Monday Papers: Low share trades to cost state £1bn - other news

Financial Times

* A slump in UK share trading, where volumes are on track to reach an eight-year low, is set to hit government coffers by more than £1bn this year, according to a study to be published on Monday by Equiniti.

* The Dodd-Frank financial reform bill has opened a 90-day window for banks to buy back $118bn in high-cost securities.

* The search for a successor to Sir David Tweedie, chairman of the International Accounting Standards Board, has hit difficulty in the face of opposition in Europe to how the process has been conducted.

* General Motors will this week begin its return to public share ownership with an expected filing of paperwork for a stock offering.

* Lee Myung-bak, South Korea’s president, proposed an unexpected new tax on Sunday to fund the future cost of unification with North Korea.

* US issues arms deal ultimatum to Turkey; Obama warns PM over Israel and Iran stance.

* British Telecom has received more applications for its apprenticeship scheme this year than Oxford university.

* An epic legal battle between a tax exile and Revenue & Customs is set to reach its climax next year after a Seychelles-based entrepreneur was granted leave to appeal to the Supreme Court.

* An Apple supply manager has been accused of giving confidential information to Asian suppliers in exchange for kickbacks.

* The Depository Trust & Clearing Corporation of the US bolsters its UK presence as part of a European drive.

The Daily Telegraph