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Thursday Papers: Brexit’s outcome poses risk to global stability, says IMF

And Elliott Advisors has dismissed a plan by Akzo Nobel to split its business in two and hand back £1.3 billion to shareholders.

Thursday Papers: Brexit’s outcome poses risk to global stability, says IMF

Top stories

  • The Guardian: The International Monetary Fund has warned that Brexit’s unpredictable outcome poses a risk to global financial stability.
  • The Times: Activist hedge fund Elliott Advisors has dismissed a plan by Akzo Nobel to split its business in two and hand back £1.3 billion to shareholders, calling it too ambitious, incomplete and an attempt by senior managers to keep their jobs.
  • The Guardian: The International Monetary Fund has revised up its UK growth forecast for the second time in three months; the IMF said it now envisaged the British economy expanding by 2% in 2017.
  • Financial Times: Premier League clubs have made a combined loss for the first time in three years, as a new multibillion-pound television rights deal helped fuel record spending on players.

Business and economics

  • Daily Express: Vodafone is to scrap the roaming charges that customers pay for using their mobile phone abroad, making it the first UK operator to do so.
  • The Guardian: Philip Hammond has signalled that the government is facing a multibillion-pound loss from selling off its 73% stake in Royal Bank of Scotland.
  • Financial Times: Alphabet, the owner of Google, has teamed up with two leading academic institutions to collect health data on more than 10,000 people to help medical researchers unearth clues that can predict disease.
  • The Times: Investors are starting to respond to the wide difference in valuations between American and European stocks, Henderson Group said yesterday as it put a brave face on investor outflows of £1.8 billion in the quarter to March.
  • Financial Times: Emirates is cutting the number of flights to the US in a strong sign that new security measures introduced by US president Donald Trump are hitting the operations of the big Gulf carriers.
  • Daily Mail: Star money manager Neil Woodford has raised £553 million for his new Income Focus Fund.
  • The Times: Investors poured $82 billion into Blackrock’s passive index-tracking and exchange-traded funds in the first three months of the year as they withdrew $1.8 billion from its active funds.
  • Daily Mail: John Lewis, founder of kitchen-maker John Lewis of Hungerford, has stepped down after an overhaul of its management.
  • The Times: Soaring fee income from bond trading helped Morgan Stanley to beat expectations on Wall Street.
  • The Times: Helen Connolly, the chief executive of Bonmarché, has pointed to an increase in quarterly sales as evidence that her turnaround of the struggling clothing retailer has begun.
  • Financial Times: Baidu, China’s largest search engine group, has launched an attempt to become the Android of the automotive world by opening up its self-driving technology secrets to rivals.
  • The Times: Global Ports, the world’s largest independent cruise port operator, has brought Lord Mandelson on board as it plans to raise $250 million in a British flotation.
  • The Guardian: Property worth more than £400 billion is set to cascade down from grandparents to younger generations in the coming decades, though only a minority of those under 45 are likely to benefit.
  • The Times: The FTSE 100 continued to slide yesterday, reversing all its gains this year as the pound eased against the dollar.
  • The Times: The value of merchandise traded on eBay rose by 2.4% in the first quarter to $20.95 billion, but that was slightly below expectations of $21.06 billion.
  • The Daily Telegraph: Facebook is developing technology to let users communicate using only their thoughts, the internet giant confirmed on Wednesday night.
  • The Times: A quarter of all US corporate assets would be vulnerable if there was a sudden increase in interest rates because of a debt binge among businesses in the country, the International Monetary Fund has warned.
  • Financial Times: Shares in Burberry suffered their sharpest one-day fall in six months on Wednesday after the luxury fashion house reported slowing sales growth, despite an “exceptional” performance in the UK.
  • The Daily Telegraph: The UK dominates the European financial technology industry, with figures showing it boasts more billion-dollar fintech companies than the rest of the continent put together,according to a report by the technology investment bank GP Bullhound.
  • The Times: The government has given its clearest warning yet that it is preparing to cap energy prices, vowing to take “very decisive” action to address the “flagrant mistreatment” of millions of households on expensive tariffs.
  • Financial Times: Bill O’Reilly, the biggest star at Rupert Murdoch’s Fox News Channel, is leaving the US cable news network after an independent investigation into claims that he sexually harassed several women.
  • The Times: Associated British Foods has put together a full-time team to work out what impact leaving the European Union will have on the owner of Primark and Britain’s biggest producer of beet sugar.
  • The Times: Bunzl promised more of the same yesterday after a string of recent acquisitions gave it the firepower to increase first-quarter revenue by 18%.
  • Financial Times: UKTV, the owner of channels including Dave and Gold, has warned that Theresa May’s decision to call a snap general election in June could lead to a further deterioration in the television advertising market.
  • Financial Times: Freshfields Bruckhaus Deringer, the London-headquartered law firm, has hired the joint head of anti-corruption from the UK’s Serious Fraud Office.
  • Financial Times: Tata Steel has offered to make a one-off payment of £520 million into its UK pension scheme, in its latest effort to make a clean break from its large British retirement liabilities.

Share tips, comment and bids

  • The Times (Tempus share tips): Buy Associated British Foods; Buy Sergo; Avoid Royal Bank of Scotland.
  • Daily Express: Tesco has agreed to sell its opticians business to Vision Express as it sharpens its focus on improving its core UK grocery operation.
  • The Guardian: The government has agreed a £2.3 billion sale of the Green Investment Bank to the Australian bank Macquarie, according to sources close to the process.
  • The Times: Element Materials Technology has won the race to acquire Exova Group in a cash deal worth £620 million.
  • Financial Times: SoftBank is in talks to invest more than $1 billion in Indian digital payments business Paytm.
  • Financial Times: IBM shares skidded by the most in almost a year on Wednesday after it posted its 20th straight quarter of sales declines.
  • Daily Mail (Comment): George's marvellous legacy after returning Britain to prosperity and stability.
  • The Daily Telegraph (Comment): Should the next Chancellor give taxpayers free RBS shares?
  • The Times (Comment): Dulux dog is getting some colour back.

1 comment so far. Why not have your say?

Donald Chan

Apr 20, 2017 at 13:21

We know the IMF has a political agenda.

report this

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