Newspapers: The Times, Independent, FT, Telegraph, Guardian, Mail, Express, Herald 301115

The Times

Power supply ‘is critical as coal plants shut down’: The operator of Britain’s biggest power station has warned that meeting the nation’s electricity needs will be a close-run thing for years as ageing coal plants are retired from service.

Taxman’s new ‘stealth penalty’ on refunds provokes fury: Business groups have attacked the government for “changing the goalposts” after a new rule that companies winning disputes with HM Revenue & Customs will be taxed heavily.

Ex-FBI agent investigates Neil Woodford’s $24 million loss on Northwest Biotherapeutics: One of the City’s best-known fund Managers is sitting on a $24 million paper loss on his holding in an American drugs developer dogged by allegations of financial impropriety.

Another ones bites the dust amid fallout of Alliance Trust revolt: The chairwoman of Alliance Trust resigned amid one the most colourful shareholder rebellions of recent years. Karin Forseke said that she would leave the investment trust on January 1, her resignation coming less than two months after the demotion of Katherine Garrett-Cox as Chief Executive.

Berkeley ready to offer a cheaper nuclear option: An AIM-quoted miner will set out its stall as the lowest-cost producer of uranium needed to feed the world’s growing number of nuclear reactors.

Forgery claims over emails about secret Guinea mining deal: A mining company backed by the Israeli diamond tycoon Beny Steinmetz has circulated apparently forged emails relating to a furore over the world’s largest untapped deposit of iron ore.

The Independent

Robots ‘will create U.K. jobs, not destroy them’: Investing in robots would create more, not fewer, jobs for the U.K.’s embattled manufacturing industry, according to research from Barclays.

Banks braced for verdict on tougher stress tests tonight: Britain’s banks will tonight learn whether they have passed tough Bank of England stress tests, after the collapsed bank HBOS was told it had “less than” a 1 in 100,000 chance of failing those imposed by the then regulator just three years before its near-collapse.

Climate change: Banks face threat from global warming, report says: The risks posed to banks’ solvency would remain high even if a robust deal was reached at the UN climate change summit in Paris over the next fortnight, said Joss Garman, a co-author of the IPPR think-tank report.

Pay inequality: Salary gap between average wages and those of top Executives ‘widening each year’: The gap between average wages and the pay Britain’s top company Executives receive is still widening year by year, despite David Cameron’s mantra that “we’re all in this together.”

Financial Times

Insurers to launch forum to address EM disasters: Insurers and policymakers will launch a new push next week to reduce the impact of natural disasters and climate change in emerging markets.

http://www.ft.com/intl/cms/s/0/8191197c-9684-11e5-95c7-d47aa298f769.html#axzz3swWP4sF9

Azzurri invests record amount in restaurant openings: Azzurri, the Italian restaurant group that owns Ask, Zizzi and Coco di Mama, said it had invested a record amount in opening restaurants over the past year, even as some observers accused the casual-dining market of over-saturation.

http://www.ft.com/intl/cms/s/0/ecf53a4a-94f9-11e5-bd82-c1fb87bef7af.html#axzz3swWP4sF9

Virgin Media criticizes government broadband payments to BT: Virgin Media has criticized the government’s £1.6 billion national broadband scheme for giving “hundreds of millions of pounds of excess returns” to BT from the taxpayer.

http://www.ft.com/intl/cms/s/0/3b71d3c0-9501-11e5-8389-7c9ccf83dceb.html#axzz3swWP4sF9

Drax Chief warns on British electricity supplies: The Chief Executive of Britain’s biggest power station operator has warned on the eve of the Paris climate conference that U.K. electricity supplies are tight and that more flexible power generation is needed.

http://www.ft.com/intl/cms/s/0/60eb2ac4-96f6-11e5-95c7-d47aa298f769.html#axzz3swWP4sF9

Deutsche Borse to encourage hidden trades: Deutsche Borse is to follow in the footsteps of the London Stock Exchange Group by encouraging investors to trade large blocks of shares hidden from public view without breaching new rules on controversial “dark pools”.

http://www.ft.com/intl/cms/s/0/d1eed0b0-9500-11e5-ac15-0f7f7945adba.html#axzz3swWP4sF9

U.S. retailers roll out new discounts for Cyber Monday: Big U.S. retailers were on Sunday rolling out a new round of discounts ahead of the official start of Cyber Monday, one of the biggest shopping days on the U.S. calendar, in the hope of adding to Black Friday’s sales bonanza.

