Friday Papers: IAG weighs buying Norwegian Air Shuttle
- 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.