Wednesday newspaper round-up: ISIS, Ukraine, Scottish independence...
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Militants from the Islamic State of Iraq and the Levant (Isis) released a video tonight claiming to show the beheading of American journalist Steven Sotloff and threatening a British hostage with a similar fate if the US continues air strikes against its forces. - The Independent
Ukraine could need a further $19bn in emergency international funding by the end of next year if there is no resolution to the escalating conflict in the east of the country, the International Monetary Fund (IMF) has warned. - The Guardian
Scotland must choose between independence and keeping the pound if it wants to be part of the European Union, one of the bloc's top officials has warned. In a blow to the Yes campaign, Olli Rehn, vice president of the European Parliament and former commissioner for economic and monetary affairs, said keeping the pound without consent from Westminster "would simply not be possible" because EU membership requires countries to have access to an independent central bank. - The Telegraph
A leading accounting firm that acted against the interests of its own client and endangered the pensions of thousands of ordinary British shop workers has been hit with a £1.87 million penalty. Mazars, the ninth largest audit firm in Britain, admitted that its conduct fell significantly short of standards to be expected after settling with the regulator, the Financial Reporting Council. - The Times
Emergency measures to fire up mothballed power stations could be used to keep the lights on this winter, after a series of power plant fires and closures left Britain more vulnerable to blackouts. National Grid announced on Tuesday that it would begin recruiting idle or mothballed power plants, which would be paid to ensure they could fire up if needed as a "last resort". - The Telegraph
The pound sank to a five-month low against the dollar yesterday after markets were jolted awake to the possibility of Scottish independence. Sterling fell by 0.7 per cent to $1.6502, the biggest slide in two weeks, after YouGov found that the Better Together campaign's lead had been whittled down to six points a fortnight before the referendum, on September 18. - The Times
The chief executive of Royal Dutch Shell has urged Barack Obama to lift America's 40-year ban on oil exports. Ben van Beurden told a conference in the US that the move would make the global energy system more stable. "Policy makers here in the US should embrace a truly liberalised diverse and global energy market," the head of the FTSE-100 oil giant said in his speech at Columbia University. - The Telegraph
Retailers are continuing to cut prices in a bid to woo cash-strapped shoppers, according to a report published today that shows intense competition in the grocery sector has kept food inflation at a record low. With discounters such as Aldi and Lidl piling the pressure on major supermarkets, the British Retail Consortium (BRC) said food price inflation remained at 0.3 per cent last month - the lowest figure since its records began in December 2006. - The Scotsman
Signs of a pick-up in support for Scottish independence left shares in Royal Bank of Scotland lower. With RBS seen as being vulnerable to currency risks caused by a Yes vote, shares in the banking giant fell 2 per cent or 8.8p to 351.5p. - The Scotsman
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