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Wednesday Papers: Uber hit with Germany ban

Wednesday Papers: Uber hit with Germany ban

Top stories

  • Financial Times: Uber is facing its biggest legal challenge so far after its most popular service was banned throughout Germany, marking the first time the disruptive taxi app has been hit with a countrywide restriction.
  • Financial Times: The prospect of a close vote on Scottish independence sent jitters through the City of London on Tuesday, as markets reacted for the first time to what one senior banker called “the unfathomable levels of uncertainty” associated with a Yes vote.
  • The Daily Telegraph: Russia's currency has dropped 25% over the past 18 months but Vladmimir Putin is showing no signs of backing down over Ukraine.
  • The Guardian: Britain's builders enjoyed the strongest growth for seven months in August but the surge in activity put further strain on already tight supplies of materials and skilled workers.
  • The Independent: Firms will face huge fines for failure to report economic crime, under measures being considered by the Government, the attorney general said.
  • Financial Times: According to an options paper circulated in European capitals on Tuesday, the EU is considering whether to recommend suspending Russia from “high-profile international cultural, economic or sporting events” including Formula One races, European football competitions and the next World Cup, awarded to Russia in 2010.
  • Financial Times: Halliburton, the US oil services group, has agreed a $1.1 billion settlement to resolve damages claims from individuals, businesses and local governments over its role in the 2010 Deepwater Horizon disaster.
  • The Daily Telegraph: Scotland must choose between independence and keeping the pound if it wants to remain part of the European Union, according to the bloc's top economic official Olli Rehn.
  • The Daily Telegraph: Shell put pressure on Obama to end 40-year oil export ban as the head of the FTSE-100 oil giant said move would make the global energy system more stable.

