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Tuesday Papers: Carlos Ghosn faces removal at Nissan after arrest

Tuesday Papers: Carlos Ghosn faces removal at Nissan after arrest

Top stories

  • Financial Times: Nissan’s long-serving boss Carlos Ghosn was arrested on Monday and faced removal after the Japanese carmaker accused him of misleading investors about the size of his salary and misusing company assets for personal gain.
  • The Daily Telegraph: Tory rebels have admitted an attempt to unseat Theresa May has stalled as bitter in-fighting broke out among Brexiteers.
  • Financial Times: Chinese investigators have found “massive evidence” of anti-competitive behaviour by the world’s top three makers of computer memory chips - Samsung Electronics, SK Hynix and Micron Technology.
  • The Times: Apple chief executive Tim Cook has warned that new regulations for the technology industry are “inevitable”, after a series of scandals that have rocked the sector over the past year.
  • The Times: TSB has hired Debbie Crosbie a senior executive at CYBG, as its new boss.
  • Financial Times: Foreign investors in Italy’s bond market shed a net €1.5 billion of government debt in September.
  • Financial Times: London will no longer be the first port of call for European governments selling bonds, as the bulk of business moves to Milan before Brexit.

Business and economics

  • The Guardian: Wall Street dropped sharply on Monday as big technology companies led losses, and fears over an escalating trade war with China rattled investors.
  • Financial Times: Vitol’s profits plunged during the first six months of this year as the world’s biggest independent oil trader struggled with volatile energy markets and tough trading conditions.
  • The Times: Vodafone’s new boss Nick Read has backed Huawei, the Chinese telecoms supplier that is under scrutiny from the government amid concerns about risks to national security.
  • Financial Times: California wildfires will cost the insurance industry between $9 billion and $13 billion, according to new estimates from modelling firm RMS.
  • The Daily Telegraph: Grant Thornton has appointed restructuring expert Dave Dunckley as its new chief executive.
  • The Times: The new owner of Johnston Press came under pressure yesterday when the Pension Protection Fund and MPs questioned the treatment of its 5,000 pension fund members.
  • The Times: BHP Billiton, the world’s biggest mining company, has agreed to pay about £300 million to solve a long-running dispute with Australia’s tax authorities.
  • Financial Times: Société Générale will pay more than $1.3 billion to settle a case involving the handling of dollar transactions in violation of US sanctions.

Share tips, comment and bids

  • The Times (Tempus share tips): BUY Faroe Petroleum; HOLD The Restaurant Group.
  • Daily Mail: AJ Bell is on track to float next month which will net its founder a £140 million fortune.
  • The Daily Telegraph: Mod Resources, which is currently traded on the Australian Stock Exchange, is to announce a listing on the London Stock Exchange tomorrow as it looks to put a copper project in Botswana into production.
  • The Times: Revenues at JD.com, the New York-listed Chinese ecommerce group, missed expectations with its third-quarter results amid a consumer spending slowdown in China.
  • Financial Times: Shareholders in Fairfax Media have overwhelmingly backed a proposed $1.6 billion buyout by Nine Entertainment.
  • Financial Times: Bridgepoint, the private equity owner of MotoGP, has hired advisers to prepare the company that owns the international motorcycle racing series for a sale.
  • The Daily Telegraph (Comment): Macron and Merkel remain miles apart over any EU ‘grand bargain’.
  • The Times (Comment): Odey isn’t being odious by betting against the pound, he’s doing his job.
  • The Times (Comment): Brexit is obscuring a long to-do list, but other big issues are not going away.
  • Financial Times (Comment): Will $40bn of asset sales be enough to fix GE?

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