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Friday Papers: Walmart reports surge in online sales

Friday Papers: Walmart reports surge in online sales

Top stories

  • Financial Times: Walmart showed it was making progress in its attempt to compete with Amazon as a destination for online shoppers, reporting surging ecommerce sales in its most recent quarter.
  • The Daily Telegraph: Theresa May has unveiled an array of new measures targeting Britain’s boardrooms in a manifesto launch that signals her determination to intervene more in business.
  • The Times: Market fears over the political upheaval in Washington spilled across the Atlantic yesterday, sending the FTSE 100 down almost 70 points.
  • Financial Times: The criminal investigation into a wide range of practices at Fox News is now on shaky ground after the death on Thursday of Roger Ailes, the cable channel’s founder.
  • The Times: Business groups yesterday accused the Conservatives of a misguided interventionist attack on free markets that threatens to saddle companies with costs and strip them of skills.

Business and economics

  • The Daily Telegraph: Shoppers came out in force last month as good weather combined with the long Easter weekend boosted household spending.
  • The Daily Telegraph: Royal Mail will target growth overseas in a bid to offset the continued decline in the number of letters it delivers in the UK, as it faces further competition from online retailers.
  • Financial Times: British football giant Manchester United has lifted its revenue and profit guidance for the year, in a season where the club has picked up one domestic trophy and is eyeing more silverware before the end of the season.
  • The Daily Telegraph: Four carmakers, including Toyota and BMW, have agreed to pay $553 million (£425 million) to settle class-action lawsuits covering owners of recalled vehicles, fitted with potentially faulty Takata airbags.
  • The Times: Sales of Harry Potter books rose by 88%, boosted by a new illustrated edition of The Chamber of Secrets, while an 87% rise in sales of fantasy novels such as A Court of Mist by Maas, took children’s sales to £55.9 million, up 48%.
  • The Guardian: Mothercare is to almost halve the size of its UK chain and stop selling clothes for older children as it tries to carve out a profitable future on the high street.
  • The Times: Shire was boosted yesterday by promising trial data for a drug to treat a rare and sometimes deadly hereditary disease.
  • Daily Mail: Profits at British fashion firm Burberry have plunged by a fifth after weak wholesale trading in the US.
  • The Times: Sales at Booker Group have broken £5 billion for the first time in a strong performance for the wholesaler before its takeover by Tesco.
  • The Guardian: Credit checking agency Experian has launched a $600 million (£460 million) share buyback in order to reduce its capital, as it hails a “vibrant” sector.
  • The Times: Deutsche Bank said it expects former board members to pay substantial sums for misconduct that tarnished the reputation of Germany’s biggest lender.
  • The Times: Prudential is shaking up its senior management again with its finance director taking over its Asian business.
  • The Times: The chairman of Hargreaves Lansdown is to leave after running the board for almost eight years, as the investment firm faces stiff competition from a new low-cost rival.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): BUY Schroder Asiapacific Fund.
  • The Times (Tempus share tips): BUY SSP; BUY National Grid; AVOID Dairy Crest Group.
  • Financial Times: French laundry services group Elis is threatening a hostile takeover of UK-based rival Berendsen after the target’s board of directors repeatedly rejected its cash and share offers.
  • The Guardian: Transline, the controversial employment agency, has been bought out by rival Russell Taylor Group after falling into administration.
  • The Times: Marston’s has added beer brands including Bombardier, Courage, Young’s and McEwan’s to its bulging collection after announcing the £55 million acquisition of the 141-year-old Charles Wells brewing business.
  • Daily Mail: Mining giant Glencore has teamed up with US private equity investor Carlyle Group to buy Morocco’s only oil refinery.
  • Financial Times (Lex): Cisco: forget the tax holiday, Washington’s turmoil is already hitting earnings.
  • Financial Times (Lex): The Trump trade: the turmoil around the latest ‘CEO’ of the US may have limited impact on markets.
  • Financial Times (Lex): Ubisoft: the video game maker, not Vivendi, deserves credit for the share rally.

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