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Tuesday Papers: GSK chairman to step down ahead of break-up

Tuesday Papers: GSK chairman to step down ahead of break-up

Top stories

  • Financial Times: Philip Hampton is to quit GlaxoSmithKline as chairman just a month after the UK drugmaker announced a break-up.
  • The Daily Telegraph: Jeremy Corbyn has bowed to pressure from Labour party members and MPs to endorse a plan to force a second EU referendum.
  • The Times: Researchers have predicted that more than 175,000 jobs will be lost from struggling high street stores over the next year as the boom in internet shopping hastens their decline.
  • The Times: Britain is expected to grow faster than Germany and Italy and just as fast as France after the International Monetary Fund left outlook for the UK unchanged at 1.5% this year and 1.6% in 2020.
  • Financial Times: Frustrated with the slow pace of Standard Chartered’s turnround, the bank’s largest investor Temasek is stepping up pressure on the UK-listed bank ahead of his pivotal strategy update in February.
  • Financial Times: Google was fined €50 million under the EU’s new privacy rules for failing to be transparent about how it uses data and not having a legal basis for personalising ads.

Business and economics

  • The Guardian: North-east England would suffer the biggest decline in economic output of any UK region by the middle of the 2030s in case of a no-deal Brexit, an analysis of government figures by Britain’s leading business lobby group.
  • The Times: Rolls-Royce has pitched its equipment for use in the proposed Chinese nuclear plant in Essex, in a fresh move to secure a central role in Britain’s nuclear revival.
  • The Guardian: Peter Plumb, the Just Eat chief executive, has resigned with immediate effect, only 16 months after he joined the British takeaway ordering website.
  • The Times: British Land yesterday ousted two of its longest-serving and highest-paid executive directors - Tim Roberts, head of offices, and Charlie Maudsley, head of retail, leisure and residential.
  • The Times: Superdry has hired a former Nike executive, Phil Dickinson, as creative director amid a continued public battle with its co-founder, Julian Dunkerton.
  • Daily Mail: Mountain Warehouse reported record Christmas trading following a surge in sales of socks, fleeces and gloves, defying the High Street gloom.
  • Daily Mail: William Hill shares plunged on Monday after the bookmaker said it expected full-year profits to fall 15%.
  • Financial Times: German glue and detergent maker Henkel has cut profit outlook for 2019 as it ramps up investment to spur growth.
  • The Times: Tesla has been given authorisation to start selling its cheapest and most popular Model 3 car in Europe.
  • The Daily Telegraph: Lenders to Patisserie Valerie fear multimillion-pound loans will be almost completely wiped out by the potential collapse of Luke Johnson's troubled bakery chain.
  • The Times: The trade conflict with the US and weakening domestic demand have left China’s economy growing at its slowest rate since 1990.

Share tips, comment and bids

  • The Times (Tempus share tips): HOLD C&C Group; SELL Animalcare.
  • Daily Mail: Mike Ashley looks to add another High Street chain to his growing retail empire as he plots to merge HMV with Game Digital.
  • Daily Mail: Elliott Advisors has is eying a stake in Dixons Carphone after a sharp fall in the struggling retailer's share price.
  • The Times: BAE Systems has sold a majority stake in the combat vehicles business for almost £30 million to Rheinmetall, the German group, in a deal that will safeguard more than 400 jobs.
  • The Daily Telegraph: US private equity giant Apollo Management will soon announce a deal to take over plastic packaging maker RPC for £3 billion.
  • The Daily Telegraph: Ineos’ plan to snap up North Sea oil fields from US major ConocoPhillips have been delayed yet again amid ongoing oil price jitters.
  • Financial Times: France’s Casino has offloaded a portfolio of hypermarkets and supermarkets to Fortress Investment Group, completing a €1.5 billion disposal programme announced last year.
  • Financial Times: French and German officials are scrabbling to save the Siemens-Alstom rail merger even as the European Commission prepares the grounds to block the deal.

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