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Saturday Papers: Global stocks ending bumper year on a high

And Trump’s tax law slices $5 billion off the bottom line at Goldman Sachs.

Saturday Papers: Global stocks ending bumper year on a high

Top stories

  • Financial Times: Global stocks this year enjoyed their best annual performance since the post-crisis recovery, as accelerating economic growth across the world helped power several major markets to double digit gains.
  • The Times: Goldman Sachs will take a $5 billion hit to its profits from the new tax law signed by President Trump last week.
  • The Daily Telegraph: Airbus has ended the year with a near-$60 billion (£44.5 billion) rush of demand for its bestselling A320 airliner, announcing 100 new orders and confirming details of a massive sale revealed last month.
  • Financial Times: An executive of a UK-registered cryptocurrency exchange kidnapped in Ukraine this week has been released after paying a ransom of more than $1m in bitcoins, according to an adviser to the Ukrainian interior minister, in a crime he dubbed “bitcoin kidnapping and extortion”.
  • Financial Times: Securitisations of US car loans hit a post-financial crisis high in 2017, as investor demand for yield continued to provide favourable borrowing conditions across a range of credit markets.
  • The Times: Travel firms are using misleading discount claims to lure holidaymakers into paying hundreds of pounds more than necessary for flights and accommodation, an investigation has found.

Business and economics

  • The Daily Telegraph: Airbus has ended the year with a near-$60 billion (£44.5 billion) rush of demand for its bestselling A320 airliner, announcing 100 new orders and confirming details of a massive sale revealed last month.
  • The Times: The booming jobs market beat almost all expectations this year, with the unemployment rate dropping significantly lower than some respected economic forecasters had anticipated.
  • The Daily Telegraph: Spending on going to the cinema, theatre, pubs and restaurants boomed in the last year as British consumers opted to splash out on experiences while reining in other “nice-to-have” purchases amid rising prices.
  • Financial Times: China’s banking watchdog has issued new rules that cut red tape for foreign banks operating on the mainland, a step towards fulfilling a pledge to increase market access following US president Donald Trump’s visit last month.
  • Daily Mail: Shares in the world's oldest stamp business Stanley Gibbons plummeted more than 30% to just 3.8p after reporting half-year losses and saying it could sell more assets to bolster its finances.
  • Financial Times: Brookfield Property Partners, the world’s second-largest real estate fund manager, plans to profit from London’s growing army of renters as home ownership becomes unaffordable.
  • The Guardian: An unprecedented inheritance boom is heading the way of today’s younger generation but it will result in higher wealth inequality and will arrive too late for most people currently excluded from the property ladder, according to a leading thinktank.
  • Financial Times: Ripple has passed Ethereum to become the world’s second most valuable cryptocurrency by market capitalisation after the California-based cross-border payments company enjoyed an end-of-year jump in its market price.
  • The Times: Vivian Hunt, managing partner at McKinsey & Co and one of the most influential black business leaders in Britain, has been rewarded with a damehood in the new year’s honours.
  • The Daily Telegraph: A German court has ordered Amazon not to lure internet shoppers to its online marketplace when they mistakenly search for “Brikenstock”, “Birkenstok”, “Bierkenstock” and other variations in Google.
  • The Times: Prosecutors in France are investigating allegations that Epson fools consumers into replacing perfectly good printers.
  • Financial Times: Bill Ackman, the activist fund manager, has attempted to draw a line under his ill-fated association with Valeant, agreeing to pay $194 million to settle claims that he profited from insider trading in the duo’s attempted takeover of Allergan.
  • The Daily Telegraph: Two Italian brothers who started a fashion company called Steve Jobs have defeated Apple in a trademark dispute.

Share tips, comment and bids

  • The Times (Tempus share tips): Even at the record high, the FTSE 100 could continue to rise into next year.
  • Financial Times: Todd Boehly, the entertainment investor, is bringing together three Hollywood companies in a complex deal that will merge the maker of House of Cards with the owner of The Hollywood Reporter magazine and the producer of The Golden Globes awards show.
  • Daily Mail: Balfour Beatty is to bank £62 million by selling an extra 7.5% stake in Connect Plus, the company which operates and maintains the M25.

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