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Saturday Papers: GSK board considers break-up of group

Saturday Papers: GSK board considers break-up of group

Top stories

  • Financial Times: GlaxoSmithKline is considering splitting up the company after several investors pressed board to spin off the group's consumer division.
  • The Daily Telegraph: US President Donald Trump has accused the EU and China of manipulating their currencies, and threatening to slap tariffs on all Chinese imports, ramping up rhetoric against some of the country's biggest trade partners in a series of outbursts.
  • The Times: Comcast will try to retain Jeremy Darroch, the chief executive of Sky, for at least two years if it takes over the satellite broadcaster in a £26 billion deal.
  • Financial Times: Michael Barnier, the EU's chief Brexit negotiator, said he was ready to negotiate with the British government to prevent a hard border for Northern Ireland.
  • Financial Times: General Electric's profits declined by 58% in the second quarter as the rise of renewable and sliding demand of gas turbines hit the company's earnings.
  • Financial Times: House of Fraser lands in legal case filed by a group of landlords over company voluntary arrangement after creditors approved the plan to close more than half of its stores.

Business and economics

  • The Guardian: A record numbers of visitors came to Britain from overseas last year after sterling’s plunge triggered by the Brexit vote, according to official figures.
  • Financial Times: The Royal Bank of Scotland said that it would close its compensation scheme for customers of its restructuring unit that is alleged to have mistreated thousands of small businesses.
  • The Daily Telegraph: Lloyd's of London insurer Beazley posted a 64% fall in profits and announced the departure of its finance head, causing its shares to plunge by 12%.
  • Daily Mail: Hermes International has registered strong quarterly sales on the back of Chinese shoppers, despite the burgeoning trade war.
  • The Times: Bitcoin surged 20% this week after bullish commentary from investment managers and news that Blackrock could enter the digital currency market.
  • Daily Mail: Unilever has handed back nearly £2.7 billion to investors after a successful first round of its share buyback programme and will be launching second round to purchase £5.4 billion worth of shares by year-end.
  • The Daily Telegraph: Facebook has suspended apps by Crimson Hexagon as the social media giant probes whether the Boston-based analytics firm is violating its policies in how it collects and shares user data.
  • The Times: The new chief executive of ITV is planning to create a British challenger to Netflix and Amazon Video.
  • The Daily Telegraph: Gold miner Acacia has expressed disappointment over the continuing export ban on gold concentrate imposed by the Tanzania government.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tips): HOLD Regional Reit; HOLD Dairy Crest; HOLD IHT Portfolio; HOLD Royal Mail; HOLD Invesco Income Growth.
  • Financial Times: Egyptian billionaire Nassef Sawiris and Fortress Investment co-founder Wes Edens have acquired a 55% stake in one of the oldest English football club, Aston Villa.
  • Financial Times: State Street is to buy Charles River Development for $2.6 billion.
  • The Times: A British-listed biotechnology company Puretech Health has struck a collaboration agreement with Swiss pharmaceuticals group Roche for research support and pre- clinical milestones.
  • The Times: The Competition and Markets Authority cast doubt yesterday on whether a merger between Britain’s biggest credit scorers Experian and Clearscore could go ahead because of a reduction in competition.
  • The Daily Telegraph (Comment): Here’s why the race to be the first trillion dollar company matters.

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