Saturday Papers: US stocks gain on strong wholesale inventories data - other news

Financial Times

* US stocks edged higher on Friday after a sharp rise in wholesale inventories; the S&P 500 rose 0.5% to 1,109; the Dow Jones Industrial Average also gained 0.5%, at 10,463, while the Nasdaq Composite added 0.3% to 2,232.

* China’s trade surplus dropped in August from $28.7bn in July to $20.03bn as a result of the surging imports.

* Spectre of deflation kills the mood at Jackson Hole.

* HSBC, Barclays and Standard Chartered have given clear signals that they would be willing to move their headquarters overseas if the regulatory onslaught on the UK financial industry intensified.

* Dubai World, the troubled state-owned conglomerate, said on Friday that it has reached agreement with almost all of its remaining creditors on restructuring $25bn of liabilities.

* Tony Hayward, BP’s outgoing chief executive, will replace Andy Inglis on the board of its Russian venture, TNK-BP.

* US president Barack Obama promotes longstanding adviser Austan Goolsbee to the new head of the Council of Economic Advisers.

The Daily Mail

* Bankers have warned that a flotation or sale of the Royal Mail will struggle without "radical and meaningful efforts" to overhaul the regulations that govern the sector.

* BP suffered two more blows yesterday, after it was kicked out of the FTSE's ethical investment index and forced to delay its financial results on account of mounting oil spill costs.

The Guardian