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Monday Papers: Vodafone’s $130bn Verizon deal approved

Monday Papers: Vodafone’s $130bn Verizon deal approved

Top stories

  • Financial Times: Vodafone is set to announce on Monday plans to sell its US wireless joint venture stake to partner Verizon after the British telecoms company’s board met on Sunday to approve the $130 billion deal.
  • The Independent: Vodafone’s chief executive Vittorio Colao could be in line for a £5.5 million personal windfall from the sale of its 45% stake in Verizon Wireless to America’s Verizon Communications.
  • Financial Times: The top-20 health and wellness apps, including MapMyFitness, WebMD Health and iPeriod, are transmitting information to up to 70 third-party companies, according to Evidon, a web analytics and privacy firm.
  • Financial Times: Italy will on Monday become the first country to introduce a tax on high-frequency trading in a move that has become a test case for potential further crackdowns on the controversial practice.
  • Financial Times: British banks are to pay £1.1 billion to reimburse savers who lost access to their deposits in Icelandic banks that failed in 2008.
  • The Independent: Goldman Sachs’ London operation has seen pre-tax profits slump 60% to $335 million in the first six months of the year.
  • The Daily Telegraph: Microblogger Twitter has overhauled its legal team ahead of a hotly anticipated stock market flotation in which the technology giant could be valued at $15 billion.
  • The Daily Telegraph: The new Governor of the Bank of England faces a growing struggle to rein in market expectations of a rise in interest rates after new data pointed to the UK recovery’s increasing momentum.
  • Financial Times: The value of property transactions in Europe’s peripheral economies – Portugal, Italy, Ireland, Greece and Spain – hit €2.3 billion during the quarter to July, an increase of 60% on the previous three months, according to research for Cushman & Wakefield, the property consultancy.
  • The Guardian: The idyllic Indian Ocean archipelago of the Seychelles has been revealed as the world's most indebted nation, in a list compiled by campaigners.
  • The Daily Telegraph: Gold could climb to $1,500 an ounce if military action is taken against Syria, City analysts predict.

Business and economics

  • Daily Mail: Economists have attacked the Bank of England’s low interest rates and forward guidance policy, claiming it will fuel inflation and boom and bust.
  • Financial Times: The census - a beacon for statisticians and historians for more than 200 years - will be scrapped under proposals to be unveiled this month in the UK, prompting fears that policy making will suffer from the loss of valuable social data.
  • Financial Times: The City jobs market improved in August with new vacancies up 16% compared with the previous month, according to Astbury Marsden, a financial services recruiter.
  • The Guardian: Agency workers are being paid up to £135 a week less than permanent staff for doing the same job, despite EU rules saying they are entitled to equal pay, claims the TUC.
  • Financial Times: China has ratcheted up its anti-corruption campaign with the detention of the chief regulator of state-owned companies, the highest-ranking official to be placed under investigation by the country’s new leaders.
  • Financial Times: The state-owned Chinese nuclear group that is in talks to invest in Britain’s new nuclear programme wants greater operational control of any new plants it finances, potentially creating a national security headache for the government.
  • Financial Times: A gauge of China’s manufacturing sector jumped to a 16-month high in August as the economy perked up on the back of government policy support.
  • The Independent: M&A activity on London’s junior market has plummeted, with just 49 companies on Aim taken over during the 12 months to the end of June 2013 – the lowest number for seven years.
  • Daily Mail: Naked Wines is looking to raise £3 million through a ‘fine wine bond’ - and is offering to pay a coupon of up to 10% in ‘wine credits’.
  • Financial Times: Vevo, the music video site set up by two of the world’s largest music companies, is about to take a step into the unknown by launching its service in Germany without YouTube as a partner.
  • The Independent: Retail expert Mary Portas will mount a vigorous defence of her efforts to revitalise the high street in front of MPs today.
  • The Guardian: Broadband providers are being asked to create a database of customers illegally downloading music, films and books, which could be used to disconnect or prosecute persistent offenders.
  • Financial Times: Ikea’s new chief executive Peter Agnefjäll has rowed back on his predecessor’s pledge to double the pace of store openings, underlining a power shift at the world’s largest furniture retailer.
  • Financial Times: Tea prices have plunged more than a third over the past year as the crisis in Egypt, the world’s fifth largest importer, has cut demand just as global production has rebounded after several years of bad crops.
  • Financial Times: Sage, the last remaining software company in the FTSE 100, is looking to take advantage of the “huge transformation” in online payments as it tries to double organic growth within three years.

Share tips, comment and bids

  • Financial Times: Condé Nast, the magazine publisher behind Vogue and GQ, has diversified further into the world of ecommerce with the acquisition of a stake in Vestiaire Collective, an online retailer for second hand luxury fashion.
  • The Daily Telegraph: British supercar manufacturer McLaren has taken out a £50 million loan from Royal Bank of Scotland to fund the acquisition of its factory in Surrey, which was opened in November 2011 by David Cameron.
  • The Guardian (Comment): September brought Lehman Brothers' collapse and Northern Rock's run; now Syria, the Federal Reserve and G20 are among latest flashpoints.
  • The Daily Telegraph (Comment): Expect base rate rise as UK economy shows signs of a strong recovery.
  • The Daily Telegraph (Comment): We’re foolish to assume that big business knows best about our trading opportunities in the EU
  • Financial Times (Lex): Greek banks: As first-half results have shown, Greece’s banks are still profitable, but their long-term recovery remains hostage to their sovereign’s fortunes
  • Financial Times (Lex): China’s banks: Until something changes, including more disclosure, Chinese banks’ operating performance will have little bearing on market perceptions
  • Financial Times (Lex): América Móvil: The Mexican company’s entanglement with KPN is hard to interpret. Carlos Slim owes his investors a very detailed account of his European vision

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