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Sunday share tips: Smiths Group, Capita
Smiths Group was a 'hold' for the Sunday Times' Inside the City column as chief executive Andy Reynolds Smith puts his shirt on full-year results from the engineering conglomerate in the autumn.
Sunday newspaper round-up: UK growth, Sainsbury-Asda, bookies, Capita, Apple
Traders fear the pound is about to come under further selling pressure amid mounting evidence that the economy is grinding to a halt. An ominous new survey, published today by the CBI, suggests that the first quarter’s dismal growth figures are the start of a prolonged economic slowdown rather than a weather-related blip. - Sunday Times.
Europe does not 'need' the City - Barnier
Michel Barnier, the European Union's chief negotiator, slapped down the the City of London and Mark Carney's claim that the bloc needs the square mile's financial services industry and said to stop "pleading" for mutual recognition and make do with 'equivalence' like Wall Street instead.
Thursday newspaper round-up: Brexit, trade, Unilever, water
David Davis has been accused by Brussels of engaging in “fantasy” politics after he claimed that an EU trade deal could be ready for ratification by March next year. The Brexit secretary told MPs yesterday that the government intended to have a political trade partnership deal in place by October, and that it could be turned into a legal treaty in time for Britain’s official EU departure date. - The Times.
Santander UK: Spanish bank's crown jewel loses shine
Banco Santander started off the banking sector’s results in Spain, with a strong profit of €2. 05bn up 10% undermined by a 23% decline in earnings from the UK business.
Wednesday newspaper round-up: Brexit, banks, food, Capita, fracking
The City will maintain access to European markets after Brexit if British regulations are similar enough to its own, the vice-president of the European Commission has said. Valdis Dombrovskis said that UK banks probably could use a system of equivalence to secure EU access after Britain leaves the bloc. However, he warned that Brussels had a “unilateral and discretionary” say over whether regulation would be strong enough. - The Times.
Thursday newspaper round-up: Housing, Porsche, Bank of England, oil
Rogue landlords should have their properties confiscated by local councils, according to a cross-party report from MPs into Britain’s private rented sector. Current financial penalties are “meaningless” in deterring the worst, criminal offenders among landlords, according to the housing, communities and local government committee. - Guardian.
Tuesday newspaper round-up: Trade, China, housing, UK tech
The threat of a trade war between the United States and China is unnerving business leaders and hitting the entire global economy, the head of the World Trade Organisation has warned. Roberto Azevêdo, the WTO director-general, said that “just the possibility” of an escalation in the dispute between the two countries was having an impact on corporate investment decisions. - The Times.
Sunday share tips: Flybe, Meggitt
Flybe is a share to avoid, said John Collingridge in the Inside the City column in the Sunday Times. The regional airline recently spiked on a takeover offer from Stobart Group and there looks likely to be, based on IAG's move for Norwegian Air Shuttle last week, plenty more consolidation to come among airlines, but the board dismissed the approach.
Sunday newspaper round-up: Hammerson, WPP, Whitbread, BAE
The FTSE 100 shopping centre owner Hammerson could decide to renegotiate or even abandon a £3. 4bn merger with a rival this week. The board is expected to meet amid growing investor unrest over a proposed tie-up with Intu, whose properties include the Trafford Centre in Manchester. - Sunday Times.
Tuesday newspaper round-up: WPP, auditing, trade, food
The outcome of an inquiry into the personal conduct of Sir Martin Sorrell could be published as early as next week as potential successors for the top position at WPP continue to emerge. WPP, the world’s largest advertising agency, hopes that publishing the findings of an investigation into its long-serving chief executive next week will draw a line under a scandal that has left the group and Sir Martin vulnerable. - The Times.
Wednesday newspaper round-up: Tariffs, Brexit, pay, Facebook
The Trump administration has raised the stakes in a growing trade showdown with China by placing 25% tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing’s intellectual property practices. The US announcement targets about $50bn of estimated 2018 imports and is aimed at hampering China’s efforts to upgrade its manufacturing base. The goods include electronics, aircraft parts, medicine and machinery. - Guardian.
Tuesday newspaper round-up: Pharma, China, De La Rue, Conviviality
Two of the UK stock market’s biggest pharmaceutical companies have made millions of pounds in “secret” payments to healthcare professionals and organisations, an investigation by The Times has found. At least €22. 3m (£19. 6m) was made in anonymous payments across Europe, including €17. 9m by Astrazeneca, the Cambridge-based company, and €4. 4m by Shire, the rare diseases and neuroscience specialist, the research showed. The figures cover payments such as consultancy fees and “related expenses” and travel and accommodation for events organised or sponsored by the companies.
Sunday share tips: Fulcrum, Greene King, Primary Health
A trip of share recommendations from the tipsters at the Sunday Times, Sunday Telegraph and Mail on Sunday.
Sunday newspaper round-up: Manufacturers, Shire, Rolls, Barclays
Shire is facing pressure from shareholders to find a deep-pocketed suitor as a Japanese rival weighs a potential £35bn bid for the vulnerable drug maker. Investors said the Shire board should seek alternative buyers after Takeda revealed last week it was considering an approach for the FTSE 100 rare disease specialist. - Sunday Times.