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Friday Papers: Global M&A exceeds $3tn for fourth straight year

And Bitcoin price tumbles after South Korea joins cryptocurrency crackdown.

Friday Papers: Global M&A exceeds $3tn for fourth straight year

Top stories

  • Financial Times: Worldwide mergers and acquisitions activity has exceeded $3 trillion for the fourth consecutive year, extending an unprecedented wave of dealmaking that bankers say is set to accelerate in 2018.
  • The Daily Telegraph: Bitcoin fell more than 11% on Thursday after South Korea, which is a hub for digital currency trading, reportedly accounting for 20% of global Bitcoin transactions, announced a clampdown on cryptocurrency.
  • The Times: The A380 superjumbo could be running out of runway after reports that Airbus will end production of the world’s largest commercial aircraft if it does not receive a new order from Emirates.
  • Financial Times: Brexit is making the UK more attractive to investors by depressing valuations, according to Europe’s largest activist shareholder, Cevian Capital, the Swedish pioneer of activism in Europe, which is flush with cash from the sector’s biggest-ever exit.
  • The Daily Telegraph: Apple has apologised for slowing down older iPhones and cut the price of battery replacements, although claimed it has "never – and would never – do anything to intentionally shorten" the life of its products.
  • Financial Times: Sergio Mattarella, Italy’s president, ushered the country towards a general election by dissolving parliament on Thursday, launching a two-month campaign that will mark the next big political test for the EU given the rising strength of the country’s populist opposition parties.
  • Financial Times: Liam Fox, the trade secretary, will legislate next month to take back powers from Brussels to deal with trade disputes, in a move that will force Westminster politicians to grapple with exporters such as China.

Business and economics

  • The Guardian: Britain is set to have the worst wage growth of any wealthy nation next year, ranking behind Italy, Greece and Hungary, according to analysis by the TUC.
  • The Daily Telegraph: Britain’s housing market has defied uncertainty to grow 3.5% so far this year, despite a slowdown in London and the South East.
  • Daily Mail: Aldi, Lidl and Tesco are set to emerge as this Christmas' supermarket sales winners after households splashed out on increasingly expensive groceries.
  • The Times: Thomas Cook will launch a bank in Britain next year in a partnership with one of Europe’s largest digital lenders and with the aim of slashing the cost of paying for items in foreign currencies.
  • Financial Times: Telit, the internet of things business shaken this year when its former chief executive was linked to a US fraud indictment, has secured a waiver from its lenders to prevent it breaching covenants.
  • The Times: An investor group, Sharesoc, which represents individual investors, is making a second attempt to force Royal Bank of Scotland to give its shareholders a bigger say over its governance.
  • Financial Times: Canberra is poised to stymie a deal under which Huawei was to run a seabed cable more than 4,000km from Sydney to the Solomon Islands, instead bankrolling the A$100 million (US$78 million) project itself.
  • Financial Times: The number of Chinese cruise passengers is set to fall for the first time next year as lines redeploy ships from what had been the industry’s most promising market, deterred by falling prices and restrictions on travel to South Korea.
  • Financial Times: A flawed data feed at Citigroup meant that retail customers saw the wrong research ratings on hundreds of stocks over a period of five years, according to a Wall Street watchdog, which has ordered the bank to pay at least $11.5 million in fines and restitution.

Share tips, comment and bids

  • The Times (Tempus share tips): Review of 2017 tips: part two.
  • The Guardian: A consortium led by SoftBank Group Corp has successfully bought a large number of shares in Uber in a deal that values the ride-hailing/food delivery firm at $48 billion (£36 billion), Uber said on Thursday.
  • Daily Mail: British Airways owner IAG is reportedly in negotiations to take over Austrian airline Niki, as the final assets of collapsed Air Berlin are sold.
  • Daily Mail: High Street chains look set to be sold Poundland, Bensons for Beds, Harveys and Pep & Co as their South African owner Steinhoff was warned of possibility of running out of cash after being gripped by a major crisis triggered by a probe into accounting irregularities.
  • The Times: India’s richest man confirmed Mukesh Ambani is buying telecoms towers, fibre-optic cables and airwaves owned by his brother Anil’s indebted Reliance Communications.
  • The Daily Telegraph (Comment): How to trade your way through Phase 2 of Brexit.

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