Friday newspaper round-up: BHP Billiton, Massive immigration, State pensions

BHP Billiton has announced a multi-billion-dollar writedown of its US assets as the commodities giant struggles with plummeting prices. The company could be forced to halve its dividend to weather the storm in the commodities sector, blamed “significant volatility and much weaker prices” in the oil and gas industry. - The Daily Telegraph

Social and political disintegration as a result of massive migration is the world’s most immediate threat, the World Economic Forum has warned in its annual global risks outlook. The world is a riskier place than last year, the WEF said, as the refugee crisis and terrorist attacks have made the global political environment more unstable than at any time since the Cold War. - The Times

Most people now in their teens, 20s and 30s will be worse off as a result of changes to the state pension system, while millions of older people will gain, according to the government’s own figures. The data will fuel concern that millions of younger people are suffering from the effects of what has been dubbed “intergenerational unfairness”, partly caused by the government targeting money and resources at the older generation. - The Guardian

BT's takeover of EE, Britain's biggest mobile operator, should be cleared by the competition watchdog on Friday amid fears a telecoms giant would stifle the market and increase customers' bills. The landmark deal would create a communications behemoth that will provide mobile, fixed-line phones, broadband and TV to around 35m customers. - The Daily Telegraph

Millions of extra barrels of Iranian crude oil could begin spilling on to world markets next week, adding further to fierce downward pressure on prices, experts have warned. With the United Nations, which completed inspections at an Iranian nuclear site yesterday, expected to approve the removal of trade sanctions as early as Monday, Iran has pledged to begin pumping up to half a million barrels of extra crude per day within one week.- The Times

Greece has backed down over having the International Monetary Fund involved its new bail-out deal, after months of tension between Athens and its senior creditor. Greek finance minister Euclid Tsakalotos said his government was now committed to keeping the IMF on board, after his prime minister had attacked the institution for its "unconstructive" attitude during bail-out negotiations. - The Daily Telegraph