The Times
RBS at risk from huge exposure to property: Royal Bank of Scotland faces trouble next year because of its huge exposure to commercial property, an area that some experts believe to be a dangerous bubble.
Boost for North Sea from new field: Britain’s biggest oil and gas project in years is set to come onstream in the North Sea this week, when the first gas flows through underwater pipelines to a new plant in the Shetland Islands.
Nike runs rings around adidas’s multimillion-pound superstars: Nike is poised to win its long-running battle with adidas to become the biggest player in Europe’s $56 billion market for trainers, tracksuits and sports kit.
Old-fashioned banks lose out: Banks are at risk of losing the best graduates to technology companies because of perceptions that they are old-fashioned and lack innovation.
Black Friday and Cyber Monday had little impact: Black Friday and its internet rival Cyber Monday barely any effect on overall consumer spending last month, retail experts say.
Mike Ashley’s family ties in investment fund: The 26-year-old boyfriend of Mike Ashley’s daughter has been put in charge of a £250 million investment fund and the roll-out of Sports Direct’s new fitness superstore brand.
Plan to boost shared-equity home owning: Families who part-buy, part-rent their homes will be allowed to trade up to larger shared-Ownership properties, David Cameron will announce.
The Independent
Investors fear Mike Ashley is plotting Findel closure: Investors in the online sports and gifts retailer Findel are worried that Sports Direct might prompt the company towards administration if it appoints a representative to the board, The Independent understands.
Cadbury Owner Mondelez International ‘paid no U.K. tax’ for five years since £11.5 billion takeover in 2010: The U.S. company that owns Cadbury U.K. is still not paying corporate tax in Britain, it has emerged.
Financial Times
Sovereign wealth funds withdraw $19 billion from asset Managers: Sovereign wealth funds in the Gulf have been pulling money out of asset Managers at the fastest rate on record as they rush to boost their economies following the collapse in the oil price.
https://next.ft.com/content/934f6f1c-9aab-11e5-be4f-0abd1978acaa
Energy group hails Scotland’s renewables policy: The head of Spanish energy group Iberdrola has called Scotland an “example to the world” of how carbon prices and government support for renewable energy can reduce reliance on fossil fuels.
https://next.ft.com/content/a6da9c8e-9c0c-11e5-8ce1-f6219b685d74
Skills shortages drive up U.K. construction prices: A growing skills shortage in the construction sector is causing London’s biggest building contractors to turn down one in two bidding opportunities in the capital.
https://next.ft.com/content/fbf58576-9a9a-11e5-be4f-0abd1978acaa
Glencore expects to cut debt ahead of schedule: Glencore, the resources group hit by falling commodity prices, is to tell investors that it expects to complete its $10.2 billion debt reduction plan before the end of 2016, earlier than previously expected.
https://next.ft.com/content/3cbf9906-9c18-11e5-b45d-4812f209f861
Luye Medical to buy Healthe Care Australia in $700 million deal: Chinese pharmaceuticals group Luye Medical will buy Australian private hospital operator Healthe Care Australia in a $700 million deal that underlines the ambitions of China’s healthcare industry for expansion as well as its interest in acquiring expertise to bring home.
https://next.ft.com/content/67c7bbe2-9bfa-11e5-8ce1-f6219b685d74
Gimlet fundraising caps podcasting revival: Gimlet Media, the U.S. podcast network started by former National Public Radio producer Alex Blumberg, has raised $6 million in funding that values the company at $30 million in a round led by Graham Holdings, the former Owner of the Washington Post.
https://next.ft.com/content/841b9cbc-9ad5-11e5-be4f-0abd1978acaa
Avon Chairman agrees to open talks with activist investors: Avon’s Chairman is set to open dialogue with Barington after refusing for months to engage with the activist shareholder, which is demanding management changes and cost cuts.
https://next.ft.com/content/083102f4-9c2e-11e5-b45d-4812f209f861
Lex:
OnDeck/JPMorgan: Fine tech: Like most of the next big things in alternative finance, OnDeck Capital has not really turned out as promised. With the anniversary of its initial public offering approaching later this month, shares in the small business-focused online lender are down by almost half from the offer price. It is vying with Etsy, the crafters’ marketplace, as the worst performing tech IPO of the past 12 months.
https://next.ft.com/content/c22c9834-9a4a-11e5-987b-d6cdef1b205c
The Daily Telegraph
Accountants warn new red tape cuts bring risk of fraud: Accountancy body ICAEW says raising 11,000 smaller firms out of audit rules could mean crimes going undetected.
Lord Heseltine: ‘Devolution of power will start new industrial revolution’: The devolution of power to cities outside London is “a reincarnation of the dynamics that made this country great in the first place,” Tory grandee Lord Heseltine has said, claiming that Britain is on the cusp of “revolution”.
China to overtake U.S. as biggest electric car market: China is forecast to become the world’s biggest electric car market this year, with sales estimated at 220,000 to 250,000 vehicles, the official news agency Xinhua said on Sunday, quoting the China Association of Automobile Manufacturers.
Greece passes ‘tough’ austerity-extending 2016 budget: The Greek parliament approved a “tough” 2016 budget on Sunday morning, which will include large spending cuts and tax increases. Despite this, it assumes the 2016 recession to be less severe than forecast.
Graze sales in supermarkets ‘could overtake’ online revenues: Just six months after it began supplying snack bars to U.K. supermarkets, Graze has revealed that offline sales could overtake sales of its online subscription boxes.
Minicabit secures fresh funding weeks after £1.4 million investment: Minicabit has raised a significant sum from two high-profile personal investors just weeks after closing a £1.4 million funding round.
