Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Saturday Papers: Facebook shares fall as Sandberg defends position

Saturday Papers: Facebook shares fall as Sandberg defends position

Top stories

  • Financial Times: Facebook’s share plunged on Friday as Sheryl Sandberg, chief operating officer, came under increasing pressure to resolve the social network’s crisis.
  • The Daily Telegraph: Michael Gove and four other Eurosceptic Cabinet ministers will try to force Theresa May into a last-minute change to the Brexit deal.
  • The Times: Johnston Press, owner of The Scotsman and the i newspapers, collapsed into administration last night after it failed to find a buyer.
  • Financial Times: Shares in Nintendo and its Switch graphics unit supplier Nvidia plunged after another spate of gloomy outlook statements by computer chipmakers hit the electronics market.
  • Financial Times: Richard Branson is making his first move into the US rail market having agreed to a strategic partnership with Brightline.
  • Financial Times: Deutsche Bank, Bank of America and JP Morgan Chase have become embroiled in the criminal probe of Danske Bank’s €200 billion money-laundering scandal.

Business and economics

  • The Daily Telegraph: The Russian energy-to-aluminium producer EN+ Group revealed that its net profits for the first nine months of the year climbed by over 80% to $1.62 billion and warned that it is yet to take the full brunt of US sanctions.
  • Daily Mail: RBS now won’t have to hold extra cash to protect itself against the risk of future collapse as it has been dropped from a list of the world's most important banks.
  • Daily Mail: Short sellers are raking in millions of pounds betting against sterling and big UK companies as Brexit turmoil grips the markets.
  • The Guardian: Confederation of British Industry has warned MPs that rejecting the prime minister’s Brexit deal would lead to shortages and prevent vital supplies reaching the public.
  • The Daily Telegraph: Rolls-Royce chief executive Warren East has appealed lawmakers to arrive at a “practical” Brexit deal for the good of UK business.
  • The Daily Telegraph: The Gambling Commission has started looking for bidders to take over the National Lottery operating licence, putting Camelot’s long-term monopoly under threat.
  • The Guardian: Virgin Media and EE have been fined more than £13 million by Ofcom for overcharging customers.
  • Financial Times: Volkswagen is set to invest €44 billion on technologies for electric cars, autonomous driving and new mobility services, such as ride-sharing, over the next five years.
  • The Guardian: Luke Johnson, Patisserie Valerie’s executive chairman, is understood to have hired John Gibson, a former top prosecutor at the Serious Fraud Office.
  • The Daily Telegraph: AstraZeneca's most important oncology drug has failed in the final results of a clinical trial in improving survival rates in patients with late-stage lung cancer than chemotherapy.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): HOLD Royal Mail; HOLD National Grid; HOLD Premier Oil bonds; HOLD Regional Reit.
  • The Times: Rebel shareholders trying to block the £46 billion takeover of Shire by Takeda are seeking support of an influential member of the Japanese company’s founding family.
  • The Daily Telegraph: Construction company Kier has sold its Australian road maintenance business KHSA for £24 million in a bid to reduce its rising debt and concentrate on its core markets.
  • Financial Times: Apple has entered into a new partnership with A24, in which the New York-based studio will produce several original films for the iPhone maker.
  • The Times (Comment): Brexit will take a heavy toll, but could herald an economic rebirth.
  • The Guardian (Comment): Does Apple's sales slump mean the firm has finally peaked?
  • The Daily Telegraph (Comment): Facebook’s founder is running out of time.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
2 Comments Play Tim Steer: how to spot a stock disaster coming

Tim Steer: how to spot a stock disaster coming

The former Citywire AAA-rated fund manager has written a book on 22 stock disasters and how forensic examination of annual reports could have spotted them coming.

Play CEO tapes: the gap between best and worst alternatives is stark

CEO tapes: the gap between best and worst alternatives is stark

In the final part of our series we take a look at the rise of illiquid investing and whether it really serves in clients best interests.

Play CEO Tapes: dangerous data and great technology

CEO Tapes: dangerous data and great technology

In the third part of our latest series the debate turns to technology and the huge impact it is having on the fund management industry.

Read More
Wealth Manager on Twitter