Good morning New York,
FT ALPHAVILLE
Cardiff, noting the attention given to the circumstances of poverty on decison making this year, looks at a related issue: how the nature of the choices facing the poor are different for those of the rich.
David considers the options available to the ECB, which has appeared to float the idea of a funding for lending programme.
While Dan shares some unexpected video of former Secretary of State Madeleine Albright shaking her red shoes and shilling for Herbalife.
NEWS
German Chancellor Angela Merkel's conservative alliance has struck a deal to form a coalition government with its arch-rival, the centre-left SPD, after weeks of negotiations culminating in an all-night session. However, before forming a government the accord must be approved by a December referendum of SDP members (Financial Times).
Compass is to return £500m to investors as the world's biggest catering company by revenues launches its third buyback in two years, for a total of £1.4bn. The group however reported a 9 per cent drop in full year pre-tax profits to £721m (Financial Times).
The recently listed Royal Mail said first half profits were higher, if several exceptional items are ignored, and cautioned that it was winning fewer new business customers, while some had switched to competitors fearing strike action (Wall Street Journal, Financial Times).
Israel and the European Union resolved a four-month diplomatic dispute over new EU rules that prohibit public funds from going to Israeli entities located in territories claimed by the Palestinians. The deal is expected to boost financing for research and development (Wall Street Journal).
The Federal Reserve pressed JPMorgan to distance itself from its metals warehousing business more than a year ago, documents seen by Reuters show, long before the issue became a focal point in the debate over Wall Street's role in physical commodities trading (Reuters).
