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Monday Papers: Mutual funds burnt by energy in 2015

And Eurozone economists are sceptical of more ECB asset purchases in 2016.

 
Monday Papers: Mutual funds burnt by energy in 2015

Top stories

  • Financial Times: One of the hottest categories of mutual funds in recent years inflicted the harshest losses on investors in 2015, the result of a toxic combination of sliding oil prices and rising interest rates.
  • Financial Times: Many economists doubt the European Central Bank will increase the size of its €1.46 trillion asset-purchase programme in 2016 despite assurances by ECB chief Mario Draghi that additional monetary stimulus is still on the table.
  • The Daily Telegraph: It is “too early” to estimate the cost of the flooding in the North of England, a spokesman for the insurance industry has said, but economists warn that the current crisis could hamper Britain’s economic growth by up to 0.2%.
  • Financial Times: Pressure is mounting on Peter Hancock, the president and chief executive of American International Group, to come up with a compelling plan to boost profits at the giant insurer.
  • Financial Times: China’s security regulator says it will examine an apparent battle for China Vanke, throwing up another potential obstacle to an obscure insurer’s stake building in the country’s largest property developer.

Business and economics

  • Financial Times: Diamond miners are expected to have to offer more price cuts in 2016 to help the industry clear a backlog of stock and revive sales, according to sector experts.
  • Financial Times: Criminal convictions following cases brought by the Financial Conduct Authority surged in 2015, with 14 people going to prison compared with two in 2014, according to the regulator.
  • Financial Times: BT will pull back from proposals to allow Openreach to deal directly with consumers when dealing with complaints, faults and delays after a consultation with the internet service providers that use its national network.
  • Financial Times: A growing number of energy companies that have filed or will soon file for bankruptcy court protection are likely to be liquidated, with their prospects diminished by the latest falls in natural gas and oil prices, according to distressed investors and restructuring advisers.
  • Financial Times: Diageo has been forced to change tack in the world’s biggest Muslim-majority country with the introduction of alcohol-free Guinness after Indonesia’s government clamped down on beer sales this year.
  • Daily Mail: The unstoppable uptake of online shopping has left retailers scrambling to keep up, says British Retail Consortium boss Helen Dickinson.
  • The Guardian: A group representing 250 landlords is to launch a court challenge against tax changes to buy to let coming into force in 2017, claiming they have been victimised by the chancellor, George Osborne.
  • The Daily Telegraph: British manufacturing is getting a lift from the aerospace sector, as 2015 looks set to be another record year for the industry.
  • The Daily Telegraph: The boss of Ladbrokes has issued a stark warning to the horseracing industry that bookmakers will be unable to funnel sponsorship back into the sport if they are forced out of the industry in a row over funding.

Share tips, comment and bids

  • The Independent: The UK’s biggest care-home operator has sold £20 million worth of properties to an aggressive US investment fund as it reportedly struggles with a debt burden and diving profits.
  • Daily Mail: Dairy Crest’s £80 million bid to sell all of its dairies and 3,000 milk floats to Bavaria’s Muller completed yesterday.
  • The Guardian (Comment): 2016 will be a year of living dangerously for the global economy.
  • Financial Times (Lex): Nigerian Banks: tuning out.

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Top 10 active investment trusts

by Jennifer Hill on Dec 02, 2016 at 07:14

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