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Friday Papers: EU postpones Brexit with new cut-off dates

Friday Papers: EU postpones Brexit with new cut-off dates

Top stories

  • Financial Times: EU has postponed Brexit from next week until 12 April giving Theresa May a tight window to secure MP’s backing for her deal or plot another course.
  • The Times: Mike Ashley has lashed out at Philip Green in battle to take control of Debenhams as a pre-pack administration of the department store chain looking increasingly likely.
  • The Daily Telegraph: Next's boss has claimed there is no evidence that Brexit has knocked consumer spending; he revealed the clothing retailer would benefit by up to £15 million from the Government’s plan to slash tariffs in the event of a no-deal.
  • The Daily Telegraph: Levi Strauss’ shares surged in New York yesterday as the jeans maker began its second stint as a public company.
  • Financial Times: Four transactions at Wirecard totalling €2 million that are at the centre of a fraud investigation by police in Singapore were approved by the company’s senior executives in Germany.
  • Financial Times: Biogen’s shares nosedived more than 29% yesterday after the US drugmaker and its Japanese partner Eisai said they will cease trials of an experimental Alzheimer’s treatment.

Business and economics

  • Daily Mail: The Bank of England kept interest rate at 0.75% as it waits for a Brexit decision.
  • The Daily Telegraph: Privately owned construction firm Wates Group’s boss hailed its family-owned business model as the company posted a 1% rise in pre-tax profits, defying the downturn sweeping the sector.
  • Financial Times: Tencent saw fourth-quarter profits drop an unprecedented 32% year-on-year as it ramped up spending to restructure itself after a slowdown in its gaming business.
  • Daily Mail: Ted Baker shares plunged nearly 6% yesterday after it came clean on a 26% slump in full-year profits.
  • Daily Mail: Game Digital’s shares jumped over 4.5% yesterday after the group posted a 20.3% rise in first-half profits to £14.8 million.
  • The Daily Telegraph: The Entertainer toy retailer has posted a 31% rise in pre-tax profits to £15.1 million in the year to January, cashing in from a parental “backlash” against computer games.
  • The Times: Shares in IG Group tumbled 6% yesterday after the FTSE 250 business posted a worse than expected 29.4% slide in revenues.
  • The Times: The Italian head of Ray-Ban, the world’s biggest eyewear maker, is locked in a public row with his French deputy that is blocking key decisions.
  • The Daily Telegraph: Charles Horton, the former boss of Govia Thameslink, received nearly £400,000 after he quit last summer in the wake a shambolic train timetable overhaul.
  • The Daily Telegraph: Britain’s two largest shopping centre owners, Hammerson and Intu, have slashed their bosses’ pay packets after a painful year for retail sector.
  • The Times: Rolls-Royce’ chief executive Warren East has resigned from the board of Dyson.
  • Financial Times: Tobacco giant Philip Morris International has signed a deal with youth-focused Vice Media to promote vaping, in a move that has alarmed health campaigners.
  • The Guardian: A report published by InfluenceMap has said that the top five listed oil and gas companies spend nearly $200 million a year lobbying to delay, control or block policies to tackle climate change.
  • The Guardian: Scammers stole £1.2 billion from UK bank customers in 2018, according to official data, with year on year figure up by 25%.
  • The Times: Amigo Holdings lost almost £80 million of its market value yesterday amid worries Britain’s biggest provider of guarantor loans faces growing scrutiny from the City watchdog.
  • Financial Times: Boeing has decided to install an extra safety alarm in the cockpits of all its 737 Max aircraft after intense criticism in the wake of two fatal crashes.
  • The Daily Telegraph: Persimmon will allow customers to hold back a chunk of the price of their homes until any faults are fixed.
  • The Times: Government borrowing costs declined to their lowest level in 18 months after doveish signals for growth from the US Federal Reserve and the rising threat of a no-deal Brexit.
  • The Daily Telegraph: Facebook stored up to 600 million user passwords in a readable plain text format for years, according to security researcher Brian Krebs.

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Profile: Altor's Towry graduates on launching a family business

Profile: Altor's Towry graduates on launching a family business

Altor Wealth Management was launched on of a shared vision to form a family-style company that would charge fairly and differently.

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