Monday newspaper round-up: Hiring optimism, coal collapse, Apple fight
Two out of five British companies plan to recruit more staff next year, despite the uncertainty created by the vote to leave the European Union. The “renewed optimism” among businesses is a marked change from March, when the CBI, the UK’s biggest business lobby group, said that the economy could lose 950,000 jobs by 2020 as a result of Brexit. - The Times
The Chinese government triggered a surprise boom in coal prices this year, delivering a surprise windfall to hard-up miners – now experts are warning that the reversal of the policy will lead to a drop in prices that is just as sharp. This year Beijing decreed that coalmines could operate only 276 days a year rather than 330 and the result was a spectacular rebound in prices, especially for coal used in steel-making, as the world’s biggest consumer turned to overseas markets. - The Times
The world’s oldest bank has made a last-ditch attempt to convince tens of thousands of ordinary Italian savers to help it escape state hands. Monte dei Paschi, Italy’s third biggest bank, wants 40,000 retail investors to take part in a complex €5bn (£4.18bn) bailout, which was almost derailed by the country’s recent constitutional referendum. - Telegraph
Apple is set for a fight with the European Commission over a ruling that it must pay the Republic of Ireland more than €13 billion in tax, describing parts of the judgment as having “no basis in law”. In submitting its formal appeal today against a ruling issued in August, which claimed that Apple had shifted tens of billions of dollars in profit into “stateless” affiliates based in Ireland, where it received unfair tax breaks, the iPhone maker claims that the commission has misinterpreted both Irish and international law. - The Times
The UK’s 10 biggest house builders are sitting on 14 years’ worth of land, on which almost one million homes could potentially be built, Shelter has claimed. Research carried out by the housing charity found that the listed firms control 404,000 plots through their current land banks, and a further 558,000 plots in so-called “strategic land banks”. - Telegraph
Talks aimed at averting strikes by British Airways cabin crew over Christmas will be held on Monday. Unite union members based at Heathrow are due to walk out on Christmas Day and Boxing Day in a dispute over pay. - Guardian
Lawmakers from around the world have written to financial regulators and stock exchanges calling for stronger disclosure of financial risks related to climate change. Many assets related to a carbon-intensive economy may now be mis-priced after the ratification last month of the Paris agreement on climate change, 145 parliamentarians from 34 countries say in a letter published today in The Times. - The Times
More action may be needed to protect the financial services industry from a devastating cyber-attack, the head of the Treasure select committee has suggested. Andrew Tyrie MP wrote to Ciaran Martin, head of the new cybersecurity centre of UK surveillance agency GCHQ, saying the lines of responsibility and accountability for reducing cyber-threats are opaque. - Guardian
Labour’s industrial spokesperson has called for the algorithms used by technology firms to be made transparent and subject to regulation, as the party prepares the new year launch of its industrial strategy consultation. Shadow minister Chi Onwurah wants to see greater scrutiny of the mathematical formulas that now control everything from the tailored news served to Facebook members to the speed at which workers are required to move around an Amazon warehouse. - Guardian
A housing association is teaming up with a Chinese-state owned company to build 25,000 pre-fabricated homes over the next five years. As part of the £2.5 billion deal, which has the support of the government, the China National Building Material Company will build six factories in Britain, creating 1,000 new jobs. - The Times