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Saturday Papers: Trump imposes new sanctions against Russia

And Washington dashed hopes of resolution with China on trade tariffs accusing WTO of offering 'advantages' to Beijing.

 
Saturday Papers: Trump imposes new sanctions against Russia

Top stories

  • Financial Times: Washington’s crackdown on Russia escalated on Friday after the Trump administration slapped toughest sanctions against Moscow to date; it announced highly punitive measures against seven high-profile Russian businessmen, a dozen of their companies and 17 senior government officials.
  • The Daily Telegraph: US President Donald Trump said the World Trade Organisation provides China special treatment and is unfair to the US, dashing hopes of a resolution on trade tariffs.
  • The Times: WPP chief executive Sir Martin Sorrell has roped in two prominent lawyers to fight against allegations of personal misconduct and the misuse of funds at the company.
  • Financial Times: Russia’s communications watchdog Roskomnadzor has moved to court to ban the popular messaging app Telegram for refusing to help security services decode encrypted messages.
  • Financial Times: Samsung Electronics has forecast another record operating profit for the first three months of 2018; strong demand for memory chips and its latest flagship smartphone offset slowing sales of display panels.
  • Financial Times: Online marketplaces including Amazon and eBay have agreed to give HM Revenue & Customs access to their data to combat value added tax evasion by overseas online retailers.

Business and economics

  • Daily Mail: Online electrical goods retailer AO World has forecast a 14% jump in full year sales, as it rebounds from a slowdown last year .
  • Daily Mail: The Co-operative Group has reported pre-tax profits of £72 million, marking a return to profits after cutting ties with its troubled banking arm that dragged it down.
  • Financial Times: Shares in pharmaceutical companies developing immunotherapy medicines to fight cancer plunged on the news of the failure of a clinical trial by Merck.
  • Daily Mail: Moody’s has put the 259-year-old engineering company GKN ’s rating under review amid concerns over a £1.4 billion debt that new owners Melrose plan to pile on the firm.
  • Daily Mail: Katie Bickerstaffe, Dixons' UK and Ireland boss, will quit later this year to lead the new energy supplier created out of the merger of SSE's household business and Npower.
  • The Times: Platforms offering services linked to cryptocurrencies such as Bitcoin must obtain regulatory approval to deal, arrange or advise on transactions and to issue tokens in a so-called initial coin offering, the Financial Conduct Authority has said.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): Questor's Income Portfolio is steady but a sad end for the Conviviality tip.
  • Financial Times: Chinese airline-to-finance conglomerate HNA Group has said that it is offloading some or all of its $6.5 billion stake in Hilton Worldwide.
  • The Guardian: Grocery wholesaler Bestway has acquired retail division of troubled drinks group Conviviality in a £7 million deal, possibly saving about 2000 jobs.
  • The Daily Telegraph: Tata Steel is eying a majority stake in its venture with Germany’s Thyssenkrupp, announced last September to merge European assets and create a £13.3 billion-a-year industry giant.
  • Financial Times: SoftBank is moving into lithium as it is set to acquire up to a 9.9% interest in Toronto-listed Nemaska Lithium for C$99.1 million (US$77.7 million).
  • The Times: Redrow chairman Steve Morgan has handed 16.8 million of the housebuilder’s shares, worth nearly £100 million, to his children.
  • The Times: Private equity groups - including Hilco, Endless and Lion Capital - as well as B&M, a value retailer, are said to be circling Homebase, the troubled retailer acquired two years ago by the Australian conglomerate Wesfarmers.
  • The Guardian (Comment): How will the US-China trade tussle end in a globalised world?
  • The Guardian (Comment): China's 'nuclear option' is useless, but it can outwit Trump by subtler means.
  • Financial Times (Lex): Bike-sharing: keeping start-ups upright will require a balancing act.
  • Financial Times (Lex): Sugar tax: food bosses are fretting about appetite for levies on ingredients.
  • Financial Times (Lex): Samsung: recent governance efforts are more distraction than upside catalyst.
  • Financial Times (Lex): Golf: sector offers lessons to other struggling consumer sectors.

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