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Newspaper summary, including "UBS ready to admit Libor rigging in settlement"- The Times

The Times 

Bet of the Day: Spread-betters were selling Sportingbets share price in advance of the deadline for William Hill to make a formal offer for the online gambling group. That deadline has been extended twice, with Hill having suggested three different prices. 

Deal of the day: Aurum Mining improved by 8.3% to 31/4p on applause for its latest drilling results from Spain, where the AIM company is prospecting for gold. Tests of the latest samples from its Cabeza de Caballo permit in the province of Salamanca showed gold mineralisation over two wide zones of high grade, chiming with the results of previous analyses, Aurum said. 

Gilts: U.K. Government bonds tracked German bunds lower in light trading as investors awaited the outcome of important U.S. budget talks. The March gilt future made a cautious start to a busy week for domestic economic data, settling 14 ticks lower at 118.28. In the cash market, the yield on ten-year gilts edged two basis points higher to 1.88%. 

UBS ready to admit Libor rigging in settlement: More than 30 traders at UBS are set to be implicated this week in the rigging of benchmark interest rates as part of a $1.5 billion settlement, it was claimed. UBS is expected to admit that staff were involved in manipulating yen Libor between 2005 and 2010 as it becomes the latest big bank to agree a deal with financial regulators, according to reports. 

Transformative deal costs Imagination Technologies dear: The bidding war for MIPS, the Silicon Valley chip developer, is over after Britains Imagination Technologies landed a decisive blow with a $100 million bid. 

Centamin gold shines as exports resume: The Egyptian Government has finally given the go-ahead for Centamin to resume exports, staving off a potential cash crisis. The news prompted a relief rally in the goldminers shares, which rose by 7p to 42p. 

RBS pays 10 million to absent-minded customers: Royal Bank of Scotland and its NatWest offshoot is paying out 10 million in refunds to 300,000 customers whose money it pocketed when they forgot to take their cash after making withdrawals. 

Amlin take slice of the Cheesegrater: The Lloyds of London insurer Amlin has become the second major corporation to agree a letting deal at Leadenhall Building, or the Cheesegrater. 

The great BP sell-off races ahead with gasfield deal in North Sea: BPs latest disposal has put it within reach of its target of raising $38 billion a year early. The British oil company will bank $228 million (141 million) after announcing the sale of its 50% stake in the Sean gasfield in the North Sea to SSE. The sale will take BPs proceeds from its asset disposals to more than $37.2 billion.Arch Cru advisers ordered to pay up over lost millions: Independent financial advisers who mis-sold CF Arch Cru funds will be forced to compensate investors after an historic ruling by the City regulator. Wielding new powers for the first time, the Financial Services Authority decided to press ahead despite strong opposition from independent financial adviser firms, their trade bodies, investors and MPs. 

The Independent 

Poor have suffered bigger hit to incomes than rich, says Bank survey: The poor have seen their incomes squeezed more than the rich over the past year and households are reining in spending as they grapple with uncomfortably large debt burdens, a new survey commissioned by the Bank of England reveals. 

Greece's lenders warn of 'very large' risks to bailout: There are very large risks to the recently negotiated Greek bailout package, according to a long-awaited report from the European Commission and European Central Bank. 

Bupa in 244 million dental deal in Australia: The private healthcare group Bupa has agreed to take over Australia and New Zealand's largest dentistry chain for 244 million. 

Instagram 'called off deal with Twitter before Facebook sale': Instagram, the photo-sharing website and app, could have been owned by Twitter rather than Facebook

Norilsk aims to settle boardroom war with new set-up: Norilsk Nickel named its long-time co-Owner Vladimir Potanin as its Chief Executive under a Kremlin-inspired deal to end a boardroom war at the world's top nickel and palladium producer. 

H&M's sales fillip gives a lift to high street: H&M posted some encouraging news for the high street, with the Swedish fashion giant revealing trading last month had not been as bad as feared. 

Dods buys political publishers from Ashcroft: Two businesses majority-owned by Lord Ashcroft have been snapped up by Dods, the political publisher in which the Conservative peer is also a major shareholder. 

The Guardian 

Google close to deal with U.S. regulators over patents dispute: Google is this week expected to escape the biggest anti-trust investigation for more than a decade by agreeing with U.S. regulators to tweak the way it displays searches. 

5 billion illegally taken out of Zambia over past decade, says report: More than 5 billion has been illegally siphoned out of Zambia over 10 years, with most of it ending it up in offshore banks and tax havens, according to a report by financial transparency campaigners. 

