Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Monday Papers: Roche to buy InterMune for $8.3bn

Monday Papers: Roche to buy InterMune for $8.3bn

Top stories

  • Daily Mail: Swiss pharmaceuticals giant Roche has agreed to buy San Francisco-based InterMune for $8.3 billion in cash.
  • The Guardian: Medium-sized companies are holding back Britain's exporting ambitions, according to a report by Lloyds Bank; most UK businesses with a turnover of between £25 million and £750 million are too conservative and reluctant to expand into fast-growing markets overseas, despite business confidence reaching a 22-year high, the report found.
  • Financial Times: Britain’s labour costs have dropped below Spain’s as a wage squeeze and weaker pound have transformed the UK into a low cost country, compared with many of its European neighbours.
  • Financial Times: Pictet and Lombard Odier, two of Switzerland’s oldest private banks, will give details of their financial performance for the first time this week, in the latest sign of how a sector long a byword for secrecy is edging towards greater openness.
  • Financial Times: Pfizer is considering its acquisition options as a potential path opens this week for the US drugmaker to renew its pursuit of AstraZeneca.

Business and economics

  • Daily Express: Household goods chain BrightHouse is mulling a stock market listing which could gen­erate a payday of up to £100 million for senior managers.
  • The Guardian: Britain's rate of wage growth is not certain to increase any time soon, despite signs of skills shortages, according to Bank of England deputy governor Ben Broadbent.
  • Financial Times: Sharp falls in financial markets’ expectations about future eurozone inflation rates are creating increasing alarm at the European Central Bank.
  • The Daily Telegraph: Wonga gears up for re-launch under new chief as adverts pulled; lender cuts TV advertising budget as Andy Haste aims to re-invent it as a respected business.
  • Financial Times: The Big Four global accountants are stepping up their services advising hedge funds as they seek to capitalise on a sector mired in increasingly complex and interlinked global regulation.
  • Daily Express: Health club operator LA Fitness is shaping up for a possible sale; Mike Ashley’s sportswear retailer Sports Direct has already bought 13 of 33 gyms LA Fitness is offloading under a company voluntary arrangement with its landlords; this will leave it with 47 clubs.
  • Financial Times: A global watchdog has sounded the alarm about the growing danger of cyber attacks, on financial markets, warning that firms and regulators around the world need to address the “uneven” response to the threat of online assaults.
  • Daily Express: One of Britain’s biggest furniture retailers, Furniture Village, is to step up plans to roll out new stores after securing £6 million investment from the British Growth Fund.
  • Daily Mail: Firms must stop blaming the strong pound for weaker profits and focus on improving productivity, John Neill, one of Britain’s most respected industrialists has warned.

Share tips, comment and bids

  • Daily Mail: Upmarket shoe retailer Jimmy Choo 'to float' on London stock market.
  • Daily Mail: Al Gore's investment fund has ploughed £8 million into power supplier Ovo Energy, a fast-growing challenger to the Big Six energy suppliers.
  • Financial Times: Dominion Diamond Corp is keen to buy control of Canada’s Diavik mine from Rio Tinto if the global mining group revives plans to sell its diamonds business.
  • The Guardian: The Gherkin, the iconic piece of London real estate, attracts interest from 200 potential buyers and is expected to sell for more than £650 million.
  • The Guardian: Autonomy's $11 billion sale to Hewlett-Packard faces further scrutiny after documents cast doubt over the structure of some transactions conducted by the British software firm before its takeover.
  • Financial Times (Lex): Revenue recognition: the cost of harmonising divergent accounting standards is more discretion for companies.
  • Financial Times (Lex): Share buybacks: buybacks return cash to shareholders. But if those shares are bought back later using company profits, the argument is less compelling.
  • Financial Times (Lex): US / EU banks: European banks have largely departed the US market. Time for US banks to take advantage.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter