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Monday Papers: Tesla short-sellers sitting on $1.2bn profit

Monday Papers: Tesla short-sellers sitting on $1.2bn profit

Top stories

  • Financial Times: Short-sellers are sitting on profits of more than $1 billion since Elon Musk tweeted his intention to take Tesla private.
  • The Daily Telegraph: Italy’s new government is drawing up a ‘Marshall Plan’ of up to €80 billion to rebuild the country’s dilapidated infrastructure following the collapse of the Morandi Bridge in Genoa last week.
  • The Times: J Sainsbury and Asda could be forced to sell up to 300 stores across Britain if the proposed merger of the two grocers moves ahead as per the plan.
  • Financial Times: China's banking regulator has ordered banks to boost lending to infrastructure projects and exporters as the government seeks to bolster confidence amid fears of trade war.
  • Financial Times: Hukan Samuelson, CEO of Volvo Cars, has called for the complete elimination of tariffs on cars between the US, China and Europe, calling to end a global trade war.

Business and economics

  • The Independent: Average property asking prices fell by more than £7,000 in August as more sellers came to the market, according to property website Rightmove.
  • The Daily Telegraph: Global dividend payments registered a 13% increase in the three months to June and inched towards the $500 billion mark.
  • Financial Times: Ryanair pilot unions are meeting in Frankfurt on Monday to discuss the possibility of further strikes.
  • The Daily Telegraph: Hermann Hauser, the co-founder of Arm Holdings, has said China will easily beat the US in a battle for control of the global semi-conductor market.
  • Financial Times: As the trade war between China and the US intensifies, there is a growing expectation that it could disrupt US banks’ plans to expand in mainland China.
  • The Times: The City UK’s project to work with Russia’s central bank and the state-backed Moscow International Financial Centre has been criticised by one of its own members.
  • The Guardian: The UK’s total manufacturing output stayed ahead of Brazil and Indonesia but slipped below France, reversing a recovery in its performance since the financial crash.
  • Financial Times: The Canada Pension Plan Investment Board plans to more than double the proportion of assets it allocates to China in the next seven years.
  • The Daily Telegraph: The Pensions Regulator has admitted in an update published this month that it had to drop 74 fines against fund trustees after messing up its enforcement timetable.
  • Financial Times: A survey of fund managers which collectively manage $ 14 trillion of assets has found that nearly two-thirds of assets managers are preparing for a “hard” Brexit scenario.
  • The Guardian: Energy prices are likely to rise again despite the introduction of the government’s price cap, a new analysis by the energy consultancy Cornwall Insight.
  • The Daily Telegraph: Like-for-like restaurant sales fell 4.8% in July due to soaring summer temperatures, according research released on Monday.
  • The Daily Telegraph: Excel, the exhibition centre in London, saw its pre-tax profits rise by 22.7% to a record £31.1 million in the year to 31 December 2017 after it hosted a string of new events.
  • The Daily Telegraph: The search for Esure’s next chief executive has been rattled by the company’s agreement to be taken over by Bain Capital for £1.2 billion.
  • The Daily Telegraph: Business leaders’ confidence in the economy has declined to its lowest point so far this year amid no-deal Brexit concerns, according to the monthly Institute of Directors tracker.

Share tips, comment and bids

  • Financial Times: Brussels is expected to clear the $80 billion merger between Linde, the German chemicals group, and its US rival Praxair on Monday.
  • Financial Times: Asia’s largest cosmetics group, Shiseido, is restructuring its acquisition strategy following an ill-fated expansion into the US with a $1.7 billion deal in 2010.
  • The Guardian (Comment): Greece's bailout is finally at an end – but has been a failure.
  • The Daily Telegraph (Comment): The NHS needs to cash in its data.
  • The Daily Telegraph (Comment): Britain is digging in for civil war over Brexit, destroying the pound.
  • The Times (Comment): An ageing population is posing problems that Britain cannot ignore.

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Profile: Altor's Towry graduates on launching a family business

Profile: Altor's Towry graduates on launching a family business

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