Tuesday newspaper round-up: Aberdeen Asset Management, Barclays, BoE

The embattled boss of Aberdeen Asset Management has insisted the emerging market specialist is not up for sale as it continued to haemorrhage money from nervous investors. The investment giant – which runs £283.7bn – has seen almost a third wiped off its value over the past 12 months. This has fuelled speculation that the company is looking for a buyer. But chief executive Martin Gilbert, 60, said he was ‘upset’ by the rumours and insisted he plans to remain at the helm for the next decade, emulating his hero Sir Alex Ferguson, who managed Manchester United until he was 71. – The Daily Mail

Jes Staley begins his first day as chief executive of Barclays with a loss of almost £300,000 on the shares he bought last month to show his commitment to the role. The American banker, who spent much of his career at JP Morgan, paid 233p for each of the 2.8m shares he bought on 4 November and is now facing a 10p loss on each share as they closed on Monday at 223p. He spent £6.4m buying the shares. – The Guardian

The Bank of England set out plans on Tuesday to require banks to hold as much as £10bn extra capital as the credit cycle moves into a more normal phase, but stopped short of immediate action. Alongside its half-yearly Financial Stability Report, the BoE also released the results of annual 'stress tests' into how lenders would deal with unexpected economic shocks. – The Daily Telegraph

Gold is on course for its biggest monthly drop in more than two years after increased speculation that the US Federal Reserve will raise interest rates before the end of the year triggered a sell-off in the precious metal. Spot gold prices fell by as much as $4 to $1,053.29 on Monday, close to Friday's six-year low of $1,052.46. While prices recovered in late trading, gold is still on track for a decline of 6.7% this month, which would represent the biggest monthly fall since June 2013. – The Daily Telegraph

Business confidence in Scotland has fallen in the latest quarter and continues to lag the rest of the UK, a survey today reveals. Uncertainty ahead of the Holyrood elections and cuts in the oil and gas sector are among factors cited for the disappointing results of the latest UK Business Confidence Monitor, compiled by accountancy body ICAEW and Grant Thornton. – The Scotsman

The US dollar hit an eight-month peak against other major currencies on Monday, intensifying pressure on emerging markets as investors raised their bets on a “great divergence” in international monetary policy this month. Investors are preparing themselves for a pivotal few weeks where the Atlantic policy gulf between the ECB and the Fed is expected to widen drastically, stirring up monetary cross-currents that will set the tone for 2016. – Financial Times