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Tuesday Papers: Foreign investors shun UK gilts

And NYSE owner may bid for LSE and gatecrash £20 billion merger with Duetsche Boerse.

Tuesday Papers: Foreign investors shun UK gilts

Top stories

  • Financial Times: Foreign investors are increasingly shunning UK government debt as international confidence in sterling has been hit by the currency’s recent weakness.
  • The Daily Telegraph: London Stock Exchange’s £20 billion merger with Deutsche Boerse could be gatecrashed by the owner of the New York Stock Exchange, according to reports.
  • The Independent: Argentina has reached a $4.65 billion (£3.34 billion) agreement in principle to settle a long-running battle with so-called vulture funds dating back to its debt default 14 years ago.
  • The Daily Telegraph: Central banks must behave more like “pawnbrokers” to stamp out recklessness and put an end to taxpayer-backed bail-outs, according to the former Bank of England Governor.
  • The Guardian: The European Central Bank is under growing pressure to step up support for the eurozone’s flagging economy after the bloc slipped back into negative inflation in February.
  • Daily Express: Online giant Amazon is set to turn up the heat in Britain’s fiercely competitive grocery market after striking a fresh food supply deal with Morrisons.

Business and economics

  • Financial Times: Tony Hayward’s return to the oil and gas industry took a big blow on Monday as Genel, the company he chairs, admitted that its main producing field has about half the oil previously thought.
  • Financial Times: UK online grocer Ocado suffered a blow as Amazon struck its first major deal with a British supermarket to sell hundreds of WM Morrison products on its website.
  • Financial Times: Mike Ashley, billionaire founder of Sports Direct, is facing fresh calls from investors to shake up the company’s board and replace the chairman.
  • Financial Times: China has moved to inject cash into its banking system in the latest effort by the government in Beijing to boost economic growth.
  • Daily Mail: Shares in claims handlers Slater & Gordon almost halved yesterday after it posted £500 million losses following huge write-downs on its UK business Quindell.
  • Financial Times: Pemex, Mexico’s state-owned energy company, saw its net loss last year almost double to 522 billion pesos ($30.3 billion) amid what its chief executive calls a liquidity crunch because of the oil price collapse.
  • The Guardian: More than 1,000 fund managers, hedge funds, brokers and smaller banks will be exempt from the EU’s bonus cap after the Bank of England said it had concluded they did not fall within the scope of the rules.
  • Daily Mail: Staff at fund giant Jupiter received average bonuses of just under £150,000 last year as it cashed in despite the stock market turmoil.
  • The Independent: Genel Energy shares slid by 41% after admitting that its main Taq Taq oilfield contains only about half the oil it previously claimed.
  • Daily Mail: Sterling could fall to ‘parity’ with the euro if Britain votes to leave the European Union, according to a report by UBS.
  • The Guardian: Capita shares continue to slide as analysts cut their recommendations following the outsourcing group’s results last week and news that its chairman was stepping down.
  • Financial Times: Sir Stelios Haji-Ioannou has called for the immediate dismissal of the chief executive of Fastjet as he turns up the heat on the low-cost airline he set up to replicate easyJet’s model in Africa.
  • Financial Times: BlackRock has criticised a Hong-Kong-listed gold miner G-Resources for selling its main asset in order to shift into unrelated businesses, in a rare public attack from the fund management group.
  • Daily Mail: Trinity Mirror shares rose as the publisher revealed a big boost to its dividend despite a drop in annual profits, on the same day as it launched tabloid newspaper, 'The New Day'.
  • Financial Times: Hiscox has warned investors to expect lower cash returns in future as the insurer injects money into its retail insurance businesses.
  • The Guardian: China expects to lay off 1.8 million workers in the coal and steel industries, or about 15% of the workforce, as part of efforts to reduce industrial overcapacity.
  • Financial Times: Steinhoff International, the discount retailer that is seeking to outbid J Sainsbury for the UK’s Home Retail Group, on Monday reported a 67% jump in first-half operating profit.
  • Financial Times: Microsoft has announced a limited release for its HoloLens augmented reality headset, making it the first big technology company to sell an AR device since Google’s failed experiment with its Glass spectacles.
  • Financial Times: The administrators of Powa Technologies, the UK mobile commerce company once valued at $2.7 billion, told staff not to pass intellectual property to former management.
  • Financial Times: Multinational groups say a dollar shortage in Nigeria driven by the oil price crash is forcing local suppliers to buy hard currency at a black market premium, pushing up their operating costs and prices, and obstructing business in Africa’s biggest economy.
  • Financial Times: Walgreens, the US pharmacy chain, is seeking ways to terminate its relationship with Theranos after growing impatient with the blood-testing start-up’s mounting regulatory woes, according to people familiar with the matter.

Share tips, comment and bids

  • Financial Times: Tribune Media, one of the US’s largest television station owners, has hired Wall Street advisers to examine options for the company less than two years after spinning off its newspaper business.
  • Financial Times: AstraZeneca has struck a $500 million deal to sell the marketing rights for two heart drugs, in the latest example of the UK pharmaceuticals group using licensing agreements to boost flagging revenues.
  • The Daily Telegraph (Comment): Amazon's arrival could let Morrisons off the hook online.
  • The Daily Telegraph (Comment): We need to capitalise on America’s overly hostile business environment.
  • The Daily Telegraph (Comment): Brexit scares over jobs and investment are simple fallacies.
  • Financial Times (Comment): Why a tie-up between Deutsche Börse and LSE makes sense.
  • Financial Times (Lex): Sterling: those dismissive of Brexit risks should look to options on the pound.
  • Financial Times (Lex): Japanese banks: negative interest rates should spur much-needed consolidation among the country’s regional lenders.
  • Financial Times (Lex): Rocket Internet: there is no easy way for the Germany company to close its valuation gap.
  • Financial Times (Lex): Solar energy: the rate of installations is still growing but excess capacity limits prices.
  • Financial Times (Lex): Morrison, Amazon, Ocado: the competition for a small profit pool intensifies.

1 comment so far. Why not have your say?


Mar 01, 2016 at 11:03

The daily Telegraph is the paper for Today .With the comment on Brexit .

A very extensive viewpoint from experienced people that have lived with daily facts and news from europe .

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