The Times
Chris Sullivan, the banker who misled MPs, takes job at Santander: A former top Royal Bank of Scotland Executive who was forced to apologise to parliament for misleading MPs has resurfaced in a senior job at one of Britain’s biggest banks.
Panmure Gordon falls into the red as clients back away from flotations: Shareholders and staff at Panmure Gordon were braced for a miserable Christmas this year after the stockbroker warned that it was heading back towards heavy losses.
Savings fall to lowest in decades as households raid piggy bank: The amount of money that people in Britain squirrel away has slid back to its lowest level in nearly 50 years, as households dip into their savings and take out cheap credit.
Leather gives to protection from global pressures: Pittards, the luxury leather maker, has blamed its second profit warning in three months on slowing global economic growth and events such as the Paris attacks.
M&S star to extend her maternity leave: Laura Wade-Gery, the high-flying businesswoman who was once tipped to run Marks & Spencer, has extended her maternity leave by eight months.
Fight breaks out in ticket queue: A technology company that handles ticket sales for Adele, above, has sued one of the world’s largest concert promoters after accusing it of stifling the market for artist pre-sales.
The Independent
Microsoft and Google Founders sold billions in stock this year: Bill Gates sold a whopping $1.5 billion of stock in Microsoft this year making him the top corporate insider who sold the most stocks in his company, according to a new research.
Nike shares jump as demand in China and the U.S. soars: Nike shares jumped more than 2% in afterhours trading, as a 34% jump in future orders in Greater China impressed.
Misleading broadband ads are ‘hiding the true cost of contracts’: Citizens Advice found more than 56% of consumers are unable to identify the cheapest deal when comparing broadband offers.
Nestle ordered to remove claim Nesquik is ‘great start to the day’ – as it ‘encourages poor nutritional habits’: Nestlé has become embroiled in a new controversy after the company was forced to remove its “great start to the day” claim on one of its products following a ruling that found an advertisement for the high-sugar drink encouraged poor nutritional habits in children.
Financial Times
Noble Group shares rise on Agri stake sale to China’s Cofco: Shares on Noble Group rose 4.5% after the commodity trading company sold the remaining stake in an agricultural business for $750 million – but the deal drew a cool response from a leading rating agency.
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Toymakers aim to top U.K.’s Christmas gift list: U.K. toy sales are forecast to end this year 5% up on 2014’s total of £3 billion – marking the best performance for the industry in five years, according to NPD Group.
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Pharma groups to pay NHS £550 million ‘rebate’: The NHS will receive a £550 million “rebate” from the pharmaceuticals industry next year as part of a deal that drugmakers hope will spur faster adoption of new medicines in the U.K.
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Campaigners hail Apple shareholder move: Apple’s decision to give long-term shareholders a greater say in boardroom appointments is the most significant victory in an almost decade-long push to improve corporate accountability in the U.S., campaigners have said.
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Lex:
Amazon: how to be a bull: Amazon is not easy to value. All we know for sure is that its sceptics get flattened. The shares have more than doubled this year. The company does not yield much free cash — about $1.30 a share, on a share price of $666 — so it is still priced on what it could be, not what it is.
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European banks: left behind: Justin Bonusworthy, fixed income Chief of Rock Capital’s European operation, has lost count of the Chief Executives who have tried, and failed, to overhaul his bank over the past two decades. It has been another year of bank Boss changes in Europe, even at Rock. Despite all the new strategies, Mr Bonusworthy has been a survivor, evident from his elevated position — in altitude terms, at least — on the 30th floor of the bank’s Canary Wharf headquarters.
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Aircraft makers: let the good times roll: Those magnificent men in their flying machines. Airbus has landed a $2.3 billion order at list price for 10 A330 wide-body airliners from China Southern Airlines, which operates Asia’s biggest fleet.
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The Daily Telegraph
Short-sellers target Rolls-Royce despite restructuring: Short-sellers are continuing to target Rolls-Royce despite the Chief Executive of the troubled aircraft engine-maker unveiling a restructuring plan that is aimed at reviving the company’s fortunes.
Game Digital suffers nightmare before Christmas with major profit warning: The video games retailer Game Digital has suffered a nightmare before Christmas as it issued its second major profit warning of 2015, sending its shares plunging by almost 40%.
Eurotunnel hits new record despite Calais migrant disruption: Growing cross-Channel trade has seen Eurotunnel transport a record number of trucks between Britain and the Continent.
