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.

Tuesday Papers: Shinzo Abe calls snap Japan general election

Tuesday Papers: Shinzo Abe calls snap Japan general election

Top stories

  • Financial Times: Shinzo Abe has called a snap general election that will decide whether Japan sustains its massive economic stimulus and shape the country’s future until the 2020 Tokyo Olympic Games and beyond.
  • The Daily Telegraph: The Bank of England has warned that British high street banks risk losing as much as £30 billion from defaults on credit cards and personal loans credit were the economy to take a turn for the worst.
  • Financial Times: Deloitte has confirmed that hackers accessed data on an email platform, forcing the ‘big four’ accounting firm to contact clients potentially affected by the cyber attack as well as government authorities.
  • The Times: Political deadlock in Germany is likely to delay the start of Brexit trade talks for several months, senior ministers fear.
  • Financial Times: Unilever has bought into the buoyant South Korean skincare market with the €2.27 billion acquisition of personal care group Carver Korea.
  • Financial Times: Labour has vowed to nationalise private finance initiative contracts as part of plans to roll back private sector involvement in UK public services, in a move that could leave many PFI investors out of pocket.

Business and economics

  • The Guardian: Oil prices jumped to their highest for more than two years on Monday after major producers said output cuts were squeezing supplies.
  • The Guardian: London and Frankfurt will lose out to New York and Singapore unless a free trade deal on financial services after Brexit is agreed, according to leading City businesses.
  • The Times: BP has begun production from its biggest new project this year, a $12 billion development using fracking techniques honed in America to tap gas deep beneath the desert in Oman.
  • Financial Times: US-based ride-hailing company Lyft has put the UK on the shortlist of international markets it is looking at to expand as its competitor Uber fights to overturn a planned ban in London.
  • The Guardian: The UK arm of Aldi has announced a third consecutive year of falling profits as the German discounter struggles to maintain cheaper prices against its supermarket rivals.
  • Financial Times: Shares in Norwegian Air rose 4% in Oslo as investors digested Friday’s announcement that the US Department of Transportation had given the go-ahead for the low cost airline’s UK subsidiary to fly to US cities.
  • The Times: Ultra Electronics, the defence contractor, has won a £37 million from BAE Systems Maritime-Submarines for the final development and production of a hybrid electric propulsion system for the Royal Navy.
  • The Daily Telegraph: Aston Martin has become a title sponsor of Formula 1 team Red Bull Racing as the car company increases its participation in the sport.
  • Financial Times: The incoming chief executive of Novartis, Vas Narasimhan, has vowed to slash drug development costs, eyeing savings of up to 25% on multibillion-dollar clinical trials as part of a “productivity revolution” at the Swiss drugmaker.
  • The Times: Indivior has reached a settlement with an American generic drugs rival in its latest attempt to protect its drug addiction treatment from competition.

Share tips, comment and bids

  • The Times (Tempus share tips): BUY Ryanair; HOLD HICL Infrastructure.
  • The Daily Telegraph: The microchip designer ARM is attempting to position itself as a white knight ready to save its struggling rival Imagination if a Chinese takeover is blocked.
  • The Daily Telegraph: Low-cost airline easyJet appears to have beaten its rivals in snapping up parts of the insolvent European carrier Air Berlin.
  • Financial Times: Swiss engineering group ABB has bought General Electric’s underperforming Industrial Solutions division for $2.6 billion, putting on hold its $3 billion share buyback programme as a result.
  • The Daily Telegraph: Private equity house Dunedin will float the City consultant Alpha on the London stock market next month, making it the latest financial services firm to plan a listing as the UK initial public offering market splutters back to life.
  • Financial Times: JC Flowers is looking to sell its remaining 20%-plus stake in Shinsei Bank, the Japanese lender that the US group resurrected and turned around in one of global private equity’s most lucrative deals.
  • Financial Times: Bullitt Group, the UK designer of specialist mobile phones, has sold a majority stake to private equity company Exponent and appointed industry veteran Pieter Knook as its new chairman.
  • Financial Times (Lex): Nets/Hellman & Friedman: consolidation is needed among European payments systems providers.
  • Financial Times (Lex): Unilever and ABB: different strategies lead to different purchase multiples.
  • Financial Times (Lex): Deliveroo: competition is going to force standards up and prices down in hotly contested sector.
  • Financial Times (Lex): China real estate: Evergrande’s investors should worry about leverage, not state intervention.
  • Financial Times (Lex): AIG: reshuffle of deckchairs leaves investors unmoved.

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 Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Play Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Sophie Earnshaw talks through what Xi Jinping's 'new era' means for investors. and why Chinese tech offers some of best growth stocks in the world.

Read More
Your Business: Cover Star Club

Profile: JM Finn on why the future is with financial planners

Profile: JM Finn on why the future is with financial planners

There is a lot of work on pension consolidation and Sipps have been a big driver there, says JM Finn chief executive

Wealth Manager on Twitter