Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Monday Papers: Ireland warns May over Brexit deal

Monday Papers: Ireland warns May over Brexit deal

Top stories

  • The Times: Theresa May’s delicate Brexit compromise on Ireland was in danger of unravelling last night after the government’s commitment to a deal was questioned in Dublin and Brussels.
  • Financial Times: The Japanese exchange at the heart of bitcoin’s recent surge, bitFlyer, has said its investors are fuelling the cryptocurrency’s feeding frenzy as they buy in with leverage up to 15 times their cash deposit.
  • The Daily Telegraph: One in eight workers are thinking about leaving their workplace pension schemes when contributions rise next April, according to research by Aviva.
  • Financial Times: Britain’s chemicals and pharmaceuticals industries have called on the government to let them remain within EU rules, even as Eurosceptic ministers step up a campaign to break away from the bloc’s regulations.
  • Financial Times: Saudi Aramco, the world’s biggest oil producer, is more concerned about growth of ride-sharing services such as Uber than the rise of electric vehicles as a major disruptive force to transport and energy use.
  • Financial Times: Labour is considering relocating most of the Bank of England to Birmingham if it wins power at the next general election, a move that would shake up more than three centuries of association between the Old Lady and the City of London.
  • The Guardian: BAE Systems has announced a £5 billion contract to supply Typhoon aircraft to the Qatari air force.

Business and economics

  • The Guardian: Britain’s biggest businesses are warning the economy will remain in the slow lane, as uncertainty from Brexit puts their investment plans on ice despite progress with Brussels.
  • Financial Times: Wall Street executives have begun lobbying against controversial provisions in the Republican tax overhaul bill that would hit high-tax states, arguing they could damage New York’s financial industry by driving out bankers and fund managers.
  • The Times: Chris Sier, the academic appointed by regulators to force fund managers to be more transparent, says that the industry is “arrogant and complacent” and estimates that it is taking £35 billion a year too much in hidden charges from pension funds.
  • Daily Mail: Profits at Dixons Carphone are expected to tumble by more than 50% this week as the rising cost of new mobile phones mean customers hang onto their old handsets longer.
  • Daily Mail: Better Capital, a fund set up by one of Britain’s most famous private equity barons, Jon Moulton, to revive struggling businesses has lost £140 million in the five years since its launch.
  • Financial Times: Avondale Pharmaceuticals, a US drugmaker, is charging almost $300 for a bottle of prescription vitamins that can be bought online for less than $5, in the latest attempt at price gouging in the world’s largest healthcare market.
  • The Times: The London-based Brevan Howard Asset Management is taking a bet on a Greek recovery with plans to launch two funds focused on the European Union’s most indebted economy.
  • Financial Times: Britain’s two biggest independent cash machine operators have warned they will have to close thousands of ATMs or start charging consumers to withdraw money if banks proceed with plans to cut the fees paid by card issuers.
  • The Daily Telegraph: Bosses at hedge fund Marshall Wace have on average all suffered a £14 million fall in their pay over the last year after a sharp drop in performance fees hammered their remuneration.
  • Financial Times: UK stockbroker Zeus Capital is facing increased scrutiny after several corporate clients have suffered high-profile controversies in recent months, taking the shine off its rapid rise to prominence.
  • Financial Times: Chinese banks are using ethically labelled bonds to refinance existing loans, helping to propel the country to become the world’s biggest issuer of green paper.
  • The Daily Telegraph: The world’s central banks and financial authorities should club together to “stress test” the entire global economy in order to spot potential crises before they strike, Randy Kroszner, a former governor of the Fed, has proposed.
  • The Guardian: The EU’s bank has come under fire for moves towards approving a €1.5 billion (£1.3 billion) loan for a gas pipeline from Azerbaijan to western Europe as the French president, Emmanuel Macron, prepared to hosted a climate change summit in Paris.
  • Financial Times: Essilor-Luxottica, the soon to be merged eyewear maker, will search for a new chief executive to lead the combined group, according to the head of French lens maker Essilor.
  • The Times: The boardroom battle at Johnston Press has left the newspaper publisher struggling to recruit new journalists and to reassure readers, advertisers and staff over its future, its chief executive has claimed.
  • The Daily Telegraph: Government officials have admitted the plan to put a cap on standard energy prices could scupper growing competition in the energy market, unless the regulator keeps bills high enough to make it worthwhile for consumers to switch.

Share tips, comment and bids

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: How Julius Baer plans to win UK wealth

2 Comments Profile: How Julius Baer plans to win UK wealth

Julius Baer has embared on a hiring spree to fuel its ambitious UK expansion plans.

Wealth Manager on Twitter