- Financial Times: A review of capital gains tax commission by Rishi Sunak has recommended lowering the annual allowance and aligning tax rates closer to income tax in order to raise billions of pounds for the treasury.
- The daily telegraph: Pfizer’s CEO sold millions of shares on Monday, the same day the drug company announced its coronavirus vaccine was more than 90% effective.
- The times: Whitbread, the UK’s largest hotel group, will reduce the thousands of job cuts it has proposed, raising hopes for a slowdown in unemployment.
- Financial Times: The Russian heiress, who controls the Louis Dreyfus Company, has agreed to sell a 45% stake in the agricultural trader to the state-owned holding company ADQ in Abu Dhabi.
- Financial Times: GardaWorld has overcome the competitive hurdles in the USA and Canada with its hostile takeover offer from rival G4S.
Business and economy
- The guard: The UK is on its way into a debt crisis after a sharp surge in emergency lending to low and middle income households to tackle the Covid-19 employment crisis.
- Daily mail: British defense giant BAE Systems is up for at least £ 900m after the federal government orders 38 Eurofighter Typhoon jets valued at £ 4.8bn.
- The times: Flutter Entertainment, the gaming group behind Paddy Power and Betfair, is well on its way to becoming the first operator to generate more than $ 1 billion in gaming revenue in the US.
- The times: Alibaba, the Chinese e-commerce platform, had sales of more than $ 70 billion during the expanded Singles’ Day shopping event last night.
- The daily telegraph: Toby Courtauld, head of Great Portland Estates, has allayed fears that the post-Covid-19 London offices could be hollowed out as “proven nonsense” after the real estate company listed the value of some of its assets.
- The guard: Rolls-Royce says it can create 6,000 jobs in the UK in five years if the government supports their plans to build small nuclear reactors across the country.
- The daily telegraph: Goldman Sachs expects the FTSE 100 to climb 14% by the end of 2021 as a broad rebound and strong monetary support boost stocks.
- Daily mail: McCarthy & Stone has warned there will be an annual loss as the coronavirus crisis affects sales.
- The times: The chairman of JD Wetherspoon has described dealing with the pandemic as “a complete mess” as the company saw a 28% like-for-like sales decline in the first quarter.
- The times: 3i Infrastructure wrote off its investment in TCR, a company that leases aircraft tractors and moving stairs to airlines, by £ 19 million after finding the aviation industry will not return to pre-pandemic activities until 2024.
- Financial Times: SoftBank opened the lid on SB Northstar, the new entity set up for the technology stocks market, and posted trading losses of $ 3.7 billion.
- The times: Homeowners face £ 4.5bn rent defaults through the year as collection rates continue to suffer from a government ban on evictions and aggressive rental income.
- The guard: The market values of China’s largest internet companies fell after two days of frantic sales with investors fearing Beijing could curtail the power of domestic tech companies.
- The daily telegraph: The eurozone’s recovery will depend on the speed with which vaccines are introduced, European Central Bank President Christine Lagarde warned as she sought another bond buy-in.
- The guard: Tate & Lyle Sugars, a prominent supporter of Brexit, warned of sugar and syrup shortages in Northern Ireland in the New Year as trade relations between the UK and the EU are not clear enough.
- Financial Times: Guinness issued a “precautionary” recall of the non-alcoholic version of its stout just weeks after its launch due to fear of bacterial contamination.
- The daily telegraph: Emirates has begun using Airbus A380s as cargo aircraft to meet increasing demand for goods carried while awaiting a recovery in passenger air traffic.
- Daily mail: According to a report by Deutsche Bank, a heavy tax should be levied on people who work from home to support those whose livelihoods are threatened.
- Financial Times: Toshiba will stop taking orders for new coal-fired power plants over the next decade, given global pressures to fight climate change, and will grow renewable energy revenues by 242%.
Share tips, comments, and bids
- The Times (Tempus Share Tips): HOLD Smith & Nephew; HOLD BAE Systems.
- Daily mail: Codemasters faced an investor backlash against the £ 726 million sale of the company last night when top investors hit back saying the offer was too low.
- Daily mail: Marks & Spencer will issue its first junk loan on a dramatic note of how far the main drag has come.
- The times: Round Hill Music, a music rights fund looking to buy a catalog of 120,000 songs, has raised nearly $ 100 million less than it hoped when it went public.
- The times: The London Stock Exchange Group faces another potential obstacle to the $ 27 billion acquisition of Refinitiv after it emerges that competitors are expressing concerns about doing business with Brussels.
- Financial Times: A planned takeover of the London-listed copper producer Kaz Minerals by its chairman met with opposition from minority shareholders who want to vote against the £ 3 billion takeover offer.
- The Daily Telegraph (Commentary): Trump contaminated Brexit, but Biden could be its savior.
- The Daily Telegraph (Commentary): What the vaccine means for the global economy.
Thursday Papers: UK Capital Gains Tax Revision Called For In Review