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In the papers: UK banks to pocket £1bn from Visa sale

Published: 01:40 03 Nov 2015 EST

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The Times

Cameron backs down over plan to bomb Syria: David Cameron has abandoned plans to push for British air strikes against Islamic State in Syria after being foiled by the opposition of Labour MPs for the second time in two years, The Times has learnt.

UK banks to pocket £1bn from Visa sale: British banks are set to pocket well over a billion pounds in cash after the UK-based Visa Europe agreed to be taken over by its American sister organisation Visa Inc for up to €21.2 billion.

‘Profits put before grieving parents’: Thomas Cook was more concerned with profits than looking after the family of two children who died on holiday in Corfu, according to a damning report.

Stepping up the pace pays off as Fitbit beats expectations: Fitbit smashed through revenue and earnings expectations in its third quarter, helped by strong demand from markets outside the Americas.

The Daily Telegraph

George Osborne: Britain could vote to leave EU unless it is given protections from 'ever-closer union': George Osborne, the Chancellor, flies to Germany and says that the European Union must not 'damage' British interests.

Porsche dragged into emissions cheat crisis: Environmental Protection Agency says 3.0 engine shared with VW and Audi also had so-called "defeat device" from 2014 onwards.

The Earth is not running out of oil and gas, BP says: Global reserves could almost double by 2005 despite booming consumption, oil major says.

Greek banks will have to tap bondholders for bail-in cash, Moody's warns: Investors in Greek banks' debt are likely to see their investments converted into shares, as the bonds are raided to recapitalise the stricken lenders.

Shire to acquire US rare drugs maker Dyax for US$6bn: The Anglo-Irish pharmaceuticals giant says it still has the firepower to pursue other acquisitions, including Baxalta.

The Guardian

Amnesty report accuses Shell of failing to clean up Niger delta oil spills: After examining four oil polluted sites in the Niger delta, the human rights group says they remain ‘visibly contaminated’, though Shell says it has cleaned them.

UK’s biggest care home operator risks running out of cash, says S&P: Ratings agency says Four Seasons Health Care faces cash crunch in next six months without radical restructuring of finances.

Fresh signs of slowdown will force interest rates rise to be put on hold: Bank of England unlikely to produce any fireworks with multiple reports on 5 November as clutch of surveys highlight uncertain outlook for UK businesses.

The Independent

Alstom sells energy business to GE for US$13.6b: The European Commission had raised fears that the deal would damage competition in the market for turbines.

Alarm over Government’s growth mandate for nuclear regulator: Last year, non-economic regulators were handed guidance entitled “Duty to have regard to growth” by the Department for Business, Innovation & Skills.

HMV, Game and Argos are stealing video game sales from Amazon: Amazon’s strong grip on the industry slipped by 1.2 percentage points to 20.4  per cent.

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