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Friday Papers: Hitachi shelves new Welsh nuclear plant

Friday Papers: Hitachi shelves new Welsh nuclear plant

Top stories

  • Financial Times: Hitachi has abandoned its £20 billion nuclear power station project at Wylfa in Wales in a move that triggers questions on the future of UK energy policy.
  • The Daily Telegraph: Theresa May will face mass resignations if MPs are barred from trying to stop a no-deal Brexit, cabinet ministers have warned.
  • Financial Times: The British sports car brand Lotus will begin manufacturing in China within three years, according to its Chinese owner Geely.
  • The Times: Two tobacco groups - Japan Tobacco International and Imperial Brands - that supported Palmer & Harvey will receive less than 33% of the amount that they paid to shore up the wholesaler before it collapsed into administration.
  • Financial Times: Germany is moving to prevent Huawei from supplying its next-generation mobile phone network, bowing to pressure from Washington to block the Chinese maker of telecoms equipment over espionage fears.
  • Financial Times: Morgan Stanley missed profit forecasts as its trading business fell sharply, dealing a blow to Wall Street bulls at the end of a previously positive bank earnings season.

Business and economics

  • The Guardian: Netflix added 8.8 million paid subscribers in the last quarter, up 34% compared with the year-earlier period.
  • The Times: GVC Holdings raised its full-year earnings forecast after a strong final quarter.
  • The Times: Experian, the world’s largest credit rating agency, has said that demand for its data services is growing and reported a 5% revenue increase between October and December.
  • The Times: The software developer Sage reported a steeper rise in subscription revenues than expected over the past three months, sending shares as much as 8% higher yesterday.
  • The Guardian: Sales at Primark’s established UK stores rose 3% over the Christmas period the as the cut-price fashion chain focused on the high street and continued to keep away from the internet.
  • Daily Mail: Online estate agency Emoov is set to relaunch under new management just one month after going into administration.
  • The Daily Telegraph: Funding Circle said revenues and loans under management would beat previous guidance by soaring 55% for the fourth quarter of 2018.
  • The Guardian: Philips plans to close its last manufacturing plant in the UK, putting 430 jobs at risk.
  • The Times: Taiwan Semiconductor Manufacturing, which supplies Apple, Huawei and other smartphone makers, warned that revenue would fall sharply in the first quarter.
  • The Times: Chemring incurred a £105 million loss after the death of one of its workers in an explosion at its factory in Salisbury.
  • The Guardian: Whitbread, the owner of the UK’s biggest hotel brand, Premier Inn, has said bookings outside London are falling as travellers tighten their purse strings.
  • Daily Mail: Shares in Simply Be owner N Brown tumbled after it revealed disappointing Christmas trading figures as revenues fell 1.6% in the 18 weeks to 5 January.
  • The Guardian: Moody’s has said Debenhams will struggle to refinance its debts without raising new funds.
  • The Times: Demand for mortgages and credit card lending is expected to fall sharply in the next three months, according to a survey by the Bank of England.
  • The Daily Telegraph: Apple’s chief executive Tim Cook has attacked a “shadow economy” in which people’s personal data is bought and sold without their knowledge and called for the US to introduce a national privacy law.
  • The Times: Mike Turner has stepped down as chairman of Babcock International, the stumbling defence contractor.

Share tips, comment and bids

  • The Times (Tempus share tips): BUY John Menzies; BUY Tritax Big Box.
  • The Daily Telegraph (Questor share tips): SELL Fidelity Asian Values; BUY Aberdeen Standard Asia Focus.
  • The Guardian: Royal Bank of Scotland is looking to acquire up to £1.4 billion worth of shares from the government as part of efforts to cut the publicly owned stake in the lender, following its 2008 bailout.
  • The Times: Mike Ashley’s Sports Direct has shot down attempts to move Game Digital’s listing to the junior Aim market.
  • Financial Times: Banking regulator BaFin has been asked by Germany’s finance ministry to share the results of its scenario analyses that model a potential merger of Deutsche Bank and Commerzbank.
  • Financial Times: Siemens and Alstom will not offer any further concessions to European regulators over plans to merge their rail operations.
  • Financial Times: Tencent and Alibaba have stepped on the brakes after a dealmaking binge that saw the duo mint an aggregate 243 investments last year.

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