The European Central Bank has warned that the risks to the global financial system from market turbulence have increased since May. In its bi-annual Financial Stability Review published yesterday the eurozone’s central bank warned in particular that the widely predicted slowing or tapering of America’s $85bn a month asset purchase scheme could cause market shocks. The ECB noted that cutting back on the bond buying programme “might be a harbinger of further realignment of risk premia with fundamentals in bond markets, or even an overshooting”. – The Times

Almost every contractor in the oil and gas sector is planning to hire workers next year, despite the uncertainty created by the vote on independence. A survey by Aberdeen and Grampian Chamber of Commerce, published today, found that the referendum is a key issue governing the future of the industry. But it also shows that there is significant optimism in the sector, with a record 98% of North Sea contractor firms looking to recruit in the next 12 months. – The Scotsman

The Post Office said yesterday that the future of its network of 11,500 outlets had been secured after another £640m injection of taxpayers’ money. Consumer groups, however, claimed that modernisation plans would mean the end of the local post office. Unions also warned that 4,000 sub-postmasters would be out of a job unless they accepted unsustainable cuts in income. – The Times

Deutsche Bank is in exclusive talks with private equity group Permira to sell the loss-making part of its UK wealth management business as part of a strategy to concentrate on ultra-rich clients. Germany’s largest lender was hoping to reach a deal to dispose of Tilney Investment Management to Permira before Christmas, three people familiar with the negotiations said. The planned sale comes seven years after Deutsche bought into the UK wealth management market with the acquisition of Tilney for £300m. – Financial Times

Burberry’s signature check trademark is under threat in China, where the luxury brand faces a ruling which challenges its exclusive rights to use the red, black and tan design. China’s trademark office last week revoked Burberry’s copyright of the design after a legal challenge by local fashion house Polo Santa Roberta (PSR), which also wants to use the plaid, known as the ‘Haymarket Check’ in its bags and accessories. – The Daily Telegraph

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Shops in Greece must be free to offer buy-one-get-one-free deals and determine their own product sell-by dates as part of wide ranging reforms to regulations that have prevented the debt-stricken country from recovering after the financial crash, according to a leading thinktank. The Organisation of Economic Co-operation and Development (OECD) said a bonfire of harmful regulations restricting trade and investment in four key industries was needed to create a more vibrant economy and foster growth. – The Guardian