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Saturday Papers: Bitcoin swings wildly after its biggest reverse of 2017

And FTSE 100 slips off record high as 'Santa rally' fizzles out on climbing Catalonia tensions.

Saturday Papers: Bitcoin swings wildly after its biggest reverse of 2017

Top stories

  • Financial Times: Bitcoin suffered a day of wild swings on Friday, tumbling more than 30% for its biggest reverse of the year before a similarly steep rally.
  • The Daily Telegraph: The FTSE 100 eased off its record high in the final trading session before Christmas as the “Santa Rally” in Europe fizzled out on reheating tensions in Catalonia.
  • Financial Times: Baidu, the Chinese search engine, is suing a former executive who it says stole proprietary autonomous driving technology to power a start-up.
  • The Times: Andy Hornby will take on the job of joint chief operating officer of GVC Holdings after the online gambling operator behind Sportingbet and Foxy Bingo completes its £4 billion takeover of Ladbrokes Coral Group.
  • Financial Times: British Steel’s chief executive Peter Bernscher has quit after less than a year in charge amid hints of discord at the top of the company.
  • Financial Times: Talks on a tie-up between Boeing of the US and Embraer, the world’s third-largest commercial jet maker, hung in the balance on Friday after Brazil’s President Michel Temer ruled out a change of ownership of the Brazilian company.

Business and economics

  • The Daily Telegraph: Britain’s economy grew by 0.4% in the third quarter and by 1.7% on the year, an unexpectedly strong result which indicates the UK is proving more resilient than feared.
  • The Daily Telegraph: Credit Suisse expects to take a write-down of 2.3 billion Swiss francs (£1.7 billion) during its 2017 fourth quarter following changes to the US tax system, the Swiss bank said on Friday.
  • The Times: Middle England’s favourite seller of soft furnishings and white linens, The White Company, has had another record year with operating profits of £17.6 million.
  • Daily Mail: Shares in embattled infrastructure giant Carillion rose after it said it had reached an agreement with its lenders to defer a crucial financial covenant test.
  • Daily Mail: Waitrose revealed orders for its food and drink to customers overseas are up by 20% compared to 2016, through its partnership with online store British Corner Shop.
  • Daily Mail: Soft drinks maker Britvic paid its chief executive £2.1 million last year despite its profits sliding by 9%.
  • The Daily Telegraph: Primark has hired the former Zara Basic head of product, Paula Dumont Lopez, to head up its womenswear division as it attempts to accelerate its international growth.
  • The Guardian: The US government has imposed sanctions on the Israeli billionaire Dan Gertler, whose African business dealings were exposed in the Paradise Papers, over “hundreds of millions of dollars’ worth of opaque and corrupt mining and oil deals” in the Democratic Republic of the Congo.
  • The Daily Telegraph: Apple faces two class action lawsuits claiming that it deceived customers using an "immoral" tactic to slow down older phones.
  • The Times: Germany’s statistics agency is to abandon sending embargoed data to journalists before official publication because of suspected insider dealing, while federal supervisors begin an investigation.
  • The Daily Telegraph: German flight crew working for Ryanair have threatened more strikes after the airline managed to avoid major turbulence in the country during its first ever pilots’ walkout.
  • Financial Times: Vietnam is pushing its fishing industry to clean up its act after a threat of punitive trade measures by the EU, which accuses it of tolerating illegal, unreported, and unregulated fishing on a large scale.
  • The Times: Inflation rose in the US last month as consumer spending accelerated. This gave reassurance to Federal Reserve officials who plan to raise interest rates next year.

Share tips, comment and bids

  • The Times (Tempus share tips): Greene King’s Rooney Anand won’t want last orders.
  • The Guardian: The high street bookmaker Ladbrokes Coral has agreed to a takeover by online rival GVC in a deal worth up to £4 billion.
  • Financial Times: Russian billionaire Mikhail Fridman is on course to become part-owner of a UK gasfield two years after he was ordered by the British government to sell his North Sea assets.
  • The Times (Comment): Has nuclear been stuffed by Hinkley turkey?

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