What the other papers say this morning – 5 March 2014
FINANCIAL TIMES
Faith, hope and hedge funds for CoE
The Church of England is ramping up the exposure of its £6bn endowment to alternative investments such as hedge funds and private equity in a move that will cement its position as one of the UK’s largest single investors in these types of assets. The Church Commissioners who manage the endowment will meet next month to decide on the fund’s allocations and are set to increase its exposure to alternative investments, which also include residential property and farm land, according to a Church spokesman. Alternatives already account for almost a third of the fund.
Delta soars above bumpy weather
Delta Air Lines shares climbed to the highest level since its emergence from bankruptcy protection seven years ago after the airline reported a rise in passenger revenues in February despite severe weather that hampered results at its peers.
Japan wages rise to highest in 2 years
In a sign that Japan’s inflation-promoting economic policies may be starting to lift wages, basic pay for the average worker increased for the first time in nearly two years, according to government data for January. But as base pay edged up 0.1 per cent, the first rise in 22 months, overtime and bonuses went into reverse.
THE TIMES
Strong digital boost for Guardian
Advertising revenue from online editions of The Guardian will rise by a quarter to £70m this year, its publisher said yesterday in a sign of improvement in the media group’s financial fortunes.
Smith & Wesson gun sales rise
US gunmaker Smith & Wesson announced that hand gun sales in the third quarter rose 29.9 per cent compared with the same period last year. The company comfortably beat Wall Street expectations with overall net sales for the latest three months of $145.9m, a rise of 7.1 per cent.
The Daily Telegraph
Boohoo.com sets flotation price
Shares in boohoo.com are expected to be priced at 50p each in a stock market flotation that will value the online fashion retailer at more than £500m. Boohoo.com expects to be admitted to London’s junior market on March 14, joining rival Asos on Aim.
Barclays: Bonuses avoid death spiral
Barclays chief executive Antony Jenkins says he was forced to increase bonus payments to senior executives after hundreds of key staff left the investment bank in America and he feared a “death spiral” could grip the organisation.
THE WALL STREET JOURNAL
Pig prices surge to record US high
Pig prices surged 2.8 per cent to an all-time high, fuelled by concerns that a deadly swine virus is cutting deeper into U.S. supplies. Lean-hog futures jumped three cents a pound, the exchange imposed daily limits as traders worry the virus is spreading and will take a heavier toll on U.S. production than previously thought.
Adidas extends CEO’s contract
Adidas’s supervisory board has extended chief executive officer Herbert Hainer’s contract by two years until March 2017, the German sportswear and equipment maker said yesterday.