http://www.ft.com/intl/cms/s/0/d2f6a1b0-96c0-11e5-9228-87e603d47bdc.html#axzz3swWP4sF9

New stations to plug HS2 in to U.K. rail network in the North and Midlands: High-speed rail is to be plugged in to the existing railway network across the North and Midlands under plans to build two big “hub” stations at Leeds and Crewe to be announced on Monday.

http://www.ft.com/intl/cms/s/0/eb537774-94f9-11e5-b190-291e94b77c8f.html#axzz3swWP4sF9

Lex:

Myanmar: Ho Chi Minting it: In early December, Myanmar’s stock market is due to open for business. Excitement is understandable. After nearly two decades of sanctions, a country that was once among the richest in Asia is gradually rejoining the global economy. This month, it held its first free elections in decades. Last year, the country’s gross domestic product was $64 billion, according to the World Bank, and is expected to grow at more than 8% this year and next.

http://www.ft.com/intl/cms/s/3/79b4d0a6-96d2-11e5-95c7-d47aa298f769.html#axzz3swWP4sF9

The Daily Telegraph

British technology company to ‘transform’ air and space travel with pioneering new engine design: Reaction Engines says its invention will allow airliners to fly at five times the speed of sound. For a small technology company trying to revolutionise low-cost commercial space travel, the sale of a minority stake to aerospace giant BAE Systems could turn out to be the defining moment in its quest.

Boost for U.K. car manufacturing as Nissan ramps up in Sunderland: Nissan will begin making its luxury Infiniti cars in Sunderland this week as part of a £250 million investment in the factory, a landmark move that heralds a massive triumph for British industry.

IMF to make Chinese yuan reserve currency in historic move: The International Monetary Fund is to give the yuan a historic vote of confidence on Monday when it includes the Chinese currency in its elite club of major currencies.

New CBI Chief: cut taxes and boost immigration to grow economy: Britain’s mid-sized firms need low, stable taxes and good access to skilled foreign workers if they are to grow fast and boost the economy, Carolyn Fairbairn will say in her first keynote speech at the CBI.

Data-driven medicine: Sophia Genetics becomes largest clinical genomics network: Cambridge-based genetic testing company Sophia Genetics has become the world’s largest network for molecular diagnostics. The startup announced that it is working with 100 hospitals across 18 European countries, and will diagnose 80,000 patients in 2016.

Adviser rankings put small-scale Finncap above JP Morgan: It doesn’t even crack the top 20 when it comes to the total market value of its client base, but small-cap specialist Finncap has become the most prolific financial adviser in the City, overtaking the U.S. investment banking giant JP Morgan Cazenove.

Scottish bank notes get first female signature: Scottish bank notes will be signed by a woman for the first time ever, as the Clydesdale Bank’s Chief operating officer Debbie Crosbie puts her name to the £20 notes.

The Guardian

Britain’s biggest lenders await Bank of England’s verdict on health checks: Britain’s biggest lenders are braced for a decision by the Bank of England on whether they are strong enough to withstand turmoil in global markets, as Threadneedle Street considers restrictions on their activities to slow down the growth in consumer lending.

Chinese yuan likely to be added to IMF special basket of currencies: China’s efforts to make the yuan an international currency on a par with the U.S. dollar is to receive a fillip with the International Monetary Fund widely expected to add it to a special basket of global currencies.

Bank policymaker ‘relaxed’ about waiting to raise interest rates: A Bank of England policymaker has said U.K. economic growth must stabilise or pick up before he will be persuaded of the need to raise interest rates.

Rising London property costs could lead to firms relocating, says study: Rising property costs in central London could lead to a wave of businesses relocating outside the capital, research has claimed.

Daily Mail

Shell’s £55 billion mega-merger with BG expected to get green light from Australian and Chinese regulators by early next year: Shell’s £55 billion mega-merger with BG is expected to get a green light from Australian and Chinese regulators by early next year.

Brewing giant AB InBev to placate regulators over £177 billion merger with SABMiller by putting Peroni and Grolsch brands up for sale: Brewing giant AB InBev will try to placate European regulators over its £177 billion merger with SABMiller by putting the Peroni and Grolsch brands up for sale.

Chinese buyers running rule over FTSE 100 hotels group IHG, according to weekend reports: Chinese buyers are running a rule over FTSE 100 hotels group IHG, according to weekend reports.

Slew of profits warnings from retailers anticipated in wake of massive discounting on Black Friday: Experts are predicting a slew of profits warnings from retailers in the wake of massive discounting on Black Friday.

