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Sunday newspaper round-up: Breast cancer, Food shortages, IAG

Sun, 19th Sep 2021 14:30

(Sharecast News) - The trial of a new drug to treat an aggressive form of breast cancer has "shattered expectations" raising hopes of a "cure", according to its maker, AstraZeneca. The British pharmaceuticals company said three quarters of women in the trial of its new drug, Enhertu, had shown no progression in their disease after 12 months compared with just a third treated with a different medicine. - Sunday Times
Business Secretary Kwasi Kwarteng will tomorrow hold an emergency summit with energy bosses to thrash out a plan to fix the fuel crisis, which has sparked fears of major food shortages. There is growing alarm that the food and drink industry could be badly hit by the closure of two fertiliser plants - in Teesside and Cheshire - due to gas price rises. - Financial Mail on Sunday

The chief executive of British Airways owner IAG has denied widespread City speculation that he is planning to raise billions of euros from shareholders to get the company through the extended Covid crisis. Having seen easyJet tap investors for £1.2 billion in a rights issue earlier this month, focus had turned to IAG with expectations that it would have to follow suit to shore up its finances. - Sunday Times

Prudential is to raise £2 billion on the Hong Kong stock exchange in a move that cements the FTSE 100 insurance giant's focus away from its British base. The 173-year-old insurer intends to use the bulk of the proceeds to pay down debt and give it "financial flexibility in the light of the breadth of opportunities to invest for growth in Asia and Africa". Ultimately it hopes to win a place in the Hang Seng index of Hong Kong's largest companies. - Sunday Times

A cabinet minister has refused to rule out removing the energy price cap but stressed there was "no immediate concern" about energy supply. Alok Sharma, the cabinet minister for the Cop26 summit, said people should be "confident" about energy supplies over the coming months despite surging wholesale gas prices and warnings about resulting product shortages. - Sunday Times

The majority of the UK's small energy suppliers could be left to collapse this winter, the Guardian understands, as the government's crisis talks focus on protecting households rather than bailing out struggling companies. The business secretary, Kwasi Kwarteng, was due to meet the industry regulator on Sunday to thrash out possible options to intervene in the energy market after a recent run of supplier collapses owing to a record rise in global gas and electricity prices. - Guardian

Adzuna, the job search engine used by the Government for live data on the labour market, is planning a stock market listing that will value the company at up to £100m. Launched a decade ago in Clapham, south London, by Andrew Hunter and Doug Monro, the site brings together online job adverts in a searchable form. - Sunday Telegraph

COP26 president Alok Sharma was unable to confirm China would even be sending a delegation to the gathering in November - although he insisted he was "very, very hopeful" they would. The agreement of China, as the world's biggest emitter of greenhouse gases, is seen as crucial if the talks are to succeed in slowing global warming. - The Scotsman

The grocer Morrisons is to begin selling to pubs, restaurants and hotels in a bid to expand its wholesale business rapidly. The FTSE 250 supermarket chain, which is also the UK's second biggest fresh-food producer, is understood to have signed a deal with Starstock, an online portal that enables businesses to order directly from suppliers. The idea is that restaurateurs, hoteliers and pub groups will be able to stock their kitchens with products sourced from Morrisons. - Sunday Times

The majority of the UK's small energy suppliers could be left to collapse this winter, the Guardian understands, as the government's crisis talks focus on protecting households rather than bailing out struggling companies. The business secretary, Kwasi Kwarteng, was due to meet the industry regulator on Sunday to thrash out possible options to intervene in the energy market after a recent run of supplier collapses owing to a record rise in global gas and electricity prices. - Guardian

Rolls-Royce is developing a nuclear reactor that it hopes will be capable of powering mining operations on the Moon and even Mars, The Mail on Sunday can reveal. Dave Gordon, head of the company's defence division, said it is studying how a micro-nuclear reactor could be used to propel rockets while in space at huge speeds. He revealed that Rolls-Royce is investigating whether that technology could then be redeployed to provide energy for drilling, processing and storage for socalled 'Moon mining'. - Financial Mail on Sunday
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14 Apr 2024 13:31

Sunday newspaper round-up: Middle East, Aston Martin, Defence

(Sharecast News) - Britons must accept that their country was now involved in the Middle East conflict, Tobias Ellwood said. The former defence minister warned that "nobody was in full control" of the growing conflict as more and more countries were sucked in. Ellwood also said that Tehran's strike had taken the conflict into a "new dangerous territory". - Sunday Telegraph

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14 May 2023 20:17

Sunday newspaper round-up: Tesco, National Grid, Morrisons

(Sharecast News) - Tesco's pension fund lost £9bn in value and fell into a deficit after multiple safe investments went sour. In particular, the fund is heavily exposed to so-called Liability Driven Investments. Those LDIs came unstuck in 2022 following a sharp rise in interest rates that left pension funds nursing heavy losses. Yet the grocer had no plans to pay more into the pension plan with a spokesman saying that the scheme was "in a strong position", "well-funded" and employing a different measure for estimating contributions then it was in fact "in surplus". - The Financial Mail on Sunday

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1 Nov 2022 14:56

Morrisons to shut 132 loss-making McColl's stores

(Sharecast News) - Morrisons is planning to shut more than 100 loss-making McColl's stores, putting around1,300 jobs at risk.

