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.

Wednesday Papers: Hedge funds warm up to prospects of a pound rally

Wednesday Papers: Hedge funds warm up to prospects of a pound rally

Top stories

  • Financial Times: Hedge funds have turned optimistic on the pound’s prospects as the UK economy, dogged by Brexit fears, has proved to be more resilient than many expected.
  • The Daily Telegraph: Theresa May has allowed Huawei to help build Britain's new 5G network defying security warnings from the US and some of her most senior ministers.
  • The Times: Wall Street hit a new high tonight to cap a turnaround from a December sell-off following upbeat earnings.
  • Financial Times: The asset management arms of Deutsche Bank and UBS are in serious talks to merge that would create a European champion with €1.4 trillion of assets under management.
  • Financial Times: SoftBank founder Masayoshi Son lost more than $130 million in a personal bet on bitcoin.
  • The Times: Oil prices surged to their highest level in six months after the US said it would take a harder line against countries that breach its oil embargo on Iran.

Business and economics

  • The Guardian: Harley-Davidson registered a 27% drop in profits in the first quarter blaming European taxes on imports of its gas-guzzling hogs, prompting Donald Trump to vow retaliation against the EU.
  • The Guardian: Majestic Wine is considering selling all of its British shops and becoming an online-only operation under the Naked Wines brand.
  • The Daily Telegraph: Snapchat said on Tuesday that its user base had shot up from 186 million to 190 million since the beginning of 2019, surpassing analysts' expectations for the speed of its recovery.
  • Daily Mail: Twitter shares have surged 16% after the social networking company's profits tripled to £147 million.
  • The Daily Telegraph: The world’s largest arms business Lockheed Martin has reported a $2.7 billion jump in revenues to $14.3 billion in the first quarter, thanks to faster production of the F-35 stealth jet and rising demand for missiles.
  • The Times: Procter & Gamble reported its strongest quarterly sales growth in nearly eight years yesterday.
  • The Daily Telegraph: Coca-Cola boosted revenues and met forecasts in the first three months of the year helped by Brexit stockpiling and acquisition of Costa Coffee.
  • Daily Mail: Thomas Cook shares jumped 18.3% after reports suggested the travel company has been approached by suitors about a possible takeover.
  • The Daily Telegraph: British digital bank Revolut faces cancellation of its European banking licences amid fresh questions over its alleged links to the Kremlin.
  • Financial Times: Samsung Electronics has delayed the retail launch of its highly anticipated foldable smartphone due to screen defects.
  • Financial Times: US aerospace supplier United Technologies said more than $80 million could be wiped off its earnings this year after Boeing’s decision to cut production of its troubled 737 Max aircraft.
  • The Daily Telegraph: Virgin Media boss Tom Mockridge is to depart from his role as chief executive; he will be replaced by Lutz Schüler, who currently serves as chief operating officer.
  • The Times: The co-founders of Fevertree Drinks got a total pay of more than £7 million last year after smashing performance targets linked to a long-term incentive scheme.
  • The Times: Former executive chairman of Patisserie Valerie, Luke Johnson, has taken the “unusual” step of joining a committee of creditors to the failed café chain.
  • Financial Times: Ferrexpo has clashed with its auditor over the links between its chief executive and a charitable foundation being investigated for possible discrepancies in the use of funds.
  • The Daily Telegraph: BT bosses at its London headquarters were more closely involved in an accounting scandal embroiling the company’s Italian unit than it previously admitted, investigators have alleged.
  • The Times: The City regulator authorised London Capital & Finance even though it was linked to a company that the watchdog had already censured, it has emerged, raising fresh questions over its handling of the investment firm.

Share tips, comment and bids

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: how Tiller believes it's cracked robo-profitability

Profile: how Tiller believes it's cracked robo-profitability

Ian Cadby and Jonathan Wauton of Tiller Investments believe they have developed the next generation of digital wealth platform.

Wealth Manager on Twitter