AstraZeneca gout drug wins approval from regulators: AstraZeneca has won approval for a new drug that could help millions of gout sufferers around the world.
Syngenta ‘in talks’ as agrochemical industry looks to team up: Syngenta AG Chairman Michel Demare said his company was in “advanced, formal and intense negotiations” with competitors about a possible combination, as the global agrochemicals industry consolidates and the merger of DuPont and Dow Chemical adds pressure on others to review their standalone strategy.
Opec says demand for oil will fall, but prices will rise – eventually: The world’s foremost oil cartel has become more pessimistic about demand for the commodity in the years ahead, but remains upbeat on the prospects of a rally in price.
The Guardian
More pain for George Osborne as ONS cuts U.K. economic growth: George Osborne has received a second pre-Christmas setback after official figures showing a stuttering performance by the economy in the months following the general election put the government’s 2015 growth forecast at risk.
Economy concerns as household debt rises to £40 billion in latest figures: Families are expected to run up £40 billion of debt this year, sparking fears about Britain’s economic recovery.
Amazon and eBay face crackdown over VAT fraud by overseas sellers: Top tax officials are exploring whether Amazon and eBay can be forced to foot the bill for ballooning VAT fraud associated with an army of small overseas sellers who are rapidly coming to dominate sales of many popular items on Britain’s leading shopping websites.
Daily Mail
U.K. consumers are paying 20% higher electricity bills AND face a bigger risk of power cuts, due to EU meddling: Consumers are paying higher electricity bills due to EU climate policies, experts have warned.
Bloated Rolls-Royce must become more efficient and less bureaucratic, says new Boss Warren East: Manufacturing giant Rolls-Royce is riddled with inefficiency and bureaucracy, according to its new Boss.
Struggling African budget airline Fastjet gets the go-ahead to launch flights into Kenya: Low-cost Africa-focused airline Fastjet has got the go-ahead to launch flights into Kenya.
Daily Express
U.K. economic growth weaker than estimated: Britain’s economic recovery has been running out of steam as shock revisions to official figures showed growth was weaker than previously thought for much of 2015.
The Scottish Herald
Shetland oil field start up delayed again amid bad weather: Premier Oil has delayed the start of production from a giant field West of Shetland again amid what it called unprecedented storm fronts off the islands.
Sir Tom Hunter grows property profits as he ponders West Lothian question: Sir Tom Hunter has enjoyed a big increase in the profits made on his property investments but is facing complications with plans for a giant development in West Lothian amid concerns about costs.
Dundee retail site sold to U.S. funds: Funds managed by U.S.-based Ares Management have bought the Kingsway West Retail Park in Dundee from Land Securities.
WSP Parsons Brinckerhoff adds four staff: Engineering firm WSP Parsons Brinckerhoff has added four new recruits to its Scottish workforce.
The Scotsman
Babcock to boost Rosyth site with engineering centre: Engineering support services company Babcock said that it is to develop a multi-million pound state-of-the-art engineering centre at its Rosyth facilities as part of ongoing investment in the site.
InterBulk goes Dutch for £42.1 million: Aim-quoted chemicals transportation firm InterBulk is being taken over by Dutch logistics major Den Hartogh in a £42 million agreed deal, it was announced.
Mega-mergers back in fashion: Mega takeover deals were back in vogue in the City this year, with Bosses becoming more confident as the economic recovery gathered pace. Mergers and acquisition (M&A) activity involving U.K. businesses leapt almost 63% to $565 billion (£381 billion), a 15-year high involving 3,385 deals, according to data firm Dealogic.
Scottish shoppers warned of social media voucher scam: The business resilience delivery arm of Police Scotland and the Scottish Government is warning shoppers to be on high alert following a spate of fraudulent supermarket vouchers appearing on Facebook.
City A.M.
Brent crude oil price rises as U.S. stockpiles drop less than expected – despite disappointing Opec report: Oil rose slightly after figures by the U.S. Energy Department suggested stockpiles of crude oil fell sharply last week – just hours after a report by the world’s largest oil cartel said prices aren’t expected to rise to pre-2015 levels until 2040.
Film Tax Relief reached £251 million this year: Government support for the U.K. film industry through Film Tax Relief reached £251 million this year, generating over £1 billion worth of investment in the U.K.
