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Sunday newspaper round-up: Pandemic, Jobs, AstraZeneca

Sun, 07th Jun 2020 12:21

(Sharecast News) - Fresh evidence of China's shocking cover-up of the pandemic outbreak has been found in censored media reports from Wuhan. Samples taken from sick patients and analysed by at least five laboratories had confirmed the existence of a lethal new coronavirus before China told global health authorities about an infectious disease that it claimed was unidentified. - Mail on Sunday

Boris Johnson has ordered ministers to lift the lockdown quickly to avoid the possible loss of three million jobs. In a significant shift in the government's approach to Covid-19, the prime minister signed off new measures to open up the economy at a meeting with Rishi Sunak, the chancellor, on Friday night. Johnson stepped in after a crunch meeting on Tuesday where he was warned by Alok Sharma, the business secretary, that failure to reopen the hospitality sector in time for the summer could cost up to 3.5 million jobs. Johnson replied: "Christ!" - Sunday Times

AstraZeneca has approached rival pharmaceuticals company Gilead Sciences about a potential merger, Bloomberg News reported on Sunday. Any merger - which would be the biggest healthcare deal on record - would bring together two of the companies leading the drug industry's efforts to fight the coronavirus pandemic. A combination of the two would be valued at about £200bn. AstraZeneca, valued at £110bn, recently overtook Royal Dutch Shell to become the UK's largest company by market value. Gilead was valued at about $96bn (£74bn) at Friday night's closing price. - Guardian

Sinosceptic Tory MPs have urged HSBC to withdraw backing for China's proposed security laws in Hong Kong, amid warnings that depositors could leave the bank in protest. The China Research Group has written to the bank urging it to drop support for the laws, which would ban subversion against China in Hong Kong. The group said the bank's position was "ultimately self-defeating" and asked HSBC to "confirm that you wish to operate within a rules-based international system". - Sunday Times

British Airways has launched a legal challenge to the government's "unlawful" quarantine rules, arguing that they are disproportionate and littered with problems. IAG, which owns Britain's flag carrier, began proceedings on Friday over plans to force passengers arriving in the UK to quarantine for 14 days. - Sunday Times

British Airways is heading for a vicious showdown with unions after relations appeared to spiral out of control over the airline's plan for drastic job cuts. In a flurry of incendiary briefings last night, the two parties seemed further apart than ever over proposals to lay off up to 12,000 of its 43,000 staff - more than one in four. A series of bitter accusations over the breakdown are understood to have taken place behind the scenes, with both sides now locked in a Mexican standoff. - Mail on Sunday

Crisis-hit shopping centre owner Intu Properties has lined up KPMG to handle a potential administration if efforts to gain breathing space from its lenders fail. The contingency plans from the owner of Essex's Lakeside and Manchester's Trafford Centre, first reported by Sky News, come ahead of critical talks over its £4.5bn debt pile. - Sunday Telegraph

HSBC has waded further into tensions between Britain and China by warning Downing Street against a ban on the equipment maker Huawei in 5G telecoms networks. Mark Tucker, the bank's chairman, made the private representations to Boris Johnson's advisers, according to industry and political sources. HSBC is understood to have claimed that it could face reprisals in China if Huawei was blocked from selling equipment to the next generation of networks being built by Britain's mobile operators. One source said Mr Tucker had been "on manoeuvres" in Westminster in relation to Huawei in recent weeks.- Sunday Telegraph

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4 Mar 2020 09:30

intu Properties Hit As Attempt At GBP1 Billion Equity Raise Falls Flat

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4 Mar 2020 08:47

LONDON MARKET OPEN: FTSE Gains In Mixed European Open After Fed Cut

LONDON MARKET OPEN: FTSE Gains In Mixed European Open After Fed Cut

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4 Mar 2020 08:19

Intu Properties tumbles as it cancels equity raise

(Sharecast News) - Shopping centre owner Intu Properties said on Wednesday that it was unable to proceed with an equity raising due to uncertainty in stock markets.

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4 Mar 2020 07:44

LONDON MARKET PRE-OPEN: Wizz Air Latest Airline To Warn On Coronavirus

LONDON MARKET PRE-OPEN: Wizz Air Latest Airline To Warn On Coronavirus

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27 Feb 2020 16:10

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

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26 Feb 2020 14:31

Intu Properties drops after announcing ?1.3bn cash call, credit line extension

(Sharecast News) - Intu Properties clinched an extension of its medium-term lending facility, albeit of a smaller amount and with the proviso that it raise ?1.3bn in fresh capital.

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26 Feb 2020 12:29

Intu Properties Gets New GBP440 Million Loan, Working On Equity Raise

Intu Properties Gets New GBP440 Million Loan, Working On Equity Raise

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11 Feb 2020 17:04

LONDON MARKET CLOSE: FTSE 100 Lifted By Risk-On Mood And Travel Stocks

LONDON MARKET CLOSE: FTSE 100 Lifted By Risk-On Mood And Travel Stocks

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11 Feb 2020 12:29

Hong Kong's Link pulls out of Intu fundraising talks

(Sharecast News) - Intu Properties shares plunged after a big potential investor pulled out of talks to provide fresh funds, throwing the shopping centre operator's survival plans into doubt.

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11 Feb 2020 11:58

LONDON MARKET MIDDAY: TUI Helps FTSE Take Off; Pound Firm After UK GDP

LONDON MARKET MIDDAY: TUI Helps FTSE Take Off; Pound Firm After UK GDP

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11 Feb 2020 11:17

TOP NEWS: Asian Investor Pulls Out Of intu Properties Fundraise

TOP NEWS: Asian Investor Pulls Out Of intu Properties Fundraise

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11 Feb 2020 09:24

UK BROKER RATINGS SUMMARY: RBC Downgrades Antofagasta And Rio Tinto

UK BROKER RATINGS SUMMARY: RBC Downgrades Antofagasta And Rio Tinto

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10 Feb 2020 16:54

LONDON MARKET CLOSE: Lower Close As Pound Rebounds Ahead Of GDP Data

LONDON MARKET CLOSE: Lower Close As Pound Rebounds Ahead Of GDP Data

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10 Feb 2020 12:05

LONDON MARKET MIDDAY: Stocks Mixed As Coronavirus Deaths Surpass SARS

LONDON MARKET MIDDAY: Stocks Mixed As Coronavirus Deaths Surpass SARS

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