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Wednesday Papers: Airbus challenges Boeing with vow to create US jobs

Wednesday Papers: Airbus challenges Boeing with vow to create US jobs

Top stories

  • Financial Times: Airbus on Tuesday threw down a challenge to Boeing in its home market declaring it would turn Bombardier’s C Series passenger jet into “an American aircraft that will create American jobs”.
  • Financial Times: Inflation in the UK rose to its highest level for half a decade in September, raising pressure on the Bank of England to raise interest rates at the next monetary policy meeting early next month.
  • The Times: Theresa May is facing a toxic cabinet battle over the future of university funding after her £2 billion promise to freeze student tuition fees ran into opposition.
  • The Daily Telegraph: Britain’s biggest care provider has made an urgent appeal to its lenders to agree to radical restructuring of its heavy debts to avert a cash crisis that would cast uncertainty over the future of hundreds of nursing homes nationwide.
  • Financial Times: Merlin Entertainments, owner of Legoland and Madame Tussauds, downgraded its full-year profit expectations on Tuesday, sending its shares tumbling, after warning that “difficult” summer trading in the aftermath of UK terror attacks would persist.
  • Financial Times: Third-quarter figures released by Goldman Sachs and Morgan Stanley on Tuesday smashed analysts’ forecasts, boosted in part by the financing of corporate takeovers and loans to rich clients.
  • The Daily Telegraph: Rio Tinto has been charged with fraud in the US and handed down a £27.4 million fine in the UK over its handling of its coal assets in Mozambique.

Business and economics

  • Financial Times: The head of the UK’s financial watchdog Andrew Bailey has rebuffed criticism that it met with Saudi Aramco before proposing changes to listing rules ahead of the oil giant’s mooted initial public offering, arguing the plans offer “integrity”.
  • The Daily Telegraph: Bellway has built a record number of homes and raked in more profits on the back of strong consumer demand for its homes, low interest rates and the Government's Help to Buy scheme.
  • Daily Mail: Online fashion retailer Asos defied the squeezed on consumers and struggles of other retailers as it more than doubled its profits and raised sales forecasts for 2018.
  • The Daily Telegraph: Shares in Revolution Bars dropped as much as 8% after a second potential suitor stonegate in two weeks was left unable to secure a deal.
  • The Daily Telegraph: The troubled education giant Pearson has suffered a further decline in its core American textbook business in the third quarter but avoided its worst fears, to the relief of investors.
  • Financial Times: Volvo will use its new Polestar brand to take on Tesla’s Model 3, with a long-range electric car offered under a subscription service in 2019.
  • Financial Times: Royal Dutch Shell has opened its first charging points for electric vehicles at UK filling stations in a further sign of the Anglo-Dutch group’s diversification beyond fossil fuels.
  • The Guardian: Sainsbury’s is axing 2,000 store and back office roles as the supermarket chain looks to slash costs by £500 million amid an intensifying price war with Aldi and Lidl.
  • The Daily Telegraph: The new kingmakers of German politics have dashed hopes for a Franco-German ‘Grand Bargain’ to relaunch the eurozone, dismissing plans for a joint budget and shared banking debts as totally unacceptable.
  • Financial Times: Uber has suffered another executive departure, with its head of policy for Europe, the Middle East and Africa quitting the ride-hailing company to join electric vehicle charging network ChargePoint.
  • The Daily Telegraph: Under-pressure budget airline Ryanair has lured its former flight operations director Peter Bellew back to the fold from Malaysia Airlines.
  • Financial Times: Kobe Steel is under scrutiny in the US after the Department of Justice asked the Japanese group to submit documents related to a widening data falsification scandal, according to the company.

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