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Saturday Papers: US jobs boost raises chances of taper

Saturday Papers: US jobs boost raises chances of taper

Top stories

  • Financial Times: Another month of better than expected US jobs growth has increased the chances of the Federal Reserve slowing its asset purchases from $85 billion a month when it meets in 12 days time; payrolls data for November showed the US added 203,000 jobs in the month.
  • The Independent: The long wait for a global trade deal intended to lift millions of the world’s poorest out of poverty looked set to end on Friday night with the World Trade Organisation poised to deliver its first agreement in nearly two decades.
  • The Daily Telegraph: IFS says Chancellor George Osborne's use of quick-fix policies risked making firms dependent on a form of subsidy.
  • Financial Times: Barclays profited from lowballing its sterling Libor rate, according to new allegations.
  • The Daily Telegraph: More than a third of Britons now expect interest rates to rise in the coming year, up from 29% three months ago.

Business and economics

  • Daily Mail: Bob Diamond has been summoned to give evidence in a crucial legal battle linked to Barclays’ manipulation of Libor interest rates.
  • Financial Times: Glencore Xstrata plans to drop the ‘Xstrata’ from its corporate name.
  • The Daily Telegraph: Former Goldman Sachs trader Matthew Taylor jailed over unauthorised $8 billion trade.
  • Daily Mail: Big Four accountancy firm PwC has lost its third big audit client within days after Berkeley Homes said it was switching to KPMG.
  • The Guardian: Berkeley has unveiled a near-20% jump in half-year profits and said it was building more homes than at any time since the 2008 financial crash.
  • Financial Times: The first privately run NHS hospital has earned high ratings in two national reports on care standards - increasing the likelihood of greater commercial involvement in the UK health service.
  • Daily Mail: E.On has yesterday completed the avalanche of hikes from the Big Six this Winter, announcing a 3.7% rise in its prices.
  • Daily Mail: JCB, the engineering company best known for its iconic diggers and bulldozers, is to create 2,500 new jobs in the UK by 2018 as it announced a £150 million investment plan.
  • Financial Times: The Sun has attracted more than 100,000 subscribers to its website and apps in the four months since it became the first tabloid newspaper in the UK to start charging for online content.
  • Daily Mail: Royal Bank of Scotland has admitted that NatWest's online banking website was crashed by hackers today in a 'DDoS' attack just days after an unrelated IT meltdown left customers unable to use cards or cash machines.
  • The Guardian: The Post Office made an operating profit of £53 million in the first half of the financial year, £8 million down on a year ago, new figures have shown.
  • Daily Mail: West Brom building society has launched a range of low deposit mortgages that put it head-to-head with many of the best buys.
  • Financial Times: The chairman of Domino’s Pizza Stephen Hemsley could return to head the FTSE 250 group once again after its chief executive abruptly announced he was quitting.
  • Daily Mail: Aldermore has pledged to allow homeowners to remortgage using the Help to Buy mortgage guarantee once it joins the scheme.
  • The Independent: FirstGroup has named City stalwart John McFarlane as its new chairman.
  • Daily Mail: Car giant General Motors is to axe its budget Chevrolet brand in Britain and Europe from the beginning of 2016 in a bid to focus more sharply on Vauxhall in the UK and Opel on the Continent.
  • Financial Times: Ireland’s second real estate investment trust has launched, raising €365 million in its initial public offering; Hibernia Reit is larger than Green Reit, Ireland’s first such trust which raised €310 million when it launched in July.

Share tips, comment and bids

  • The Daily Telegraph: AZ Electronics shareholder Threadneedle rejects Merck £1.56 billion takeover; Threadneedle says Merck's 403.5p takeover offer "significantly undervalues" London-listed speciality chemicals group as it raises stake in AZ to above 11%.
  • Financial Times: Nestlé is selling its entire 10% stake in Givaudan, the Swiss maker of scents and flavourings, as it presses ahead with plans to refocus its business and tidy up its balance sheet.
  • The Guardian: TA Associates, the private equity group which acquired 65% of Cath Kidston three years ago, is seeking bidders in a process that could value its founder's stake at nearly £60 million.
  • Daily Mail (Comment): But the Government's £375 billion infrastructure plan is just that - a plan, not a reality. And, in the real world, a number of flagship projects are behind schedule.
  • The Daily Telegraph (Comment): Banking faces a revolution, but not if regulators can prevent it.
  • Daily Mail (Comment): The hope was that the current recovery would be export-led, fuelled by a devalued pound and the downward pressure on costs as a result of the recession.
  • The Daily Telegraph (Comment): France fights back against German 'Sick Man of Europe'.
  • Financial Times (Lex): US banks: if the final Volcker rule attempts to say definitively what is acceptable in the new world of banking and what is not, it is doomed to fail.
  • Financial Times (Lex): Berkeley Group: UK plans to charge capital gains tax on foreign property investments will not damage London’s appeal as a global hotspot.
  • Financial Times (Lex): Nestlé: after planing a sale of its 10% stake in fragrance maker Givaudan, Nestlé has good reasons for a disposal of L’Oréal when a lock-up expires next April.

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