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Live, rolling coverage of business, economics and financial markets as American private sector adds 227,000 jobs in November

The sale of the Observer, the world's oldest Sunday newspaper, to Tortoise Media has been agreed in principle.

The announcement by the Scott Trust, the ultimate owner of the Guardian and Observer, came as it also revealed that it would invest in Tortoise to become a key shareholder and take a seat on both the editorial and commercial boards of the media company.