Thursday newspaper round-up: UK economy, EU banks, Co-op...

12th Dec 2013 10:05

The UK downturn is finally expected to be left behind next year as the size of the economy surpasses its pre-recession peak, according to a new forecast from the British Chambers of Commerce upgrading prospects for growth. - The TelegraphThe European Union has agreed a common rule book for handling failed banks, in a compromise that brings forward the date when senior creditors must face losses but still leaves room for governments to launch bailouts. - Financial TimesThe troubled Co-operative Group has brought in former City minister Lord Myners on a salary of just £1 to help turnaround the bank after its reputation was left in tatters by the Paul Flowers scandal.- The Guardian Asda Chief Executive Andy Clarke is looking to launch an own-brand tablet to rival Tesco's Hudl as he signalled last week's day of discounts known as 'Black Friday' would return next year. - The Daily MailBank of England rate-setter Martin Weale yesterday said that Threadneedle Street's flagship forward guidance policy was likely to have had little impact on the economy and appeared to clash with Governor Mark Carney over the timing of possible rate rises. - The Independent Consumers are splashing their cash again after several years of belt-tightening, new figures from Barclays revealed yesterday. Spending has jumped 3.3% in the year so far, outstripping inflation, as the recovery gathers speed and shoppers regain confidence. - City AMA South Korean court has handed Samsung Electronics an unexpected loss on its home turf, dismissing claims that Apple violated three of Samsung's mobile patents. - Financial TimesRD