Wonga launches buy now, PayLater loans: Controversial payday loans firm Wonga is taking on the credit card industry with a product that allows shoppers to pay for goods with a three-month loan. 

Daily Mail 

Santander to absorb two Spanish banks and close 700 branches: Banvo Santander is to absorb two Spanish banks, closing 700 branches. The move means Banesto, one of the oldest bank brands in Spain, will disappear from the high street, underlining huge problems in the Eurozones fourth biggest economy. 

Second profits warning in three months batters Aggreko shares: Aggreko saw 1.2billion wiped from its value on Monday in the biggest one-day share fall in the firms history. 

National Grid accuses Ofgem over energy network cost: A row has erupted between Ofgem and the National Grid over the investment needed to overhaul the U.K.s energy networks. 

Major shake-up on way at Grosvenor in a bid to cut spiralling costs: Grosvenor, the Duke of Westminsters multi-billion pound property empire, is planning a major reorganisation of its fund management arm to cut spiralling costs. The private group, which owns swathes of upmarket London real estate, is expected to cut jobs and restructure Grosvenor Fund Management, which looks after 5billion of clients money. 

The Scottish Herald 

Dana gets green light for 1 billion development: Korean-owned Dana Petroleum has been given the green light for a $1.6 billion (1 billion) plan to develop two big oil and gas fields in the North Sea, underlining the appeal of the area to investors. 

Translation agency to open Manchester hub new office: Translation business Lingo24 is setting up a new office in Manchester to build software for translating documents. 

Aggreko shares drop after profits warning: More than 1.2 billion was wiped off the market value of Glasgow-based temporary power company Aggreko as its shares plunged by one-fifth following a warning that it expects profits to fall next year. 

Lawyers' firm Bond Pearce to expand in Aberdeen: Law firm Bond Pearce has signalled its Scottish expansion plans by hiring four partners from rival Maclay Murray & Spens (MMS). 

Bupa buys dental group: Healthcare group Bupa is to acquire Dental Corporation, Australia and New Zealand's largest dental group, comprising 190 clinics and more than 560 dentists. 

Norbert Dentressangle unveils new Eurocentral site for luxury packing: Logistics and freight firm Norbert Dentressangle has invested an undisclosed sum in a clean room for white glove-packing activities for luxury items in Scotland. 

Three invests 3 million in ultrafast network: Mobile Phone Company Three has spent more than 3 million upgrading phone masts and wires across Glasgow to launch its new ultrafast network. 

China approves Omega's Food Detective tests: Alva-based medical testing company Omega Diagnostics has secured approval for use of its food intolerance product Food Detective in China as it seeks to target the country's expanding middle class. 

The Scotsman 

Fashioning growth but H&M trails bigger rival Inditex: Revenue at the worlds second-largest fashion retailer, Hennes & Mauritz (H&M), rose by 10% this year, lagging forecast growth at larger rival Inditex, which is less exposed to the downturn in Europe. 

Closing courts will add to pressure on troubled Scottish town centres: Plans to close 11 sheriff courts throughout Scotland have been criticised for failing to take account of their impact on local traders, with business leaders warning that the move is at odds with Scottish Government plans to regenerate town centres. 

Ex-Olympics HR chief takes over seat from Anna Ford on Sainsburys board: Jean Tomlin, who oversaw the recruitment of 70,000 volunteers for the London Olympics, is to join Sainsburys as a Non-Executive Director next month, replacing former newsreader Anna Ford. 

AAM boardroom pay-out tops 13 million for second year running: Executive Directors at Aberdeen Asset Management, Scotlands best-paid plc board, have shared a 13 million-plus salary and bonus pay-out for the second year running. 

Last 49 Comet stores close: Comets last remaining stores trade for the final time, as the high street spending slump claims another high-profile


City A.M. 

Jefferies finishes 2012 on a high, but it is tough out there: Theres been anything but a gradual winding down towards the Christmas break for many of those who ply their trade at the London offices of Jefferies. 

Banks challengers weigh in over Haldane warnings: Bosses of start-ups aiming to challenge the banking industry sided with senior Bank of England Director Andrew Haldane, following his comments that innovative new finance firms are a challenge to major banks dominance. 

HMRC slammed for call handling: HMRC cost its customers 136 million by keeping them dangling on the phone, a damning National Audit Office (NAO) report reveals. 

Deutsche Bank appoints Sir Richard Lambert as an adviser: Deutsche Bank has hired former Bank of England policy maker Sir Richard Lambert as a senior independent adviser, as the firm grapples with the effects of the sovereign debt crisis and a raft of new banking rules. 

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