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Friday Papers: IAG weighs buying Norwegian Air Shuttle

Friday Papers: IAG weighs buying Norwegian Air Shuttle

by Himanshu Singh Apr 13, 2018 at 04:45

Top stories

  • Financial Times: International Airlines Group, the owner of British Airways, is considering a takeover offer for Norwegian Air Shuttle after acquiring a 4.6% holding in the low-cost carrier.
  • The Daily Telegraph: An EU investigation has revealed Vladimir Putin’s abusive stranglehold over European gas supplies through state-controlled energy giant Gazprom that has used its enormous power to pressure vulnerable states in Eastern Europe, and to fragment the EU’s unified energy market with coercive pricing policies.
  • The Times: US President Donald Trump is considering a revival of the Trans-Pacific Partnership (TPP), which he abandoned in one of his first acts as president in January last year, on the mounting fears of trade war with China.
  • The Guardian: Volkswagen has appointed its brand manager Herbert Diess as the company's CEO replacing Matthias Müller.
  • Financial Times: Avast Software, the Czech cyber security company backed by CVC, has chosen London over New York for a $4 billion UK flotation in what would be one of the largest technology listings on the London Stock Exchange.
  • Financial Times: British hedge fund manager Crispin Odey has amassed a leveraged short position against UK government debt, targeting weaker prices for 30-year gilts via futures.

Business and economics

  • The Times: In its latest survey of credit conditions among retail banks, the Bank of England has warned that the rising debt level among consumers was a danger to financial stability; high street banks and building societies reacted by abruptly curbing the supply of credit to consumers, the Bank said.
  • The Daily Telegraph: Royal Dutch Shell is confident that the business will remain resilient in spite of a global push for cleaner energy system in its first major sustainability report.
  • Financial Times: The world’s largest asset manager BlackRock registered a sharp slowdown in inflows in the first quarter of 2018 after an increase in stock market volatility.
  • The Daily Telegraph: Shares in Greene King jumped 13.6% after the pubs owner stuck to its profit guidance, disappointing short-sellers who were expecting a downgrade in estimated profit.
  • The Times: Shares in Dunelm finished nearly 9% higher yesterday after the homeware retailer reported rising revenues in its third quarter and a surge in online sales.
  • The Times: Aim-listed fashion retailer Quiz registered a 30% growth in revenue boosted by strong growth from the online division.
  • Daily Mail: Mothercare suffered continued decline in like-for-like sales in the three months to 24 March due to lower footfall amid 'muted' trading conditions.
  • The Times: The stationery retailer WH Smith reported a 1.2% dip in pre-tax profits in the six months to 28 February, despite a solid performance at its travel business.
  • The Guardian: UK’s biggest carpet retailer Carpetright shares fell sharply as the company embarked on a restructuring process to stave off administration that may result into closure of 92 stores, with the potential loss of 300 jobs.
  • The Guardian: The UK’s biggest supplier of supermarket chicken 2 Sisters Food Group, which has been dogged by a controversy over food standards, is shutting down the Cambuslang factory in South Lanarkshire in August.
  • The Times: Toys R Us, which fell into administration in February, will close its final stores in just under two weeks, resulting in the loss of more than 2,000 jobs.
  • The Daily Telegraph: Goldman Sachs' boss Lloyd Blankfein, who has hinted in the past that the City could lose out to rival EU cities in the wake Brexit, has admitted to making a mistake, adding that he was surprised there hasn't "been a more dramatic effect".
  • The Times: The Institute of Directors said a poll showed that business leaders’ optimism about the economy has increased for the first time in almost a year after a Brexit transition deal with Brussels was agreed last month.
  • Financial Times: City of Birmingham Relief and Retirement System, one of the shareholders of Netflix, has filed a lawsuit against the video streaming group and its senior executives alleging it “rigged” a bonus scheme and issued “false and misleading” statements about it.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD Saga; HOLD Blackrock.
  • The Daily Telegraph (Questor share tips): BUY Fidelity Japanese Values.
  • The Guardian: The UK takeover panel has ruled that Disney will have to make a full takeover offer for Sky if it completes its $66 billion bid for Fox that owns a 39% stake in Britain’s biggest pay-TV broadcaster Sky.
  • Daily Mail: Glaxosmithkline has sold its portfolio of rare diseases unit to Orchard Therapeutics, a private biotech firm with bases in London, Boston and California.
  • The Times: Takeda Pharmaceuticals is seeking funds for a bid for Shire, the UK-listed drug company, which could be worth nearly £35 billion.
  • The Times: Playtech, the gambling software and financial trading group, has taken over Snaitech, one of Italy’s leading gambling operators for €846 million, from two Italian private equity funds.
  • Daily Mail: Shares in Game Digital plunged 11.5% yesterday after vulture US fund Elliott offloaded its entire stake worth £24 million in the company.
  • Financial Times: The truck divisions of rival motor companies Toyota and Volkswagen have joined hands to work together in electric vehicles and self-driving technology.
  • The Daily Telegraph (Comment): America faces a debt abyss but the politicians just sit on their hands.
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Comments  (5)

  • alan franklin: 

    Let's hope the dead hand of British Airways' owner doesn't grasp the innovative airline from Norway, Norwegian Air Shuttle.

    Having just landed an hour late an another abysmal BA flight, with three blocked toilets, no apologies and no explanations, I think BA should try and get its own businesses running properly before its appalling "management" reaches out to mismanage another airline.

    BA needs to start treating customers right as our outgoing flights a few weeks back were equally dismal, with uncomfortable seats, no legroom and yes, a blocked toilet. Is this a new tradition?

    BA now stands for B. Awful Airline.

    07:00 on 13 April 2018

  • alan franklin: 

    Let's hope the dead hand of British Airways' owner doesn't grasp the innovative airline from Norway, Norwegian Air Shuttle.

    Having just landed an hour late an another abysmal BA flight, with three blocked toilets, no apologies and no explanations, I think BA should try and get its own businesses running properly before its appalling "management" reaches out to mismanage another airline.

    BA needs to start treating customers right as our outgoing flights a few weeks back were equally dismal, with uncomfortable seats, no legroom and yes, a blocked toilet. Is this a new tradition?

    BA now stands for B. Awful Airline.

    07:00 on 13 April 2018

  • william barnes: 

    The stationery retailer ‘W H Smitch ‘

    Lol

    08:25 on 13 April 2018

  • Nick-: 

    The only Airline ever lost my luggage was BA! I will never ever use them again.

    11:55 on 13 April 2018

  • Graham Barlow: 

    Why does the EU cover up the stranglehold Putin personally has over the EU gas supplies from Gazprom? The EU would have you believe they control the world and its Trade. It is quite clear that if Vladimir Putin says Jump Merkel Macron and Co and all those in Brussels say with one voice :- "HOW HIGH".

    12:14 on 13 April 2018

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