News Headlines - 17 December 2012

▽Japan's election: Shinzo Abe's sumo-sized win | The Economist

A FORMER prime minister, who resigned in 2007 after a shambolic first year in office, and his Liberal Democratic Party (LDP), which two years later was hounded out of the governing role that it had taken as its birthright, are both headed for a remarkable return to power. In the hours after midnight it became clear that an LDP-led coalition was going to secure a two-thirds majority in the lower house of parliament. Shinzo Abe will be back at the head of government.

▽Abe intensifies pressure on Bank of Japan - FT.com

Shinzo Abe has intensified pressure on the Bank of Japan to ease monetary policy further after leading his party to a dramatic victory in Sunday’s general election.

▽Bank Of England Eyes Plastic Money For UK

The bank confirms a proviso is included in a new bank note printing contract to replace paper with polymer-based cash.

▽Cheap loans scheme fails to reach first-time buyers - London Evening Standard

First-time buyers and those with small deposits have seen barely any of the benefit of cheaper loan costs from the Bank of England’s Funding for Lending scheme, according to new figures.

▽Comet's creditors to net ￡50m after collapse

Comet has finally plunged to earth, with secured creditors Hailey Acquisitions Limited (HAL) about to receive 34% of their dues following the collapse of the chain. HAL, an investment vehicle set up for the purpose of acquiring Comet in February this year, will reap ￡49.7m from the administration process, but unsecured creditors to the chain will not get a single penny.