GUARDIAN
ANGELA MERKEL HAILS GERMAN COURT'S RULING ON EUROZONE RESCUE FUND
By Kate Connolly in Berlin
Angela Merkel said Germany's highest court had sent a powerful message to the rest of Europe and beyond, after it paved the way for the creation of a €500bn rescue fund to tackle the eurozone's debt crisis. Markets rallied following the decision to ratify a treaty to establish the European stability mechanism (ESM). The euro reached a four-month high. The ruling was considered one of the most important in the court's 61-year history.
FINANCIAL TIMES
EADS AND BAE IN DEFENCE TIE-UP TALKS
By Carola Hoyos and Anousha Sakoui in London, James Boxell in Paris and Gerrit Wiesmann in Berlin
EADS and BAE Systems, Europe’s largest aerospace company and biggest defence contractor, are discussing a €38bn tie-up that would create a European rival to Boeing and reshape the global defence industry. EADS would control 60 per cent of the enlarged group. European governments have talked for more than a decade about consolidating their national champions to create a pan-continental competitor to Boeing.
DAILY TELEGRAPH
SHORT-TERMISM HAS BEEN 'HUGELY DAMAGING' FOR BANKS SAYS SIR DAVID WALKER
By Harry Wilson, Banking Correspondent
Sir David Walker, the chairman designate of Barclays, has blamed the way banks pay their staff for the problems of the industry and said he favoured new rules which would give far more detail on how much bankers are paid. Speaking at the first public hearing of a parliamentary commission into banks, Sir David investment bankers focus on short-term targets had been “hugely damaging”.
DAILY TELEGRAPH
DEBT CRISIS: GREECE PREPARES TO LEASE 40 UNINHABITED ISLANDS TO CUT DEBT
Greece has identified 40 uninhabited islands and that could be leased for as long as 50 years to reduce debt. Andreas Taprantzis,executive director for housing at the Hellenic Republic Asset Development Fund, said “Current legislation doesn’t allow us to sell them outright and we don’t want to.”
CITY AM
LABOUR MARKET MANAGES TO DEFY ECONOMIC SLUMP
By Ben Southwood
The labour market continued to recover strongly in the three months to July, despite the double dip recession, the Office for National Statistics revealed yesterday. Employment rose 236,000 in May to July, compared to the February to April period, putting the total at 29.56m, just 11,000 below its all-time peak in early 2008.
THE SUN
WHISPER IT QUIETLY – THERE ARE GREEN SHHHOOTS FOR ECONOMIC RECOVERY
By Steve Hawkes, Business Editor
Greece is on the brink and Spain is running out of cash, but whisper it quietly – there is a glimmer of hope for the UK economy. Official job figures yesterday showed employment rocketed up by 236,000 in the three months to July. Almost a third of the new jobs came in London, but jobs were also created in the North East and South West.
DAILY MAIL
MILLIONS OF PEOPLE AT RISK OF 'TRANSPORT POVERTY' AS COST OF OWNING A CAR RISES
The rising cost of owning a car and the lack of transport alternatives could push millions of people into debt, a charity has claimed. More than one and a half million people in England are at ‘high risk’ of suffering from ‘transport poverty’ as they risk to be cut off from accessing healthcare and getting to work because it is too expensive to travel, according to the latest report by cycling charity Sustrans.
DAILY EXPRESS
BARRATT DEMANDS BIG LENDING BOOST
By Philip Waller
Lower land prices and bigger homes helped boost profits at Barratt Developments, but the housebuilder demanded government action to kick-start lending.
Barratt, which owns the Barratt Homes and David Wilson Homes brands, completed more homes on cheaper land bought after the financial crisis in the year to June.
WWW.BBC.CO.UK
BAE SYSTEMS AND EADS IN TALKS OVER MERGER
UK defence contractor BAE Systems has said that it is in talks with European aerospace firm EADS over a possible merger. "Both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges," BAE said in a statement.
NEWS.SKY.COM
AMAZON SETS UP IN LONDON'S TECH CITY
By Darren McCaffrey, Sky News Reporter
The multi-billion dollar company joins a growing number of technology firms moving to London. US web giant Amazon is opening a new research centre in East London's Tech City - Britain's answer to Silicon Valley. The digital media development centre will employ hundreds of people and focus on ways to transform how we watch TV.
WWW.BLOOMBERG.COM
COWDERY’S SECOND COMING AS TOP U.K. INSURANCE DEALMAKER FALTERS
By Kevin Crowley
Clive Cowdery has left investors with losses of 30 percent after failing to repeat the success of the strategy that won him a reputation as London’s top insurance dealmaker. He and his team still profited from management fees. Resolution has missed its targeted returns to shareholders, wound down its plan to buy ailing life insurers and intends to dissolve a management structure that allows its founders to earn private-equity style fees following pressure from the Financial Services .
….. AND FINALLY …..
DAILY TELEGRAPH
GUINNESS WORLD RECORDS 2013
The Guinness Book of Records holds the world record as the best-selling copyright book. The new edition is out today.
The world's largest biceps belong to Mostafa Ismail from Egypt and were measured for left arm flexed at 64.77 cm (25.5 in) and non-flexed 62.23 cm (24.5 in), The 57th edition of the world's best-selling copyright book, Guinness World Records, is out today
