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Tuesday Papers: Global investors shun UK stock market

And slow February offers retailers little cheer as they count the cost of bad weather.

Tuesday Papers: Global investors shun UK stock market

Top stories

  • Financial Times: The UK stock market is the most unpopular asset class in the world among big international investors, with confidence languishing at its lowest levels since the financial crisis.
  • The Daily Telegraph: High street retailers have faced a tough February, as squeezed incomes continue to drive shoppers to focus on essentials such as food and conditions are made harder by mounting competition from online sellers, data has revealed.
  • The Times: The City watchdog was warned last summer that Beaufort Securities, the failed City broker that faces fraud charges in the United States, was not acting in the best interests of its 14,000 clients.
  • The Guardian: Fears of the first full-scale tariff war since the 1930s have been raised by the head of the World Trade Organisation, in a direct warning to Donald Trump that his proposed levies on steel and aluminium will trigger a domino effect that will lead to global recession.
  • The Daily Telegraph: Donald Trump has indicated he could abandon his steel tariff if other countries agreed to trade changes as his allies cleared the way for a possible change of mind.
  • Financial Times: French insurer Axa is to buy Bermuda-based XL Group in a $15.3 billion deal that cements its position as one of the world’s biggest property and casualty insurance companies.
  • Financial Times: Key commodities have not escaped the fallout from the Trump administration’s plans for levying tariffs on steel and aluminium, a protectionist step that investors fear may hurt global growth.
  • Financial Times: The US is offering Britain a worse “Open Skies” deal after Brexit than it had as an EU member, in a negotiating stance that would badly hit the transatlantic operating rights of British Airways and Virgin Atlantic.

Business and economics

  • The Times: The Pensions Regulator has expressed concerns that Melrose’s proposed takeover of GKN could have a “detrimental impact” on the covenant of the engineering group’s pension schemes.
  • The Daily Telegraph: The global oil market faces a supply cliff edge in the next decade as demand for crude rises faster than US shale production.
  • The Guardian: Airbus has warned it would have to consider its position in the UK without imminent clarity over customs rules after Brexit.
  • The Daily Telegraph: Poundland is taking the fight to Primark with plans to open another 91 Pep & Co fashion concessions in its stores over the next four months.
  • Daily Mail: Amazon is in talks with banks about creating its own current account service.
  • The Guardian: Trinity Mirror is to change its name to Reach following the acquisition of Richard Desmond’s Express and Star titles, as the newspaper publisher reported a slump in revenues in tough trading conditions last year.
  • Daily Mail: Toyota is to stop selling diesel-powered passenger cars in Britain and Europe by the end of this year, company bosses have announced.
  • The Times: A bondholder group in Capita, the support services group that collects the BBC licence fee and runs London’s congestion charge, has hired advisers to look after their interests in the event of a restructuring.
  • Financial Times: China’s dominant social media platform WeChat has hit 1bn accounts, highlighting the popularity of the pervasive service used for everything from communication to shopping.
  • Daily Mail: The private equity titan Blackstone Group's founder Stephen Schwarzman is on course to be America's best-paid boss this year after pocketing £570 million.
  • The Daily Telegraph: The chief executive of Jigsaw, Peter Ruis, has stepped down from the business, ahead of an expected announcement on the sale of a stake in the fashion retailer later this week.
  • Financial Times: “Shadow banking” grew by nearly 8% globally to more than $45 trillion on a conservative measure after international rulemakers were able to include detailed data from China and Luxembourg for the first time.
  • Financial Times: The government of Gabon has stepped up its feud with Veolia, accusing the French water, waste management and energy group of causing widespread “severe pollution” at several operating sites in the central African nation.

Share tips, comment and bids

  • The Times (Tempus share tips): BUY RIT Capital Partners; BUY Mysale.
  • The Daily Telegraph: The US government has ordered the microchip giant Qualcomm to postpone a crucial shareholder vote on its $142 billion (£103 billion) sale of the company to Singapore rival Broadcom, citing national security concerns.
  • The Daily Telegraph: Defence group Ultra Electronics could become a takeover target following the collapse of its acquisition of joint-venture partner Sparton because of competition concerns.
  • The Times: Aston Martin may be set for an American makeover as it considers whether to pursue a listing in New York rather than London.
  • The Times: Soco International has ended merger talks with Kuwait Energy after failing to agree on terms of a deal.
  • Financial Times: Online betting group GVC Holdings is buying Crystalbet, a “leading” online gaming operators in the Republic of Georgia, as part of shift in strategy towards regulated gambling markets.
  • Financial Times: Google has sold the restaurant review guide Zagat to The Infatuation, a food recommendation site that rose to prominence through savvy use of hashtags and tantalising Instagram photos.
  • The Guardian (Comment): Bitcoin is based on the blockchain pipe dream.
  • Financial Times (Comment): Italian election brings EU reformers back to earth.

1 comment so far. Why not have your say?

Hank Elvis Dobbs (texan)

Mar 06, 2018 at 08:36

Phew...I dread it when a newspaper recommends a company i own

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