Tuesday Papers: IMF urges rich nations to boost public investment

Top stories

  • Financial Times: The IMF has urged advanced nations to increase public investment and spark a strong economic recovery from the coronavirus pandemic.
  • The daily telegraph: Cineworld has cut up to 45,000 jobs and mothballed all locations in Great Britain and the USA, which has pushed the beleaguered cinema industry further into crisis.
  • The times: Boris Johnson announces £ 160m investment in ports and factories as he promises offshore wind will produce enough power to power every home in a decade.
  • Financial Times: FC Barcelona, ​​one of the richest football clubs in the world, posted a pre-tax loss of 100 million euros last season and more than doubled its debt to 488 million euros.
  • Financial Times: Alibaba plans a stake of up to 10% in Dufry, the world’s largest operator of duty-free shops at the airport, as part of a capital raise of CHF 700 million.

Business and economy

  • The times: New vehicle registrations fell 4.4% last month to 328,041, the lowest level since 1999 when the semi-annual license plate change system was introduced.
  • The guard: The chief of JP Morgan said the Covid-19 pandemic and the police murder of George Floyd had put the spotlight on America’s shortcomings and failure to tackle inequality and racism
  • The times: The economic recovery lost momentum last month as a Covid-19 resurgence led to new restrictions on businesses and households, as shown by the IHS Markit / CIPS Service Sector Purchasing Managers’ Index.
  • The times: Greencore warned of a 14% drop in sales and a £ 10m bill for pandemic-related operating expenses following a coronavirus outbreak that closed one of its factories.
  • The times: Sales at Mulberry fell nearly a third in the six months to September 26, as tourism declined dramatically in the world’s major cities and office workers left.
  • Daily mail: Garden centers and kindergartens enjoy booming sales as the coronavirus pandemic prompts families to upgrade their homes.
  • Financial Times: Theodor Weimer, CEO of Deutsche Börse, wants to overtake the German Dax after the Wirecard accounting scandal.
  • The times: Travel restrictions have cut the number of people using the Canal Tunnel in half. Getlink announced that the number of passenger cars was down 46% last month from a year earlier.
  • The guard: Octopus Energy plans to create 1,000 new technology jobs in locations in London, Brighton, Warwick and Leicester, and a new technology center in Manchester.
  • Daily mail: Boohoo’s largest shareholders, Jupiter, Invesco and Baillie Gifford, have been urged to oust the fashion giant’s billionaire chairman after a report found conditions for sweatshops across the Leicester supply chain.
  • The times: Glass Lewis and Institutional Shareholder Services said investors should oppose the Ashmore Group’s proposed compensation policy.
  • The times: Members of the Sackler family, whose pharmaceutical company benefited from the pain relievers blamed for sparking the American opioid crisis, are about to settle opioid charges.
  • The daily telegraph: H & M has been fined £ 32 million and has “unconditionally” apologized to employees in Germany for illegally monitoring hundreds of employees.

Share tips, comments, and bids

  • The Times (Tempus Share Tips): BUY ITV; BUY virgin money.
  • Daily mail: A merger between Virgin Media and O2, if approved, will create more than 4,000 jobs in the UK, say the parent companies of both companies.
  • The times: The government is considering investing in future nuclear power plants such as Sizewell C, the energy minister has confirmed.
  • Daily mail: Engineering giant Weir is the latest UK company to attract the attention of foreign applicants as FTSE 250 sells its weak oil and gas business to US engineering titan Caterpillar.
  • Daily mail: Italian chocolate maker Ferrero Group will buy Fox’s Biscuits for £ 250 million.
  • The daily telegraph: Silicon Valley tycoon Peter Thiel made a payday of $ 278 million by selling stakes in his data mining company Palantir in the first two days after going public.
  • The times: Chanel bought its grand store on Bond Street by paying about £ 310m in a vote of confidence in central London – £ 70m more than the £ 240m price.
  • The times: Britain’s leading equity crowdfunding platforms to join forces after Crowdcube negotiates a deal to acquire Seedrs.
  • The daily telegraph: After more than 130 years of British ownership, the bread maker Hovis could be picked up by the Italian company Newlat Food.
  • Financial Times: Bristol-Myers Squibb to acquire California drug company MyoKardia for $ 13.1 billion to expand its cardiovascular drug portfolio.
  • Financial Times: Japan’s NEC has agreed to buy Avaloq, Switzerland’s largest software provider for banks, for CHF 2.05 billion (£ 1.73 billion) in its biggest foray into the global fintech space.
  • The times (comment): Real board diversity is about more than the color of a director’s skin.

Tuesday Papers: IMF urges rich nations to boost public investment

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