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Thursday Papers: Takeda strikes deal to acquire Shire for £46bn

Thursday Papers: Takeda strikes deal to acquire Shire for £46bn

Top stories

  • Financial Times: Irish drugmaker Shire's board has accepted the £46 billion takeover offer from Japanese pharmaceuticals company Takeda.
  • Financial Times: US cable group Comcast has made a £22 billion offer for Sky, founded by Rupert Mudroch, gatecrashing Fox's plans to take full control of the pay-television company.
  • The Times: Whitebread will take 24 months to demerge the coffee shop chain, Costa Coffee, from its Premier Inn hotel division; the company was under pressure from shareholders to split the businesses.
  • The Daily Telegraph: The Cambridge Analytica scandal does not seem to have affected Facebook profits as the social network reported a 63% increase in quarterly profits.
  • Financial Times: Twitter reported a second straight quarter of profits but shares in the social media platform suffered after chief executive cautioned about the potential impact on user numbers of incoming EU data privacy rules.
  • Financial Times: WhatsApp has increased the minimum age for users in Europe to 16, in response to the EU’s new regulations on managing data before they come into force next month.

Business and economics

  • Financial Times: More than 40 companies in the UK have signed Plastics Pact to strip unnecessary plastic from their shelves by 2025 in order to fight pollution and change packaging standards.
  • Financial Times: GlaxoSmithKline’s shares fell yesterday after analysts expressed concerns about the steep decline in the sales of Advair, the UK drugmaker’s long-time respiratory blockbuster drug, which has lost patent protection.
  • The Times: Boeing reported 57% jump in profits in the first quarter, brushing off concerns about rising metals prices, a potential trade war with China and US President Donald Trump’s threat to pull out of a nuclear sanctions deal with Iran.
  • Daily Mail: Profits at the online fashion retailer Boohoo jumped 40% and sales nearly doubled due to an unstoppable shift towards online shopping and recent acquisitions.
  • Financial Times: Credit Suisse’s shares surged more than 4% after it reported a 57% rise in pre-tax profits for the first quarter.
  • Daily Mail: Lloyds Banking Group has registered a near-quarter rise in profits to £1.6 billion in the first three months of 2018, despite having had to set aside £90 million more money to compensate PPI victims.
  • The Guardian: Guardian News & Media (GNM), the publisher of the Guardian and Observer, halved its losses in the last financial year, and the company is now in the final year of a three-year plan to break even.
  • The Daily Telegraph: Despite posting record quarterly profits, Metro Bank shares slumped 7.3% over concerns of having to raise more cash to cover for a dent to the bank’s capital buffer.
  • The Times: Airbus has replaced BAE Systems with French company Dassault on its Eurofighter Typhoon project to build the next generation of European-built warplanes.
  • Financial Times: Chinese handset maker Xiaomi has announced that it will “forever limit the net profit margin after tax for its entire hardware sales to a maximum of 5%” just ahead of its IPO that is expected to see the company valued around $100 billion.
  • The Guardian: Car production in Britain has declined by 13% amid concern over falling diesel sales and the impact of Brexit on exports.
  • The Times: Dr Pepper Snapple has reported a drop in quarterly profits to $159 million, from $177 million a year earlier, ahead of its acquisition by Keurig.
  • The Daily Telegraph: Tullow Oil, the FTSE 250 company, has confirmed that it is shutting down all eight of its fields in North Sea by the end of the year.
  • The Guardian: Persimmon chief executive Jeff Fairburn's £75 million bonus was narrowly approved despite only one-third of Persimmon shareholders supporting the remuneration policy of the housebuilder.
  • The Daily Telegraph: French authorities have indicted business tycoon Vincent Bolloré on the charge of corruption and influencing elections in Africa.
  • The Guardian: The Competition and Markets Authority (CMA) is preparing to take secondary ticketing firm Viagogo to court for breaching consumer protection laws after the UK competition regulator said the website had ignored its demands to make changes.
  • The Times: Unilever chose to move base to the Netherlands on Dutch government's decision to abolish a corporate tax on dividends.
  • Financial Times: The world’s largest car parts supplier, Bosch, has announced a breakthrough that “drastically” cut nitrogen oxide emissions “10 times lower than limits set for 2020” for diesel engines.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD Tullow Oil; BUY Boohoo.
  • The Daily Telegraph (Questor share tips): HOLD Capita to take up right shares; HOLD Clarkson.
  • Financial Times: Bain Capital’s $18 billion acquisition of Toshiba Memory is at risk of suffering a “collateral damage” due to US-China trade dispute.
  • Financial Times: Japan’s SoftBank is planning to switch more than $20 billion of investments in some of the world’s largest ride-hailing groups, including Uber, Ola, Grab and Didi Chuxing, into its massive Saudi-backed Vision technology fund.
  • The Daily Telegraph: Ford has signalled it may be looking to sell operations in Europe, as the carmaker considers cutting an additional $11.5 billion in costs on top of the already announced $14 billion.
  • The Daily Telegraph: Building materials group CRH is to launch a €1 billion (£870 million) share buyback and sell up to €2 billion of its divisions in order to continue to fund its expansion.
  • Financial Times: Edward Bramson’s activist investment fund Sherborne has increased its holding from 5.16% of its voting rights to 5.41% in Barclays ahead of annual meeting on 1 May.
  • The Daily Telegraph (Comment): Let us have a snap Brexit election to decide on the poisonous customs union.
  • The Times (Comment): Deripaska may have to sacrifice himself for Russia’s common good.

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