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Saturday Papers: Tech group funding gulf widens

And President Barack Obama is preparing to impose new controls on gun sales.

Saturday Papers: Tech group funding gulf widens

Top stories

  • Financial Times: A chasm has opened between the private and public financing of fast-growing tech groups as more Silicon Valley companies shun initial public offerings, contributing to a sharp fall in global listings of all kinds; tech companies raised less than $10 billion through IPOs in the US in 2015, according to Dealogic, compared with $41 billion the year before.
  • Financial Times: President Barack Obama is preparing to impose new controls on gun sales at the start of his final year in office as he seeks to tackle an “epidemic” of violence over which he has voiced deep frustration.
  • Financial Times: Airbus has won the first new customer in two years for its A380 superjumbo; ANA Holdings of Japan has agreed to buy three of the world’s largest passenger jets.
  • The Daily Telegraph: All but two UK-registered banks have signed up to a Government scheme encouraging lenders to avoid using tax avoidance schemes; HMRC said the amount of money in tax avoidance schemes has fallen from £3.2 billion in 2013 to £1 billion.
  • Financial Times: Seneca Capital has become the latest hedge fund to remove external investors; the event-driven fund recorded losses of about 6% this year.
  • Financial Times: The race to take all the biggest stakes in the European market for takeout food delivery apps is largely over - at least for now; after years of fierce competition, the main protagonists hope to free themselves from a ruinous marketing war and build on their dominance in key markets.
  • The Guardian: A further slowdown in China’s vast manufacturing sector has intensified worries about the year ahead for the world’s second largest economy; factory activity cools for fifth month running as overseas demand for Chinese goods continues to fall.

Business and economics

  • Financial Times: Russia has formally initiated legal proceedings against Ukraine over the non-payment of a $3 billion debt, setting the stage for the latest dispute between the two countries to play out in English courts.
  • Financial Times: The rate at which UK property companies entered insolvency reached its highest point in six years in 2015 as rising property values prompted lenders to put “zombie” companies out of their misery and reclaim their assets.
  • Financial Times: Brevan Howard’s $20 billion flagship fund is down for a second year in a row in a further blemish to the trading record of one of the largest hedge funds in Europe.
  • Financial Times: Opening day “pops” are back under discussion after Square’s share price surged 45% on its trading debut in New York and a month later Atlassian jumped 32% on its US float.
  • The Guardian: Rolls-Royce is facing fresh questions over its ties to an influential Brazilian businessman after he was charged in connection with a high-profile corruption investigation known as Operation Black Blood.
  • The Independent: NatWest and Royal Bank of Scotland customers have vented their anger after being hit by yet another banking glitch – this one affecting people using their debit cards in shops.
  • Daily Mail: Ruffer Management said in its annual accounts that its highest-paid director, whom it did not identify, received more than £19 million in the year to the end of March 2015, compared with £9.9 million in the same period a year ago - a 92% rise.
  • Daily Mail: The warm winter weather, floods and terrorism are likely to figure among the excuses wheeled out by Marks & Spencer to explain a dire festive update; City experts fear Britain's biggest clothing retailer will report a decline of as much as 5.5% over the third quarter in 'general merchandise' sales – the category that includes womenswear and men's fashions.
  • The Daily Telegraph: David Fischel, chief executive of Intu, said that the business rates system is “absolutely putting off international retailers from coming to the UK”.
  • The Daily Telegraph: India was the world’s fastest growing aviation market in 2015, expanding more than 20% as economic growth on the subcontinent picked up.

Share tips, comment and bids

  • The Daily Telegraph: Supermarket customers across the UK will now be able to join in the ‘#BeanRevolution’ and celebrate the international year of the pulse, after Irish meal maker Cool Beans secured a deal to distribute its products in Waitrose.
  • The Daily Telegraph (Comment): Economic sweet spot of 2016 before the reflation storm.
  • The Daily Telegraph (Comment): Europe is looking up – some good news to start 2016.
  • Financial Times (Lex): Europe is looking up – some good news to start 2016.
  • Financial Times (Lex): Apple car: plan is either the worst-kept secret since its watch or a cracker of an inside joke.
  • Financial Times (Lex): Provident Financial: Since 2009, its net income has more than doubled to £193 million.
  • Financial Times (Lex): Leveraged buyouts: regulators and valuations made 2015 tough. Debt investors will challenge in 2016.

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