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Saturday Papers: BlackRock challenges UK pension providers

Saturday Papers: BlackRock challenges UK pension providers

Top stories

  • Financial Times: BlackRock, the world’s largest asset manager, is to swoop into Britain’s pensions market mounting an aggressive challenge to UK life insurers after concluding that government reforms could lead to the collapse of the annuities market.
  • Daily Mail: Barclays faces a barrage of shareholder anger over excessive pay following another troubling year for the bank.
  • Financial Times: Japanese banks have made a marked retreat from Russia pulling back from deals and suspending credit lines underlining the uncertainty over whether the west will impose more western sanctions on Moscow’s business elite.
  • Daily Mail: The Bank of England’s money printing experiment has boosted the economy by around £65 billion, according to Martin Weale, one of its senior officials.

Business and economics

  • Daily Mail: The Co-operative Group faces months of uncertainty over whether it can secure its future after unveiling a £2.5 billion loss this week.
  • The Daily Telegraph: In a meeting with President Vladimir Putin, Shell chief Ben van Beurden said he is committed to the company's energy investments in Russia.
  • Financial Times: US banks reported their worst start to the year in fixed-income trading since the financial crisis; Citigroup, JP Morgan Chase, Bank of America, Goldman Sachs and Morgan Stanley reported $15.1 billion in fixed-income trading between them in this week’s earnings season.
  • The Guardian: Reckless company directors may have to compensate victims of their failed business dealings under new measures being brought forward by Vince Cable, the business secretary.
  • The Guardian: The CBI has registered with the Electoral Commission to formally back a no vote in the Scottish independence referendum, prompting two of the business lobby group's members to leave.
  • The Independent: The share of first-time buyers fixing mortgage payments to ward off the impact of potential interest rate rises has reached an all-time high, according to figures compiled for The Independent.
  • The Independent: Global demand for chocolate is pushing the price of cocoa beans to a three-year high as West African farmers struggle to keep up with demand.
  • Financial Times: General Electric, the US manufacturing and finance group, still expects healthy growth in China this year, in spite of mounting concerns about the country’s economy, its chief financial officer has said.
  • Financial Times: JP Morgan Chase’s head of China is stepping down from the role after a controversial five years running a unit that is now mired in the “princeling” scandal roiling the largest US bank by assets.

Share tips, comment and bids

  • The Daily Telegraph: Hot dog supplier Rollover calls in Spayne Lindsay to advise on sale; Rollover, backed by private equity group Piper, sells over 20 million hotdogs a year through convenience stores and stadiums.
  • Financial Times: Comcast and Time Warner Cable have entered negotiations to hive off cable assets worth up to $20 billion in a deal with Charter Communications that aims to allay Washington’s concerns about their proposed merger.
  • Financial Times: Mobile operator VimpelCom has resolved its dispute with the Algerian government, selling a 51% stake in operator Djezzy to Algeria’s sovereign wealth fund for $2.6 billion.
  • Financial Times: Italy’s Monte dei Paschi di Siena has increased the size of its planned share sale from €3 billion to €5 billion as the troubled lender aims to repay state aid and create a buffer to pass a European-wide bank health check.
  • Daily Mail (Comment): Michael Lewis' latest tome, Flash Boys, shines a light on the dark corner of the markets that is High Frequency Trading, or HFT.
  • Daily Mail (Comment): The Treasury this week published a second report into the impact of tax cuts on the wider economy – and like the first piece of analysis, the results look good.
  • Daily Mail (Investment Extra): Chinese reform is set to benefit investors in the longer term.
  • Daily Mail (Comment): Don't worry about the Lamborghini, it's banks we need to watch out for when it comes to blowing a pension.
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