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Monday Papers: Consumer spending slumps to 5-year low

And Airbus woos China with A380 industrial partnership offer ahead of expected surge in demand.

 
Monday Papers: Consumer spending slumps to 5-year low

Top stories

  • The Times: Britain experienced its worst year for consumer spending in five years in 2017, after expenditure dropped in the run-up to Christmas as declining real wages and economic uncertainty continued to put a strain on household finances.
  • Financial Times: Airbus is offering an industrial partnership with China on the A380 if Chinese airlines place orders for the world’s largest passenger jet, whose future is in doubt unless it wins new customers.
  • The Daily Telegraph: Volkswagen Group is expected to retain its position as the world’s largest car maker in 2017, increasing its lead over Toyota.
  • Financial Times: Britain is pushing to remain under EU regulation for medicines after Brexit, the latest sign ministers want to stay close to Europe in some sectors despite the bloc warning the UK cannot “cherry-pick” parts of the single market.
  • Financial Times: The growth of Royal Dutch Shell’s oil and gas operations in the next decade will depend on shale production, its chief executive has said, in the latest sign of western energy groups pinning their hopes for expansion on those “unconventional” resources.
  • Financial Times: Investors and analysts face a series of earnings reports muddied by charges and other special items related to US tax reform when the fourth quarter season gets under way this week.

Business and economics

  • The Guardian: Britain’s manufacturers are more upbeat about the state of the global economy than at any time since 2014 and believe demand from overseas will sustain their businesses through another year of Brexit uncertainty, a survey has shown.
  • The Times: Ministers have been asked to come up with plans to secure the future of the Vauxhall car plant at Ellesmere Port and to promote it as a factory in the vanguard of the electric vehicle revolution.
  • Financial Times: Embattled US retailers had their most cheerful holiday season in at least six years, according to new data and early trading updates.
  • The Guardian: More than 130,000 UK firms will be forced to pay VAT upfront for the first time on all goods imported from the European Union after Brexit, under controversial legislation to be considered by MPs on Monday.
  • The Daily Telegraph: Privately owned pub groups have reported buoyant Christmas trading and analysts are expecting upbeat data from some of their larger publicly traded rivals, particularly those with a skew towards drink sales.
  • The Times: Bankers are set for a “high noon” meeting with Carillion this week in an attempt to refloat the badly battered contractor.
  • The Daily Telegraph: Accounting giant KPMG is no longer advising on the Grenfell Tower inquiry after campaigners said the government's decision to appoint the firm was a conflict of interest.
  • Daily Mail: Carolyn McCall takes the reins at ITV as the firm battles an advertising slump and challenges from newer, digital competitors.

Share tips, comment and bids

  • The Daily Telegraph (Questor share tip): Keep buying Sainsbury’s – it's just one bargain created by Brexit hysteria.
  • Daily Mail (Trader tips): BUY William Hill after a favourable run of sporting results over Christmas but SELL Debenhams.
  • Daily Mail: British cider maker Aspall has been snapped up by a US beer giant Molson Coors, which also owns Carlsberg, for £40 million.
  • The Daily Telegraph: UBM has taken its final step from magazine publisher to events company after striking a deal to sell its last major publication, the construction industry bible Building.
  • Financial Times: Metrovacesa, one of the Spanish property groups that blew up most spectacularly during the global financial crisis, is planning a return to the stock market, hoping to capitalise on the growing investor appetite as the country’s house prices start to recover.

1 comment so far. Why not have your say?

steven fieldfare

Jan 08, 2018 at 11:50

Difficult to follow the Guardian that large numbers of manufacturers will be forced to pay VAT up front on EU imported goods after Brexit: given that exit terms are not yet known, and that VAT special arrangements for some already exist.

It should not beyond legislative wit to adapt and shape further to new circumstance.

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