Daily Express

Chancellor stamps down on buy-to-let landlords: Buy-to-Let has been the liveliest investment of the last 20 years but last week Chancellor George Osborne effectively signed its death warrant.

Opec set to stand firm on oil price: The oil price stand-off is set to rage on after Opec’s forthcoming meeting on Friday, when lead member Saudi Arabia is expected to maintain the group’s high production target despite its detrimental effect on revenues.

Businesses fear apprentice levy will hit growth: The Apprenticeship levy could hinder business growth and deter companies from hiring new staff, industry figures have warned.

The Scottish Herald

North Sea firms told: £1 billion cost savings achievable with better technology: North Sea oil and gas firms could increase their total profits by £1 billion a year amid the crude price plunge simply by getting better at detecting problems such as leaks from insulated piping, industry leaders have claimed.

Photo booth firm LookLook forecasting leap in turnover: A company which provides photo booths and picture sharing apps to special events and consumer brands is forecasting a 50% rise in turnover.

Construction firm capitalises on growth push at whisky distillery: Construction firm ISG has won a contact to complete the first phase of a multi-million pound expansion of the whisky maturation facilities at the Bruichladdich Distillery on the Isle of Islay. The work will include building the first of six new bonded warehouses the French-owned whisky firm plans to add at the distillery and preparatory ground work for the other five.

Aberdeen not for sale and still on front foot: Aberdeen Asset Management is not for sale and Founder Martin Gilbert has no intentions to step back or sell out, the company has said.

The Scotsman

CBI Boss Fairbairn highlights £59 billion scale-ups impact: Business body the CBI will highlight the critical impact that “scale-up” businesses operating in a number of areas, including Dundee’s games sector, can have on the U.K. economy.

Scots firms encouraged to take aim at stock market: Informatics Ventures has teamed up with TalentSpark and the London Stock Exchange (LSE) for a summit to encourage more Scottish businesses to consider a market flotation.

Forestry now a billion-pound industry – new report: Forestry and wood is now a billion-pound industry in Scotland and the number of jobs in the sector has almost doubled in less than a decade, a new report has revealed.

Barratt gives economy £250 million boost, says study: Housebuilder Barratt Developments’ Scottish operations have contributed more than £250 million to the economy during the past year and supported some 550 subcontractor companies and 650 supplier businesses, according to a new study.

City A.M.

Regulatory fines rocket to £2.45 billion as watchdogs use new powers to ramp up punishment: Regulators are flexing their muscles and ramping up punishments for financial misconduct, with fines handed out to companies guilty of wrongdoing rising 271% over the past two years to hit £2.45 billion.

U.K. care homes at risk of financial ruin as living wage costs bite: Hundreds of British care homes are facing financial ruin as a result of the Living Wage, with the sector expected to come up against a £500 million funding gap next year.

Transport for London sets up new team to help to tackle growing traffic congestion: Transport for London (TfL) has created new team to help tackle growing traffic congestion in the capital, it announced. The new 40-strong team – that will rise to 80 by next spring – will help to deal with problems such as illegal stopping or unloading of deliveries, which can cause delays to drivers and bus passengers.

Peer-to-peer lender LendInvest on track to back £1 billion of new properties by 2016: Peer-to-peer (P2P) property lending and investment firm LendInvest said it has doubled the number of properties it has supplied finance to over the last year, as developers scramble to keep up with demand for more homes.

HS2 route from Birmingham to Crewe to open six years early: THE HIGH speed rail link connecting Crewe to Birmingham will open six years ahead of schedule in 2027.

New initiative rakes in £300 million from stamp duty avoidance clampdown: HMRC has raked in over £300 million in one year through clamping down on stamp duty land tax (SDLT), according to new research released this morning.

Mario Draghi to boost Eurozone asset purchases: The Eurozone is geared up to receive a policy boost this week, with the majority of analysts expecting the European Central Bank (ECB) to ramp up its €1.1 trillion (£780 billion) asset purchase programme this Thursday.

Funding Circle’s SME Income listed fund set to join the London Stock Exchange after £150 million flotation: Funding Circle’s SME Income fund is due to join the London Stock Exchange. It is the first such fund to have been launched by a crowd-funding platform.

Number of accountancy firms falls as merger activity in the sector heats back up after it tapered off in 2010: The number of accountancy practices in the U.K. fell last year as merger activity across the sector rose once again.

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