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Saturday Papers: CIA warning over Huawei

And Qatar and Crown to buy stakes in iconic New York properties on Times Square and Fifth Avenue.

Saturday Papers: CIA warning over Huawei

Top stories

  • The Times: Huawei, the Chinese technology giant that wants to supply vital technology for Britain’s new 5G mobile network, has received funding from branches of Beijing’s state security apparatus, the CIA has warned.
  • Financial Times: Qatar’s sovereign wealth fund and US real estate group Crown Acquisitions are acquiring a stake in some of New York’s most iconic properties in Times Square and along Fifth Avenue.
  • The Daily Telegraph: BP has sealed a new pact with Azerbaijan to invest in the expansion of drilling in the giant Azeri-Chirag-Deepwater Gunashli oilfield complex.
  • Financial Times: Institutional Shareholder Services, a proxy adviser, has backed Barclays in its battle with an activist investor ahead of a showdown at the bank’s annual meeting next month.
  • The Times: Boohoo is set to report on Wednesday a bumper 54% jump in annual pre-tax profits to almost £66.7 million.

Business and economics

  • The Guardian: Schroders faces a shareholder backlash after Glass Lewis, an influential advisory firm, issued a warning about “excessive” bonuses and the appointment of a Schroder family member to its board.
  • The Daily Telegraph: Tesla has announced sweeping changes to its corporate structure that would weaken the power of its founder Elon Musk.
  • The Daily Telegraph: Uber has raised $1 billion in funding from Japanese technology giant SoftBank for its autonomous vehicle division ahead of its listing next month.
  • Financial Times: Nomura chief executive Koji Nagai has warned of large cuts to the group’s headcount in London as Japan’s biggest brokerage wrestles with the collapse of the trading business model.
  • The Daily Telegraph: Investment banks in Europe are stuck in “a twilight zone” as Britain prepares for a no-deal departure from the EU, said Simon Lewis, chief executive of European investment banking lobby group the Association for Financial Markets in Europe.
  • The Times: Private equity firm Terra Firma has been dealt another blow after its chief executive of less than three years left abruptly following clashes with its founder Guy Hands.
  • Financial Times: Cuadrilla said it was “ready” to frack a second well at a site near Blackpool, despite admitting previously that it was impossible to work within current rules governing the industry.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): Yes, it looks like Bank Rate has peaked at 0.75%. What does it mean for our stocks?
  • Financial Times: Canopy Growth’s bid for rival cannabis company Acreage Holdings was a $3.4 billion bet on cannabis becoming legal across the US as soon as next year.
  • The Guardian: American Media - led by CEO David Pecker - will sell National Enquirer and its two other tabloids to James Cohen, the owner of the Hudson News chain of airport newsstands, the companies said.

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