The Guardian
Half of £24 billion nuclear reactor investment will go to overseas suppliers: More than half of the £24 billion expected to be spent on the first British nuclear reactors for two decades could go abroad to foreign suppliers, a leading U.K. academic and government adviser has warned.
Buyers in England and Wales benefiting from stamp duty changes: Homebuyers in England and Wales are typically paying £4,500 less in stamp duty than before the government overhauled the system a year ago, according to research by Halifax.
Forestry sales notch up Scottish record: Forestry sales have reached a record £151 million in Scotland, smashing the previous record by 50%.
British Gas appeal in holiday pay case goes to employment tribunal: The issue of whether holiday pay should be bumped up to include additional benefits to go towards commission payments goes to an employment tribunal this week.
David Cameron to force public sector to pay for 200,000 apprentices: The public sector will be forced to pay for 200,000 more apprenticeship places to deliver on the government’s election manifesto commitments.
Daily Mail
Thousands of steelworkers given fresh hope as Tata closes in on deal to secure future of Scunthorpe plant: Thousands of steelworkers have been given fresh hope as Tata closes in on a deal to secure the future of its Scunthorpe plant and other smaller ones around the country.
Watchdog for central banks warns hike in U.S. interest rates could bring dramatic end to current ‘uneasy calm’ in financial markets: A hike in U.S. interest rates could bring a dramatic end to the current ‘uneasy calm’ in financial markets, the watchdog for central banks has warned.
New Boss at Mulberry under pressure to prove that English label is coming back into fashion: The new Boss at Mulberry is under pressure to prove that the English label is coming back into fashion.
Betfred’s billionaire Owner hoping to cash in on £2.3 billion merger of rivals Ladbrokes and Coral: Betfred’s billionaire Owner is hoping to cash in on the £2.3 billion merger of rivals Ladbrokes and Coral.
HSBC to slash pensions for senior Executives following backlash from investors: HSBC is to slash pensions for senior Executives following a backlash from investors.
The Scottish Herald
Kaiam Founder targets Scottish research base: Californian photonic circuits maker Kaiam hopes to create a high-value research and development facility at its Livingston plant over the next few years as it builds what its creator says could become a “billion dollar company”.
Caravan park operator in £1 million Ayrshire investment: Caravan park operator Verdant Leisure is to invest £1 million expanding its site in Ayrshire and is eyeing acquisitions as demand for staycations remains strong in Scotland in spite of this year’s bad weather.
Scottish growth at risk from lopsided economy says Item Club: Scotland’s economy has grown by only 1.9% this year against an expected 2.2%, and 2.5% for the U.K., says the EY Scottish Item Club. It now expects 1.8% growth in 2016.
IPOS on fast growth track: Intelligent Point of Sale, developer of a tablet-based till system for the retail and hospitality sector, quadrupled turnover last year to over £1 million. The Edinburgh-based start-up says it has more than doubled clients to over 1000 in the past 10 months.
SCDI calls for new economic policy initiatives: Scotland needs independent commissions for productivity and infrastructure, a network of technology hubs, and a new partnership approach to trade and investment, the Scottish Council Development and Industry has said.
The Scotsman
Productivity key for ‘fragile to agile’ economy: Scottish businesses must address the key issues of productivity and digitisation if the economy is be transformed “from fragile to agile”, a report argues.
Global gloom casts cloud over U.K. manufacturers: U.K. manufacturing firms are having a difficult end to the year amid “gathering gloom” from the global economy, a report published indicates.
Edinburgh firm makes point with 300% sales surge: An Edinburgh-based company that specialises in “disruptive” technology for the retail and hospitality sectors has outstripped its growth targets for 2015 with a 300% hike in sales.
City A.M.
Oil prices could stay under $50 as defiant Opec fails to reach agreement on production levels: Oil prices could remain stuck under $50 amid one of the worst supply gluts in history, as a defiant Opec failed to agree new production levels at an acrimonious meeting at the end of last week.
Morgan Stanley preparing to axe up to a quarter of staff in its fixed income division: Morgan Stanley staff are bracing themselves for another week of redundancies as the banking giant wields the axe at its fixed income division.
Bankers’ bonuses could drop by 10% due to reduced number of IPOs: Bankers are being warned that bonuses could plummet by almost 10% as the annual salary-sweetener season kicks off, with zero-bonuses expected to make a comeback in 2016.
U.K. businesses’ total borrowing against invoices reaches £16 billion: Businesses have borrowed £16 billion against unpaid invoices, according to figures released by the (ABFA) Asset Based Finance Association.
Plans to build the City’s tallest skyscraper unveiled: Plans to build the City’s tallest skyscraper and London’s second highest building – rivalled only by the Shard – have been unveiled.
Lloyds automotive report: Car makers fear exports will stall as global economy slows: Britain’s car makers are becoming more pessimistic on their growth prospects, citing a weak global economy as the main reason. A survey of 100 U.K. car firms showed the global economy was the biggest concern for 43% of them, making it the top worry for the second year running.
Almost half of firms failing to meet corporate governance standards, and not enough attention being paid to culture and values: Almost half of FTSE 350 companies failed to measure up to all the standards in the Financial Reporting Council’s (FRC) U.K. Corporate Governance Code.
Permanent placements rocket up at their fastest rate for seven months while pay also increases: Permanent job placements rose at their fastest rate for seven months in November, while pay also increased.
Unions and businesses get together to urge government to act fast on Heathrow expansion plans: Business groups and trade unions have teamed up to urge the government to act quickly over the proposed third runway at Heathrow airport.
