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Friday Papers: Fiat-Chrysler aims to list in New York

Friday Papers: Fiat-Chrysler aims to list in New York

Top stories

  • Financial Times: Carmaker Fiat-Chrysler is aiming to list in New York within the year, underlining the group’s emergence as a US-centric organisation following chief executive Sergio Marchionne’s successful broker of a full merger of the US group with its Italian partner.
  • The Guardian: Debenhams' chief executive, Michael Sharp, is under mounting pressure to turn around the department store group's performance after its finance director, Simon Herrick, was forced to resign in the wake of this week's profit warning.
  • Financial Times: Mandiant, a US cybersecurity company at the forefront of fighting a new wave of cyberattacks, has been bought for more than $1 billion by FireEye, in a deal that highlights the growing concern about government-backed online spying from China and the US National Security Agency.
  • The Guardian: The 300 richest people on the planet are $524 billion better off than this time last year, with the world's richest man, Microsoft founder Bill Gates, increasing his fortune by $15.8 billion to $78.5 billion over 2013.
  • Financial Times: EADS, the European aerospace and defence group created in 2000, on Thursday changed its name to Airbus.
  • Financial Times: Facebook is facing a class-action lawsuit over claims the social network monitors users’ private messages to sell the data to advertisers.
  • The Independent: Aubrey Lee Price, 47, former director of the Montgomery Bank & Trust and wanted by the FBI in relation to a multi-million dollar fraud, case has been arrested after being declared dead a year ago.
  • Financial Times: Walmart has promised to compensate Chinese customers who bought its spicy donkey meat after a supplier adulterated the popular delicacy with fox meat.
  • Financial Times: Vodafone Egypt was summoned by prosecutors to answer allegations that it planted secret pro-Muslim Brotherhood messages about a terror attack in an online ad featuring a maternal puppet character, Abla Fahita.
  • The Daily Telegraph: Alicia Keys is leaving BlackBerry just a year after joining as 'creative director'.
  • The Guardian: Shell is to pay relocation costs for its outgoing chief executive Peter Voser to move back to his native Switzerland after he quit to spend more time with his family.

Business and economics

  • Daily Mail: Departing Shell boss Peter Voser stands to earn around £16 million from his last 15 months running the oil giant and a series of bonus schemes due to pay out after he leaves.
  • Financial Times: The Financial Industry Regulatory Authority is to crack down on brokers pushing emerging market “frontier” funds and other higher-risk products on unsophisticated retail investors, according to the regulator’s annual preview of its priorities.
  • Financial Times: The world’s factories roared into life towards the end of 2013 as manufacturing activity delivered its fastest growth in almost three years; the global purchasing managers’ index for December rose to its highest reading since April 2011 at 53.3 last month, up from 53.1 in November.
  • The Daily Telegraph: Debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, warns IMF paper.
  • Financial Times: BlackRock is preparing to step in to the fight over the financial future of Detroit, where the treatment of bondholders could set a precedent for struggling towns and cities across the US.
  • The Guardian: The tiny Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering £28 billion, further underlining its position as the world's biggest gambling market.
  • The Independent: A £16 billion tide of overseas money flooded into the London commercial property market last year, fuelling the best year for the capital since the height of the boom in 2007, according to estate agents Jones Lang LaSalle.
  • The Daily Telegraph: British helicopter company AgustaWestland has prepared a "mitigation plan" that involves "a reduction to the workforce" after the Indian government terminated a £465 million contract.
  • Financial Times: Ophir Energy’s successful run in east Africa came to an abrupt halt after drilling at the oil and gas explorer’s well off the coast of Tanzania failed to strike oil or natural gas.
  • Financial Times: The rise of mobile computing is fostering a fresh round of tech start-ups around the world, turning cities such as New York, Tel Aviv and Berlin into magnets for entrepreneurs hoping to cash in on the boom in smartphones and tablets.
  • Financial Times: Rémy Cointreau, the Cognac producer, said on Thursday that Frédéric Pflanz would step down as chief executive after three months at the helm of the company.
  • Financial Times: A European consortium has threatened to suspend a $3.2 billion project to extend the Panama Canal unless the country’s authorities agree to compensate it for $1.6 billion of cost overruns.
  • Financial Times: Total sales at John Lewis rose 7.2% to £734 million for the five weeks to 28 December, despite heavy discounting across the high street in the run-up to Christmas.
  • The Guardian: Ryanair on Thursday said a record 5 million passengers boarded its planes in December, taking annual numbers up to 81 million, 2% more than in 2012.
  • Financial Times: Hyundai Motor and its affiliate Kia Motors are bracing for their weakest sales growth in more than a decade this year as they struggle to compete with Japanese rivals benefiting from a weaker yen.
  • The Guardian: Ford plans to unveil at this month's International CES gadget show a solar-powered concept car that offers the same performance as a plug-in hybrid but without the need for a plug.
  • Financial Times: Copper bounded to a seven-month high amid shrinking stocks of refined product and optimism about the economic outlook in China.

Share tips, comment and bids

  • Financial Times: George Soros has bought 3.1% stake in Spain’s FCC, becoming the second prominent international investor after Microsoft co-founder Bill Gates to bet on the indebted construction company in less than three months.
  • The Daily Telegraph: Rupert Murdoch’s 21st Century Fox focuses growth ambitions on India after sale of Star China TV.
  • The Guardian (Comment): Cheapskate employers are importing what too often looks like serf-labour instead of hiring ethically at home.
  • The Guardian (Comment): Lack of access to non-charging cashpoints is just one example of how the dice are loaded against poor people in a free market
  • The Daily Telegraph (Comment): Persisting with this monetary stimulus will delay recovery and sow seeds of future crises.
  • Daily Mail (Comment – Alex Brummer): January is always the cruellest month for retailers as angry investors and, at the extreme, creditors lose patience with the notion all will be well.
  • Financial Times (Lex): Fannie/Freddie: Private money in the mortgage market will mean higher rates
  • Financial Times (Lex): Debenhams: UK department store woes had better be the result of poor management
  • Financial Times (Lex): Marijuana legalisation: US state finances may be about to receive a boost
  • Financial Times (Lex): Fiat: Italian carmaker seals deal at a price that suits almost everyone

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