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Tuesday Papers: UK growth to slow to 1.5% in 2018

And Australian authorities will probe the crash that killed Compass chief Richard Cousins and his family.

Tuesday Papers: UK growth to slow to 1.5% in 2018

Top stories

  • Financial Times: The UK’s economy will slow further in 2018 as business investment remains on hold, interest rates creep up and indebted consumers curb their spending, according to more than 100 leading economists.
  • Financial Times: Australian authorities have begun investigating the cause of a seaplane crash that killed the chief executive of FTSE 100 catering group Compass and his family on New Year’s Eve.
  • The Times: Amazon is being offered hundreds of millions of dollars, the right to decide how to spend taxpayers’ money and the chance to name a city after itself as US regions compete for the retail giant’s new headquarters.
  • The Times: Rail commuters face spending a far greater proportion of their income on fares than anyone else in Europe after the biggest price rises since 2013.
  • Financial Times: Deutsche Bank chief executive John Cryan has promised staff “normal” bonuses and pay increases for the first time in his two and a half years in charge, as Germany’s biggest lender emerges from its most turbulent period.
  • Financial Times: Brussels is preparing to call for a big increase in EU budget contributions during the 2020s in an effort to sustain the union’s post-Brexit spending power and cope with extra policy goals.
  • Financial Times: Europe’s financial services industry is scrambling to stave off any potential last-minute trading glitches as the major regulatory shake-up of EU financial markets comes into force on Wednesday.

Business and economics

  • The Daily Telegraph: Global business optimism is at a record high, according to a survey by accountancy firm Grant Thornton, but sentiment among UK companies has fallen in the last year as uncertainty over Brexit continues to weigh heavily on corporate confidence.
  • Financial Times: Insurers’ profits are set to remain under pressure after the latest round of contract renewals failed to secure the price increases that many were hoping for.
  • The Times: Revenues at Mind Candy, the British creator of the children’s brand Moshi Monsters and once a darling of the London start-up scene, slumped by more than half in 2016 before it secured a lifeline from investors last year.
  • The Times: One of Britain’s biggest funeral providers Dignity is considering disclosing its prices online and introducing a single national tariff for basic services amid mounting competition and criticism of its business model.
  • The Daily Telegraph: The Co-op has confirmed plans to open 100 new stores across the UK this year, creating an estimated 1,600 jobs, as part of a continued drive to expand its footprint across the country.
  • Financial Times: Airbus remains locked in discussions with Emirates Air Line over a crucial $15 billion deal to rescue its A380 superjumbo programme, even as it closes out 2017 with a record number of deliveries and a higher than expected level of orders.
  • The Daily Telegraph: The traditional desire to find a new job in the new year will ease off in 2018 – but bad bosses have become the biggest reason to drive people to the recruitment market, according to a research by Investors in People (IIP).
  • Financial Times: Chinese state-owned enterprises are establishing institutional compliance systems for the first time, as regulators prepare to implement new anti-bribery guidelines in the latest crackdown on corruption by President Xi Jinping.
  • The Times: The City watchdog levied £208 million more in fines in 2017 than a year earlier as the money-laundering scandal at Germany’s largest investment bank boosted the penalty pool to its highest level since 2015.
  • The Times: Auditors at PWC were negligent and missed a “red flag” over a huge fraud that contributed to the collapse of a bank during the financial crisis, an American court has found.
  • The Times: The Department for Business, Energy and Industrial Strategy has dropped a criminal investigation into P&A Partnership, a firm of insolvency practitioners, accused of a multimillion-pound fee fraud.

Share tips, comment and bids

  • The Times: Patisserie Holdings, the owner of Patisserie Valerie, is preparing to tap shareholders in a move to buy the company behind the Gail’s Bakery chain.
  • The Times (Comment): Forecasters should have seen this coming: their replacement by robots.
  • Financial Times (Comment): Markets must prepare for more volatility.

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