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Thursday newspaper round-up: Coronavirus cost, Airbus, Sirius, Invesco

By Michele Maatouk

Date: Thursday 20 Feb 2020

Thursday newspaper round-up: Coronavirus cost, Airbus, Sirius, Invesco

(Sharecast News) - The coronavirus could cost the global economy more than $1tn in lost output if it turns into a pandemic, according to a leading economic forecaster. Oxford Economics warned that the spread of the virus to regions outside Asia would knock 1.3% off global growth this year, the equivalent of $1.1tn in lost income. - Guardian
Boris Johnson's goal of rebalancing Britain's lopsided economy is at risk of failure because of the government's neglect of its industrial strategy, the watchdog established to monitor progress of the flagship policy has warned. In a critical report, the Industrial Strategy Council (ISC) said the policy to earmark government support for key sectors of the economy had made only limited progress since Theresa May first unveiled the plan three years ago. - Guardian

Airbus is shedding almost one in 10 staff in the UK working in its defence and space arm after poor sales. The cuts are part of wider restructuring of the pan-European company's badly performing unit, with 2,350 jobs going worldwide by the end of next year. - Telegraph

Doubts over Anglo American's ?405 million takeover of Sirius Minerals have deepened after the hedge fund run by Crispin Odey opposed the deal. Odey Asset Management said that Anglo's 5.5p-a-share offer "does not represent fair value for shareholders in Sirius" and claimed that the FTSE 100 mining group "would be willing to bid substantially more" for the North Yorkshire fertiliser mine developer. - The Times

Investors withdrew ?200 million from Invesco funds run by Mark Barnett last month, betraying their continuing nervousness about the former prot?g? of Neil Woodford. January's net outflows came after more than ?1 billion was pulled from the three portfolios managed by Mr Barnett during the last quarter of 2019. That prompted the stockpicker last month to reassure his investors about the health of his funds. -The Times

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