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Thursday Papers: EU to seek exemptions from new US sanctions on Iran

And BMW has recalled 300,000 vehicles over fault linked to fatal crash.

 
Thursday Papers: EU to seek exemptions from new US sanctions on Iran

Top stories

  • Financial Times: European companies will be urged to continue investing in Iran as EU leaders said they would press Washington to exempt the economic bloc from fresh US sanctions on the Islamic country.
  • The Times: BMW will recall more than 300,000 cars to repair a potentially lethal fault from Britain’s roads after it failed to act until a person was killed in a crash.
  • The Daily Telegraph: Vodafone has announced an €18.4 billion deal to take over Liberty Global cable networks across Germany and central Europe.
  • The Times: The oil price reached a three-and-a-half-year high on the fear of a shortage in world supply following the US decision to impose sanctions on Iran.
  • Financial Times: Simon Kirby, chief operating officer at Rolls-Royce, is quitting just 19 months after taking the job.
  • The Daily Telegraph: Walmart has acquired 77% stake in India's largest online retailer Flipkart by paying $16 billion, strengthening its global fight against US rival Amazon.

Business and economics

  • The Guardian: In case of failure to secure a free trade deal with the European Union, Britain would suffer from increased grocery costs, businesses could go bust and year-round supplies be put at risk, the Lords EU energy and environment subcommittee has suggested.
  • Financial Times: Renewal of US sanctions on Iran has stalled Boeing's sale of aircrafts worth $20 billion to two Iranian airlines.
  • The Times: Greggs, the high street bakery chain Greggs has warned about weaker than expected profits in the first quarter as many shops had to close because of the harsh weather in March.
  • The Daily Telegraph: Embattled doorstop lender Provident Financial has announced that its recovery plan was on track and all three of its businesses had performed well, breaking a long depressive spell.
  • Financial Times: SoftBank has reported a 60% rise in its quarterly operating profit in comparison to corresponding period last year, thanks to investments made through its $100 billion technology fund.
  • Financial Times: Europe’s largest conglomerate Siemens has raised its full-year outlook as the company’s digital arm helped it beat earnings estimates for the second quarter; Siemens’ shares 4% higher yesterday.
  • Daily Mail: The holiday operator Tui recorded 7.2% increase in sales to £6 billion, boosted by the growing demand for themed cruises and family holidays.
  • The Times: The chief executive of Compass Group has rolled out plans to sell or withdraw from cleaning and security businesses accounting for 5% to focus more on its food business.
  • The Times: Rentokil Initial shareholders revolted against the boardroom pay at the company yesterday with one in four voting against future policy.
  • The Times: Russian gold mining group Petropavlovsk is being pressed by two investment vehicles, CABS Platform Limited and Slevin, which together hold over 9% of the London-listed miner, to remove all of its directors in the forthcoming annual meeting.
  • The Daily Telegraph: Concern over the costs of a £1.3 billion tidal lagoon project planned for Swansea have resurfaced after its developer admitted that they remain well above the price of other energy technologies.
  • Financial Times: Lloyd’s, the London-based insurance market, has banned its syndicates from writing business for the US National Rifle Association.
  • Financial Times: Jay Alix, founder of consulting firm AlixPartners, has filed a lawsuit against McKinsey for more than $100 million in damages accusing the management consultancy of failing to disclose conflicts of interest when competing for bankruptcy clients.
  • Financial Times: Bank of America is being sued for case relating to assessments of property values carried out by LandSafe, the appraisals arm of Countrywide, which BofA bought for a knockdown $2.5 billion in January 2008.

Share tips, comment and bids

  • The Times (Tempus share tips): BUY Tui; BUY Renishaw.
  • The Daily Telegraph (Questor share tips): SELL Electronic Arts; BUY Adobe.
  • The Guardian: The 21st Century Fox will press ahead with plans to merge with Disney and take full control of Sky on Wednesday, said the company's chairman Lachlan Mudroch.
  • Daily Mail: Imperial Brands has decided to sell more than £2 billion of tobacco businesses as it looks to cash in on vaping products, which have seen huge growth in recent years.
  • The Daily Telegraph: BP’s plan to sell the North Sea gas field it owns with Iran's state oil company to Serica Energy could face an eleventh hour delay as the threat of US sanctions raises concern for the industry regulator.
  • Financial Times: US private equity group Carlyle has sold security systems company ADT Caps to SK Telecom and a Macquarie fund for $2.8 billion.
  • The Guardian (Comment): Will Argentina’s IMF gamble pay off?
  • The Times (Comment): Liberty deal challenges German giant.
  • The Daily Telegraph (Comment): Funds bet on $150 oil as Trump blunders into Middle-East battlefield by rejecting Iran deal.

2 comments so far. Why not have your say?

SDRL

May 10, 2018 at 17:37

Kudos for President Trump who has done a super job in his first 16 months of office. This is refreshing to see a man perform so capably in office. The Prime Minister should observe and take notes.

report this

Nick-

May 10, 2018 at 20:49

@SDR

Is SDR stands for Benjamin Natanyahu?

report this

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