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Thursday Papers: Theresa May wins vote of confidence

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Thursday Papers: Theresa May wins vote of confidence

Top stories

  • Financial Times: UK Prime Minister Theresa May has survived an attempted coup by Eurosceptic Conservative MPs, but the confidence vote saw her authority shaken and her party bitterly divided.
  • The Times: J Sainsbury’s stocks declined by more than 7% on Wednesday amid growing concerns that its £12 billion merger with Asda could be scuppered by regulators.
  • The Daily Telegraph: Dixons Carphone’s has swung to a £440 million loss in the first-half on the back of hefty charges associated with its ailing mobile phone business.
  • Financial Times: Elliott Management has built a €1 billion stake in Pernod Ricard in an attempt get higher margins and better governance at the French drinks group.
  • Financial Times: UK outsourcer Amey is likely to be sold to a private equity firm in the new year; Ferrovial is in talks with PAI Partners and Greybull Capital over a potential sale of the business.
  • The Daily Telegraph: Michael Cohen, former aid of US President Donald Trump, was sentenced to three years in prison on Wednesday, insisting it had been his job to cover up Trump’s “dirty deeds”.

Business and economics

  • The Guardian: Business leaders have urged MPs to move on from infighting after Theresa May survived a vote of no confidence in her leadership, while urging the government to avoid a no-deal Brexit.
  • The Guardian: British aerospace firm Rolls-Royce is stockpiling parts and moving some regulatory approvals to Germany as it prepares for a possible hard Brexit.
  • The Daily Telegraph: Free-to-use digital payment firm Revolut has received a licence to operate in Europe from next year, reducing its dependence on the UK after Brexit.
  • Financial Times: Global airlines will experience a 10th consecutive year of profitability in 2019 thanks to a strong economy and lower oil prices.
  • Financial Times: Investors were unimpressed by Credit Suisse’s plans to buy back as much as SFr3 billion of shares and modestly increase its dividend.
  • The Daily Telegraph: The struggling cigarette maker British American Tobacco has said that it will achieve its profit and sales forecasts this year, in a rare piece of good news for the company.
  • The Times: Inditex, the parent company of Zara, has registered slower than expected growth in the first nine months of this year owing to unseasonably warm weather this autumn.
  • The Daily Telegraph: Superdry shares crashed by more than a third after the retailer issued its second profit warning in less than two months on the back of warm weather.
  • Daily Mail: Losses at kitsch middle-class retailer Cath Kidston more than doubled to £42 million last year, which the company blamed on higher costs.
  • The Daily Telegraph: Eleven Sports, a streaming service that aimed to become the "Netflix of sport", is at risk of closure following its failure to secure distribution via established pay-TV operators.
  • The Times: President Trump has criticised Federal Reserve chairman Jerome Powell for being “far too aggressive” with rate increases and warned Fed policymakers that they would be “foolish” to raise interest rates next week.
  • The Times: The average number of listed properties per branch fell to a near-record low, according to the residential market monthly survey by the Royal Institution of Chartered Surveyors.

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