Euro weakness threatens UK income giants

Following a spate of updates from FTSE 100 giants including Vodafone last week, fund managers said if the pound continues to climb against the euro dividends may have to be cut, impacting funds' payouts. Sterling has strengthened significantly against the single currency year-to-date, up 4.3%. Last week it traded as high as €1.26, within a whisker of a three-and-a-half year high, as investors continued to flock to UK assets as part of the ongoing safe haven trade. Leading companies are now warning they may have to cut payouts to investors because of the run-up in sterling. Vodafone sa...