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Sunday newspaper round-up: Hong Kong, Air bridges, Vaccine

Sun, 24th May 2020 13:16

(Sharecast News) - Hong Kong democracy activists yesterday made frantic plans to cover their tracks amid fears of a brutal crackdown by the world's most powerful surveillance state. Many deleted politically sensitive online postings, wiped social media accounts and turned to proxy servers that mask their identities after China announced sweeping national security laws for the territory. - Sunday Times

Business leaders have written to Boris Johnson to demand the urgent creation of "air bridges" to low-risk countries to quash fears that Britain's controversial quarantine "risks major damage to the arteries of UK trade". A letter sent to No 10, seen by The Sunday Telegraph, warns the Prime Minister that a failure to act will "push the UK to the back of the queue as states begin conversations for opening up their borders" as the coronavirus pandemic eases. - Sunday Telegraph

So few people in the UK are being infected with the coronavirus that Oxford University researchers may have to "chase" the disease around the country to test their vaccine. To be confident that a vaccine works, enough people who take part in the trial need to be exposed to the virus - but the rate of infection in parts of the UK is becoming too low. Sir John Bell, regius professor of medicine at the university and an expert in immunology, said the speed at which scientists would discover if the vaccine worked was "entirely dependent" on the number of infections in the population. - Sunday Times

Aerospace giant GKN is offering voluntary redundancy to thousands of staff - raising fears that it is planning sweeping job cuts. The Mail on Sunday can reveal that the plane parts manufacturer, which is owned by FTSE 100 buyout firm Melrose, has asked staff at two of its largest aerospace factories to take voluntary redundancy to limit substantial involuntary cuts that are believed to be looming. Aerospace manufacturers are grappling with a slump in demand in civil aviation and are hoping job cuts will help them to survive the coronavirus outbreak. - Mail on Sunday

When the Bank of England governor says he is not ruling out a cut in the cost of borrowing to below zero, you know there is trouble ahead. Negative interest rates are the last resort of the central banker and not to be used unless absolutely necessary. At least that is the thinking inside the forbidding walls of the Bank's offices on Threadneedle Street. Only a couple of weeks ago, governor Andrew Bailey said, in effect, that the Bank had never lowered interest rates to below zero and wasn't going to start now. - Guardian

The former boss of the London Stock Exchange has warned its $27bn (£22bn) debt-fuelled takeover of the data provider Refinitiv carries serious risks and that parts of its business are "obsolete". Xavier Rolet, the Frenchman who ran the exchange for almost a decade until his departure in 2017, said his former employer's efforts to win competition clearance for the deal could go either way. - Telegraph

Jaguar Land Rover, Britain's largest carmaker, has asked for a support package from the government to help it survive the coronavirus pandemic. Talks are ongoing with the Department for Business, Energy and Industrial Strategy (BEIS), and the department said it would not provide a running commentary of the discussions, after Sky reported that the bespoke loan request was in excess of £1bn. - Guardian

Britain's largest solar farm, capable of generating enough clean electricity to power 91,000 homes, is poised to receive the greenlight from ministers this week. The subsidy-free renewables park is expected to reach a capacity of 350MW by installing 880,000 solar panels - some as tall as buses - across 364 hectares (900 acres) of farmland in the Kent countryside. - Guardian

An investment tycoon has warned that Lloyds bank is facing an "existential crisis" and suggested it should wind itself up so it can return capital to shareholders. Jeremy Hosking, worth £385m according to The Sunday Times Rich List, asked whether Lloyds was "a for-profit private company or simply a publicly owned utility" after it joined other banks in cancelling dividend payments following pressure from the City regulator. -Sunday Times

Britain could be poised to launch its first ever sovereign wealth fund under plans being examined by the Government, The Mail on Sunday can reveal. Officials are understood to be 'actively considering' a £25billion taxpayer-backed fund to reboot struggling regional firms in the wake of the coronavirus crisis. Under the plan, the Government would buy shares in key businesses outside of London as part of Prime Minister Boris Johnson's agenda to strive to 'level up' the entire country after lockdown ends. - Mail on Sunday

Boris Johnson has been forced to cave into to Conservative backbench rebels opposed to the presence of Huawei in 5G networks and has drawn up plans to reduce the Chinese company's involvement to zero by 2023. The prime minister's retreat is designed to stave off what could have been an embarrassing defeat when his existing proposal to reduce Huawei to a 35% market share was to be voted on in the Commons. - Guardian

