Tuesday Papers: Bank Fashion falls into administration

Tuesday Papers: Bank Fashion falls into administration

And US crude oil dropped below $50 a barrel for the first time in five and a half years, sending energy stocks into a tailspin.

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Daily Mail: Loss-making clothing chain Bank Fashion has collapsed into administration just two months after being bought by private equity firm Hilco, putting 1,555 jobs at risk at 84 stores.

Financial Times: Lloyds Banking Group is seeking an exemption to one of the key measures of the UK’s new ringfencing regime, as the country’s big banks take radically different approaches to rules aimed at protecting taxpayers from future financial crises.

Financial Times: US crude oil dropped below $50 a barrel for the first time in five and a half years, sending energy stocks into a tailspin and fuelling a broader sell-off on Wall Street that spilled into Asia as fears grew of a global economic slowdown.

Daily Mail: The euro crashed to a nine-year low against a rampant dollar yesterday and the oil price and shares tanked as panic gripped financial markets around the world; the single currency fell as low as $1.1860 while sterling slipped to a 17-month low of $1.5202 against the mighty greenback.

The Guardian: JP Morgan Chase & Co has become the first bank to settle a US antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market.

Financial Times: BMW has agreed to pay $820 million in China dealer rebates for 2014, a person involved in the negotiations said on Monday.

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The Independent: Rangers Football Club has confirmed it has received a bid approach from the US businessman Robert Sarver, the owner of the Phoenix Suns basketball franchise.

Daily Mail (Small Cap Share Ideas): Data analysis firm Ebiquity looks good value as it grows under the radar of City investors.

Daily Mail (Top Performing Shares of 2014): The best performing share on FTSE 100 was Dixons Carphone, with a return of 70%; Allied Minds saw its share price grow 93% on FTSE 250; Skyepharma jumped 234% in 2014 on FTSE All-Share; the best performing stock on FTSE AIM All-Share was investment company called Concha, with a return of 2400% last year.

The Daily Telegraph: Verizon ‘approaches AOL about takeover or joint-venture’; the US broadband and telecommunications giant wants to use AOL to expand its mobile video business.

Financial Times: Vivendi’s Universal Music Group and advertising group Havas have joined forces in the hope of boosting revenue from artists via data mining at a time of falling record and digital sales.

Financial Times: UK-based health group Bupa plans to raise its stake in its joint venture with Indian insurer Max India to 49%.

Daily Mail (Comment): Old Lady’s display of virtue comes as crucial documents released.

The Guardian (Comment): The deficit debate is a trap. To create a fairer Britain, Labour needs to learn to love spending again.

The Guardian (Editorial): Euro remains in a debt crisis. In deflationary times, this will require a novel solution: honesty.

The Independent (Comment): John Lewis may not be alone in suffering a Black Friday hangover, and there are many who will feel a certain Schadenfreude at that.

The Independent (Comment): Ryanair’s turnaround was simple: be nice and make O’Leary shut up.

Financial Times (Lex): Oil and gas capex: patience and virtue.

Financial Times (Lex): KazMunaiGas: how does a $7 billion takeover offer disappear unnoticed?

Financial Times (Lex): Executives should be paid more in readies, and less in shares.

Financial Times (Lex): Greek stocks: be careful what you eat in the euro underworld.

Financial Times (Lex): Macau gaming: recent data confirm bearishness signposted by stocks.

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