Friday Papers: Retail sales growth slows in UK - other news

Financial Times

* Debenhams, the department store owner, confirms that it intends to reinstate its dividend after pre-tax profits rose 16% to £140 million.

* The CBI employers’ group is urging ministers to hold their nerve and stick to their planned £81 billion spending cuts through a ‘bumpy’ spell early next year in which growth could slow to a standstill.

* Thousands of businesses will be subjected to a new £1 billion-a-year carbon tax, in a change hidden in the fine print of the UK comprehensive spending review.

* Retail sales growth in the UK has slowed in the last couple of months; sales volumes were flat in September after falling by 0.6% in August, ONS said.

* LCH.Clearnet follows transatlantic rival CME group in plans to launch clearing of untapped section of interest rate swaps markets.

* Environmental authorities in India rule that Vedanta undertook a huge expansion of its Lanjigarh alumina refinery without obtaining clearance.

* Paul Bowtell, chief financial officer, is to step down after an accounting blunder was uncovered at the travel company, forcing it to restate its results to the tune of £117 million.

* The loss of the blockbuster diabetes drug Avandia and reforms to US and European healthcare programmes prompted a 2% decline in third-quarter turnover at GlaxoSmithKline.

* Banking, investments, pensions and property services are among the most difficult and frustrating markets for people to deal with, an EU ‘consumer scoreboard’ survey shows.

* President Viktor Yanukovich says he and Lakshmi Mittal, ArcelorMittal’s chief executive, would look for a solution to solve the steelmaker’s investment commitments.

* McDonald’s reported a 6% improvement in same-store sales for the third quarter of 2010, in spite of rising food costs and sluggish economic conditions.