit by 3.3% to $ 126 million.
  • Daily mail: More than £ 12 billion was wiped off the value of Netflix last night after fewer customers joined the streaming service in the summer.
  • The guard: Bookmaker William Hill has warned that empty stadiums derive their winnings from a series of unpredictable outcomes in games played behind closed doors.
  • The times: According to the IPA Bellwether Report, major advertisers cut spending further in the third quarter to help weather the economic downturn.
  • The guard: BP’s market value fell below 200p a share for the first time since 1994, with investor confidence in the future of the oil industry being shaken by the coronavirus pandemic.
  • The times: Unsecured creditors in the group behind Bensons for Beds and Harveys have suffered heavy losses after suffering an estimated £ 240 million shortfall after the furniture dealers entered the administration.
  • The daily telegraph: Struggling Edinburgh Woolen Mill will postpone the appointment of administrators as chiefs to deal with the logistical chaos in Wales.
  • Financial Times: Hong Kong’s Cathay Pacific will cut nearly a quarter of its workforce and shut down its regional Cathay Dragon brand as the airline tries to survive the chaos in the travel industry.
  • The daily telegraph: Quibi, the well-funded short video app that turned out to be Hollywood’s answer to TikTok and YouTube, is closing to the public just seven months after it launched.
  • The guard: Manchester United lost £ 118.1m to £ 509m in revenue for the fiscal year ended June, with the impact of the coronavirus pandemic a major contributor.
  • The times: Efforts to return Metro Bank to profit could be scaled back as the challenger bank said its capital position was below excess buffer levels.
  • Daily mail: Anglo-Mexican mining company Fresnillo said the impact of the coronavirus pandemic on its mines in Mexico forced it to lower its gold production forecasts again this year.
  • The times: Asda’s new owners are seeking a chairman and independent directors for their petrol station empire to address governance concerns.
  • The daily telegraph: Jony Ive, the British designer behind the iPod and iPhone, joined Airbnb as a consultant, his first major project since he left Apple last year.
  • Daily mail: Small businesses celebrate a “big win” after insurer RSA decides to pay policy holders for business interruptions.
  • The guard: Official figures have highlighted the huge financial gap in the UK caused by the coronavirus crisis. Every third household suffered cuts in income.
  • The daily telegraph: The Welsh government stands ready to nationalize its railways after rescue talks failed to reach a privately run deal with the current operator and Covid continued to pound public transport.

Share tips, comments, and bids

  • The Times (Tempus Share Tips): BUY Netflix; BUY Caretech Holdings.
  • Daily mail: Specialty insurer Pension Insurance Corporation has agreed to buy out the Old British Steel Pension Scheme and take responsibility for more than 30,000 employee pension funds.
  • The daily telegraph: Allied Universal has hired investment bankers to advise on a possible offer for G4S.
  • The times: KPMG is moving its Makinson Cowell investor advisory business to Lazard.
  • The times: Some of the largest Chinese tech companies have asked Beijing regulators to block the US $ 40 billion acquisition of Arm Holdings by Nvidia, the American semiconductor company.
  • Financial Times: Iberdrola added more than $ 8 billion to its acquisition streak this year to purchase PNM Resources, making it one of the largest players in the US utilities sector.
  • The times (comment): For Britain to thrive, the Prime Minister desperately needs a strategy.
  • Financial Times (comment): Change trade within the EU to counter the aggression of the US currency.

Thursday papers: UK and EU resume trade deals after Brexit

Source link

Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent News