Friday newspaper round-up: Mothercare, LGIM, StanChart,

Mothercare is launching a closing down sale with nearly all products “dramatically reduced” as it prepares to close all its 79 stores and its website in the UK. The baby and maternity retailer is to begin clearing stock with the sale on Friday after appointing administrators from the advisory firm PricewaterhouseCoopers on Tuesday, who are to close down its UK retail arm with the loss of more than 2,800 jobs within the next few months. Jobs at Mothercare’s warehouse and call centres – which are outsourced to other companies – are also at risk. – Guardian

The UK’s biggest fund manager has spent nearly £300m this year increasing its shareholdings in companies it named and shamed for dragging their heels on climate action. Legal & General Investment Management (LGIM), which has been one of the most outspoken fund managers over the climate crisis, announced in June it was cutting five more companies from its environmentally and socially conscious funds for not doing enough to mitigate the climate emergency. – Guardian

Sajid Javid unveiled a £300bn investment spree as he tore up borrowing rules and reversed decades of Conservative policy with a pledge to revamp Britain’s roads, railways, schools and hospitals. The Chancellor said he will not use debt to fund current spending, such as benefits and wages, but will take advantage of rock-bottom interest rates by borrowing up to 3pc of economic output per year to invest. – Telegraph

The boss of Standard Chartered has bowed to investor pressure and agreed to cut his pension in response to a shareholder revolt over his retirement benefits. It is understood that the FTSE 100-listed bank will announce that Bill Winters, chief executive, will have his pension allowance reduced so that his retirement benefit as a percentage of his salary is in line with the rest of the company’s British workforce. – The Times

Private investors have been dumping share-based funds at their fastest rate in at least a decade, according to the latest snapshot of sentiment among savers. Net retail outflows from equity-based funds grew to £4.6 billion in the three months to September, the Investment Association said, in the largest net outflow since records began in 2009. – The Times