Friday newspaper round-up: Car manufacturing, Andrew Bailey, consumer confidence
Renewed shutdowns of car plants around the previously expected Brexit date of 31 October contributed to a further decline in UK car manufacturing in November. Output slumped by 16.5% compared with the same month a year earlier, with 107,753 units produced, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). - Guardian
Betting-style features in video games, such as so-called loot boxes, are “polluting” young peoples’ lives and should be reclassified as gambling for over-18s, the Royal Society for Public Health (RSPH) has warned. In a wide-ranging report, the charity added its voice to growing calls for a complete overhaul of gambling regulation in the UK, urging Boris Johnson to follow through on the Conservatives’ manifesto commitment to review it. - Guardian
Andrew Bailey, head of the City watchdog, is set to become the first Bank of England governor of the Brexit era, stepping into one of the most testing periods for the UK’s central bank. The Financial Conduct Authority (FCA) chief executive was on Thursday night braced to succeed Mark Carney when the Canadian steps down on Jan 31, the day the UK is due to leave the European Union. The appointment will be announced by Sajid Javid, the Chancellor, today. - Telegraph
Households grew more confident about their personal finances in the run-up to the general election and believe that the outlook for the economy has brightened, according to a closely watched survey. In a sign that rising wages and record employment are buoying consumer sentiment, the GfK confidence index rose by three points to -11 this month. Although the index remained in negative territory, households said that they were feeling more optimistic about the future and increasingly committed to making large purchases. - The Times
Pay for FTSE 100 chief executives has fallen 12 per cent to under £3.5 million on average after pressure from shareholders and regulators. The FTSE 250 bosses earned an average of £1.5 million according to their latest annual reports, down 6 per cent from £1.6 million the previous year. A reduction in annual bonuses and the value of shares in long-term incentive awards were among the reasons for the fall, according to Korn Ferry, a consulting firm, which analysed annual reports for companies in the blue-chip FTSE 100 index and FTSE 250 index, home to smaller companies. - The Times