Greenspan and Buffett issue recovery warning - papers

Two of America's most noted financial commentators have argued the recovery of the US economy is not a given, despite the recent uptick in sentiment.

The Telegraph says Warren Buffett, the billionaire investor, and Alan Greenspan, the former Federal Reserve chairman, have both issued cautions to those who say the US economy is in the final stages of recession.

"We are not out of problems yet," says Mr Buffett. "We have got to get the sputtering economy back so it is functioning as it should be," added the septuagenarian "Sage of Omaha" in an interview with the New York Times. Full story...

THE UK JOBS MARKET is starting to show signs of recovery, according to a survey of recruitment agencies, reports the BBC.

The research, produced by Markit Economics, finds "marginal increases" in both permanent and temporary appointments in August. For permanent staff, this is the first increase since early 2007.

"This is first time we have seen really positive news for the UK jobs market in 17 months," says Bernard Brown from KPMG, co-sponsor of the survey. The survey is said to be the most comprehensive guide to the UK labour market. Full story...

BRITAIN IS SET to keep its top triple A credit rating, with the ratings agency Moody's expected to announce today a downgrade is unlikely despite spiralling public debt, reports the Guardian.

A downgrade, which would drive up the government's borrowing costs, looks to have been averted because of the growing political consensus on the need to cut public spending as the economy recovers, according to the Financial Times.

Pierre Cailleteau, head of sovereign risk at Moody's, says Britain's triple A status was "resilient" and a downgrade was "very unlikely". Moody's said Britain had significant advantages which meant its debt would remain affordable. Full story...