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2 Mar 2018 08:03

UPDATE 1-Britain's GKN, fighting hostile bid, says in talks over auto unit deal

LONDON, March 2 (Reuters) - British engineering company GKN is in talks with Dana Incorporated over its auto unit, opening up a new front in its battle to fight off a hostile

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2 Mar 2018 07:16

GKN says in talks with U.S.-based Dana over auto unit sale

LONDON, March 2 (Reuters) - British engineering company GKN said it was in talks with Dana Incorporated regarding the sale of its auto-parts Driveline unit as part of a deal a

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28 Feb 2018 13:08

UPDATE 1-Proxy shareholding group PIRC opposes Melrose bid for GKN

By Ben Martin, Carolyn Cohn and Simon Jessop LONDON, Feb 28 (Reuters) - Proxy voting adviser PIRC has told Melrose Industries shareholders they should oppose its 7 bid

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28 Feb 2018 11:50

Shareholder adviser ISS recommends Melrose investors back GKN bid

LONDON, Feb 28 (Reuters) - Melrose Industries has secured the backing of investor advisory firm Institutional Shareholder Services (ISS) for its 7 billion pound hostile bid is

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28 Feb 2018 08:39

Proxy shareholding group PIRC opposes Melrose bid for GKN

LONDON, Feb 28 (Reuters) - Proxy voting adviser PIRC recommended Melrose Industries shareholders oppose the company's planned hostile acquisition of British GKN, it said a

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25 Jan 2017 14:47

Sector movers: Cyclicals, banks jump, while precious metals miners retreat

(ShareCast News) - Cyclicals led the advance, led by Automobile stocks such as GKN and construction outfits like CRH, both of which benefit from bets on an improving world economy, especially in the States. Banks were also higher, boosted by bumper full-year results from Spanish lender Santander, am

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20 Jan 2017 10:42

WINNERS & LOSERS SUMMARY: Shares Of Upbeat Synthomer Hit Record High

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20 Jan 2017 09:36

BROKER RATINGS SUMMARY: Exane BNP Cuts Sainsbury's And Tesco

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20 Jan 2017 08:27

LONDON BRIEFING: 2nd Biggest Economy Surges As 1st Gets New Leader

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12 Jan 2017 15:00

Sector movers: Miners rise on Chinese lending data, US dollar weakness

(ShareCast News) - Mining stocks were again in favour on Thursday as metals´ prices continued to gain in overnight trading on the heels of stronger than expected lending data for Asia´s largest economy and positive newsflow on specific commodities. Continued selling in the US dollar after the Presid

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11 Jan 2017 11:40

Merrill Lynch upgrades Spectris and Spirax, prefers Smiths Group

(ShareCast News) - Engineering shares were boosted by a note from Bank of America Merill Lynch that upgraded Spectris and Spirax-Sarco Engineering but said Smiths Group was its preferred UK name in a sector where investors are looking to rotate towards cyclical stocks. While positive data indicators

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5 Jan 2017 09:15

PIC completes 190 mln stg buyout for GKN Group Pension Scheme

LONDON, Jan 5 (Reuters) - Specialist insurer Pension Insurance Corporation has completed a 190 million pound ($233.34 million) pensioner buyout for the GKN Group Pension Scheme, it said on Thursday. The buyout covers certain current pensioner members of the scheme, who will eventually leave

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7 Dec 2016 15:08

Broker tips: Shire, GKN, IG Group

(ShareCast News) - UBS downgraded Shire to 'neutral' from 'buy' and cut the price target to 5,000p from 5,600p saying a tougher environment for expensive orphan drugs was likely to constrain performance. This, and other issues such as low return on invested capital and the 2023 Vyvanse patent expiry

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7 Dec 2016 13:34

BofA ML upgrades GKN to 'buy' from 'neutral'

(ShareCast News) - GKN got a boost as Bank of America Merrill Lynch upgraded its stance on the stock to 'buy' from 'neutral' and upped the price target to 365p from 350p. "As we move into 2017, we believe GKN provides one of the strongest earnings growth profiles in the sector, through both organic

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6 Dec 2016 12:11

UK trade deficit surges £6bn after ONS admits 'processing error'

(ShareCast News) - A sizeable error has been found in official UK trade data, such that the third quarter external trade deficit did not narrow to £11bn from £12.7bn as first announced but in fact increased from £9.9bn to £17bn. The Office for National Statistics said it had found a "processing erro

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