Business and economics

  • Financial Times: Aston Martin has named senior Nissan manager Andy Palmer as its new chief executive following a near year-long search, as the luxury British carmaker steps up efforts to regain lost ground on its high-end rivals.
  • Financial Times: Leonardo Del Vecchio, founder of Italian eyewear group Luxottica, which earlier this year signed a deal with Google to develop its $1,500 interactive headset Google Glass, has said he would not wear the device in its current form.
  • Financial Times: New Scotland Yard, the headquarters of the Metropolitan Police, will be put up for sale on Tuesday at a guide price of £250 million, ending half a century of police tenancy in the London office block.
  • Financial Times: The European Central Bank is facing renewed pressure to take radical steps to boost the eurozone’s flagging economy after recovery in the region’s manufacturing sector all but petered out, raising the threat of a prolonged period of stagnation.
  • Financial Times: BP has tried to remove the administrator of compensation payments under its settlement for the 2010 Deepwater Horizon disaster, accusing him of a “clear-cut conflict of interest” that he had failed to disclose fully.
  • Financial Times: Jefferies, the independent investment bank, announced record revenues of $835 million in the third quarter, with strong revenues from deals and solid trading activity lifting the mood on Wall Street.
  • Financial Times: Water shortages pose a bigger threat to the global shale oil and gas industry than is widely realised, according to one of the most detailed studies to date of how much water is available at some of the world’s most promising shale sites.
  • Financial Times: Jeff Bezos has picked a founder of the digital news organisation Politico as the Washington Post’s next publisher in the most visible change at the US newspaper since the Amazon chief bought it for $250m last year.
  • Financial Times: Franck Riboud, Danone’s chairman and chief executive, is to split his role after 18 years at the helm of the French yoghurt-maker, once described by French politicians as a “jewel” but which has recently faced a spate of setbacks.
  • Financial Times: Fyffes and Chiquita, the banana distributors seeking to keep their proposed merger on course, have hit out at the Brazilian interlopers whose all-cash rival offer threatens to derail their attempt to create a global distribution group with combined sales of $4.5 billion.
  • Financial Times: With an overhaul of a landmark welfare programme and the announcement of a major new Mexico City airport to quadruple capacity, Enrique Peña Nieto is seeking to translate his reform agenda into tangible returns for sceptical Mexicans.
  • Financial Times: McCarthy & Stone has pledged to invest £2 billion in thousands of new retirement homes as it seeks to cash in on growing demand from over-65s looking to downsize.
  • Financial Times: Complaints about payment protection insurance have fallen by nearly one-third in the six months to the end of June, suggesting the storm over the UK’s worst consumer scandal is beginning to recede.
  • Financial Times: Shares in 4D Pharma, the biotech venture backed by investor heavyweights Neil Woodford and Lansdowne Partners, rose 10% on Tuesday on news that two of its treatments for irritable bowel syndrome and paediatric Crohn’s disease are to start clinical trials next year.
  • Financial Times: The Serious Fraud Office is planning to make more arrests in its investigation into allegations of bribery and corruption at Rolls-Royce, according to the agency’s head.
  • Daily Mail: Land Rover has joined the space-race with a new seven-seater ‘baby’ Discovery and a plan to send four prospective customers into orbit with Sir Richard Branson.
  • Daily Mail: Royal Mail will begin delivering letters and parcels and opening offices on Sundays from this weekend; the postal service will trial deliveries inside the M25 this Sunday, with a view to expanding it across the whole network.
  • Daily Mail: British housebuilder Redrow revealed it has been given a huge boost by the Government’s Help to Buy Scheme but said the housing market has started to return to ‘normal’.
  • Daily Mail: The number of people struggling with payday loan debts has shot up by 42% this year, debt charity StepChange warned today.
  • The Guardian: Britain has moved up a list of the world's best performing economies, according to a global thinktank that praised the government for reducing the public sector deficit and maintaining one of the most flexible labour markets in the developed world.
  • The Guardian: Ukraine could need a further $19 billion in emergency international funding by the end of next year if there is no resolution to the escalating conflict in the east of the country, the International Monetary Fund (IMF) has warned.
  • The Guardian: A row has broken out between the corporate governance adviser Pirc and the online betting company Betfair, with the bookmaker accusing the former of "materially misrepresenting" facts.
  • The Guardian: Visits to retail websites via mobile devices have overtaken desktop traffic for the first time, figures show; some 52% of visits were made via a mobile, while 36% of UK online sales are now completed on a smartphone or tablet device - rising to 40% for clothing sellers, the latest IMRG Capgemini Quarterly Benchmarking Report has revealed.
  • The Guardian: The Co-operative Group is to sell off its Sunwin security services operation - the latest disposal by the troubled mutual, which is offloading surplus businesses to raise cash.
  • The Independent: Almost half of British people don’t have any kind of pension, alarming research published by the Chartered Institute of Payroll Professionals has revealed.
  • The Independent: Goldman Sachs bankers based in London are set to receive bigger bonuses after pre-tax profits trebled to $1.1 billion (£662 million) in the first half due to a surge in investment banking work.
  • The Independent: Major City banks and fund managers including Deutsche Bank, Invesco and State Street have rushed to dump tens of millions of pounds worth of Tesco shares since Friday’s profit warning.
  • The Daily Telegraph: US factories have torn away from their eurozone rivals, boasting the strongest growth of more than 30 countries; the US' manufacturing sector has posted the highest purchasing managers’ index (PMI) reading seen since April 2010, at 57.9 this August, according to Markit.
  • The Daily Telegraph: Apple said its system was not breached despite hacker stealing Jennifer Lawrence naked pictures.
  • The Daily Telegraph: Battle for America's poorest shoppers intensifies as Dollar General warned it may go hostile for Family Dollar.
  • The Daily Telegraph: Level of British takeovers fell to record low as the M&A market plays catch up, according to official figures.
  • The Daily Telegraph: Prime Minister Tony Abbott's deal to abolish mining tax may signal problems ahead for Australia's resource dependent economy.

Share tips, comment and bids

  • Financial Times: Trafigura, one of the world’s largest commodities traders, plans to sell a controlling stake in docks, tanks and other assets around a booming Texas oil port as uncertainty looms over sales of US petroleum abroad.
  • Financial Times: Cargill, the agricultural commodities trader, has strengthened its presence in the cocoa and chocolate sector by buying the manufacturing operations from rival Archer Daniels Midland.
  • Financial Times (Lex): Moelis / Cantor: the buck stops here.
  • Financial Times (Lex): Brazil: Silva lining.
  • Financial Times (Lex): Indian banks: wilful neglect.
  • Financial Times (Lex): Luxottica: double vision.
  • Financial Times (Lex): Base metals: zinc or swim.

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