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Weekend Press Review: The weekend Woodford

Unsurprisingly following the events of last week, most of the Sundays went into considerable detail about the suspension of Neil Woodford’s flagship fund.

The Sunday Times led with Hargreaves Lansdown’s “grovelling apology to tens of thousands of clients whose money is trapped”, and then analysed “Woodford’s failed dream” before offering a 3-page Woodford special in its Money section.

In other news, the paper reports that six directors of Hermes Investment Management, which has called for a clampdown on boardroom excess, have themselves shared in a £35m pay bonanza.

Luke Johnson tells the tale of his “very public disaster with Patisserie Valerie” and how he began to think his UK career was over and that he should emigrate.

In an investigation into the private equity sector, Peter Williams, the founder of clothing and lifestyle brand Jack Wills observes that “The structural make-up of the entire private equity industry is geared to making a quick buck. Get in cheap and get out fast, for the maximum price.”

There’s an interesting article on how entrepreneurs in the creative sector can struggle to raise capital, and the paper also reports how workplace schemes have fuelled a £7bn pension boost.

Apart from reams about Woodfordgate, The Mail on Sunday reports Aaron Greenspan’s accusation that Facebook is “the largest fraud in corporate history” and his prediction that the social media giant’s share value will halve over the next two years.

In an article titled “Profits with purpose”, The Mail introduces 10 entrepreneurs who say solving the world’s toughest problems and being green is as important as making cash.

Reporting on the growing number of over-50s who are delaying retirement by starting their own firm, the paper features 7 “olderpreneurs” who are fuelling a business boom.

The Sunday Telegraph comments how as part of the Woodford fallout, Invesco and Merian are at risk if unlisted stocks are banned.

They also report the death tax double-whammy, and how the Government profits from personal tax breaks.

Everybody obsesses about house prices, so it’s interesting that the paper reveals that the Nimbys are wrong: new housing developments actually boost house prices.

The Questor column looks at Reckitt Benckiser and observes that it “once exuded vim and vigour but now looks a little peaky”, while another analysis identifies H&M, Macy’s and Centrica as being among the biggest dividend ‘traps’ in the world.

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