What the Sunday papers said
Monday 22 October 2012
The Independent on Sunday: Recession ends, but recovery to be slowest for 100 years
The UK is on course for its slowest recovery in a century, even though the end of the double-dip recession is set to be confirmed this week. Official figures are likely to show that the economy expanded by 0.6 per cent in the third quarter, the first expansion since September last year. The figures will have been boosted by one-off factors, including Olympic ticket sales.
The Sunday Telegraph: Facebook chief to head up London's Tech City
Joanna Shields, the Facebook executive responsible for the social network in Europe, the Middle and Africa, is to take the helm of the Government's Tech City Investment Organisation. Ms Shields will be chief executive of the body, which has attracted companies ranging from start-ups to Google and Intel to the cluster of hi-tech businesses sited at "Silicon Roundabout" in east London.
The Sunday Times: Goldman Sachs due £13m tax credit after shares fall
Goldman Sachs is expecting a £13m tax credit in the UK. Accounts show that the US banking giant had set aside the money to pay tax on staff share options. But Goldman's shares nearly halved in 2011, meaning the tax bill was less than expected, prompting the bank to book the £13m tax credit.
The Mail on Sunday: Manufacturers step into breach left by banks
Manufacturers are lending billions to smaller businesses to make up the shortfall in lending from banks. Rolls-Royce said it had lent £500m to small suppliers, while GlaxoSmithKline said it had set up a supply chain financing system.
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