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2 Oct 2022 16:23

Sunday newspaper round-up: British Steel, Takeovers, Credit Suisse

(Sharecast News) - Jingye Group, the Chinese outfit that brought British Steel out of insolvency in 2020, has told ministers that its two blast furnaces would not be viable unless financial support from taxpayers was forthcoming. In remarks to Sky News, insiders said the company may need "hundreds of millions of pounds" in order to keep the company's blast furnaces in Scunthorpe, north Lincolnshire, operational. It remained nevertheless unclear whether the rescue package would take the form of a grant or loan. - Sunday Telegraph

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9 Jun 2022 11:16

Morrisons takeover to go ahead after CMA clears petrol stations sale

(Sharecast News) - Britain's competition watchdog has confirmed the £7bn takeover of supermarket chain Morrisons by US private equity firm Clayton, Dubilier & Rice can proceed after a deal was reached on the sale of 87 petrol stations.

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9 May 2022 17:19

Morrisons confirms McColl's rescue deal

(Sharecast News) - Morrisons confirmed on Monday that it has agreed to buy convenience store operator McColl's from the administrator, seeing off competition from the Issa brothers' EG Group.

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8 Apr 2022 10:38

Morrisons appoints Joanna Goff as CFO

(Sharecast News) - Supermarket chain Morrisons has appointed Joanna Goff as its new chief financial officer, succeeding Michael Gleeson, whose departure was announced last month.

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7 Apr 2022 15:31

CMA could approve CD&R Morrisons takeover after undertakings

(Sharecast News) - The Competition and Markets Authority said on Thursday that it could approve the takeover of Morrisons by Clayton, Dubilier & Rice after the US private equity firm offered to divest some of its petrol stations to address competition concerns.

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24 Mar 2022 10:20

CMA warns Morrisons takeover could push up petrol prices

(Sharecast News) - Morrisons' takeover by a private equity firm could lead to higher petrol prices in more than 100 places because of overlap between the two groups' petrol stations, the UK competition watchdog said.

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13 Mar 2022 13:50

Sunday newspaper round-up: Renewables, Pearson, IAG

(Sharecast News) - The UK needs to massively expand wind farms across the country in order to safeguard national security, the business secretary has said, as the government considers sweeping changes to planning laws in order to improve energy independence. Against that backdrop, the Prime Minister will unveil a radical new "energy strategy" within a fortnight in order to make sure that that UK can get all the energy that it needs from a combination of renewables and nuclear. - Guardian

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13 Feb 2022 21:56

Sunday newspaper round-up: Stanlow, British Construction, Saudi Aramco

(Sharecast News) - US investment firm Bartons Family Capital is thought to have put feelers out to the government regarding a possible bid for Stanlow, one of the UK's largest refineries. The critical piece of UK infrastructure is owned by the Indian billionaire Ruia brothers and struggled during the pandemic, postponing the payment of a £356m tax bill. Bartons' interest is believed to be at an early stage with no approach having yet been made to Essar, which is owned by the Ruia brothers. - The Sunday Times

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30 Jan 2022 15:31

Sunday newspaper round-up: Vodafone Group, TSB, Inmarsat

(Sharecast News) - Activist investor Cevian Capital has taken out a stake in Vodafone Group and is understood to have held talks in recent weeks regarding ways for the company to improve its performance. Cevian could push Vodafone to sell some of its assets around the world, strengthen key business lines or buy back shares, Bloomberg reported. Rumours regarding the outfit's vulnerability to a take over were already swirling last week with private equity outfits said to be circling. In order to ward off that threat, Vodafone has been considering acquisitions or a merger of its wireless towers with Deutche Telekom or Orange. It has also approached CK Hutchinson about a possible merger. - Financial Mail on Sunday

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23 Jan 2022 18:12

Sunday newspaper round-up: Unilever, Morrisons, Aston Martin

(Sharecast News) - Activist investor Nelson Peltz's Trian Partners has reportedly built up a stake in Unilever, which will likely pile on the pressure after the consumer goods giant's failed £50bn bid for GlaxoSmithKline's consumer health unit. The size of the stake, which was first reported by the Financial Times, is not known. Peltz had retired from the board of US-based rival Procter&Gamble just a few months before, but not before pushing for change that helped boost P&G's shares up by 85%. Over the past five years, Unilever stock has underperformed that of its major rivals, including Nestle, P&G, PepsiCo and L'oreal. - Sunday Telegraph

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5 Jan 2022 08:56

Tesco wins as supermarkets back in favour over Xmas - Kantar

(Sharecast News) - UK supermarkets became popular once again as sales their highest level since March 2020 over Christmas with Tesco emerging as the main beneficiary.

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7 Dec 2021 09:41

Cost of Christmas dinner jumps as food prices rise

(Sharecast News) - Food inflation pushed higher last month, industry data showed on Tuesday, with Christmas staples already costing more.

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