Tuesday newspaper round-up: RBS, Fiat, The Co-op...

28th May 2013 06:30

The Telegraph says that RBS is preparing its restructuring boss Nathan Bostock for the Chief Executive Officer (CEO) role as part of the company's long-term plans to replace Stephen Hester.Shares in Italian carmaker Fiat raced higher on Monday on speculation that the company was close to a deal to buy up the rest of Chrysler that it does not already own, writes The Independent. The paper says that the move could come ahead of a potential public offering in the States by the combined business.The Scotsman says that former HSBC North America frontman Niall Booker has become the CEO of The Co-op's banking arm.According to The Times, a quarterly CBI survey has shown that British optimism in the services sector (which accounts for over three-quarters of the economy) is at its highest level since 1999. "Hotels, bars and restaurants have enjoyed their biggest rise in trade in almost six years, suggesting that long sought-for green shoots have finally appeared in the vital services sector," the paper writes.Economists have said that George Osborne's promised £3.0bn investment in infrastructure could be used to plug the gap in his overhauled Private Finance Initiative, reports The Guardian.Pharmaceuticals group Valeant has launched an $8.7bn takeover of ophthalmology firm Bausch & Lomb, creating an eyecare business with net revenues of over $3.5bn, according to the Financial Times.The Resolution Foundation think tank has found a jobs gap of 930,000 needed to take the adult employment rate in the UK up from the current level of 58.5% to its 2008 level of 60.3%, The Independent reports.BC