- Financial Times: Qualcomm said that it was open to new discussions with Broadcom that reflect its “true value”, but that an already sweetened offer still undervalued the company and did not compensate for regulatory risks that could yet derail the largest technology acquisition ever proposed.
- The Times: US prosecutors charged 13 Russian citizens yesterday with carrying out an audacious plot to influence the 2016 election in favour of President Trump.
- The Daily Telegraph: Hopes have been raised that the UK will strike a bespoke deal on financial services with the EU, keeping the vital cross-Channel trade open after Brexit.
- Financial Times: SpaceX will on Saturday officially enter the race to bring internet access to all parts of the earth’s surface with the planned launch of its first test satellites for a globe-encompassing communications network.
- Financial Times: Citigroup has boosted the pay package for chief executive Michael Corbat by almost half to $23 million for 2017, a year in which the US bank increased operating profits but fell short of previously set financial goals.
- The Times: Markets were celebrating their best weekly performance in six years last night as confidence recovered from a global sell-off earlier this month; the Dow Jones ended up 4.3% on the week; the S&P 500 index was 0.4% up, though the Nasdaq was marginally down.
Business and economics
- The Times: Retail sales have had their worst start to a year since 2013 as figures suggest higher prices are having an effect on shopping habits, retail sales volumes rose by barely 0.1% between December and January, below economists’ forecasts of a monthly rise of 0.5%.
- The Times: The boom in online shopping in the UK and continental Europe continues to drive demand for warehouses, leading Segro to increase its portfolio by a fifth this year simply to keep up.
- Financial Times: Several new offshore oil and gas projects pushed Eni’s production to a record level last year and helped the Italian group increase fourth-quarter profits 55%.
- The Times: EDF has claimed that a new nuclear reactor it is developing will be a better and cheaper version of the two it is building in Britain.
- The Daily Telegraph: AstraZeneca received a boost on Friday evening, after US regulators approved expanded use of its immunotherapy drug, Imfinzi, for lung cancer.
- Daily Mail: Mulberry last night pledged to continue making its leather goods in Somerset in a vote of confidence for Brexit Britain.
- Financial Times: The threat of a renewed power struggle over control one of Russia’s most valuable companies knocked more than $2.5 billion off Norilsk Nickel’s market capitalisation on Friday, as investors balked at the prospect of a legal battle between three of the country’s most powerful oligarchs.
- The Daily Telegraph: Estate agent-backed online portal OnTheMarket attempted to reassure investors a week after its lacklustre listing on London's junior Aim market, saying it had hit the ground running to sign up new agents.
- Daily Mail: Another £450 million could be set aside by Lloyds to compensate victims of the PPI mis-selling scandal.
- Daily Mail: Britain's biggest toy shop chain Toys R Us could collapse next week after being hit with a £15 million tax bill.
- Financial Times: Carlos Ghosn has defended Renault’s corporate governance after the group decided to reinstate the 13-year chief executive for another term, sparking an issue that risked overshadowing the carmaker’s record annual financial results.
- The Guardian: Chelsea FC owner Roman Abramovich is preparing for a London court battle with two other billionaire Russian oligarchs over control of Russia’s biggest mining company.
- Financial Times: A $22 billion bet against European stocks by Bridgewater, the world’s largest hedge fund, has seen it build large short positions in companies that generate the majority of their business outside the continent.
- The Daily Telegraph: Switzerland's financial regulator has responded to the booming interest in digital currencies such as bitcoin with a rulebook to support those involved in the market.
Share tips, comment and bids
- The Times (Tempus share tips): HOLD Standard Life Aberdeen.
- The Daily Telegraph (Questor share tips): BUY National Grid, Renew Holdings, Crest Nicholson Holdings.
- The Guardian: Balfour Beatty is part of a joint venture that has won a $1.95 billion (£1.38 billion) contract relating to building, financing and managing a new transport system at Los Angeles international airport (LAX).
- Financial Times: Russian state bank VTB has bought 29.1% of leading supermarket chain Magnit from founder Sergei Galitsky for Rbs138 billion ($2.45 billion), the companies said on Friday.
- The Daily Telegraph: Acacia Mining is weighing up selling a stake in its Tanzanian operations, in a move which could see it take a step back from the country as a bitter dispute with its government rages on.
- The Daily Telegraph (Comment): Don’t write off the North Sea – it is our last line of defence.