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In the papers: Shire's US$5bn deal and the woes of Britain's North Sea oilers

Published: 06:52 12 Jan 2015 GMT

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Times                     

Shire has pledged itself to an independent future by striking a US$5.2bn deal to buy NPS Pharmaceuticals, a specialist developer of medicines for rare diseases.

Ford is taking a detour from car-making and entering the car-sharing business pioneered by companies such as Zipcar.

New rules to strengthen the UK takeover code come into effect in the wake of Pfizer’s highly politicised attempt to buy its British competitor AstraZeneca.

Petrol retailers will meet Priti Patel, the Treasury minister, to demand an immediate cut in fuel duty, which is approaching the “eye-watering” levels last seen before the fuel protests of 2000.

A Tesco executive suspended in December over the supermarket’s £263mln accounting scandal has been identified as Chris Robinson, a finance director in the retailer’s food sourcing division.

Independent

North Sea oil and gas explorers predicted that the Chancellor would offer them drastic tax cuts as they consider mass job cuts due to plummeting global prices.

Graduates will this year enjoy the best recruitment prospects for more than a decade and higher starting salaries than their predecessors, according to a new report – but they may be surprised to find a budget supermarket providing the most attractive pay rate.

Thousands of HSBC customers have been receiving welcome post-Christmas gifts: big cheques totalling £350mln as compensation for failing to comply with banking rules.

Daily Telegraph

Quindell, the troubled insurance outsourcer whose controversies have gripped the City, will attempt to restore its reputation by hiring a number of experienced leaders.

Three leading chief executives in the retail industry are under pressure to reveal a positive Christmas performance this week after a troubled 2014.

Biotech group Redx Pharma – which is backed by venture capitalist Jon Moulton – is to float on the junior Aim market in a deal valuing the Liverpool-based business at up to £80mln.

IAG may have to pay as much as €1.6bn for Aer Lingus, one of the Irish airline’s largest institutional shareholders warned this weekend.

British property developer Consero is to build £300mln worth of mansions and apartments in Oman, creating what it claims will be a “little bit of Surrey” in the Middle East.

Guardian

Bank Governor Mark Carney finds out this week if he will be the first Governor since Bank of England independence in 1997 to write an open letter to the Chancellor explaining why inflation is so low.

At least one major oil company will turn its back on fossil fuels, says scientist: The oil price crash coupled with growing concerns about global warming will encourage at least one of the major oil companies to turn its back on fossil fuels in the near future, predicts an award-winning scientist and former industry adviser.

Daily Mail

Luxury goods firm Burberry is likely to announce that underlying third-quarter sales have slowed over the key Christmas trading period.

Goldman Sachs to reveal it paid staff £8.3bn - an average of £250,000 each - but senior bankers will have raked in millions.

Shop Direct Boss warns rivals to expect even bigger Black Friday next year as he unveils plans to sell more than ever.

More than 200 small firms quit within days of new European VAT rules originally aimed at curbing tax dodging by web giants.


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