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Friday Papers: May vows to fight for her Brexit deal

Friday Papers: May vows to fight for her Brexit deal

Top stories

  • Financial Times: Theresa May was struggling to salvage her Brexit deal and her own position as prime minister after key ministerial resignations.
  • The Daily Telegraph: Patisserie Valerie chief executive Paul May has quit with immediate effect after accounting scandal; turnaround specialist Stephen Francis has been hired as replacement.
  • The Times: Retail sales fell at their fastest rate for six months in October as mild weather hit sales of winter clothing and Britons cut back their spending on home appliances and electronics.
  • Financial Times: Greg Coffey, one of London’s best-known hedge fund traders, is planning to relocate his company to New York next year.
  • Financial Times: In a bid to boost transparency and effectiveness, the US Federal Reserve will launch a sweeping assessment of its monetary policy tools and the way in which it communicates its decisions in 2019.
  • Financial Times: Saudi Arabia prosecutor exonerated Crown Prince Mohammed bin Salman and sought death penalty for five of 11 suspects indicted over the murder of journalist Jamal Khashoggi.

Business and economics

  • Daily Mail: The value of the pound tumbled almost 2% against the euro and the dollar after a day of political plotting in Westminster sparked fears the UK could leave the EU without a deal.
  • Daily Mail: Supermarket Asda has boosted sales, welcoming 115,000 new customers through its doors as it notched up a 2% increase in same-store sales during the three months to 30 September, its sixth consecutive quarter of growth.
  • The Daily Telegraph: Investec’s profits surged 96% in the UK after the South African banking giant advised on a string of multi-billion pound deals over the summer.
  • Daily Mail: Aston Martin shares tumbled 7% as its first results as a listed company disappointed investors despite third-quarter revenues jumping 81% to £282.4 million.
  • The Times: Qinetiq is on track for results that match City forecasts as the £1.2 billion defence technology company won several contracts in the US and with the Ministry of Defence.
  • The Daily Telegraph: Royal Mail to continue to pay out bumper dividends despite a huge slump in profits.
  • Daily Mail: Hugo Boss is pushing into Asia and planning to quadruple its online business by 2022 in a bid to revive its fortunes.
  • The Times: The alternative asset management company Intermediate Capital Group scooped a record €6.1 billion of new mandates in its first half.
  • The Times: Great Portland Estates has insisted it is in a position to spend £1 billion on property in the event of a market downturn.
  • The Daily Telegraph: UK oil company Premier Oil will begin test drilling at its billion-barrel Zama oilfield in the Gulf of Mexico within weeks.
  • Financial Times: Car sales in China could remain flat in 2019 due to the trade war between Beijing and Washington, Volkswagen’s top executive in the country has said.
  • Financial Times: Ford is in talks with rivals about investing “billions” in Argo AI, its self-driving vehicle unit.
  • The Times: Wonga administrators have disclosed that the defunct payday lender’s assets are worth only a fraction of the value estimated when it collapsed over the summer.
  • The Guardian: The family of a victim of the Lion Air crash has started legal action against Boeing.
  • The Times: Camelot might move to court against a rival lottery company, Lottoland, that has started taking bets on a new draw called Euromillionaire, which Camelot says is illegal.
  • The Guardian: The UK’s scheme for ensuring power supplies during the winter months has been suspended after a ruling by the European court of justice that it constitutes illegal state aid.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): BUY Polar Capital Tech; SELL TR European Growth.
  • The Times (Tempus share tips): BUY 3i; AVOID Learning Technologies.
  • Financial Times: Forest City shareholders approved the sale of the real estate developer for $11.4 billion to Brookfield Asset Management on Thursday, defeating the founding Ratner family who had sought to block the deal.
  • The Guardian: Beyoncé’s company Parkwood has bought out the British tycoon’s 50% share in Ivy Park, the clothing label she launched with Green’s Arcadia Group in 2016.
  • The Daily Telegraph: Struggling low-cost airline Flybe has sold part of its Exeter headquarters in a bid to raise cash for "general working capital".
  • The Daily Telegraph: The Restaurant Group's bid to acquire Wagamama has received a much-needed boost after an influential proxy shareholder, ISS, advised in favour of the £560 million deal.
  • The Times: Ineos has agreed to buy Ashland Global Holdings’ entire composite business for $1.1 billion.
  • The Daily Telegraph (Comment): Watch the economy surge if a Brexit deal is delivered.

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